the Bush Administration tried to stop the economy from spiraling into the shit storm its become. Check it out. From 2003 New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com "Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing. " ''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." "Representative Melvin L. Watt, Democrat of North Carolina, agreed" well how bout that?