Guess who was covering for Fannie Mae and Freddie Mac in 2004?

27 Sep, 2008 by Cassy Fiano

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Hint: it wasn’t Republicans.

Not surprising, considering that the top five recipients of campaign contributions from Fannie and Freddie were — shockah — Democrats! 17 out of the 25 top recipients were Democrats. No wonder they weren’t willing to reform Fannie Mae and Freddie Mac. It would’ve killed their cash cows.

And, surprise surprise, look who’s sitting pretty at number three. And that’s not even with a full term in the Senate completed yet. Imagine that. And, as Gateway Pundit points out, Fannie Mae chairman Jim Johnson is still advising Obama. Change we can believe in? Don’t count on it.

Every time majority Republicans tried to pass legislation to reform Fannie and Freddie, Democrats blocked it. Now we’re seeing the repercussions of their actions. Yet — unsurprisingly, if I may say — they refuse to take responsibility for their screw-up. They’re much more fond of finger-pointing and sticking taxpayers with the bill.

Hat Tip: Gateway Pundit