Who Says?

We keep hearing Sen. Barack Obama (D-IL) and his political allies place the mess of the failed Fannie Mae and Freddie Mac--government-run mortgage companies--at the feet of "deregulation." Then, either by subtle insinuation or overt accusation, Sen. Obama and his cronies tell us that those "wascally Wepublicans" (my Elmer Fudd-esque term) are the culprits behind the "deregulation" of Fannie and Freddy.

But who was really trying to warn and regulate and who was truly stonewalling and putting the brakes on regulation? Let their own words answer that: