Given who is blaming whom for lack of oversight of Fannie Mae and Freddie Mac today, it's quite surprising to see who was saying what back in 2004, when it maybe could have been fixed:
Logic alert: I saw Barney Frank on television defending this, saying that in 2003 (I assume he meant 2004), he didn't see anything wrong with Fannie Mae and Freddie Mac. He then said, "The Republicans had eight years to put regulation in place, and they did nothing!" But...but...if Frank was adamant that nothing should be done (he's practically pounding the table in that video), and was part of putting together a Democratic voting block to keep something from being done...how can he in the next breath accuse the Republicans of doing nothing? He wanted it that way! He pushed for doing nothing! Based on his statements at the time, he would have done nothing even if he had a button to push to make responsible regulation magically happen.
He also said the Democrats did pass some kind of regulation thing after they got in power -- I'm not aware of what this was, and would be happy for any pointers.
HT to Hot Air...