"Clinton was the one that deregulated this market. "

- don't you mean "regulated"? according to fox news and right wing blogosphere, bill clinton is responsible for the economic crisis because he used regulation (the 'communisty' reinvestment act) to force banks to loan money to low income and minority families



"Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal."

- EXACTLY! it was an accounting scandal, not a subprime loan scandal...george bush and allan greenspan are responsible for the subprime loan scandal




"Sorry but I couldn't find the line in the [white house] link that stated ANYTHING regarding Fannie and Freddie."

- fannie may and freddie mac are government sponsored enterprises (the largest government sponsored enterprises in the world, i think)...the 2002 white house press release i linked and quoted referred to fannie and freddie in their action plan by saying:

"Substantially increase by at least $440 billion, the financial commitment made by the government sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market"

here is an explanation of government sponsored enterprise:
Government sponsored enterprise - Wikipedia, the free encyclopedia
maladroit Reviewed by maladroit on . Fannie Mae Freddie Mac Barack Obama & John McCain http://www.youtube.com/watch?v=3QBRIsCkGQ0&feature=iv&annotation_id=event_311253 http://www.youtube.com/watch?v=-bLFPjLaXPM&NR=1 http://www.youtube.com/watch?v=9nU3fNh-PRk&feature=related Have a good one!:s4: Rating: 5