The Washington Post carried an interesting article on the whole Fannie / Freddie business by two former White House staffers. http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102841.htmlIt seems that the White House did try to reform the two institutions but were thwarted by Congress, including several of the Democratic Left's favorites. You will find this quote interesting, I think:"Meanwhile, Dodd -- who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 -- actively opposed such measures and further weakened existing regulation."But I suppose the Washington Post is just one more Right Wing publication.