The Cause of the Crisis 2008

Obama claims that it is McCain's "deregulation" that is too "risky" and contributed to the crisis.

But who refused to have tighter regulations on Fannie Mae and Freddie Mac? (See article) The Republicans were warning of the danger of lack of accountability in Fannie and Freddie; they warned about a huge amount of lobbying and political contributions coming from Fannie and Freddie; they warned about the disproportionately high executive bonuses. The Democrats who controlled the Congress refused to allow tighter regulations and now in 2008 we have seen the result of that intransigency:


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Here's another good analysis of the record:



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Following is a pro-McCain video. But it is worth watching because the facts of the connections between Obama and Fannie May and Freddie Mac stand up to scrutiny.



Jim Johnson former CEO of Fannie Mae. Franklin Raines, also a former CEO for Fannie Mae. Both are advisors in Barack Obama's Campaign

It is also undeniable that 3 years ago in 2005, John McCain already was very concerned about the lack of regulation and accountability of Fannie Mae and Freddie Mac. Take a look at what he wrote about it -- shown in this video.