Waters made that clueless comment during a hearing in 2004 and yes, that’s the same Frank Raines who cooked the books so that he could receive huge bonuses and who is an advisor to the Obama campaign. Here’s a video of the Democrats praising Freddie and Fannie and claiming there’s nothing wrong and the Republicans calling for more regulations:It’s clear that the Republicans wanted oversight but the Democrats did not. Why in the world would we want the Democrats involved in cleaning up the mess that they created? Why should we trust anything they do now? They looked the other way when the irregularities were uncovered and blocked legislation that would have given the government more oversight of Freddie and Fannie and now we have to pay billions of dollars to fix their mess! And yet Franks and Waters will be re-elected yet again because their constituents are clueless to the mess they’ve made of our economy.