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We saw companies like Fannie Mae and Freddie Mac take advantage of the underserved people of the US, by letting them obtain loans that they knew could not be paid. Unlike other fortune 500 companies Fannie and Freddie were not required to report any financial difficulties to the public or its investors. The CEO's knew that the American taxpayers would be liable for any loss.

Why am I just pointing my finger at Fannie and Freddie? Well if you read the SEC's recent report on Fannie and Freddie, you would realize that these two companies combined debt is 46 percent of the current national debt. It was the congress and SEC's job to police these companies, however they failed.

This started with Bill Clinton and his national home ownership agenda he pitched when he was in the oval office. This was geared toward the lower income population. It was designed to assist with helping the lower income obtain housing by paying low down payments and obtaining loans as first time home buyers, even though they had less than acceptable work histories or financial difficulties. Mr. Clinton put demands on these companies to approve these insane lending practices and he shares blame for our current financial crises.

The biggest culprits in this financial mess are Barney Frank and Chris Dodd. Mr. Frank is the Chairman of the house financial services committee. Only a couple of years ago Mr. Frank was praising these companies saying "Fannie Mae and Freddie Mac were not facing any kind of financial crisis." He added ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

It was these inaccurate comments that lead people to invest their money, into these companies that were spiraling down. Mr. Frank was also the beneficiary of thousands of dollars in charitable contributions from these companies. He also had a major conflict of interest when he had a live-in relationship with then assistant director of product initiatives for Fannie Mae; Herb Moses.

Mr. Moses was an executive for Fannie Mae from 1991 to 1998. He benefited from laws that his live in boyfriend Mr. Frank wrote and helped pass. Throughout all of the turmoil of the economy and financial crisis, Mr. Frank does not accept any responsibility.

Mr. Dodd is the Chairman of the Senate Committee on Banking, Housing and Urban Affairs. He was also in charge of regulating Fannie Mae and Freddy Mac. With all the titles, it would seem that Mr. Dodd

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