In 2005, Republicans were introducing legislation to regulate Fannie Mae and Freddie Mac, calling for investigations into accounting fraud by their executives (which eventually led to fines) and warning of an impending crisis while Democrats were receiving large financial contributions from the companies, claiming there was no impending crisis and trying to stonewall the investigations. During that time, the interim CEO of Fannie Mae spoke to the Congressional Black Caucus calling them “family” and the “conscience of Fannie Mae”…

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