While I don't agree with the politicians who were against regulating Fannie Mae and Freddie Mac more thoroughly, if anyone is trying to suggest (and it appears that some are) that Fannie and Freddie are the cause of the economic meltdown we are currently experiencing, they are being dishonest. Fannie and Freddie are a small fraction of the problem.

The same politicians who were being so vocal about stricter regulation of Fannie and Freddie were also working very hard to deregulate the rest of Wall Street. And it's the rest of Wall Street that is the main problem.