Where is the congressional investigation into the mortgage crisis as to why Fannie and Freddie went under?

With a democrat controlled congress will we ever learn just who was responsible for their collapse, I'm sure if it was Bush or some other republican they would be issuing subpoenas demanding answers to fix blame.Where is the congressional investigation into the mortgage crisis as to why Fannie and Freddie went under?
It follows just like when Pelosi said they should impeach Bush, she backed off when she realized how many Democrats would fall with him because they too were for the invasion in Iraq...you have to ask yourself, ';Why do the Democrats insist on having the Republicans in on this bailout deal when the Democrats have the majority and they can pass anything they want?';, its simple, they don't want to take the fall for a crap deal alone. I think we need an independent investigation to find out which politicians had a hand in this collapse and they burn whoever did...I never could understand how a politician can come in to office broke and leave millionaires...someone made money off of this entire mess and we need to know who whether they're Democrat or Republican and you can bet it went on with both sides.Where is the congressional investigation into the mortgage crisis as to why Fannie and Freddie went under?
You answered your own question! It was Clinton in 1999 that de-regulated the banks, insurance companies etc to free more money to lend to sub-prime borrowers. I am sure he meant it for the good of all, but by allowing people with bad credit, no income, no down payment to buy- he basically set us up for this fall. I have worked in the mortgage business since 1986. My company refused to do these loans- because we knew it was the wrong thing to do. When a person would call us for this type of loan and we turned them down, they thought we were discriminating! Obama is second only to Chris Dodd for taking campaign contributions from Fannie/Freddie- why would the Democrats even consider investigating- they already know who caused this problem.
Dodd and Frank would end up investigating themselves and revealing Obama's connection to the fraud through ACORN, Freddie and Fannie, and that would just be inconsistent with the grand plan to market Obama into the White House.





Update: Dodd and Frank said later today that they would hold hearings on this so that steps could be taken to ensure it does not happen again. These hearings should make for some very interesting theatre. I wonder how someone holds hearings into their own malfeasance.
Look to Barney Franks, Chris Dodd, and Obama's chief housing adviser Franklin Rain,





Java: Franks and Dodd investigateing this is like Osama Bin Laden investigateing 9/11!!
Fraud is investigated by the FBI, they started it last week. Fannie, Freddie, Lehman and AIG.
Sorry, this is a Clinton deal, there will be no investigation.
We don't actually have a ';democrat controlled congress';. There are not enough Democrats to pull anything off w/o that famous ';reaching across the aisle'; thingie.





But we don't actually require an investigation to learn what happened. Just watch what's been going past you. That's all you need to do.





FM and FM worked just fine for a very long time as government agencies. Then they were ';privatized'; under the Newt Gingrich Assault on America years. It was thought that private corporations could do a better job than the Federal government in running these organizations. And Gingrich had a genuine Republican-controlled Congress to work with. Easy peasey!





More recently, Senator Phil Gramm was instrumental in inserting into a defense bill language that removed the controls on mortgages, which effectively took the brakes off the greed of the private FM and FM executives. They were no longer required to determine whether a borrower could afford a mortgage or not. Not the slightest scrap of common sense was left as mortages were granted to people who were not even asked if they had any visible means of support!





That's what all those ads for cheap mortages with unreal payment plans are about. It was enormously profitable to make these bad loans and then sell them to another finance organization and pocket the profits.





What happens when there is no oversight? Runaway abuses, that's what.





Now the government controls FM and FM again. It's too late to mop up the spilled milk. The damages must be paid....by US! The best we can hope for now is to put regulations back in place to govern how home mortgages are granted to borrowers. Borrowers must prove they can afford a mortgage, have a down payment and have steady employment....you know, just like in the Good Old Days! ;-)





And McCain is the Champion of Deregulation. Does that give you a hint?





PS: Speaker of the House Nancy Pelosi is infamous for saying ';impeachment is off the table'; as very nearly her very first words after taking that office!
Actually, both sides are pretty responsible here.





Most know about how Obama got donations from the companies, amounting to $126,195.





What most don't know is that McCain also got donations, but his came from the CEOs and other officers of these companies; and he received $195,135--nearly $65,000 more than Obama did.





Yet Obama did take money, so he's not blameless.








What it appears to be is that Fannie Mae and Freddie Mac were attempting to play both sides, and were quite successful at it.





It also appears they sided more with McCain. He got more money, and he also received it in such a way that he would not go down with the ship if this were caught.





You see, they have records showing that they donated to Obama, so if they were caught they would go down, but those records would take Obama down with them.





But if you didn't recognize the names of the people donating to McCain, you'd never know it was the CEOs of Freddie Mac and Fannie Mae doing the donating. If they were caught, there was a good chance that McCain would not be and would still come out pretty clean-LOOKING in this (not clean, but looks clean). And he did get significantly more money than both Obama and Dodd.





Everyone is dirty in this, but McCain appears to be moreso.




















Add-on:





You guys don't have to like the truth, it doesn't care if you don't like it. It won't change.





McCain got donations as well, and $65,000 more than Obama did.





Fannie Mae and Freddie Mac sided with McCain, but decided to donate to Obama to hedge their bets in case he won. It's that simple, everyone is to blame.