Damn Bush and the Republicans who had all their donors and supporters being part of the executive team of Fannie and Freddie.

Damn them for forcing Jimmy Carter to push the Community Reinvestment act in the 1970s and forcing a majority of Democrats to vote for and Clinton to sign the repeal of Glass-Stegall in 1999 so vehemently.

In their overzealous effort to provide access to home ownership for lower income Americans, because the Republican Party so strongly believes in giving handouts to the poor, they caused this entire mess.

Shame on them.

Clinton's Treasury Secretary Robert Rubin testifies that Glass Steagall is out dated and not realistic in the new global economy.

Citigroup is now able to form (merging insurance, commercial and investment banks) and oh by the way Rubin gets to become vice chairman of the company. Of course this is all funded by Sandy Weill who is very generous in his political contributions to Clinton and others involved.

Hello securitizing and spreading bad mortgages, which of course were made possible by the continued efforts of Fannie, Freddie and their to-be-left-nameless congressional support team.