Who is more culpable in the Freddie Mae and the Freddie mac financial collapse?

ny times, september 11, 2003

"the bush administration today recommended significant regulatory overhaul in housing finance industry since savings , loan crisis decade ago.

under plan, disclosed @ congressional hearing today, new agency created within treasury department assume supervision of fannie mae , freddie mac, government-sponsored companies 2 largest players in mortgage lending industry.

new agency have authority, rests congress, set 1 of 2 capital-reserve requirements companies. exercise authority on new lines of business. , determine whether 2 adequately managing risks of ballooning portfolios.

plan acknowledgment administration oversight of fannie mae , freddie mac -- have issued more $1.5 trillion in outstanding debt -- broken. report outside investigators in july concluded freddie mac manipulated accounting mislead investors, , critics have said fannie mae not adequately hedge against rising interest rates...

significant details must still worked out before congress can approve bill. among groups denouncing proposal today national association of home builders , congressional democrats fear tighter regulation of companies sharply reduce commitment financing low-income , affordable housing.

''these 2 entities -- fannie mae , freddie mac -- not facing kind of financial crisis,'' said representative barney frank of massachusetts, ranking democrat on financial services committee. ''the more people exaggerate these problems, more pressure there on these companies, less see in terms of affordable housing.''

mess started when bill clinton pressured fannie mae , freddie mac give home loans low-income , minority groups every american own own home. then, when problems seen, bush administration tried deal it. democrats, led barney frank, shot down. so, answer question, suppose obama guilty association, , therefore more culpable.

is john mccain or barack obama more culpable , therefore disqualified president?

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