Republicans caused this?

If you listen to the mainstream press and the Democrats on the hill you would get the impression that the unstable financial market we are experiencing today is due to Republican led deregulation. Below is a video montage of CSPAN archives from the Fannie & Freddie hearings from 2005. If you are accustomed to taking the news at face value, you may be surprised by what letter is next to the names of the congressmen pushing for regulation and oversight of Fannie & Freddie long before the recent collapse.

If that doesn’t make it clear enough who is to blame then maybe this will make it a little clearer.