This is a excellent and quick summary of events leading to our economic crises. Definitely worth clicking through to the original.
Look where these people are now!!
No Accountability whatsoever!!

And where are these Fannie Mae executives now?

* Franklin Raines ($90 million in compensation): Economic Adviser to Barack Obama
* Jamie Gorelick ($26 million): Major Democratic Fundraiser
* James Johnson ($21 million): Adviser to Barack Obama

That's change you can bank on!

I have just one question for FBI director Mueller. Why aren't these people in prison?

I have pointed out before that while fannie is to blame for its role in the mortgage problems, the financial crisis in America only got too big to handle because of credit default swaps and greed on wall street which was only possible because of a lack of proper regulations on financial products created out of thin air and backed by NOTHING. The value of all defaulted mortgages wouldn't have bankrupted wall street, wouldn't have caused the stock market to get cut in half, wouldn't have affected business credit/lending, wouldn't have caused housing prices to fall such that my 40% equity in my home has vanished. It's peanuts compared to what the big banks/brokers and AIG did.

Pop for deb2012's comment, because she's right.

Deb2012,
I understand there is more to it, but this was clearly the spark and probably the kindling as well.
These people should be held accountable. I know Fed policy at the time didn't help matters either.

good clarification billpar, but if you read your clip fully at the source, it does seem to imply that fannie and it's supporters are to blame for the financial crisis. Fannie problems are more related to payoffs and political power, etc than to the financial crisis. I just object to the tie-in because this financial crisis could have happened without fannie, (there were plenty of other subprime lenders) but it could NOT have happened without deregulation.