The senators who actually took the most lobby money from Fannie May/Freddie Mac were as follows.

1. Chris Dodd
2. Barak Obama
3. John Kerry

This was all in large part started by the repeal of the The Glass Steagall Act by Bill Clinton (no nut kick yet Todd) and the instution of the Grahm Leach Bailey Act. The Glass Steagall act was put into place in 1933 in response to the commercial banking crisis of the Great depression.

Mccain Tried to stop this but the Democrats Killed it in congress. Hmm Citibank gave the Dems and canidates nearly 200 million dollars. Huh, Obama voted against it.

McCain - Federal Housing Enterprise Regulatory Reform Act of 2005 (Democrats blocked reform)

1/26/2005 | Congressional Research Service

Federal Housing Enterprise Regulatory Reform Act of 2005

Bill Summary

1/26/2005--Introduced. Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board. Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting. Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. Excludes the Federal Home Loan Banks from certain securities reporting requirements. Abolishes the Federal Housing Finance Board.