Remember when the Dems wanted to protect Freddie Mac and Fannie Mae?

Most people don't remember.
Mainly because the Dems were trying to protect both from any type of oversight or regulation.

At one point, the Bush administration wanted to form a new organization to oversee both companies.
The Democrats blocked them. From the New York Times:

Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

Yep, they were absolutely frigg'in right.
Like Barney Frank said, they are not facing any type of financial crisis. No sir. Not Fannie or Freddie. Of course, you can't blame him for not knowing. He was just in charge of the financial services committee.