Yes it was. They're holding 1/2...6 trillion dollars worth of bad paper loans. Bush tried to get more stringent controls on Fannie and Freddie in 2003. They called him a racist. John McCain tried the same thing in 2006. They called him a racist too. Fannie and Freddie currently hold 6 of the 12 trillion dollars of "bad paper" in this country. And you say they aren't to blame?