Democrats Are "The Conscience of Fannie Mae"

Upon his swearing in as CEO of Fannie Mae, Daniel Mudd spoke to the Congressional Black Caucus. From Newsbusters:

It is true that Fannie Mae has lent more money to more minorities and more underserved individuals than any single company in history.

We will work hard inside our company to resolve the serious matters before us to put our house in order and to forge a new future. And all the while you will see Fannie Mae reaching out and listening to the caucus. Over a century of endeavor you have earned the reputation as the conscience of Congress. In many ways I want to tell you today you are also the conscience of Fannie Mae. Keeping us on course to serve those who need serving the most.

This pandering is precisely why I oppose the government running private companies and also a reason why we're in this financial mess. Fannie Mae was not in business to "serve those who need serving the most." It was not created to selectively choose which part of the population it lends to and it was not supposed to be a government welfare program. And this is why we should hold public investigative hearings that include current and former management teams. (Should be easy to round them up - just go to Obama's campaign headquarters.)