Democrats help (accurately) fix blame for subprime mortgage crisis

The Wall Street Journal compiled a series of quotations from Democratic congressional leaders concerning Fannie Mae and Freddie Mac.

Please read it all, but here's a teaser:

Rep. Frank: Let me ask [George] Gould and [Franklin] Raines on behalf of Freddie Mac and Fannie Mae, do you feel that over the past years you have been substantially under-regulated?

Mr. Raines?

Mr. Raines: No, sir.

Mr. Frank: Mr. Gould?

Mr. Gould: No, sir. . . .

Mr. Frank: OK. Then I am not entirely sure why we are here. . . .

Rep. Frank: I believe there has been more alarm raised about potential unsafety and unsoundness than, in fact, exists.

You tell 'em, Barney.