The Republican National Congressional Committee has decided to launch an attack on Democrats on their affiliation with Fannie Mae and Freddie Mac. The ad is obviously aimed at Democrats and produced by a highly biased source, but it captures the pro-Fannie and Freddie policies of Democratic Congressional leaders in recent years quite well.

The fact of the matter is that Democrats defended Freddie and Fannie when it should have been perfectly clear on everyone that both companies would be in trouble years later. They behaved irresponsible and reckless. Those who enabled them to do so, did the same.

I especially take great pleasure at watching Franks defend both companies. Hilarious to see that the man who defended both shortly ago, was now the Democratic leader in the negotiations about the bailout bill and pretended that it was all the fault of Republicans.

Will it be effective? Probably not. Republicans have been blamed for the crisis, and to a degree rightfully. What seems to be forgotten in the debate, however, is that two sides are to blame here; both parties enabled these companies to behave recklessly, and to destroy the financial markets and thus the economy by doing so.

Since that ‘both’ part is missing from the debate about the crisis, I felt it important to post this video.

Via Instapundit.