Before the Meltdown: Fannie Mae CEO gives a "shoutout" to Obama

Video surfaces from 2005: The interim director of Fannie Mae (after Franklin Raines took off with his $90 million golden parachute) addresses the black caucus, whom he calls the "conscience" of Fannie Mae. Obama is given a special introduction. Hey, wait a minute. I thought Obama said he wasn't there that day. Time for some new spin.

Fannie Mae and Freddie Mac meltdown the economy. Brought to you by Obama and the Democrats.