The Republicans took it seriously and tried to do something about it.

The Democrats blew it off as a non-issue and even criticized the intelligence behind the report.

Now, years later, when the impact of the WMD issue has been felt by every American’s savings account, Barack Obama has the audacity to blame the Republican administration for this problem.

He lied.

When it comes to the WMD issue, the responsibility rests squarely on the shoulders of the Democrats. I’m not talking about WMD – Weapons of Mass Destruction; I’m talking about WMD – Woeful Misuse of Dollars.

 In 2004, the regulators overseeing Fannie Mae and Freddie Mac warned of the financial irregularities in those institutions and reported them to Congress.

The Republicans recognized the potential for wide spread economic disaster if something wasn’t done about it.

But the Democrats turned a blind eye to the issue and even attacked the regulator by questioning his report and integrity.

Frank Raines, now one of Barack Obama’s advisors, took millions in pay and bonuses from his time at Fannie Mae. He should know who is responsible for the financial disaster – he took part in creating it.

But Barack Obama can’t blame his friends at Fannie Mae because Fannie Mae donating hundreds of thousands of dollars to Obama’s campaign and you don’t bite the hand that feeds you.

So the best that Barack can do is blame President Bush.

That’s leadership that we do not need in the White House.

P.S. Barack Obama’s campaign is all about “Change”. Well, I can relate to that because change is all that is left in my retirement account.