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There was an attempt to increase regulation of Fannie Mae and Freddy Mac that was blocked by the Democrats. http://finance.yahoo.com/expert/article/mortgage/118012This is an actual fact as opposed to Musketeer's twilight zone.However, this deregulation, unless he means repeal of Glass Steagal, never happened. And he's not talking about Glass-Steagal. He lives in his own little parallel universe.