Its true.The change in legislation that began the fall of FM/FM began in the Clinton administration with the idea that the home loan industry should be more lenient to be more inclusive to those who cannot afford home loans any other way. And the Clintons placed their friends in charge to impliment the policy. Many at the time, mostly conservatives, predicted the fall.
This to me is an inherent problem with liberalism. Though it can be argued the idea of inclusion is noble, and many of my liberal friends are the noblest of people I know, it is naive to excess. The road to destruction is often paved with good intentions, and delusions of Utopia.
And its true that Democrats are the leading financial gainers of FM/FM associated campaign contribution money. Senator Chris Dodd #1, and Senator Barack Obama #2. Interesting that the Dodd FM Association has become public scandal but the media has pretty much left Obama alone.