Liar, Liar: Obama Pants On Fire

Oh, Bama -- short changing the truth again.
McCain punches back.

"Senator Obama has accused me of opposing regulation to avert this crisis. I guess he believes if a lie is big enough and repeated often enough it will be believed. But the truth is I was the one who called at the time for tighter restrictions on Fannie Mae and Freddie Mac that could have helped prevent this crisis from happening in the first place."

"Senator Obama was silent on the regulation of Fannie Mae and Freddie Mac, and his Democratic allies in Congress opposed every effort to rein them in. As recently as September of last year he said that subprime loans had been, quote, a good idea. Well, Senator Obama, that good idea has now plunged this country into the worst financial crisis since the Great Depression."

"To hear him talk now, you’d think he’d always opposed the dangerous practices at these institutions. But there is absolutely nothing in his record to suggest he did. He was surely familiar with the people who were creating this problem. The executives of Fannie Mae and Freddie Mac have advised him, and he has taken their money for his campaign. He has received more money from Fannie Mae and Freddie Mac than any other senator in history, with the exception of the chairman of the committee overseeing them."

McCain calls Obama a liar.

Update:
Here's the letter signed by McCain and 19 other senators in 2006 calling for action to reign in Fannie Mae and Freddie Mac. Not one democrat signed it.