Fannie and Freddie: 900 pound gorillas

"Once one agrees to share a canoe with a bear, it is hard to get him out without obtaining his agreement or getting wet."

That statement was included in a government report about Fannie Mae and Freddie Mac all the way back in 1996. While concerns about the size and power of these two quasi-government agencies have been voiced for over ten years, the companies were able to squelch their critics with contributions and/or intimidation.

Here's an important article about one of the paths that led to our current financial and housing crisis.