Stumbled across this YouTube video of excerpts from a 2004 House Financial Services Committee hearing in which lawmakers discussed proposed regulations of Fannie Mae and Freddie Mac.

This hearing was about the same time that Alabama’s own U.S. Sen. Richard Shelby was conducting similar hearings in his committee and trying to get new regulations passed, as we discussed yesterday.

Democratic U.S. Rep. Artur Davis, an oft-mentioned candidate for Alabama governor in 2010, makes an appearance at 3:58.

Yes, this video was spliced together by a Republican. But never mind the storyboard interruptions; listen to the lawmakers.

Their words are their own.