Well, well. It turns out that John McCain was NOT the person trying to save Fannie & Freddie back in 2005. It was another popular Republican Senator.
http://www.msnbc.msn.com/id/27001026/
PALIN: "Two years ago, remember, it was John McCain who pushed so hard with the Fannie Mae and Freddie Mac reform measures. He sounded that warning bell."
THE FACTS: Republican Sen. Chuck Hagel of Nebraska led an effort in 2005 to tighten regulation on the mortgage underwriters — McCain joined as a co-sponsor a year later. The legislation was never taken up by the full Senate, then under Republican control.
http://www.msnbc.msn.com/id/27001026/