Chuck Schumer(Democrat-Fannie Mae) Defends Fannie Mae

The CS Monitor reports on leverage pusher Senator Chuck Schumer:

"Fannie and Freddie are too important to fail. Their fundamentals, as they look now, provide no reason to think they will fail," Sen. Charles Schumer (D) of New York said in a statement.

"There is more than one way to shore up Fannie and Freddie if necessary," he added. "There are countless intermediate steps that regulators could take before ever having to entertain a government takeover."

All those campaign contributions sure paid off for Fannie with sub-prime Chuck spinning propaganda like this.If there's "no reason to think they will fail" than why does FNM stock look like that? Or Freddie's like that?