New York Post Online Edition: business: IS FANNIE MAE SCANDAL DEMOCRATS' ENRON?
Actually, I'd say the bigger question is whether Fannie Mae will melt down and need to be bailed out at taxpayer expense. If that happens, does it really matter whether that sorry event would help or hurt Democrat political interests?

September 26, 2004 -- Is the growing scandal at Fannie Mae about to become the Democrats' Enron? That's the hot question in Washington this week as regulators painted a scary picture of the huge home lender, detailing accounting shenanigans, including "cookie jar" reserves that smoothed out volatile results and paved the way for tens of millions of dollars in executive bonuses. For those, including Alan Greenspan, who have warned that this government-sponsored lender is a ticking time bomb, the revelations seem to indicate that Fannie's own management believed its operations are a lot riskier than they let on... The next few weeks will likely tell whether the scandal at Fannie Mae will blow over, or whether it threatens to blow up into a bigger mess that could potentially leave U.S. taxpayers exposed to a mammoth bailout. It will be interesting to see if Fannie's ties to the Democrats get as much ink as Enron's ties to the Republicans.