Senator Dodd's comments about the latest legislative behemoth, largely about banking and finance, going through Congress are quite revealing: "This is about as important as it gets, because it deals with every single aspect of our lives." That's the problem. No doubt is makes Seantor Dodd and the rest of the governing class feel important that they can do such things, and I'm sure they think that they're helping. From another perspective, however, they're often self-important busibodies.
P.S. The article also notes that "government-controlled Fannie Mae and Freddie Mac remain a multibillion dollar drain on the U.S. Treasury, and largely untouched by this proposal."