Freddie/Fannie, Barnie and 2005 - a conspiracy theory?

Over the years, I've read Barney's statements in about 2004/2005 that Freddie/Fannie were sound - they didn't need reform.

How many home mortgages were already behind at that time? In foreclosure?

Why would some in Congress, like McCain want to reform the twins? Some had to see the red flags. Others, seemed to ignore the red flags.

Rahm Emanuel was part of Freddie/Fannie during an earlier accounting scandal. Apparently, there was no meaningful reform.

Were the foreclosures/defaults/losses ignored/covered up during 2004/2005 and later?

Didn't anyone notice the money shortfall? Did Freddie/Fannie issue any reports? Anyone auditing the reports?

How could the problem go undetected by Barney?

Did someone stifle the foreclosure process at Freddie/Fannie? Were the actual foreclosures pushed into the future? 2010?

If the foreclosures were stifled, is it possible the financial crisis would not have happened if those loans had just failed and foreclosed bit by bit? Instead of the floodgates that seem to be opening now?

Were there efforts to stifle foreclosures at other institutions?

How long have some of these loans been in default? 10 years? So much about this crisis doesn't make sense.

If the loans had defaulted earlier, would there have been so many derivative contracts?

Was Barney in charge of Freddie/Fannie for the past 10 years? Did his inaction keep the lid on the bad mortgages?