Ben Bernanke, chairman of the Federal Reserve, was on the hot seat last week. He was being asked about the Fed's role in missing the housing bubble that set off the 2008 financial crisis, whose effects are still being felt.

Americans should be asking when that same hot seat will be occupied by U.S. Rep. Barney Frank, D-Mass., and retiring U.S. Sen. Chris Dodd, D-Conn., as well as other congressional leaders who led financial committees in Congress. Those officials were instrumental in setting policy at mortgage giants Fannie Mae and Freddie Mac, which played a central role in the housing bubble that triggered the financial crisis.

Bernanke, while choosing his words carefully, admitted that the Fed misread data, failed to realize the danger of the housing bubble until it was too late, and also did not fully appreciate the complex financial networks that allowed the housing crisis to nearly set off a global financial collapse.

Other federal officials and high-ranking regulators have admitted their roles. Wall Street investment bankers conceded failures also.

Americans should know more about the role Fannie Mae and Freddie Mac played in the housing crisis and financial turmoil that followed.

The two government-supported mortgage giants aggressively promoted subprime lending to increase homeownership, especially among the poor. Despite those well-meaning intentions, the relaxed lending standards resulted in money being loaned to people who, by conventional standards, had little chance of repaying their loan.

Fannie Mae and Freddie Mac were not alone in causing the housing bubble and subsequent market collapse. Wall Street repackaged and aggressively sold the risky packages of mortgages to investors. Mortgage lenders cut corners on lending standards to sell more loans and reap the resulting fat commissions. Many homebuyers also played a role, by intending to "flip" houses for a quick profit or even lying about their income and ability to repay the loan. Local banks and mortgage lenders cared little about the risks involved because they did not hold the loans on their books; they sold them off to other banks or investment firms, who sold them again.

The whole thing was a house of cards, ready to collapse.

Still, voters and taxpayers deserve to know more about the role of Fannie and Freddie and their cheerleaders in Congress — especially Frank and Dodd.

In 2003, Frank aggressively resisted efforts by the Bush administration to impose some reforms and stricter oversight of Fannie Mae and Freddie Mac.

In that same year, Frank famously said, "These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis." He also said, when asked about tightening up mortgage lending standards, that he preferred to continue to "roll the dice" on subprime lending to increase homeownership.

Frank and Dodd should take a seat at the same table as Bernanke and other federal officials and regulators. The two top-ranking congressional veterans and others involved should be asked the same tough questions about their mistakes and misjudgments.

Frank and Dodd should not get special treatment or be allowed to take a pass on testifying before the inquiry commission. If the commission intends to examine all causes of the financial crisis, which it says it does, management of Fannie Mae and Freddie Mac, as well as Frank, Dodd and others in Congress, must be called to testify. Failing to do so will look political with Congres controlled by Democrats. Failing to reveal the facts will look like an effort to sweep their culpability under the rug.