Whose policies led to the credit crisis?

Hot Air ^ | 9/16/08

[HD1200]

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

[HD1200]

Great information on how Democrats in Congress stopped Bush's plan for oversight five years ago.

[Enterprise]

It’s Clinton’s fault!

[Jim Noble]

Whose policies led to the credit crisis?

Ours.

[HD1200]

Care to elaborate?

Just wondering; if it was Bush’s policy to let people that didn’t have jobs get a mortgage and if it was, why was he speaking out against it 5 year ago?

[Mad_Tom_Rackham]

The cycle is like this: Liberals, operating from their “feeling centers”, create a mess. The public cries out for a solution. The adults (Republcans) are brought in to clean up the mess. The public breathes a sigh of relief. After years of well being and complacency, the Liberals rise up, demanding “fairnes”, and create yet another mess. And on and on.

[penelopesire]

Great article! Thanks for posting it.

[Mad_Tom_Rackham]

Where are the public Congressional hearings about the obscene salaries which were paid to the Clinton appointees who drove Fannie Mae and Freddie Mac into the ground?

[tacticalogic]

Ours.

Indeed. We need to stop giving authority to regulate everything to politicians who can's see past the next election.

[BGHater]

Ours. We as a country have a Negative savings rate. We also keep electing these people.

In the end it's our fault.

They Gov’t is no longer our Servants, but our Masters.

[sunmars]

Well who’s in charge of the Senate Banking committee, thats right Obama’s friend Chris Dodd.

[cripplecreek]

The fault of Washington but yes, by extension ours.

[montag813]

”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts,

PLEASE tell me we have video on this!

[John W]

We have a winner.

“The Real Culprits In This Meltdown”

http://www.freerepublic.com/focus/f-news/2083123/posts

[EagleClaw]

This needs a two-part response:

1. Democrats blocked meaningful reform of GSE oversight, proposed by Republicans, for years

2. And which presidential candidate has received (by orders of magnitude more than his opponent) large amounts of political contribution $$$ from them (and from all the major Wall Street players he decries on a daily basis)?

[Armando Guerra]

Great article that needs to be wide spread. Sadly, it sounds like the attempts to reform Social Security. Anyone with half a brain realizes that it is a Ponzi scheme that is bound to collapse. Yet, any politician who tries to even bring it up gets eviscerated by the Democrats, MSM and AARP. In another ten years when the SS system is broke we'll get the same crowds blaming Republicans for not doing anything about it.

[Eric in the Ozarks]

January 17, 2004
President Bill Clinton's Executive Order
Equal Credit Opportunity Act (15 USC 1691)

[John W]

Also covered in the article for this post.

[SierraWasp]

Gorelick’s, then Raines!!! They were catering to the caterwallering of the COMMUNITY ORGANIZERS!!!

[WackySam]

We as a country have a Negative savings rate

Pure BS. Do a little research on how the "savings rate" is determined and you'll understand why.

[BGHater]

I disagree.