Bush Proposed Fannie Mae / Freddie Mac Supervision In Sept 2003

New York ^ | Sept 11, 2003 | STEPHEN LABATON

[tallyhoe]

A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac. Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.

[1035rep]

“…He put Fannie Mae’s [former] CEO, who helped create this problem in charge, of finding his vice president. That’s not change — that’s what’s broken in Washington,” said McCain.

[tallyhoe]

Carl Rove was on Hannity and Colmes tonight slamming these guys and naming names! He said Bush went to congress about Fannie Mae and Freddie Mac. But guys like Barney Frank and Chris Dodd killed the measure! Some Liberal Republicans were with the Dems.

[puroresu]

Intelligent people will see that this crisis was caused mostly by leftist Democrats, but the sheeple who get their news from the MSM will be told that it's the GOP's fault. If a hurricane hits a city, and the local Dems don't evacuate it, and don't allow FEMA in for two days, it's the GOP president's fault. If leftists give out home loans to Democrat voters who lack the means to pay them back, and this causes a financial meltdown, it's the GOP president's fault.

That's the way it will be unless the GOP fights back. Bush just sat there and let himself be blamed for Katrina. If McCain just blames this meltdown on generic "Wall Street" types without identifying the culprits, including Gorlick, Schumer, Dodd, Frank, and Obama's crony Franklin Raines (the Ken Lay of Fannie Mae), then the very people who caused the crisis will benefit politically from it.

[STARWISE]

I never saw you before this post.
And I already I’ve formed a very
bad opinion of you.

If there’s anything I can’t stand
it’s a FReeper with BDS.

Sad. We might’ve been FRiends.

Please don’t respond back to me.

[Chaguito]

Thanks for the info. I was at grandson’s birthday party. Glad someone is naming names.

[STARWISE]

Selling their souls and our solvency for Fannie/Freddie cash.
TERM LIMITS!

[1035rep]

bttt

[puroresu]

Shout it loud from the rooftops: Obama’s pal Franklin Raines is THE KEN LAY OF FANNIE MAE!

[farmer18th]

You’re pathetic. You don’t want a dialogue. You’re little post to the Admin is the sort of whining I’d expectr from a RAT.

[STARWISE]

This must get out .. please ping your lists. Thank you .. ;)

[STARWISE]

Pass it on ..BTTT!

[1035rep]

This must get out .. please ping your lists. Thank you .. ;)

Please ping your list Norman.

[NoLibZone]

The U.S. Department of Housing and Urban Development (HUD) has oversight responsibilities for the housing mission of Freddie Mac.

Under the GSE Act, Freddie Mac also must obtain the approval of the Secretary of HUD for any new programs we undertake that are significantly different from programs that have been previously approved.

[STARWISE]

Pass it on ~~PING!

[nutmeg]

Yup! An now Raines is going to be able to do it again if Obammie is elected by the Obamanoids.

Exactly. One of a zillion reasons why Barack Hussein Obama MUST NOT become President.

[tallyhoe]

Me Too!

[nutmeg]

Wow... good stuff. I’ll ping everyone I know here... thanks!

[nutmeg]

Excerpt:

A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac. Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.

[1035rep]

bttt

[STARWISE]

Thank you !