Posted on 09/20/2008 8:09:40 PM PDT by Texas Songwriter
Congress says it likely will adjourn this month having done nothing on the most important issue in America right now: the financial meltdown from the subprime lending crisis.
Can Congress just walk away from a problem it helped create? Maybe, maybe not.
Got a link?
IBD editorials should be excerpted.
Hopefully you did not include the URL on purpose to bypass this requirement.
(in before the mod).
Oops, I guess not. Here's his/her link.
A tiny and very important excerpt:
But the fact is, President Bush in 2003 tried desperately to stop Fannie Mae and Freddie Mac from metastasizing into the problem they have since become.
Here’s the lead of a New York Times story on Sept. 11, 2003: “The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.”
Bush tried to act. Who stopped him? Congress, especially Democrats with their deep financial and patronage ties to the two government-sponsored enterprises, Fannie and Freddie.
It even sounds like a hooker and her pimp.
They should walk and let the banks go under. But the best course would be to reinstate the bank regulations they have removed in the last twenty years.
No the gay gal and her butch!!!
They should all resign. ALL OF THEM.
This bail-out legislation is the BIGGEST FRAUD IN HISTORY: $700 billion is being bilked from the American people to be shared by the world’s biggest banks.
Why were the meetings held in secret? Why is Congress adjourning abrubtly? Why does this have to be done immediately?
Because the plan will not hold up to scrutiny.
Paulson (former CEO of Goldman Sachs) wants to frighten congress, the media, and the people into acting without having time to collect information to discuss the probable repercussions.
This is the biggest scam in history!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.