IT WAS POSTED IN RESPONSE TO ANOTHER ARTICLE BUT I THOUGHT IT DESERVED ITS OWN THREAD
I CANNOT FIND A LINK TO THE ORIGINAL STORY NBUT WE NEED TO FIND IT BEFORE THEY REMOVE IT
These same pompous jerks are now on TV saying it was Bush’s fault.
the democrats in congress were (are) in the back pocket of fannie and fred. It’s interesting, that Barney Frank and Chris Dodd, still do not want to limit Fan/Fred’s influence in the mortgage market.
This may be the link you are seeking:
The problem came from the government guaranteeing loans that no sane banker would make with his own money. Mortgages have had nothing resembling a free market for many, many years.
Congressman Billybob
Thanks.
The link is above and I have saved copies of that article and others from a Lexis/Nexis search. Interesting reading.
This IS the fault of Democrats from top to bottom.
President Bush and the Republicans TRIED to fix it before it turned into a problem but Democrats were too stupid or too worried about votes to fix it.
but ... but ... but ... I thought it was all Bush’s fault!?
WHERE THE HELL IS THE BULLY PULPIT ON THIS???!!!
Mr President, the new tone crap is KILLING US!!!
GOP, this should be pounded home again and again!
A NEW AGENCY? ONLY AFTER EVERYONE IS FIRED FROM THE OLD AGENCY THAT HA OVERSIGHT RESPONSIBILITY.
Still, the most damaging legacy of Fannie Mae's years of unchecked growth may not be evident until the next significant economic slump. Only then, argued Josh Rosner, an analyst at Medley Global Advisors in New York, will the effects of Fannie's relaxed mortgage underwriting standards be felt. A result could be a more pronounced downturn in the real estate market and more stress on the consumer.
The move to push homeownership on people that historically would not have had the finances or credit to qualify could conceivably and ultimately turn Fannie Mae's American dream of homeownership into the American nightmare of homeownership where people are trapped in their homes,'' Mr. Rosner said. ''If incomes don't rise or home values don't keep rising, or if interest rates rose considerably, you could quickly end up with significantly more people underwater with their mortgages and unable to pay.''
This story should be the primary focus of a Hannity’s America show, and, to counter the “spin” of the Democrats, it should be circulated and recirculated by every means possible during the next several days.
Ping for later.
WOW!!! excellent find.