Federal Government Was Culprit in Housing and Economic Crisis, Says Congressional Report

CNSNews.com ^ | July 8, 2009 | Fred Lucas

[Matthew James]

bttt

[pennboricua]

It is not the State Run Media that has an obligation to be all over this, it is the responsibility of our elected Republican leaders to have been all over this.

McCain while in Wisconsin campaigning was forced by an irate member of the audience to name names as he promised to do, and only once named Franks and Dodds with direct involvement in the housing fiasco.

With as many You Tube videos of Dodds and Franks and many members of the Black Caucus denying reforms for Freddie and Fannie the smoking gun has always been available to our fearless leaders, but alas we have not had a leader for a long time.

Hopefully that will soon change.

[raybbr]

The report argues that lowered lending standards were the cause of the housing crisis and did not exempt the Republicans or the Bush administration from blame. It said placing certain lending quotas for under-served populations allowed “both Democratic and Republican administrations to consistently make campaign promises to boost homeownership through government intervention in the market.

Consequently, under both the Clinton and Bush administrations, HUD dramatically increased these quotas, which reached their zenith when the Bush administration raised them to 56 percent, 27 percent and 39 percent, respectively.”

What we've been saying all along. Maybe now some of those that excoriated us will finally believe.

[DarthVader]

BTTT.

[Gargantua]

"With as many You Tube videos of Dodds and Franks and many members of the Black Caucus denying reforms for Freddie and Fannie the smoking gun has always been available to our fearless leaders, but alas we have not had a leader for a long time. Hopefully that will soon change."

Change it will, indeed. She's coming, and she won't be stopped. America is trembling with its need for her, and Zero-bama is rolling out her red carpet.

Go git 'em, Sarah. We're right there with you.

;-/

[DHC-2]

With the rats in control of everything, nothing will be done to rectify this...

You are right, but it looks like these people tend to make the SAME mistake AGAIN. The Banking Queen wants more subprimes and the Present wants another stimulus. I think Einstein had a quote on this about stupidity being doing the same thing over and over and expecting a different result.

[Leo Carpathian]

Sarah can start with this subject and proceed to cleanup RINOs and RATs, scream, scream, scream!!!

[Techster]

Thanks for the thread. Great information that confirms what many of us thought.

[snowsislander]

Thanks for the links to the actual report.

[A.Hun]

http://www.ibdeditorials.com/IBDArticles.aspx?id=314582096700459

[BruCru]

ping

[raybbr]

http://www.ibdeditorials.com/IBDArticles.aspx?id=314582096700459

What's your point?

[katiekins1]

Excellent post

Thank You

[Walmartian]

Bump for when I get out of bed.

[RebelTXRose]

Can they print this ONE SENTENCE and put it in the mail to ALL? Maybe enough of the obamabots will read it and — nevermind — they’ll never understand...

[litehaus]

AGAIN !!!! For a memory wake-up-—————

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.

Barack Obama the largest recipient of political funds from mortgage giants Freddie Mac, Fannie Mae.

[AnglePark]

Too little, too late. This is just another example of “we’ll do what we want and ask forgiveness later.” They knew it was happening all along, and this report is the first step in them “asking” forgiveness.

That mindset is rampant among those “in charge”. I once worked at a major university, for one of the most prominent executives on campus, and he would continually say, “who cares — we’ll do what we want and ask forgiveness when we’re caught.”

[A.Hun]

The same point as the editorial...trying to make Bush and Republicans as responsible for the FM/FM mess as the Democrats is the MSM spin, and repeating it makes Issa nothing more than a tool for the Democrats.

[raybbr]

The same point as the editorial...trying to make Bush and Republicans as responsible for the FM/FM mess as the Democrats is the MSM spin, and repeating it makes Issa nothing more than a tool for the Democrats.

Okay, ignore the facts. I don't really care anymore. Some people refuse to see the truth. They were ALL responsible. Bush included. Go read his speeches about using tax dollars to subsidize down payments for these loan. Go read in his speeches about home ownership for these people who couldn't afford it.

[Phantom Lord]

self bump