RUSH:...Can I translate that for you? Franklin Raines was a Treasury employee, some sort of cabinet secretary in the Clinton administration. He ends up at Fannie Mae and pays himself a hundred million bucks from 1999 to 2005, and they finally had to get rid of him because the scandal could not be contained. Democrats propped up this, Carly! Bush didn't do any of this. "Other Clinton cronies, including Janet Reno aide Jamie Gorelick, padded their pockets to the tune of another $75 million." Gorelick again. "In the end, Fannie had to pay a record $400 million civil fine for SEC and other violations, while also agreeing as part of a settlement to make changes in its accounting procedures and ways of managing risk. But it was too little, too late. Raines had reportedly steered Fannie Mae business to subprime giant Countrywide Financial, which was saved from bankruptcy by Bank of America." Hello, Mr. Chris Dodd, number one receiver of campaign contributions from Fannie Mae. "At the same time, the Clinton administration was pushing Fannie and her brother Freddie Mac to buy more mortgages from low-income households. The Clinton-era corruption, combined with unprecedented catering to affordable-housing lobbyists." (cont.)
Even Robert Reich admits Democrats are to blame.
You Can Say It, Ms. Fiorina: Democrats Caused Mortgage Mess
Barack Obama: Sitting Duck58 posted on
09/17/2008 10:18:06 AM PDT by
Miss Didi
("Good heavens, woman, this is a war not a garden party!" Dr. Meade, Gone with the Wind)