Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings

Gateway Pundit | September 21, 2008

[Zakeet]

For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.

Unfortunately, Congress did not act on the president's warnings:

[PGalt]

A musical interlude for this madness...

http://www.youtube.com/watch?v=FmBDIj2fbB8&feature=related

...politicians/morticians BUMP!

[Pagey]

GREAT POST BUMP!

[dragnet2]

Interesting, considering that in 2002 President Bush Promised 440 Billion Additional Dollars for Freddie and Frannie mortgages for minorities.

He was duped.

LOL!

Did the dope get roped?

How did this happen?

This is the guy that had a secret plan and super strategy for everything according to what is left of his fans.

And now that the economy is cartwheeling down range, you're saying Bush was duped?

This crap is so deep one needs snow shoes...

If truth were a 50,000 ton ball of silver, ya couldn't find it here with a metal detector.

[Salvation]

This is part of the outrage I was feeling yesterday!

[Seattle Conservative]

Thanks!

[syriacus]

Everyday that this crisis lingers on, many more people are learning that Bush called for reform.

Here's a google search Google search on: bush 17 times reform "fannie mae"

Results: about 731,000

[anglian]

I read somewhere that every time someone clicks on google, it puts advertising $ to democraps.

[syriacus]

Thanks for the idea. I tried Yahoo's search and got even more hits.

1,280,000 results for: Bush 17 times reform "Fannie Mae"

[Diamond]

bttt

Cordially,

[syriacus]

Bush asked for education of the low-income homebuyers [housing counseling; what housing is possible, what to avoid; how to avoid unscrupulous lenders]

On June 17, 2002 Bush said:

And so, therefore, education is a critical component of increasing ownership throughout America. Financial education, housing counseling, how to help people understand that there are unscrupulous lenders. And so one of the things we’re going to do is we’re going to promote education, the education of owning a home, the education of buying a home throughout our society...

The Neighborhood Reinvestment Corporation will dramatically expand financial and home buyer education efforts to 380,000 minority families.

We’re beginning to use the Internet better, so that realtors all across the country will be able to call up programs all designed to help minority home buyers understand what’s available, what’s possible, and what to avoid.

[murdoog]

Thanks for that. Pre-”fly like an eagle” Steve Miller Band is always a treat, and was much needed amongst the haste and noise on this thread.

[Bellflower]

RNC needs to make an ad. Since 2001, Republicans have repeatedly called for housing government-sponsored enterprise (GSE) reform. Each time Democrats in Congress emphatically denied there were problems. In 2005, Senator John McCain partnered with three other Senate Republicans to reform the government’s involvement in lending. Democrats blocked this reform, too. Not only did democrats not act on these warnings but Barack Obama put one of the major Sub-Prime Slime (Pritzer) on his campaign as finance chairperson.

I totally agree. We need to get this out. Has Hannity, Rush etc. broad casted this? Do they understand that the Republicans tried to prevent this over and over but the Dems stopped the progress? I think the Dems wanted things to fail so they could blame the Republicans and Bush.