Posted on 03/06/2009 4:49:53 AM PST by IrishMike
The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn't afford them -- just like you would expect of socialists.
I send this UTube link quite often to a liberal friend and it really irks him. They hate these videos because they can’t deny-—and without the ability to deny they are nothing.
It wasn’t so much the lack of regulation as it was that the US government was doing everything it could to pump money into the housing market. Fannie and Freddie were tools for that end. They built a bubble and it popped.
With Obama and his minions playing the blame Bush game, it’s time that this becomes much more public. How can that be done?
ping
Leftists are pathologically incapable of even acknowledging - much less owning - their damage.
I already knew all that, but it was great hearing and seeing it again. I’ve sent it to eveybody on my list. Hope it gets sent all over the world.
“It wasn’t so much the lack of regulation as it was that the US government was doing everything it could to pump money into the housing market. Fannie and Freddie were tools for that end. They built a bubble and it popped.”
It seems to me that the thrust of the video was that R’s were warning that too much money was being pumped into the market, and the attempt to regulate the GSE’s was stymied by the Dems.
This was not, imo, a bi-partisan failure - this is all on the Dems, particularly Frank and Schumer, who promoted their social agenda without regard to the consequences Bush and the R’s were warning them about.
High Crimes and Misdemeanors. Class Action Suits. Mechanic’s Liens. Constitutionality fights.
In conjunction with the COBL suits (which are probably going nowhere, thanks to corrupt judges), all of the above.
This is why, as things spiral down, we’ll more about show trials of the previous administration’s conduct in Iraq...’cause it beats real trials of the current governing party.
Of course it is. From each according to his ability to each according to his need WANT.
What's going to happen to the dems agenda when there's no one left to steal money from?
Bump for later
A video can be manipulated to be anything. Why is it that I do not recall any Bush/McCain warnings about the lending and financial industries—ever? I follow politics closely. I remember nothing appearing anywhere in the public domain in the dealing with this topic.
Please spare me these self-serving revisionist history fairy tales. There is enough of that coming fromt he left.
And if these people who propagate this nonsense want to go down this path then they open Bush/McCain to the question: What did they know and when did they know it.
As far as I’m concerned they aided and abetted the demrat attack on capitalism. Witnessing a criminal act and not reporting it is aiding and abetting the act.
Would that be the same public domain - fed by the mainstream media - that ignored the questions about the Obamassiah's birth certificate, his connections to terrorists, and his admitted drug habit?
Shout what you want from the rooftops, but if the MSM decides it's not "newsworthy" (meaning that it fits their pre-ordained view of the world) it doesn't make news and most of the world never hears of it.
House Financial Services Committee hearing, Sept. 10, 2003:
Rep. Barney Frank (D., Mass.): I worry, frankly, that there’s a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios....
House Financial Services Committee hearing, Sept. 25, 2003:
Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .
What They Said About Fan and Fred http://online.wsj.com/article/SB122290574391296381.html
And still CRA is on the books, ACORN is getting hundreds of millions of taxpayer dollars.
There will never be another free election in my lifetime.
We are now, each and every one of us, nothing more than slaves for the collective. And when we are no lonfer productive we will become Solent Green.
Dugg.
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