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.
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.
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.
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.
They destroyed Fannie Fraud and that is why we are where we are. Nobody is willing to find out what happened and regulate. Rather we are expanding the program that caused this crisis.
Pray for America, Our Troops and obama’s Guidance
New York Times 2003: The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.... Freddie and Fanny - Oversight and overspin
Pop quiz - who identified and tried to fix what presently ails Freddie Mac and Fannie Mae 5 years ago?
http://www.qando.net/details.aspx?entry=9323
Another way to look at it is even if (the Bush Admin ) did warn democrats as in video says when republicans were in power, they (Bush admin) still encouraged us to run out and buy houses and cars and stocks as the prices of those went higher and higher when they told us how great the economy was . Bush could of warned us long before the peak to slow down buying, that there was a major problem brewing. That would have caused him short term political problems but have saved us from this disaster.
I posted this video a few days ago, Bush is at the end:
George W Bush May 17,2002 on TV address:”Freddy Mac will launch 25 different initiatives to eliminate home-ownership barriers. Under one of these, consumers with bad credit will get mortgage with an interest rate that automatically goes down after a period of consistent payments… I’m serious about this. This is a very important initiative for all Americans, a chance for us to empower people ….” at: Voices of Freedom: Ron Paul, Peter Schiff, and Jim Rogers school Obama, Bush, Bernanke, and Paulson
ditto dools007 comment # 16
bttt
B-U-M-P everyone’s accusing me
Ping for later.