Lester CaudillFinancial Crisis who's really to blame?
October 28th 2008 09:10
Well let us take a look at what went on, who did what. Democrat Barney Frank said five years earlier that Fannie Mae, and Freddie Mac were not in crisis. Democrat Maxine Waters said under the outstanding leadership of Frank Raines everything under the 1992 act has worked just fine.
Democrat Gregory Meeks there has been nothing that is fundamentally wrong with Fannie Mae. And Barney Frank also said that we see equities that are fundamentally sound financially, and that they would withstand financial disaster scenarios, and even if there was a problem the Federal Government doesn't bail them out.
Three months after taking office the Bush Administration raised concerns, and warned of problems with Fannie Mae and Freddie Mac in April 2001. Senators Elizabeth Doyle, John Sununu, and Chuck Hagel introduced a strong reform bill, and was backed by Republicans in 2005.
All the democrats on the Senate Banking Committee were solidly against it, while John McCain and 19 other Republicans Senators signed a letter demanding oversight of Fannie and Freddie. That's why we are in this financial crisis, because democrats were blind and stupid.
Now you know who is to blame, and it's not John McCain and the Republicans. I think the democrats owe an apology to Republicans, and the American people.
Democrat Gregory Meeks there has been nothing that is fundamentally wrong with Fannie Mae. And Barney Frank also said that we see equities that are fundamentally sound financially, and that they would withstand financial disaster scenarios, and even if there was a problem the Federal Government doesn't bail them out.
Three months after taking office the Bush Administration raised concerns, and warned of problems with Fannie Mae and Freddie Mac in April 2001. Senators Elizabeth Doyle, John Sununu, and Chuck Hagel introduced a strong reform bill, and was backed by Republicans in 2005.
All the democrats on the Senate Banking Committee were solidly against it, while John McCain and 19 other Republicans Senators signed a letter demanding oversight of Fannie and Freddie. That's why we are in this financial crisis, because democrats were blind and stupid.
Now you know who is to blame, and it's not John McCain and the Republicans. I think the democrats owe an apology to Republicans, and the American people.
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Comment by katyzzz
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But the 'status quo' have a lot to answer for too.
What has happened to the great American dream? it's turned into a nightmare.
That's a shame, Lester.
Comment by Lester Caudill
Round Politics
My country is in shambles because of a few greedy politicians, and their cronies, like Freddie, Fannie, and ACORN. Instead of making these companies liable, they were rewarded.
Comment by S.L.
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Comment by Nevar
ad hominem
the inner sanctum
fire in your eyes - ink in your pen
Writers Challenge ~ 2008
Comment by S.L.
The Political Brief
Comment by Nevar
ad hominem
the inner sanctum
fire in your eyes - ink in your pen
Writers Challenge ~ 2008
Comment by S.L.
The Political Brief
Comment by Nevar
ad hominem
the inner sanctum
fire in your eyes - ink in your pen
Writers Challenge ~ 2008
Comment by Lester Caudill
Round Politics
S.L. and Nevar if we make enough noise maybe just maybe someone will listen.
Comment by S.L.
The Political Brief
Comment by Anonymous
How, exactly?
Comment by S.L.
The Political Brief