Congressional Democrats protecting Fannie Mae & Freddie Mac on Video
This video is of a Congressional hearing (update - hearing is from 2004)where Democrats are saying everything is fine at Fannie and Freddie while Republicans are urging more regulation.
The video above has been on many blogs over last week. I just want to extend it’s exposure. It’ sinister that the Mainstream Media has gone along with the Democrats on the fallacy that the demise of the mortgage market is a fault of a lack of regulation.
This is a failure of the Democrat Congress going back to the mid 90’s. This failure cannot be hung on the back of Republicans.
h/t Thanks to Sarah Palin
after creating & protecting their nest eggs, now they must pretend to be our saviours. I do not think we can point to the democrats only. If the republicans realized how serious the problem is they should have been more vocal. I am ashamed of the Bush administration for not acting sooner. The entitlement society required making loans to people who could not pay the loans. Now under the bailout bill they will be forgiven for not paying the loans while I make payments for the next 30 years.
Of course I do not carry the burden of my ancestors coming over here in chains 250 years ago.
Comment by sam edmonsond — September 30, 2008 @ 2:47 pm