Skip to comments.Judd Gregg: Dems Still Want “Lending to Just About Anybody Who Wants a Home” – Video
Posted on 05/25/2010 3:07:55 PM PDT by Federalist Patriot
Here is video of Sen. Judd Gregg on CNBC today where he placed the blame for most of the U.S. financial crisis squarely at the feet of the Democrats. Gregg was asked about the so-called Financial Reform bill, which he described as a disaster because it does nothing about reform of Fannie Mae or Freddie Mac.
Thats where Gregg drew the link between the Democrats and the economic crisis:
The problem was created by the Congress. It was the Congress that told Freddie and Fannie to radically expand their securitization efforts. It was the Congress which said Forget your standards Go out there and lend to anybody who wants a home and securitize it for them. That was purely at the initiative of the Congress. In 2005, Richard Shelby brought to the floor a reform package which, had it passed at the time, would have avoided almost all the problems weve had with Fannie and Freddie. . . . . There is still an attitude in the Congress which says we should be pushing out lending to just about anybody who wants a home ..Its still the philosophy of the majority party.
The majority party the Democrats love to blame all the ills of the world on George W. Bush. But their philosophy of making home ownership a right in large part brought us to where we are today, and it sounds like they have not learned a thing from this crisis. Thats why they need to become the minority party, and this time, the Republicans need to govern with true conservative principles.
(Excerpt) Read more at freedomslighthouse.com ...
The destructive sickness of radical liberalism. And liberal vote-pandering.
>> The majority party the Democrats love to blame all the ills of the world on George W. Bush. But their philosophy of making home ownership a right in large part brought us to where we are today
To be fair, Mr. George W. Bush was in large part to blame for pushing home ownership to pretty much anyone with a pulse.
Don’t believe me? Watch this:
Just last week Sen Corker asked why loan standards weren’t tightened and some idiot liberal (maybe Dodd) responded that because then only people who could afford houses could buy them.
I thought the Civil Rights Act of 1964 promised a free house to anyone who wants one.
Very true. Bush and an overly compliant Congress set the Republicans back decades. The damage is going to be difficult to undo quickly. However, 0bama and the dems are helping out in a dramatic way, and closing the gap.
It still sickens me how the opportunity after the victory in 2004 was totally squandered. Bush won reelection, the republicans expanded their majorities in Congress, then they go on ‘autopilot’. I believe their push for amnesty was the straw that broke the proverbial camel’s back.... Who knows...
>> I believe their push for amnesty was the straw that broke the proverbial camels back....
I’ll never forget how pissed off I was when the (R)s were trying to ram amnesty down our throats. That definitely soured me on the lot.
But I think the straw that broke the camel’s back was the rush to bail out the very financial system that screwed us over (can you say “moral hazard”?), instead of letting it crash, paying the piper and picking up the pieces.
After the cynicism shown us by Bush and Paulson and the US Senate, Bambi’s cynicism was anticlimactic.
A pox on all of them.
Instead, idiot McCain, and the rest went along with it, and we were left in the gutter, with more bailouts yet to come.
>> McCain could have EASILY stood up and opposed the bailouts, and had a plan of his own.
EXACTLY! He sealed his fate the day he rode back to washington on his white horse of leadership... and proceeded to dismount and kiss Paulson’s feet.
I though he was such a maverick!?! The one time being a maverick would have benefitted him (and US), and the douchebag went all in for the status quo.
I have always liked Sen. Judd Gregg. He tells it as it is. He should be a big help to the incoming REP. Pres. in Jan. 2013
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