Posted on 09/17/2008 10:01:15 PM PDT by tallyhoe
A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac. Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.
(Excerpt) Read more at query.nytimes.com ...
What is ridiculous are the Bush Haters on this forum pretending to Republicans and taking shots at him when he tried to do what was right.
~~~
... nor how much much their malicious
ignorance and vicious sniping stains
this site.
AND TERM LIMITS!!
Excellent point! And the same insurance (health and otherwise) and social security policies that Congress enjoys should be ours as well. If they don’t agree...we insist they take on our same coverage...and see how fast they change their minds!
What is REALLY pitiful is that this is NOT NEW news.... I remember when this was being put together by the admin and when Snow came out talking about it and how the demonrats were seething at he teeth and calling Bush and the admin a bunch of racists trying to deny Americans their “American dream” of owning a house.... AND NOW all of these DEMONRATS are trying to escape culpability, go on ANOTHER recess and push this off until AFTER the election. Now I ask you all.... just IMAGINE what it will be like if the DEMONRATS have control of the Whitehouse and the HALLS OF CONGRESS. This rant is a typical REACTIVE RANT... where was EVERYBODY in 2003???????????
Great idea; Put a fresh coating of sh** over an old bloated, diseased, turd. /angry sarc
The Democrats are experts at pandering.
If you are a Pub, as you claim, you realize Pres. Bush is not running for reelection.
John McCain is the nominee. McCain, the guy who has not taken an earmark. McCain, the guy who has not voted for any tax increases. McCain, the guy who remained calm and steady when this financial mess first broke. McCain who sensibly said the best way to deal with this mess is with an independent commission (do you really think a Rat congress will admit and correct all the things they did to cause this problem).
I learned a long time ago it's better to look forward if that's the direction you want to go.
When did you hear me defending McCAin? I wish he’d step out of the way and let Palin be the man.
BTTT
My best regards to both you and your fetching trophy wife!!!
I understand McCain/ Palin’s campaign plan requires they distance themselves from Bush. However, when Bush gets something right, they need to support him, and take advantage of the low Congressional approval ratings and place the blame on Pelosi’s house.
They could simply take this opportunity to say that it was Obama and his party who killed the necessary regulation several in Congress hoped to put in place to prevent this sort of problem.
Thanks for the ping!
“If you think GWB was a Republican, in anything but name, you really are an idiot. “
Look in the mirror, fool.
Idiots like you are one of the reasons we didn’t get regulatory reform, social security reform and permanent tax cuts. Too excited at the prospect to insult a President to understand the reality of the issues.
Bigger govt and regulation? Yeah thats the ticket. Whoopie. No possibility of ABOLISHING these types of monstrosities huh Dubya.
bookmark
I am holding my breath watching this all unfold.
I am not optimistic that the true perpetrators of all this will get caught; at least not now.
But this Freddie Mac stuff is nought but a way for the House of Lords to bribe, manipulate and spindle their grip on power. It is their own bank.
I worked for a company whose service was going out and finding “community reinvestment” spots for banks. I tell you, it was such a lush and ripe vehicle for bribes. Cities would put in for waterfront projects, sports complexes, affordable housing.
Banks had to, to remain in business, “reinvest” in the community. They actually had to hire a company to investigate where to reinvest.
It’s a concept that, obviously, didn’t work. So they decide, under the guise of helping the poor to own their own homes, come up with this “lend anybody money to buy a house...don’t worry, we’ll back up all defaults” strategy.
A concept that will, obviously again, collapse like any pyramid scheme.
Only those who used this vehicle to purchase voters via such dynamite groups as Rainbow Coalition and ACORN, giving commissions to “community organizeers” who bought in the likes of Crystal the Stripper and Butch her Pimp as new homeowners....it’s how it worked. It’s a tawdry system and what scares the living hell out of me is that it will never, not ever, stop.
The fed will back up the losses as this was, and is, the plan. Those who steal from this trough know and count on this.
Only one thing would ever stop this thing, essentially White Water on steroids, and a lot of folks would go to jail yes they would, is for the OPPOSITION party to grow a pair and clean it up.
Bush evidently tried it in 2003 but the country wasn’t paying attention then. The Dems might pull off the political coup of the century....steal billions for vote purchasing and incumbent protection, get the taxpayers to pay....AND successfully blame it on the Republicans!
And this will happen because, as always, the Republicans will do nothing about it.
Someday us peons will have representation in our congress. Someday the Republicans might do the right thing.
Well, McCain has finally done something about the Fannie Mae stuff:
“Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie Mae’s CEO who helped create this disaster in charge of finding his Vice President. Fannie’s former General Counsel is a senior advisor to his campaign. Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didn’t lift a hand to avert this crisis. While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments. That’s not change, that’s what’s broken in Washington.”
Did this proposal pass the House? The GOP controlled the House when this article came out.
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