Skip to comments.Democrats' Silencing is Deafening -- John Gibson's Scathing Editorial
Posted on 09/19/2008 5:48:36 PM PDT by GVnana
Democrats' Silencing Is Deafening
Friday, September 19, 2008
By John Gibson
It looks to me like Fannie Mae and Freddie Mac the twin $1 trillion disasters were the creation of congressional Democrats and a Democrat White House.
So where are the Democrats? Why no news conferences explaining themselves?
Barney Frank who who insisted Fannie and Freddie had to buy loans made to the unqualified has had nothing substantial to say, though he did wisecrack yesterday in a Hi-Ho Silver voice: The "loan arranger" is on the way. He was referring to the administration riding in to save him.
Nancy Pelosi denied years of Democrat-sponsored easing of lending standards at Fannie and Freddie and simply said, no, not our fault.
Harry Reid over in the Senate promised Democrat action and immediately adjourned Congress to get out of town right away.
Bob Rubin, the Clinton economic genius who oversaw the launch of Fannie and Freddie drunken sailor's decade, stood with Obama today. Hhe's the one who went from the White House to Citibank where he lost a billion dollars.
John McCain is now running an ad pointing to Obama's link to Franklin Raines, the Clinton official who ran Fannie Mae and took a payday north of $50 million. Raines was reported by The Washington Post to be an Obama adviser on housing issues. But as soon as McCain's ad appeared, Obama rushed to deny Raines was any sort of adviser.
(Excerpt) Read more at foxnews.com ...
DA CHICCCCCKENS ARE COMING HOME TO ROOOOOOOSTA!
well, you know.
These dems are rather like cockroaches scurrying for the dark when the light shines on them.
This was a brilliant commentary. I loved watching it earlier this evening.
Frank, Dodd, Clinton, Kerry...
But Schumer was the ‘eraser’ and not long ago, Spitzer was his attack dog...
an even more socialist solution. These thieves cannot lose. Nobody, but nobody, has the backbone to say, "No more handouts." And our illustrious leaders print more money as we sink into the morass.
The Democrats did it, but the Republicans didn’t do much to stop it. People who can’t afford to buy houses can’t afford to buy houses. That’s life. Get used to it. Regrettably, people who can’t afford to buy houses don’t like to live in public housing, etc. either, because other people who can’t afford to buy houses make such places intolerable. We have more people in jail than most countries do, but more belong there and they belong there sooner. It’s their choice, after all.
“These dems are rather like cockroaches scurrying for the dark when the light shines on them.”
I could see a new McCain ad:
Obama’s plan - do we really want to use Fannie Mae as the blueprint for the nation’s economy?
McCain is letting Obambi and the MSM define the issue. McCain has a golden opportunity to explain the Dims’ complicity in this debacle and thus attack Obambi, but I have my doubts he will do it to any significant extent.
Realistically, lending standards were rather reasonable until about 2000-2001 then the slide started.
If it were me...I’d clean up Fannie and Freddie, then entirely privatize them in about 3 to 7 years.
Yup, got to hand it to the Pelosi team, so, so busily cleaning up corruption! All they did was stir the poop and now we’re getting the smell! /snark off
The “refi boom” had played out by the end of 2001, so to keep the $$$ flowing they had to lower the lending standards.
McCain warned about this in 2006 and wrote a bill, but the Dems killed it. That should get some play now, otherwise it’s back to “blame the Republicans.”
I know someone who owns a mortgage company, I know for a fact that they felt pressured to give minorities loans, most mortgage companies were afraid to deny minority loans. I saw some whoppers, they do everything they can to sell those loans immediately.
It wasn’t just minorities though, all the old rules of lending went out the window, people were “qualifying” for double and triple for what they would qualify for 20 years ago. As long as houses kept going up people could sell them, and well, you know the rest of the story.