We know they are all to blame.. and we are, too! We let them.
Every President wants to increase home ownership.
The 2003 Quote of the decade from Barney Frank (D)- “Fannie Mae and Freddie Mac are not in crisis.”
The 2003 Bill to step in and set up a Banking styled Regulator for Fannie May & Freddie Mac needed 60% support to get out of the House Committee and to the House Floor for a vote. The committee was made up of 20 members, 11 Republicans & 9 Democrats.
To get 60% to get the Bill out of Committee, the Republicans needed just one Democrat’s support. Not a single one of the nine would vote with the Republicans to get this Bill to regulate Fannie May & Freddie Mac out of Committee.
In 2003 Barney Frank, Maxine Waters, etc expressed utmost faith in Fannie May CEO Franklin Raines, however, on December 21, 2004 Raines resigned from his position as CEO of Fannie Mae after being charged with shifting of losses so senior executives, such as himself, could earn large bonuses.
Note that McCain, the GOP, Alan Greenspan, and Bush were all warning of this in 2001, 2003, 2005 and 2006. Legislation for reform and oversight of Fannie-Freddie was proposed and was blocked every time - on party line votes - by the Democrats. Ignoring it won’t change it.
Even better that you found it. Doing our side real good! Hey could you post some Pro-Obama You-Tubes links as well?
“Gingrich’s four-point plan includes:
(1) suspending immediately mark to market provisions (the accounting practice of valuing a financial position in an investment at its current market price) in the hopes of stopping the downward spiral in asset values and eventually replacing it with a three year rolling average;
(2) repealing immediately Sarbanes-Oxley, the 2002 accounting law Gingrich described as “an enormous drag on small business”;
(3) setting the capital gains tax rate at zero “matching the Chinese and Singapore” (to encourage private capital to flood into the market picking up properties without the taxpayers being at risk); and
(4) passing an “extraordinarily powerful” energy bill (”to return $500 billion a year to the American economy that are currently going overseas”).”
PC run amok.
See my tagline.
Man, that is heartbreaking to listen to.
I cringed when he said those things initially and here I was cringing all over again.
Yeah, I knew Bush had addressed this. The ADDI 2003 was the Bush version of the pile on when it looks good. Busha lso gave a speech where he was crowing about home ownership being super high and how good that was.
Bush has gone around the bend. Poor people should have mansions too, even if they cannot afford it. Uncle Sam will pay.
It’s up to the voters to rescue America. Free market solutions are the only solutions.
Hadn’t seen that...good to know.
It cannot be denied that in many aspects, the Bush presidency has been a disaster....he still sucks less than the democrats, but not by much.
Are their any honest leaders left in the Gov’t?
I can’t watch as I am behind a firewall.
Anything said by Bush after 2003?
The point is that every time you advocate liberal, race based democrat policies, you get failure. Bush “reached across the aisle” and advocated against common sense.
These policies are democrat ideas. I don’t see any democrats defending Bush for his championing of their policies.
I wonder if Franklin Raines was sitting there in the audience that Bush was addressing.
I told folks weeks ago Bush was up to his eyeballs in this shite too and got lambasted for it.
and I used to LOVE Bush
Very revealing video!
If you watch and listen to the talking heads(Hannity,Rush,etc.,,)they are still doing their damn best to hide these facts.They're still pointing to the other side and ignoring the plank in their own eye.Still carrying the water.
This should be no surprise to anyone who’s stayed reasonably informed since Bush took office. He has often crowed about the “ownership society” and that was echoed by many party spokesmen. He also bragged about the increase in minority home ownership often. Nothing new in that video.
Republicans are also culpable on some deregulation. I’ve thought since this crisis broke that the Dems. are about two-thirds responsible and Republicans one-third responsible. But McCain still needs to hit back harder where the Dems. are responsible, as they set in motion the laws and rule changes that resulted in so many loans to unqualified borrowers. Bush just kept it going and bragged about it.
What a disaster
Bush is a naive fool
Most of the democrats do things like this to get votes and keep their black base happy
Bush does it because he believes it
Well they say the road to hell is paved with good intentions
He is so OUT OF TOUCH
He actually believes the Compassionate Conservative crap
“Bust up these Beasts”: Steve Forbes bailout plan - break up Fannie Freddie monopoly status
http://www.freerepublic.com/focus/f-news/2093778/posts
And at some point in the future, the self-delusion by so many that these enormous and growing trade deficits are nothing to worry about will also explode into another realization of how stupid our policies have been.
But that will take more time.