To: Free in Texas
....and of course Fannie Mae/Freddie Mac are not private companies where any general anti-regulatory stance is justifiable.... they are govt-sponsored monstrosities awash in trillions of dollars due to laws passed by Congress, hold a large proportion of the mortgages issues in the USA.
Therefore, strict regulation of such entities was/is essential so long as they are allowed to exist.
Donilon was aggressive and successful in keeping the Raines empire going for as long as possible, until finally Raines was forced out and the govt took over Fannie Mae.
posted on 10/10/2010 8:30:36 AM PDT
("Baghdad Bob" would be the ideal spokesflunky for the Demagogue Party in 2010)
I don't what is worse, the fact that Fannie and Freddie were exempted from the latest round of “oversight” regulation, or the fact that the merry band of crooks that oversaw these disasters have been rewarded for their malfeasance with the usual bonuses and new plum assignments. In the private sector crap sinks and drowns. In the government sector crap appears to be a cream substitute and rises to the top to be rewarded again and again.
posted on 10/10/2010 9:12:59 AM PDT
by Free in Texas
(You a Hopey-Changey? How's it feel to be one of Obama's lap dogs? What if he quits feeding you?)
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