the administration specifically wanted to add regulation because they knew fannie mae did not have enough capital and was at risk they did not know that obamas cronies like raines and johnson were cooking the books
did you read?
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios
Thanks for helping to straighten out some of the democrat created myths! This ‘speech’ is making the rounds on all of the left-wing blogs and at some point, you have to wonder why?
It’s a deflection created by democrats and used by democrats because that’s all they have! That it keeps getting posted on FR is outrageous imho! Every other day..it pops up! (eye roll)