Fanny and Freddy was the cash cow of the democrats, and this is why they refused to regulate it. Of course the left wing media failed (as usual) to report the facts, just as YOU have failed to research the facts.
In 2003 Bush warned of the impending sub-prime mortgage problem and the housing bubble it will create. Democrats, lead by the slobbering Barney Frank, block the Republican legislation that creates oversight for the market, and tightens lending practices.
2005, John McCain tries again to get legislation up for a vote that will help avert the housing crisis. Again, the Democrats block it.
In September 2003, Barney Frank, then the ranking Democrat on the Financial Services Committee, opposed the Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise the GSEs (government sponsored enterprise) Three months before the economic crash, Barney Frank publicly announced that concerns over Freddie & Fannie were unfounded. Rather than admitting that this was the cause of the economic crash, the Democrats condemned Wall Street and big business and the previous administration, claiming that Bush's administration opposed regulation. Pelosi made 38 million, Chris Dodd made 56 million, and barney Frank made close to 100 million. The main stream media says nothing......until Newt comes along.
Gingrich worked as a consultant for F&F. He refused to do ANY lobbying or deal with congress. He was a well paid consultant, earning 17,000 a month. This is a reasonable salary for a former speaker of the house in a consulting position.
Fanny and Freddy was the cash cow of the democrats, and this is why they refused to regulate it. Of course the left wing media failed (as usual) to report the facts, just as YOU have failed to research the facts.
ReplyDeleteIn 2003 Bush warned of the impending sub-prime mortgage problem and the housing bubble it will create. Democrats, lead by the slobbering Barney Frank, block the Republican legislation that creates oversight for the market, and tightens lending practices.
2005, John McCain tries again to get legislation up for a vote that will help avert the housing crisis. Again, the Democrats block it.
In September 2003, Barney Frank, then the ranking Democrat on the Financial Services Committee, opposed the Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise the GSEs (government sponsored enterprise)
Three months before the economic crash, Barney Frank publicly announced that concerns over Freddie & Fannie were unfounded.
Rather than admitting that this was the cause of the economic crash, the Democrats condemned Wall Street and big business and the previous administration, claiming that Bush's administration opposed regulation. Pelosi made 38 million, Chris Dodd made 56 million, and barney Frank made close to 100 million. The main stream media says nothing......until Newt comes along.
Gingrich worked as a consultant for F&F. He refused to do ANY lobbying or deal with congress. He was a well paid consultant, earning 17,000 a month. This is a reasonable salary for a former speaker of the house in a consulting position.