CSPAN: Democrats ran interference for Fannie Mae & Freddie Mac
October 1, 2008 • (0) Comments
Barney Frank wants voters to believe that the Bush administration got us into the present financial mess. This is a toxic lie, as shown by these CSPAN excerpts from 2004 Congressional hearings on tighter regulation of Fannie and Freddie. Note that the Democrat members are challenging Republican’s attempts to raise alarms about a subprime-related housing meltdown and, in particular, excoriating government regulators for their testimony.
Selling America’s economy down the river started years ago and Democrats who would tell you that Republicans failed you are flat-out lying.
Here’s an excerpt from Rep. Maxine Waters (D-CA):
We’ve been through nearly a dozen hearings where, quite frankly, we were trying to fix something that wasn’t broke. Mr. Chairman we DO NOT have a crisis at Freddie Mac and, in particular, at Fannie Mae, under the outstanding leadership of Mr. Frank Raines.