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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: FJB who wrote (57206)12/30/2008 12:57:27 PM
From: JakeStraw4 Recommendations   of 224750
 
How about Senator Christopher Dodd's efforts to kill reform at the same time he received more political contributions since 1989 from Fannie and Freddie combined than any other politician. In August 2007, despite warnings from the housing market and the Bush Administration, Dodd blocked efforts to regulate the mortgage powerhouses, while securing for himself a below-market mortgage through which he personally saved an estimated $75,000 on payments for two homes.

Liberal senators, particularly Senate Majority Leader Harry Reid, who was previously involved in fighting against regulation of Fannie Mae and Freddie Mac and even wanting an expanded role for the institutions. Yet since 2004, democrats in Congress have been aware of regulators accusing Fannie Mae of fraud by concealing expenses to make its profits look bigger.
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