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Politics : Politics for Pros- moderated

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To: Neeka who wrote (414455)	3/4/2011 3:30:43 PM
From: FJB	9 Recommendations Read Replies (2) of 794327

The Bush White House called for Fannie Freddie reform 17 times just in 2008. nicedeb.wordpress.com The White House Warned Congress About Fannie Mae Freddie Mac 17 Times In 2008, Alone September, 21, 2008 — nicedeb The White House attempts to set the record straight: (I’m copying this post from the White House webpage in it’s entirety because I want people to read the whole thing). For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President’s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

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