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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (655400)5/19/2012 7:00:43 PM
From: i-node3 Recommendations  Read Replies (2) of 1578701
 
Ted, you ignorant slut.

Yes, it is true -- Bush put about 250 Million into this project (about half what we wasted on Solyndra).

As to Freddie & Fannie:

In 2004 the Bush administration moved to regulate Fannie & Freddie, even getting a bill through the Banking & Finance Committee, only to have it filibustered by none other than CHRIS DODD.

After Dodd's filibuster, in the years 2005 through 2008 they bought as much debt as they had in their ENTIRE FIRST 30 YEARS of existence.

From a NYT story in 2003

"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.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates."

So, Chris Dodd STOPPED THIS LEGISLATION.

And you want to BLAME BUSH for the Real Estate crisis?
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