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Politics : The Trump Presidency
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To: zzpat who wrote (82452)7/10/2018 2:16:33 PM
From: pcstel  Read Replies (1) of 353996
 
"Republicans didn't do anything before, during or after the collapse. They showed us they're unamerican. You want to blame Democrats even though your party held control of the entire government for years before the collapse."

See link.

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation.


Don't the American people deserve to know that Democrat Barney Frank, then ranking member and now chairman of the House Financial Services Committee, said, " I want to roll the dice a little bit more in this situation towards subsidized housing"? Isn't the fact that the ranking Democrat in charge of oversight of Fannie Mae was in a sexual relationship with a high-ranking Fannie Mae executive a glaring conflict of interest? Isn't it worth noting that Democratic Rep. Maxine Waters insisted, "we do not have a crisis at Freddie Mac, and in particular at Fannie Mae, under the outstanding leadership of Mr. Frank Raines"? Shouldn't the American people know that Democratic Rep. Gregory Meeks insist that "there's been nothing that was indicated that's wrong with Fannie Mae"?


https://www.usnews.com/opinion/blogs/barone/2008/10/06/democrats-were-wrong-on-fannie-mae-and-freddie-mac
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