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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: allatwwk who wrote (23547)	9/26/2008 12:23:24 AM
From: RMP	3 Recommendations Read Replies (1) \| Respond to of 25522

Here's an article on some of the history..(a demonstration of Law of Unintended Consequences ?) ibdeditorials.com snips: President Bush in 2003 tried desperately to stop Fannie Mae and Freddie Mac from metastasizing into the problem they have since become. Here's the lead of a New York Times story on Sept. 11, 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." Bush tried to act. Who stopped him? Congress, especially Democrats with their deep financial and patronage ties to the two government-sponsored enterprises, Fannie and Freddie. McCain also called for badly needed reforms to prevent a crisis like the one we're now in. "If Congress does not act," McCain said in 2005, "American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole." At the bottom of the article is a chart of the TOP 25 recipients of Fannie Mae and Freddie Mac campaign contributions, 1989 - 2008.