- Mar 11, 2015
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Fannie Mae collapsed shortly after democrats took control of congress during Bush's 2nd term. Barney Frank became chairperson of the banking committee with responsibility for Fannie and he told America that Fannie was fine and solvent. Fannie collapsed under Frank's leadership or lack of it and nobody in the mainstream media ever asked him what the hell he was doing. Today democrats are back in the majority in congress and instead of doing their jobs regarding the budget and the border they sit back and try to undermine the administration. They would have gotten away with it under a weak president like Bush but Trump is a strong willed president and they hate him for it.
Fannie & Freddy did not cause the crash.
Democrats had passed over 2,000 bills. Gramm-Leech-Blilley deregulated the financial services industry deleting the protections create by Glass-Steagall. The Fannie and Freddy story is a load of crap and Alan Greenspan testified to congress about what caused the crash and nothing he said referred to Fannie and Freddie. Republicans caused the crash. Period.