ShaklesOfBigGov
Restore the Republic
- Nov 19, 2010
- 5,077
- 749
More righie idiocy ... remind me again .... which party controlled the Congress in 2003 and 2004 ... ? Remind me again how the minority party prevented the majority oarty from passing oversight of the GSE's ... ?Your ignorance never ceases to astound me. "Harry/Pelosi/Dodd/Frank" were in the minority party when the vast majority of the toxic loans were being written.
4 members of the minority party did not prevent the majority party Republicans from passing the oversight of the GSE's which could have prevented the financial meltdown.
It's hysterical how you brain-dead righties continuously point a guilty finger at 4 members of the minority party while ignoring the majority party whose policies led to the collapse.
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You're kidding, right?
September 2003
Rep. Barney Frank (D-Massachusetts): "These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis. . . . The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
October 2003
Fannie Mae discloses $1.2 billion accounting error.
October 2004
In a subcommittee testimony, Democrats vehemently reject regulation of Fannie Mae in the face of dire warning of a Fannie Mae oversight report. A few of them, Black Caucus members in particular, are very angry at the OFHEO Director as they attempt to defend Fannie Mae and protect their CRA extortion racket.
Rep. Maxine Waters (D-California): "Through nearly a dozen hearings where, frankly, we were trying to fix something that wasn't broke."
Rep. Maxine Waters (D-California): "Mr. Chairman, we do not have a crisis at Freddie Mac, and particularly at Fannie Mae, under the outstanding leadership of Mr. Frank Raines."
Bloomberg writes, "If that bill had become law, then the world today would be different. . . . But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter. That such a reckless political stand could have been taken by the Democrats was obscene even then."
Archived-Articles: Why the Mortgage Crisis Happened
Are these the same liberals who want to blame a minority party for Nancy Pelosi losing her seat when Democrats failed to provide jobs with an increase in the unemployment rate to 10% during Obama's first term? It seems that the Democrats are "conveniently" quick to blame Republicans, who didn't control the legislative OR executive branch at that time, for standing in the way of aiding in the liberal plan to turn this country around. It appears the voters were right, and having the Democrats in control of both branches of government only helped in pushing their ideological dream list (like the Affordable Care Act) and not with what the voters had REALLY needed - jobs! So out goes Nancy Pelosi as Speaker of the House.