Posted By:
CoreyRS.hanus"BY 2003 BUSH AND GREENSPAN WARNED FREDDIE MAC & FANNIE MAE TO CORRECT THEIR IRRE-
SPONSIBLE LENDING PRACTICES. AND, IN 2006 McCAIN WROTE A LETTER (publicly available to
anyone with an open mind willing to read it)....FURTHER WARNING THIS INSTITUTION TO CLEAN
UP THEIR OPERATION.
DEMOCRATS BARNEY FRANK AND CHRIS DODD (ALONG WITH PELOSI AND REID) FOUGHT THESE
WARNINGS, WHILE TELLING EVERYONE THAT FREDDIE MAC & FANNIE MAE WERE RESPONSIBLE
INSTITUTIONS."
Thank you Ted for exposing some basic truths that unfortunately few seem to care about. As much, if not more than anything else, these lending practices by Freddie Mac and Fannie Mae have created the mess we are in today, and the precarious financial position of much of the middle class. And the reason these practices took place is because of Democratic policies and fundamental lack of understanding of their implications.
There seems to be a good political lesson lurking in this election. The way back into the White House is for the party currently out of it to by its policies deliberately tank the economy. So when the next presidential election comes up they can ride the coattails of the inevitable public response of blaming the party that controls the White House. Facts apparently in politics account for little.