Congress at its finest

[ericire12]

Democrats insisting “nothing wrong” at Fannie Mae, Freddie Mac in 2004



http://www.youtube.com/watch?v=_MGT_cSi7Rs



Highlights of this eight-minute video:

Maxine Waters: Through nearly a dozen hearings, we were frankly trying to fix something that wasn’t broke.  Mr. Chairman, we do not have a crisis at Freddie Mac, and particularly at Fannie Mae, under the outstanding leadership of Franklin Raines.  [Raines would barely avoid prosecution for fraud.]

Gregory Meeks: … I’m just pissed off at OFHEO [the regulators trying to warn Congress of insolvency at the GSEs], because if it wasn’t for you, I don’t think we’d be here in the first place.  … There’s been nothing that indicated that’s wrong with Fannie Mae, Freddie Mac has come up on its own … The question that then comes up is the competence that your agency has with reference to deciding and regulating these GSEs.

Lacy Clay: This hearing is about the political lynching of Franklin Raines (Yep, there is the race card).

Barney Frank: I don’t see anything in this report that raises safety and soundness problems.



Exit Question: When are these congressmen going to be hauled off to prison?

[tt11758]

And these are the same people who are trying to blame the Republicans for this financial mess.  Un-frickin-believable!!

[twyacht]

Visualize beating head on desk, again and again......and again.....

[TAB]

The goverment is not to blame for the mess( both GOP and DEM could have done things diffrently, but they didn't )  Greed and/or poor biz pratices cuased it. 

[Pathfinder]

This says it all . . .

[Sponsor]

[jaybet]

The goverment is not to blame for the mess( both GOP and DEM could have done things diffrently, but they didn't )  Greed and/or poor biz pratices cuased it. 

...AND the damn government, who are supposed to be representing US, not taking money from these s**theels and looking the other way.

[twyacht]

The goverment is not to blame for the mess( both GOP and DEM could have done things diffrently, but they didn't )  Greed and/or poor biz pratices cuased it. 

Stirring the pot good today TAB, the House Finance Comm. and Senate Banking Comm. on housing and urban affairs, does what?

Oh that's right, they create the regulations that the biz's have to follow...I do think BOTH parties and greed are to blame, but more importantly, now they have to do something. We'll see how that works out. Sister Nancy is so friendly and personable.

The Ceo of Wachovia in Aug. put out a press release that said all is well, was he lying? Or just waiting for his golden parachute?

[ericire12]

The goverment is not to blame for the mess( both GOP and DEM could have done things diffrently, but they didn't )  Greed and/or poor biz pratices cuased it. 

If Clinton had not signed the bill that congress passed to deregulate the financial market, all these bad lending practices and rebundling of bad mortgages would not have been legal.

[ericire12]

This says it all . . .

Comment of the day award!

[Hazcat]

If Clinton had not signed the bill that congress passed to deregulate the financial market, all these bad lending practices and rebundling of bad mortgages would not have been legal.

Here's a nice read on UMMMMM UHHHH and ACORN and their part of the mess.

http://www.nypost.com/seven/09292008/postopinion/opedcolumnists/os_dangerous_pals_131216.htm?&page=1