You have to watch this video in which prominent Democrats such as Maxine Waters and Barney Frank rail on and on about how there are no problems at Fannie Mae, and no increased regulation is thereby required. Of particular interest is Maxine Water’s idiotic pronouncement about what an outstanding CEO Frank Raines is, just shortly before he was forced out of the company for cooking the books. The bottom line is that the Bush Administration, and the Senate GOP particularly John McCain, saw what was going on at Fannie Mae and Freddie Mac and tried to stop it. Unfortunately, the Democrats were either completely out to lunch, or so intoxicated by all the money Fannie and Freddie were forking over in “campaign contributions” that they completely let them slide. And, now we’re all paying for it.
Tuesday February 9th 2010
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