02-25-2016, 12:36 AM
(02-24-2016, 10:59 PM)fredtoast Wrote: Yes, I am pretty sure they did.
In the 90's EVERYONE thought Fannie Mae was a good idea. When Bush took office and the Republicans took control of congress they still agreed that promoting home ownership through programs like Fannie Mae was a good idea. There may have been a few individuals ringing an alarm, but the main perty positions were in favor of Fannie Mae.
If the Republicans try to blame the economic collapse on something that was in place while they were in control for 8 years they are just making themselves look stupid.
And finally it is not correct to blame Fannie Mae when there were all sorts of other private lenders making risky unsecured loans.
So now republicans care about poor people?
When liberal ideas crash an burn Republicans must of had something to do with it...riiight.
The insane idea that "everyone should be able to own a home" has no other but a liberal Democrat stamp on it.
Roots of that crisis went back to the Carter administration when left wing activists began accusing mortgage lenders of racism.
Hence, the community reinvestment act ...part of which would punish banks that failed to meet the credit needs of low income folks.
Enter that fat little scheming liberal piece of shit Barney Frank who had his fingerprints all over that mess repeatedly insisting that Fannie and Freddie were in good shape. When the Bush White House proposed tighter regulation warning of a systemic risk to our financial system, Frank accused the Bush administration of being more concerned with financial safety than poor people. Well of course what else, same old liberal crap...Republicans hate poor people.
Then when the bubble did burst Frank blamed it on the private sector for getting us into that mess. What gall. Make no mistake, private lenders and Wall Street did have some things to answer for, but it was 'feelings before logic and common sense' democrats that derailed that train.
