Thursday, September 18, 2008

Dems on Freddie, Fanny responsibility: "Who, us?"

There's no way the Dems can make this information go down the memory hole in their attempt to place the blame for the financial chaos on anyone but themselves.

I love these excerpts:

"Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

'These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. 'The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.'

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

'I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,' Mr. Watt said."

....and then there's this:

"The Men Who Built the Bomb:

... are all working as advisers to Obama now.

Penny Pritzker, "the Michael Milken of subprime mortgages," is Obama's Finance Chair.

Jim Johnson, disgraced former CEO of Fannie, was Obama's vice presidential search chairman, at least until he resigned under fire due to his role in providing subsidized sweetheart loans to Democratic Senators during his stint at Countrywide.

Franklin Raines, who participated in the accounting scandals to fix Fannie's books and deliver unwarranted bonuses to its top executives, is a top Obama adviser.

Corrupt 'Community Organizer' organization ACORN, an institutional ally of Barack Obama, lobbied Freddie and Fannie to extend even more risky loans to credit-poor borrowers in the interest of ending 'racial redlining.' But they didn't end 'racial redlining.' What they ended was any credit-checking at all, as subprime mortgage providers simply stopped verifying self-reported claims of income and in fact ended even the most basic prudential element of a mortgage -- the down payment."


Fat pharking ugly.

Yet the Usual Suspects/Nutroots/Willing Media Cronies will all blow this off, as if it never existed.

1 comment:

  1. Yeah Bubba,

    Blow it off, better yet ignore it, the very same facts and points I made yesterday in Coneland.

    Fred Gregory