The Wall Street Journal has a long history over covering the abuses of Fannie Mae and Freddie Mac today they’re naming names and calling out the Democrats who helped cause our financial crisis. House Financial Services Committee hearing, Sept. 25, 2003: Rep. Gregory Meeks, (D., N.Y.): . . . I am just pissed off at [...]
Flamethrower: Thaddeus McCotter
October 1, 2008 By Leave a Comment
It’s pure unadulterated demagoguery but it’s still a hell of speech! With all due respect Congressman Wall Street didn’t cause this problem… They played their part but it was Congress and government regulators who, in the name of affordable housing, compelled banks to write these risky sub-prime loans. It was Congress who created Fannie Mae [...]
Video: Burning Down The House: What Caused Our Economic Crisis?
September 26, 2008 By Leave a Comment
This video has been floating around the web for a couple of days… It provides a detailed look at how the Community Reinvestment Act was used to push banks into sub-prime mortgages and how that distorted the housing market… And helped create the bubble that burst. A couple of caveats though… First it lays the [...]
Fannie & Freddie…
September 9, 2008 By Leave a Comment
I’m not in a writing mood today but I hate to leave this page silent so I thought I’d share a few must reads on the Fannie Mae & Freddie Mac bailout with you. First is the Op Ed by John McCain in today’s Wall Street Journal: We’ll Protect Taxpayers From More Bailouts By John [...]
The Gaffe That Wasn’t…
September 8, 2008 By Leave a Comment
The Huffington Post is reporting that Sarah Palin has made her first gaffe: Gov. Sarah Palin made her first potentially major gaffe during her time on the national scene while discussing the developments of the perilous housing market this past weekend. Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending [...]
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