It’s pure unadulterated demagoguery but it’s still a hell of speech!<\/p>\n
<\/object><\/p>\nWith 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 and Freddie Mac and let them run wild buying up and securitizing billions in bad mortgages. It was Congress who ignored warnings resisted attempts to rein in Fannie and Freddie.<\/p>\nBottom Line Congressman, this was a preventable crisis… If you’re going to point fingers start by pointing them at yourselves… Yes, greed and mismanagement on Wall Street undoubtedly played a part but that doesn’t absolve Congress and government regulators!<\/p>\n","protected":false},"excerpt":{"rendered":"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 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[166,160,113,114,182],"class_list":{"0":"post-562","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-bailout","9":"tag-congress","10":"tag-fannie-mae","11":"tag-freddie-mac","12":"tag-thaddeus-mccotter","13":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-94","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1096,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/12\/11\/wsj-congress-whitewashing-fannie-and-freddie\/","url_meta":{"origin":562,"position":0},"title":"WSJ: Congress Whitewashing Fannie and Freddie","author":"Jeff","date":"December 11, 2008","format":false,"excerpt":"With all the buzz about the Feds corruption probe of Gov. Illinois Rod Blagojevich it's easy for things like this Wall Street Journal column to be missed. Whitewashing Fannie Mae Congress begins its self-absolution campaign. Henry Waxman's House Committee on Oversight and Government Reform met Tuesday to examine \"The Role\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2443,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/24\/barney-franks-bad-idea\/","url_meta":{"origin":562,"position":1},"title":"Barney Frank’s Bad Idea","author":"Jeff","date":"June 24, 2009","format":false,"excerpt":"From the Wall Street Journal: Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to \"roll the dice\" in the name of affordable housing. That didn't turn out so well, but Mr. Frank has since only accumulated more\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":332,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/09\/fannie-freddie\/","url_meta":{"origin":562,"position":2},"title":"Fannie & Freddie…","author":"Jeff","date":"September 9, 2008","format":false,"excerpt":"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\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2486,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/07\/07\/anatomy-of-a-crisis-the-fannie-mae-and-freddie-mac-debacle\/","url_meta":{"origin":562,"position":3},"title":"Anatomy of a Crisis: The Fannie Mae and Freddie Mac Debacle","author":"Jeff","date":"July 7, 2009","format":false,"excerpt":"Republican members of the House Committee on Oversight and Government Reform have released a report analyzing the role of the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac, in the housing meltdown. You can read the full report here, but here are the highlights: Political pressure led to the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":693,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/10\/07\/credit-crisis-chris-shays-comes-out-swinging-at-congress\/","url_meta":{"origin":562,"position":4},"title":"Credit Crisis: Chris Shays Comes Out Swinging At Congress","author":"Jeff","date":"October 7, 2008","format":false,"excerpt":"Democrats in Congress may not want to talk about their roll in causing the subprime meltdown by refusing to regulate Fannie Mae and Freddie Mac but Rep. 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Our current economic crisis is a\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=562"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/562\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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 and Freddie Mac and let them run wild buying up and securitizing billions in bad mortgages. It was Congress who ignored warnings resisted attempts to rein in Fannie and Freddie.<\/p>\n
Bottom Line Congressman, this was a preventable crisis… If you’re going to point fingers start by pointing them at yourselves… Yes, greed and mismanagement on Wall Street undoubtedly played a part but that doesn’t absolve Congress and government regulators!<\/p>\n","protected":false},"excerpt":{"rendered":"
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 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[166,160,113,114,182],"class_list":{"0":"post-562","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-bailout","9":"tag-congress","10":"tag-fannie-mae","11":"tag-freddie-mac","12":"tag-thaddeus-mccotter","13":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-94","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1096,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/12\/11\/wsj-congress-whitewashing-fannie-and-freddie\/","url_meta":{"origin":562,"position":0},"title":"WSJ: Congress Whitewashing Fannie and Freddie","author":"Jeff","date":"December 11, 2008","format":false,"excerpt":"With all the buzz about the Feds corruption probe of Gov. Illinois Rod Blagojevich it's easy for things like this Wall Street Journal column to be missed. Whitewashing Fannie Mae Congress begins its self-absolution campaign. Henry Waxman's House Committee on Oversight and Government Reform met Tuesday to examine \"The Role\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2443,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/24\/barney-franks-bad-idea\/","url_meta":{"origin":562,"position":1},"title":"Barney Frank’s Bad Idea","author":"Jeff","date":"June 24, 2009","format":false,"excerpt":"From the Wall Street Journal: Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to \"roll the dice\" in the name of affordable housing. 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First is the Op Ed by John McCain in today's Wall Street Journal: We'll Protect Taxpayers\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2486,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/07\/07\/anatomy-of-a-crisis-the-fannie-mae-and-freddie-mac-debacle\/","url_meta":{"origin":562,"position":3},"title":"Anatomy of a Crisis: The Fannie Mae and Freddie Mac Debacle","author":"Jeff","date":"July 7, 2009","format":false,"excerpt":"Republican members of the House Committee on Oversight and Government Reform have released a report analyzing the role of the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac, in the housing meltdown. You can read the full report here, but here are the highlights: Political pressure led to the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":693,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/10\/07\/credit-crisis-chris-shays-comes-out-swinging-at-congress\/","url_meta":{"origin":562,"position":4},"title":"Credit Crisis: Chris Shays Comes Out Swinging At Congress","author":"Jeff","date":"October 7, 2008","format":false,"excerpt":"Democrats in Congress may not want to talk about their roll in causing the subprime meltdown by refusing to regulate Fannie Mae and Freddie Mac but Rep. 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Our current economic crisis is a\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=562"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/562\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}