agenda
and greed by the Democrat Party.....
-----------
All you're saying is compromise with the Republicans destroyed the
country.
On Jun 26, 11:45 am, Keith In Tampa <keithinta...@gmail.com> wrote:
> Euwe, Euwe, Euwe; Let's Review:
>
> The Bush Administration called for Fannie Mae and Freddie Mac reforms
> repeatedly, all to fall upon deaf ears by the Democrats.
>
> *"Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008
> Alone... Dems Ignored Warnings"*
>
> http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-f...
>
> In 2003, the Bush Administration was encouraging and pushing the Congress to
> reform Fannie Mae and Freddie Mac, all which fell upon deaf ears by the
> Democrats, the Democrats fought change to Freddie and Fannie vociferously:
>
> http://hotair.com/archives/2008/09/16/whose-policies-led-to-the-credi...
>
> =============
>
> **
> * *
>
> Here is a video from 2004, which shows Congressman Barney Frank, (D.
> Mass) Congresswoman
> Maxine Waters, (D. Cal.); Congressman Lacey Clay, (D. Mo.); Congressman
> Arthur Davis (D. Ala), Congressman Gregory Meeks, (D. N.Y.) as well as other
> Democrats vehemently denying that there were any problem with Fannie Mae or
> Freddie Mac in 2004. That Senator Obama's presidential campaign economic
> advisor, and former Fannie Mae CEO Franklin Raines was doing, "An
> outstanding job"; and that the regulators were the ones that were creating
> the problem:
>
> http://www.youtube.com/watch?v=_MGT_cSi7Rs
>
> ===========
>
> Here is the statement that Congressman Davis, (the same Congressman Davis
> who is strongly defending Freddie Mac and Fannie Mae in the above
> video) released
> to Sean Hannity yesterday, September 30, 2008:
>
> *"Like a lot of my Democratic colleagues I was too slow to appreciate the
> recklessness of Fannie and Freddie. I defended their efforts to encourage
> affordable homeownership when in retrospect I should have heeded the
> concerns raised by their regulator in 2004. Frankly, I wish my Democratic
> colleagues would admit when it comes to Fannie and Freddie, we were wrong.
> By the way, I wish my Republican colleagues would admit that they missed the
> early warning signs, that Wall Street deregulation was overheating the
> securities market and promoting dangerously lax lending practices. When it
> comes to the debacle in our capital markets, there is much blame to go
> around for both sides."*
>
> http://www.foxnews.com/story/0,2933,431209,00.html
>
> ==================
>
> Have you figured it out yet? Are you having a hard time accepting and/or
> understanding what transpired? Lets move on:
>
> =================
>
> Although Congressman Davis's statement still acknowledges my point, and
> should make every American stand up and take note, Congressman Davis's
> statement goes on, in a partisan attempt to blame Republicans for not
> tightening the regulatory scheme.
>
> If the Republicans can be blamed, it should be for not sounding the alarm
> bells loud enough, over the fraud pepetrated by the Democrat Party's
> socialist Agenda!
>
> It was in fact the Clinton Administration and Robert Rubin who were pushing
> for the deregulation.
>
> Former Goldman Sachs partner Robert Rubin, who was President Clinton's
> Treasury Secretary, in a 1995 speech and testimony to Congress, Rubin
> advocated the Bill modifications to the Community Reinvestment Act, and
> professed the Clinton Administration's intent to repeal the Glass-Steagall
> Act:
>
> *"The banking industry is fundamentally different from what it was two
> decades ago, let alone in 1933….[T]he industry has been transformed into a
> global business of facilitating capital formation through diverse new
> products, services and markets. U.S. banks generally engage in a broader
> range of securities activities abroad than is permitted domestically… Even
> domestically, the separation of investment banking and commercial banking
> envisioned by Glass-Steagall has eroded significantly."*
>
> http://www.theminorityreportblog.com/story/pilgrim/2008/09/19/the_pla...
>
> By the mid 1990s, the Clinton Administration had in fact adopted a "quota
> system" , and unabashedly favored expansion of, and the empowered use of
> the "Community Reinvestment Act", believing that a governmental response to
> economic problems in inner cities is generally more effective than a market
> solution.
>
> Eugene Ludwig, President Clinton's Comptroller of the Currency and head of
> the Office of the Comptroller and Currency, was a strong proponent of
> expanding the reach of Community Reinvestment Act. Ludwig said in his
> confirmation hearing that his first priority as Comptroller would be to
> eliminate
>
> *"discrimination from our financial system, root and branch." *
>
> Ludwig told bankers,
>
> *"If you seize this issue as an opportunity, you will reap the benefits in
> the form of new business and heightened respect from the press, the
> Congress, and your communities."* (*See* the CATO Institute, a non-partisan
> Libertarian Think-Tank, link provided below)
>
> With regard to the Community Reinvestment Act, Clinton Administration
> Attorney General Janet Reno said,
>
> *"No loan is exempt, no bank is immune. For those who thumb their nose at
> us, I promise vigorous enforcement."*
>
> http://209.85.165.104/search?q=cache:90IT4MK9474J:www.cato.org/pubs/r...
>
> Finally, there is really no dispute. Former President Clinton said on
> September 26, 2008:
>
> *"I think the responsibility that the Democrats have, may rest more in
> resisting any efforts by Republicans in the Congress, or by me when I was
> president, to put some standards and tighten up a little on Fannie Mae and
> Freddie Mac."*
>
> http://hosted.ap.org/dynamic/stories/M/MELTDOWN_ADS?SITE=DCUSN&SECTIO...
>
> There is no argument here. Our Nation was sold out by a socialist agenda
> and greed by the Democrat Party.....
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