Many followers of the 'hope and change' gang have no clue that the Dodd-Frank financial reform bill did nothing to regulate Freddie Mac and Fannie Mae. Many of these same dolts also have no clue about the Obama regime raising the debt ceiling for these two GSEs up to $400 billion dollars. In other words, if Fannie and Freddie were to fail, the taxpayers are covering the bill.
I must also point out that Obama has refused to appoint an Inspector General to oversee these two GSEs. It seems Rahm Emanuel has something to do with the blocking of an investigation into Freddie and Fannie. Rahm just happened to sit on the board of Freddie Mac thanks to an appointment by that always trust worthy Bill Clinton. What do they have to hide?
From The Daily Caller:
Republican lawmakers on Capitol Hill are planning to hold a hearing on February 9 to begin tackling reform of government sponsored enterprises (GSE) like mortgage giants Fannie Mae and Freddie Mac. The hearing will be the first in a long series of investigations by Republicans to fix what is viewed as one of the main causes of the 2008 financial crisis.
The first hearing will be held by the Financial Services subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. The focus of the hearing and the ones that follow it will be stopping taxpayer losses on housing in the short term, preventing future bailouts and removing government from the housing markets all together.
Republican Rep. Spencer Bachus of Alabama, chairman of the Financial Services Committee, said in a statement announcing the hearings, "The Committee will be busy this year addressing the issues of concern to Americans: jobs, economic activity, Fannie and Freddie reform, and implementation of Dodd-Frank."
Maybe the taxpayers can get Darrell Issa (R-Calif) to investigate the ties between Chris Dodd (D-Conn), Barney Frank (D-Mass) and Freddie/Fannie. Dodd is retiring due to his 'sweetheart deals' and Barney was having a romance with a Fannie Mae executive.
"We will work to ensure that taxpayers are protected," he added.
Reform of Fannie Mae and Freddie Mac is shaping up to be a primary area of concern for the GOP as Republican lawmakers figure out how to address the two financial institutions that were left out of the Dodd-Frank Financial Reform and Consumer Protection Act that was passed last summer.
Both Freddie and Fannie received bailout money but the Democrats left them free from regulation. Why?
 | WordPress.com | Thanks for flying with WordPress! |
Trouble clicking? Copy and paste this URL into your browser: http://subscribe.wordpress.com
--
Thanks for being part of "PoliticalForum" at Google Groups.
For options & help see http://groups.google.com/group/PoliticalForum
* Visit our other community at http://www.PoliticalForum.com/
* It's active and moderated. Register and vote in our polls.
* Read the latest breaking news, and more.
No comments:
Post a Comment