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Originally Posted by directfiesta
already posted so many times ... any other ones ....
Sure, it is all the dems fault, after all they have been in the WH for the past 8 years as well as control house/congress since 2001 .... |
Google news archives are your friend. You can find all kinds of quotes from Dems stating that there is no problem and proposed reforms to Fannie and Freddie are just designed to stop low income people from access to affordable homes.
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“I want [Freddie Mac and Fannie Mae] to help with affordable housing, to help low-income families get loans and to help clean up this subprime mess. Otherwise, why should they exist?”
- Rep. Barney Frank, Sept'08 .
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You guys can try to deny it but the Dems blocked legislation multiple times. There own words on record prove it.
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'The regulator has not only been outmanned, it has been outlobbied,'' said Representative Richard H. Baker, the Louisiana Republican who has proposed legislation similar to the administration proposal and who leads a subcommittee that oversees the companies. ''Being underfunded does not explain how a glowing report of Freddie's operations was released only hours before the managerial upheaval that followed. This is not world-class regulatory work.''
Significant details must still be worked out before Congress can approve a bill. 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.
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Gives me a good chuckle to listen to good ole Barney talking on the news the past few weeks about how he is going to fix the mess the Republicans got the country into.
BTW, can anyone find any of the proposed reforms to Fannie and Freddie that the Dems have proposed in the past 5 years? I can't and I would appreciate it if someone could point them out to me. Thanks in advance