Date registered: Apr 2004
Location: The BlueGrass State
Mentioned: 0 Post(s)
Quoted: 2 Post(s)
Glad someone brought this one up. Bush has been TALKING ABOUT Fannie Mae since 2001.
With a Republican House of Representatives and a Republican Senate from Jan/2001 to Jan/2007, a hand picked FED chairman and a Treasury Secretary that was willing to do his bidding, we have to ask just why he did nothing but TALK.
He did, on the other hand slow down enforcement of regulations that were on the books which exacerbated the problems we face today. He did, through resolutions of the House and Senate further Deregulate the Financial sector in 2006 which allowed them to grow the amount of high risk debt in their portfolios.
So, we have to ask ourselves, if Bushie was so concerned about Fannie Mae, WHY, with majorities in both houses and majorities on ALL finance committees did he NOT DO JACK SHIT about anything?
Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.