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October 2, 2008
Today's a Good Day to Repost This: 'Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scams that caused our Economic Crisis' (Updated)
Topics: Political News and commentariesWe first posted this back on September 27; its the Democrats in their own words covering up the Fannie Mae, Freddie Mac scam at a 2004 hearing in which you clearly see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy:
Right Voices points to The Wall Street Journal's editorial coverage of Fannie and Freddie, What They Said About Fan and Fred that you will find incredible, and that's incredible in the sense that these things were actually said - and how is it these very same people are still in Congress and why Fannie Mae and Freddie Mac execs that walked off with millions aren't behind bars. Here's a brief excerpt that you might not have heard about yet and isn't in the above video - it's Rep. Barney Frank, ranking Democrat on the Financial Services Committee, during a Committee hearing in September 2003:
Rep. Frank: Let me ask [George] Gould and [Franklin] Raines on behalf of Freddie Mac and Fannie Mae, do you feel that over the past years you have been substantially under-regulated?The exchange is basically the Chief Fox speaking to the Fox in the hen house asking him if he's been eating any chickens and does he believe he needs monitoring. It's nuts.Mr. Raines?
Mr. Raines: No, sir.
Mr. Frank: Mr. Gould?
Mr. Gould: No, sir. . . .
Mr. Frank: OK. Then I am not entirely sure why we are here. . . .
Rep. Frank: I believe there has been more alarm raised about potential unsafety and unsoundness than, in fact, exists.
Sister Toldjah also is covering the WSJ piece and offers additional commentary.
Posted by Mike in Iraq at October 2, 2008 9:22 AM
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