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September 29, 2010

What the Dems blame Bush - remember this timeline

Between now and November 2nd, keep this time line in mind when you hear the Barack Obama and the liberal Democrats in Congress blame the economy on Bush and the GOP.

The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn't afford them -- just like you would expect of socialists. See our web site for more.

In the 2009 video below, Peter J. Wallison of the American Enterprise Institute specifically highlights the destructive impact of the two government-created entities known as Fannie Mae and Freddie Mac (whose policies resulted in 25 million junk mortgages), and concludes with four key lessons that explain how to avoid similar mistakes in the future. It is well worth taking the time to watch it all: Government Intervention, Regulatory Policy, and the Financial Crisis:

In this shocking video, you can watch Democrats in their own words covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis:

Clearly, and I do mean very clearly, the Democrats lied all along about their role in causing the financial collapse of Fannie Mae and Freddie Mac that brought about the financial crisis, and continue to lie about not having been warned over and over about the problems by Republicans.

Meanwhile, taxpayer losses from the government seizure of failed housing finance giants Fannie Mae and Freddie Mac could reach nearly $400 billion, and the Obama administration lifted a $400-billion cap on the federal commitment to Fannie and Freddie through 2012 - Freddie and Fannie are due for another bank-busting bailout - courtesy of Obama and the Democrats in Congress.

Also, with the Dodd-Frank financial bill having been passed, the seeds of the next financial crisis have already been planted by Obama and the Dems.

Related:
McCain Letter Demanded 2006 Action on Fannie and Freddie. What did Obama do? (Sen. Obama nor any other Democrats signed the letter - 19 other Republican senators signed along with McCain).
Democratic hypocrisy on Fannie Mae/Freddie Mac.
Greatest Democratic Hits: Barney Frank Says Fannie, Freddie Are Just Fine

Posted by Richard at September 29, 2010 3:38 PM

• What the Dems blame Bush - remember this timeline - Sep 29, 2010