Thursday, October 30, 2008

Video: Democrats Covered For Fannie Mae, Freddie Mac

Who caused the current economic crisis? Democrats. Yep. Watch for yourself (video below) as Republicans warn Congress in 2004 about a coming crisis with Fannie Mae and Freddie Mac. The Democrats' response: Nothing's wrong! Everything is beautiful! Leave Fannied and Freddie alone! For example, Rep. Maxine Waters, (D-CA) testified that "Mr. Chairman, we do not have a crisis at Freddie Mac and in particular at Fannie Mae." Review: Republicans saw it coming, warned about it, but Democrat after Democrat brushed those warnings aside. Rep. Gregory Meeks (D-NY) said, "There's been nothing that's been indicated that's wrong, you know, ah, with Fannie Mae" and then scolds a regulator by questioning the competency "that your agency has." Wow. Are YOU going to vote the enablers of Fannie Mae and Freddie Mac back into office? Hmmmm? Now, how do you spin your way outa this?