USANews版 - Housing Meltdown June 21, 2009 |
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发帖数: 29846 | 1 Senator Chris Dodd Democrat is one of the two major culprits leading to the
housing meltdown. He kept the Senate from acting while Democrat Barney Frank
kept the U.S. House from taking steps to deal with scandals leading to the
collapse of CountryWide Mortgage and the scandals at Fannie Mae and Freddie
Mac all led by Clinton Cronies and involving Rahm Emanuel.
In May 2007 Barney Frank and the Democrat-controlled House passed GSE reform
legislation. Legislation which was adamantly opposed by the Treasury Dept.
and the Bush Administration for limiting federal oversight of Fannie and
Freddie’s mortgage holdings. Legislation which included Frank’s pet
project, an “affordable housing” fund backed by tax payers.
Let it also be noted that going into 2007 Fannie and Freddie had never in
history been allowed to purchase or finance sub-prime mortgages. But under
pressure from Democrats in Congress (including Frank), they were granted
this authority by regulators in September 2007.
Let it also be noted that in 2007 Frank aggressively pushed to increase the
maximum loan limits which could be underwritten by the GSE’s. A move which
would ultimately transfer tens of billions of dollars of loan liabilities
from private financial institutions to tax payers.
reference - http://gatewaypundit.rightnetwork.com/2010/10/new-ad-ties-barney-frank-to-fannie-freddie-meltdown-video/ |
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