Oh my Boards of FL
The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore, put your fingers in your ears and scream la la la la la as loud as you can like screaming little girls.
The responsibility for the housing/mortgage/financial meltdown lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND with REPUBLICANS for backing off every time Chris Dodd, Barney Frank and his cronies played…THE RACE CARD!
HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
August 5, 1997 (President Clinton)
http://archives.hud.gov/news/1997/pr97-135.cfm
New York Times - 1999 (President Clinton)
Fannie Mae Eases Credit To Aid Mortgage Lending -
http://tinyurl.com/ce7hh3
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
http://tinyurl.com/yyd3uey
http://georgewbush-whitehouse.archives.gov/news/releases/2008/09/20080919-15.html
From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,
Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?sec=&spon=&pagewanted=1
Sept 11, 2003
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.'' http://tinyurl.com/75yoa89
Maxine Waters & Barney Frank - Then Vs. Now
Mid 2004
http://tinyurl.com/ykcjm4a
Democrats in their own words covering up the Fannie Mae, Freddie Mac
Late 2004
http://tinyurl.com/3nkrp7
Barney Frank in 2005: What Housing Bubble?
http://tinyurl.com/djqmnc
By Elliot Blair Smith,
USA TODAY5/25/2006
Fannie Mae to pay $400 million fine (Franklin Raines CEO and Obama adviser)
http://tinyurl.com/nmmns
Bloomberg News – September 22, 2008
How the Democrats Created the Financial Crisis -
http://tinyurl.com/4u9rnk
Timeline shows Bush, McCain warning Democrats of Financial Crisis September 24, 2008
http://tinyurl.com/4rj9nn
September 28, 2008
Wall Street Journal Barney’s Rubble
http://tinyurl.com/44pet5
Steve Kroft On Credit Default Swaps And Their Central Role In The
Unfolding Economic Crisis -
http://tinyurl.com/yk8etks
All this, in addition to the repeal of the Glass-Steagall Act signed by President William Jefferson Clinton caused the meltdown. It COULD have been stopped. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.
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