Comments on: The Almost-Averted Crisis

By: POHearn

POHearn — Fri, 26 Sep 2008 19:31:49 +0000

Well, as you know, minority parties can wield influence if they act in a untied manner. And the 2005 legislation was killed in committee, not on the floor.

That is not saying this is strictly a Democratic or Republican party problem. I think people are too quick to want to blame one group or another, and that's not going to resolve the crisis we're in now.

The problem at that time wasn't merely that oversight was lacking, the problem was also, in the main, congressional encouragement to Freddie and Fannie to better support low income families. And the definition of low-income families is high-risk sub prime mortgages.

If you want to look at a lobbying agency that was one of the biggest players in pushing congress to get Freddie and Fannie into the sub-prime market, then learn what you can about "FM Watch" or "FM Policy Focus." This lobbying agency officially disbanded this year saying "our job is done," basically. When do lobbying agencies willingly disband?

Regards,

POHearn

By: VultureTX

VultureTX — Fri, 26 Sep 2008 13:05:48 +0000

@ Recruiterrick 17 hours ago 1 point
..." Dang, I forgot, the Republicans controlled both houses of Congress, yet Barney Frank wasn't able to stop anything else, except proper regulation of FRE and FNM. Medicare reform went through even though the Democrats opposed it. No Child Left Behind went through, and the Democrats did not have enough votes to stop that. Both of these programs have cost more, and delivered less by every measure. .."
Wow the left must be desperate to outright lie about Medicare reform and no child left behind. Since obviously we all know the Democratic did co-sponsor both those bills. Ted Kennedy was a major factor. And hillary clinton supported NCLB too.

And to toss in a strawman on Neal Bush, shows how far back they will go just avoid the truth and to claim the GOP was solely at fault.

Of course that might be why the Democrats are in such a hurry this week, to bury before Frank;s and others actions are common knowledge. Then again they just like spending our money.

By: Aaron Krowne

Aaron Krowne — Thu, 25 Sep 2008 19:45:46 +0000

I think the motivation behind this legislation was to kill a democratic patronage outlet, not to reign in the housing bubble.

Indeed, if Greenspan was so concerned about the fundamentals, why was he advocating ARMs in 2004, with interest rates at 1%?

By: Recruiterrick

Recruiterrick — Thu, 25 Sep 2008 18:42:50 +0000

So, Barney Frank is who you blame for the whole mess?

That works for Phil Gramm.

And Alan Greenspan.

Also George Bush, and Neal, he desires no reference to Silverado.

How about Paulson? GS made a lot of money selling thin air for trillions of dollars, it works for him, too.

Bernanke, as soon as he can find the toilet paper for the wipe, will believe that may work for him also.

Dang, I forgot, the Republicans controlled both houses of Congress, yet Barney Frank wasn't able to stop anything else, except proper regulation of FRE and FNM. Medicare reform went through even though the Democrats opposed it. No Child Left Behind went through, and the Democrats did not have enough votes to stop that. Both of these programs have cost more, and delivered less by every measure.

Barney wasn't able to stop anything, except more regulation. So he became a Republican on that issue?

Wow!

I'm glad to finally see the light.

Will your next story be that dinosaurs are a hoax perpetrated by the liberal elite?