Dems to blame for Fannie Mae and Freddie Mac - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 28 (permalink) Old 09-17-2008, 09:06 AM Thread Starter
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Dems to blame for Fannie Mae and Freddie Mac

This is interesting. While all the Obama kool aid drinkers are bashing Bush and McCain, it turns out that Bush saw this was going to happen 5 years ago and attempted to do something about it. The democrats blocked it claiming he was fear mongering and was trying to keep the poor from having their own homes.

http://query.nytimes.com/gst/fullpag...gewanted=print

The most interesting are the last two paragraphs where the congressional democrats respond the the Bush proposal. Our economy has faltered since the dems took over congress and now the Obama supporters want a dem in the White House too. You Obama supporters need to open your eyes to reality. The dems don't want to help you, they want you to be dependent on them PERIOD!
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post #2 of 28 (permalink) Old 09-17-2008, 09:09 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

Wow that sounds like a logical leap to me.

Ummm, you realize that having 'control' of congress for less then 2 years doesn't suddenly mean they caused everything to melt down. It takes more then 2 years for almost anything to snowball economically. Everything that lead to this happening started more or less with the savings and loan issues back in the 80's but more proximally in the last 6 or 7 years.

More is to be blamed on the mortgage industry in general, not on gov't.
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post #3 of 28 (permalink) Old 09-17-2008, 09:17 AM Thread Starter
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Re: Dems to blame for Fannie Mae and Freddie Mac

The point is all the signs were there that there was going to be a meltdown and Bush proposed a way to avoid it. The congressional democrats stopped it, claiming there was no problem and Bush was crazy for thinking there was. Now they sit back all high and mighty and blame Bush for the crashes. That is the MO of our current day Democratic party.

As far as the terrible status of things since the dems took over congress, it is due to the complete ineptitude of Nancy Pelosi and Harry Reid. They don't care about you or what your struggles are. That is why they took their vacation before anything could be done about our gas prices. The approval ratings of congress show that the american people know who is at fault here, too.
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post #4 of 28 (permalink) Old 09-17-2008, 09:24 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

[quote author=timmyj link=topic=123696.msg2620443#msg2620443 date=1221657466]
The point is all the signs were there that there was going to be a meltdown and Bush proposed a way to avoid it. The congressional democrats stopped it, claiming there was no problem and Bush was crazy for thinking there was. Now they sit back all high and mighty and blame Bush for the crashes. That is the MO of our current day Democratic party.

As far as the terrible status of things since the dems took over congress, it is due to the complete ineptitude of Nancy Pelosi and Harry Reid. They don't care about you or what your struggles are. That is why they took their vacation before anything could be done about our gas prices. The approval ratings of congress show that the american people know who is at fault here, too.
[/quote]

What about the approval ratings of the president? You'd have to admit they know something there as well wouldn't you?

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post #5 of 28 (permalink) Old 09-17-2008, 09:25 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

[quote author=timmyj link=topic=123696.msg2620443#msg2620443 date=1221657466]
The point is all the signs were there that there was going to be a meltdown and Bush proposed a way to avoid it. The congressional democrats stopped it, claiming there was no problem and Bush was crazy for thinking there was. Now they sit back all high and mighty and blame Bush for the crashes. That is the MO of our current day Democratic party.

As far as the terrible status of things since the dems took over congress, it is due to the complete ineptitude of Nancy Pelosi and Harry Reid. They don't care about you or what your struggles are. That is why they took their vacation before anything could be done about our gas prices. The approval ratings of congress show that the american people know who is at fault here, too.
[/quote]

While I am a Republican....

It's laughable to think Congress could have done anything in extended session to lower gas prices in an urgent manner. As far as the offshore drilling ban goes, what real difference did a month make?

Remember, when you point a finger at someone, there are several pointing back at you. Blaming this nation's current ills on any one party is ridiculous. The Republicans had almost absolute power for years and squandered it w/o getting any immigration reform, SS reform, etc. and spent like drunken sailors.

We're all to blame and to say otherwise is just plain dishonest.
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post #6 of 28 (permalink) Old 09-17-2008, 09:29 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

The mortgage mess lies full on the mortgage companies. The government didn't tell those companies to give bad mortgages to people with bad credit, and then when those people couldn't pay their mortgage (shocking I know) the government comes and bails them out. Anyone hear of the Soviet Union? Yeah that's what this country is turning into.

Also, the government isn't going to change the way it does things until the American people as a whole stand up and make them. Congress and the president have gotten too comfortable and seem to have forgotten that we're their employers, not the other way around.

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post #7 of 28 (permalink) Old 09-17-2008, 09:32 AM Thread Starter
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Re: Dems to blame for Fannie Mae and Freddie Mac

[quote author=Timotheus link=topic=123696.msg2620470#msg2620470 date=1221658177]
The mortgage mess lies full on the mortgage companies. The government didn't tell those companies to give bad mortgages to people with bad credit, and then when those people couldn't pay their mortgage (shocking I know) the government comes and bails them out. Anyone hear of the Soviet Union? Yeah that's what this country is turning into.

Also, the government isn't going to change the way it does things until the American people as a whole stand up and make them. Congress and the president have gotten too comfortable and seem to have forgotten that we're their employers, not the other way around.
[/quote]

You are wrong. They did. I will find the support to prove that later today but they did.

The point of all of this is Barak Obama is standing up on his campaign stops blaming all of this on Bush. All of the Obama supports in the presidential thread have done the same thing. Do you see how completely naive you are in believing this? That is the point. I know that ultimately it was the fault of the people not being able to pay there mortgages. What the Democrats do, though, is greatly contribute to a problem, then stand back and place the blame on President Bush. The media eats it up and the majority of liberals on this message board do and propagate the same nonsense. You all try to sound as intelligent as you can while doing it, but it is a bunch of BS.
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post #8 of 28 (permalink) Old 09-17-2008, 09:49 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

Even if the government did tell them to do it, Freddie and Fannie were privately owned companies so they didn't have to do it. In either case, they were both pretty stupid for doing it.

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post #9 of 28 (permalink) Old 09-17-2008, 09:54 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

[quote author=Timotheus link=topic=123696.msg2620502#msg2620502 date=1221659354]
Even if the government did tell them to do it, Freddie and Fannie were privately owned companies so they didn't have to do it. In either case, they were both pretty stupid for doing it.
[/quote]

Well, Freddie and Fannie were/are quasi-governmental companies. Can't really compare them to other traders of debt.

The government did encourage this by placing such importance on home prices, home ownership rates, etc. It's the irrational exuberance from the '90s, just directed towards the housing and lending industries.

Greenspan deserves much of the blame, as well. Formerly thought to be an economic genius, now everyone and their dog wonders why he didn't see this coming after keeping rates irrationally low for way too long. By the time Bernanke stepped into his office, he was already screwed by his predecessor.
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post #10 of 28 (permalink) Old 09-17-2008, 09:55 AM
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Re: Dems to blame for Fannie Mae and Freddie Mac

[quote author=timmyj link=topic=123696.msg2620475#msg2620475 date=1221658354]
The media eats it up and the majority of liberals on this message board do and propagate the same nonsense. You all try to sound as intelligent as you can while doing it, but it is a bunch of BS.
[/quote]

I find it hilarious that you're being exactly as one sided (but for Bush) and somehow think that's different than what anyone else has been doing.

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