Monday, September 22, 2008

Democrats Responsible and Lying Once Again

In my link on the left hand side you will see a story entitled How the Democrats Created the Financial Crisis. If you don't read it then read this small excerpt:

For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

President Bush tried no less than 20 times to reform Fannie and Freddie. Guess who he was met with in opposition? The Democrats. And now they want more money and regulation to fix the market based on their lies that they never had anything to do with it. Obama blames it on the free market just like the socialist marxist that he is. He must have wet his pants in glee when Freddie and Fannie went downhill. Not only did he make a WHOLE lot of money because of it, but now he gets to diss the free market and the media is going to let him get away with it. Somebody wake me up from this nightmare.

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