- Sep 19, 2011
- 28,409
- 9,985
- 900
- Thread starter
- #41
AGAIN... someone tell me that:
1) Dot.com bust didn't occur and costs $5 trillion plus 300,000 in 2001/2002?
2)That 9/11 didn't happen and didn't cost $2 trillion plus 145,000 jobs alone in NYC???
3) Worst hurricane SEASONS NEVER Occurred cost $1 trillion and 400,000 jobs???
AND that When ASKED Congress 17 times!! 17!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems. Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs."
This was what Dodd/Frank's responses were!
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."..
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie
Mae," New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and called on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
So tell me with a Democrat HOUSE the last 2 years WHY did they Laugh at Bush for trying to get the housing bubble under control by closer regulating Fannie/Freddie???
1) Dot.com bust didn't occur and costs $5 trillion plus 300,000 in 2001/2002?
2)That 9/11 didn't happen and didn't cost $2 trillion plus 145,000 jobs alone in NYC???
3) Worst hurricane SEASONS NEVER Occurred cost $1 trillion and 400,000 jobs???
AND that When ASKED Congress 17 times!! 17!
"Over the past six years, the President and his Administration have not only warned of the systemic consequences of failure to reform GSEs but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform at least 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems. Many prominent Democrats, including House Finance Chairman Barney Frank, opposed any legislation correcting the risks posed by GSEs."
This was what Dodd/Frank's responses were!
the President's warning saying:
"these two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis .The more people exaggerate these problems,
the more pressure there is on these companies, the less we will see in terms of affordable housing."..
(Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie
Mae," New York Times, 9/11/03)
* Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd also ignored the President's warnings and called on him to "immediately reconsider his ill-advised" position. (Eric Dash, "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism," New York Times, 8/11/07)
So tell me with a Democrat HOUSE the last 2 years WHY did they Laugh at Bush for trying to get the housing bubble under control by closer regulating Fannie/Freddie???