edthecynic
Censored for Cynicism
- Oct 20, 2008
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Typical CON$ervative revisionism. It was 2003, not 2008 and in 2003 F and F were OK, Bush hadn't lowered the standards yet.pfft.pfft,
How about a pool for when the obama and the dems stop blaming just Boosh and take some blame for just standing there doing nothing, except of course for telling us fannie and freddie were in ok shape.
How about a pool for when CON$ stop blaming Carter, Clinton, and anyone else they can dream up for Bush's bankrupting the country by wasting money on an unnecessary war of choice in Iraq and giving tax cuts to billionaires who outsource American jobs when there was a $5 trillion national debt to be paid down.
Fannie and Freddie were OK until Bush lowered the loan standards in Dec 2003 by allowing no down payment loans for more than the property was worth to people with bad credit who couldn't make the payments with his American Dream Downpayment Initiative, ADDI.
So in 2008 when Franks, the man over seeing F and F, publically said F and F are fine, months before the collapse of FF that lead to the collapse fo the economy, was just standing there as an innocent bystander?
damn dude. Look at what Franks did, and didn't do. He had the info, he could have warned the whole world, and we may have been able to avoid this years ago.
Take a deep long look, and let me know if you think he may be guitly of treason.
If you remember, in 2005 Frank and Oxley (R) got a bill that would have reformed F and F through committee and passed in the House that the GOP Senate didn't even bring to a vote because Bush was going to veto it. In 2007 when the Dems took over Frank got the Federal Housing Reform Act and the Mortgage Reform and Anti-Predatory Lending Act passed in the House. It was resisted by Bush but it eventually reached Bush' desk in July 2008, too late to save the economy Bush destroyed.
Bush still owns the housing market crash, but do try again.