PoliticalChic
Diamond Member
Now for all of the financial experts on this board who have been defending the Democrat felons for weeks, arguing every one of my posts where I have spotlighted the CRA, Dodd, Frank, Fannie and Freddie, and the philosophy responsible for the meltdown that has stolen trillions from Americans, read this IBD editorial.
Let The Inquisition Start With Frank
By INVESTOR'S BUSINESS DAILY
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Let The Inquisition Start With Frank
Let The Inquisition Start With Frank
By INVESTOR'S BUSINESS DAILY
For Frank, perhaps more than any single individual in private or public life, is responsible for both the housing market mess and subsequent bank disaster. And no, this isn't partisan hyperbole or historical exaggeration.
But first, a little trip down memory lane.
It was Fannie Mae and Freddie Mac, the two so-called Government Sponsored Enterprises (GSEs), that lay behind the crisis. After regulatory changes made to the Community Reinvestment Act by President Clinton in 1995, Fannie and Freddie went into hyper-drive, channeling literally trillions of dollars into the housing markets, using leverage and implicit taxpayers' guarantees.
IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Let The Inquisition Start With Frank