Just imagine,....if Franklin Roosevelt and his buds hadn't shredded the Constitution, and invaded the private housing market with Fanny and Freddie, the mortgage meltdown never .....NEVER....would have occurred.
By endorsing creeping communism, Democrat policy....enforcing government occupation of the private economy without authority to do so, he gave us the this:
"... the total lost household wealth at $19.2 trillion. But that doesn’t take into account long-term effects of homeowners who may be less socially mobile — and therefore contribute less to the economy over time."
How Much Did the Financial Crisis Cost?
Remember who to blame....and it isn't Republicans.
can you tell me what happened to those many millions who lost jobs in gwb's last year did they just disappear and obama started even?
I'll be happy to tell you why they lost jobs, and we lost $trillions.....Roosevelt and the Democrats.
Let's see if you have either the ability to learn, or the character to respond honestly:
1. "During the Great Depression, as borrowers defaulted on mortgages en masse and banks found themselves strapped for cash, President Franklin D. Roosevelt and Congress created Fannie Mae in 1938..."
Breaking News, Analysis, Politics, Blogs, News Photos, Video, Tech Reviews - TIME.com
2. His drones, Liberals, went on to compound the problem, and the illegality....
"The FHLMC was created in 1970 to expand the
secondary market for
mortgages in the US. Along with the Federal National Mortgage Association (
Fannie Mae), Freddie Mac buys mortgages..."
Freddie Mac - Wikipedia, the free encyclopedia
3. "
Democrats Were Wrong on Fannie Mae and Freddie Mac"
Democrats Were Wrong on Fannie Mae and Freddie Mac
Why do you Democrats continue to make life worse for Americans?
but you still didn't tell me where those millions who lost jobs under bush regime went Did or did not Obama have to deal with that?
Every time I make you eat your words, you pretend that the posts didn't happen....you know, as in your fear of backing up your claims of 'racism.'
Let's stick to who is responsible for the loss of jobs, $ trillions and lots of homes: Democrats.
"The White House called for tighter regulation 17 times.
Seventeen. That's how many times, according to
this White House statement (hat tip
Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation."
http://www.usnews.com/opinion/blogs...rats-were-wrong-on-fannie-mae-and-freddie-mac
"Yet Barney Frank and his chums blocked all Bush's attempts to put a rein on Raines. During the House Financial Services Committee hearing following Bush's initiative, Frank declared: "The more people exaggerate a threat of safety and soundness [at Freddie Mac and Fannie Mae], the more people conjure up the possibility of serious financial losses to the Treasury which I do not see. I think we see entities that are fundamentally sound financially." His colleague on the committee, the California Democrat Maxine Walters, said: "There were nearly a dozen hearings where we were trying to fix something that wasn't broke. Mr Chairman, we do not have a crisis at Freddie Mac and particularly at Fannie Mae under the outstanding leadership of Mr Franklin Raines."
Bubble Meter: Barney Frank and Christopher Dodd deserve blame for Fannie and Freddie
Now....where is your apology?????