Comments on: "Let's not overreact…" Legislators talk about Fannie and Freddie

By: Kurtis

Kurtis — Mon, 06 Oct 2008 16:52:35 +0000

I agree with the above comments that said Fannie and Freddie were getting it from both sides.
IIRC, the private sector loan houses (which sold to Fannie and Freddie, who then sold to Wall Street) were threatening to bypass them and sell directly to Wall Street if they didn’t start buying up some of their riskier loans as well.
It was a damned if you do or damned if you don’t kind of situation. When everybody on all sides is saying “do this” it starts to hammer down your defenses.
Unfortunately, for everybody saying that oversight and regulation would’ve fixed this: do you honestly think that the parties pressuring Fannie and Freddie wouldn’t have pushed through legislation pulling any oversight that had existed? Come on: this is what economic bubbles look like. They aren’t strictly preventable because the pressure of the market is what encourages everybody to behave stupidly at the exact same time.

By: minty

minty — Fri, 03 Oct 2008 05:58:17 +0000

From Aceofspades’ list of Biden “lies”:
8. OIL TAXES: Biden falsely said Palin supported a windfall profits tax in Alaska — she reformed the state tax and revenue system, it’s not a windfall profits tax.
And here’s what a quick google search turns up:
http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html
Windfall tax lets Alaska rake in billions from Big Oil
http://hotair.com/archives/2008/08/11/palin-backed-alaskan-windfall-profits-tax/
Palin backed Alaskan windfall-profits tax

By: Marty

Marty — Fri, 03 Oct 2008 00:20:59 +0000

Who are the top recipients of Fannie & Freddy campaign contributions?
Dodd, Christopher $165,400
Obama, Barack $126,349
Kerry, John $111,000
Amazing really, how much they’ve given to Obama considering the incredibly short time he’s been in office. No wonder he’s now deflecting blame onto Wall Street.

By: anonymous

anonymous — Thu, 02 Oct 2008 16:51:04 +0000

Both Parties (Republican and Democrat) have completly sold out to special interest groups from Wall Street. From now on I’ll be voting for anyone who is not a Republican or Democrat, I don’t care if it’s an Independant, Third Party or the Local Dog Catcher.
Vote for anyone who is not a Republican or Democrat in 2008.

By: Drowssap

Drowssap — Thu, 02 Oct 2008 16:12:04 +0000

I’d love to stick it to the Dems on this one but the truth is that the blame is all around.
Here is a video of Bush advocating lower standards to get more poor people into homes they can’t afford.
Burning Down The House: (Karl Rove – Bush Version)
Republicans and Democrats were in a heated race to see who could be the most politically correct and financially irresponsible at the same time.