As a followup to this posting, take a gander at this video. It’s a collection of quotes and exchange originally broadcast on C-SPAN in late 2004. In short, major problems were found with the running of Fannie Mae and Freddy Mac… and the Democrat hate machine comes out in force and tars the investigation as racist… and features Franklin Raines (disgraced former CEO of Fannie Mae) who astonishingly refers to those crappy sub-prime mortgage loans with this gem: “These assets are so riskless, that their capital should be under two percent.”
SEE the amazing Maxine Waters declare that there’s not a crises at Freddie Mac and Fannie Mae!
BOGGLE at Ms. Waters refer to Raines’ leadership as “outstanding!”
STAGGER under the weight of Rep. Lacy Clay’s claim that the investigation of Raines was a “lynching!”
THRILL to Barney Frank claiming that there are no “safety and soundnes” issues!
http://www.youtube.com/watch?v=YL36nwCSYUM
If you’re a subscriber, or want to spend money, you can read the full transcript of the hearing here:
http://www.fnsg.com/transcripta.htm?id=20040225t7800&query=shelby
Bah. And now these same assholes are blaming “the market” for the problems, conveniently forgetting that while they and their buddies broke laws and lined their pockets, they helped bring about the ruination of the economy.
2 Responses to “Democrats setting up the collapse of the economy, caught on video”
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Well, I don’t know what you think, but you might reconsider it when those Oregon-made wooden children’s practice arrows start raining down on you like the French knights at Agincourt.
I don’t have clue where this whole loony thing is coming from.
Way I see it, you automaticly vote against any member of congress who votes for it, regardless of their party affiliation.
Get with the program dude. The dogma of the free market is dead. It’s cause the second great depression. If you don’t believe that, you’re racist.