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Late 2004: Democrats Blamed The Messenger!

Did you know that there is a government oversight organization that is overlooking the GSEs (Government Security Enterprises) like Fannie Mae and Freddie Mac?

Did you know the Office of Federal Housing Enterprises Oversight (OFHEO) were warning about this crisis - and the Democrats said "Screw You" to the oversight director?



CNN Commentary: Bankruptcy, not bailout, is the right answer!
  • Government encouraged lenders to relax their standards.
  • Mortgages were given to people unqualified to repay them.
  • Rather than a bailout, government should let firms go bankrupt.
  • Talk of economic Armageddon is scare-mongering.

    BTW - 40% of the Democrats in the House voted against this "economic Armageddon" bailout:
    House Speaker Nancy Pelosi ordered her Majority Whip, Jim Clyburn, to essentially not do his job in the runup to the vote on Monday for the negotiated Wall Street bailout plan, according to House Democrat leadership aides.
    http://www.spectator.org/dsp_article.asp?art_id=13967