Fannie Mae/Freddie Mac Hearings 2004

[WhoCaresFU]

The US government is awesome, isn't it? But do not blame them, as the US population votes these wonderful politicians in. Yes, I am saying that the US population are feminized and useless and will soon lose any freedom they think they have. Happy New Year ID10ts.

[GoldenKeyVideos]

Facts, facts, facts, warning, warning, warning... RACISM! [end of discussion]

[toddttucker1968]

It's called Fillibuster

[597914]

Seriously...you don't have to single out one party you ingnorant fools. For facts this started with Regan who first signed the deregulation...passed on down through Bush Sr. Clinton, Bush II and handed off to Obama. They've all had a hand in this, but most of the blame lies with Wall St for insuring against their own risky loans...nobody held them accountable but you sure pile on the unions for all this mess. LOL! idiots.

[dbstooge]

Meeks and Clay are nigger cunts

[xxashyy]

Blacks are always describing something they don't like as a "Lynching".

[757optim]

Dummycrats - There is NO risk. The Regulator is trying to fix something that isn't broke. OUTSTANDING leadership of Mr. Frank Raines. 100% liar loans are a good thing. "Political lynching..." Blah, blah, blah. Have you figured out the problem yet, America? Remember in November.

[IdiotsForObamaCom]

Tony, you are an idiot. Great site for you- IDIOTS4OBAMA COM . Don't even try to blame anyone other than democrats for the housing collapse you dickhead. They made it possible. Raines, Johnson Frank Dodd and Obama should all be in jail. BillClinton is a dirtbag.

[dac8555]

#1 nice very selective editing.#2 Regulation of FRE/FNM is important, but just part of the equation. FRE/FNM are just RE-insurance companies. They didn't sell or originate the loans. #3 Granted, they never should have backed them and regulation needs to be stricter. But, if regulation had been toughter then the reps would have been screaming "socalism!" Where are the "free market" republicans in this case?

[billyboy630]

The real troublesome is part is the indignation with which they all spoke not just the denial. Not one of them seemed the least bit interested in learning the facts or asking questions.

"Lynching of Franklin Raines"?

"I am pissed off"? Had this been republicans saying these things it would be a completely different situation

[nowakk2840]

Hate to say it, but Maxine Waters is an idiot. She is corrupt, clueless. Same with many of the other politicians shown in this video.

[uzijohn]

The Democrat representatives from financially depressed areas all sang the same song

My constituents first and the country be damned

But this attitude in effect has damned them both!

[nuclearnemesis]

They obfuscate, deny, and lie.

History has proven the lunatics betrayed America and her citizens.

H.R. 3703: Housing Finance Regulatory Improvement Act (2000) -- maybe earlier?

Their treason has been on record for a long time.

The government and their GSEs enabled the financial crises, upon which the Democrats campaigned and seized power. The scheme is reminiscent of the events surrounding the downfall of the Weimar Republic.

History, once again, repeats itself.

[scola91660]

Meeks from Georgia is the only one in this video that has recently owned up to the fact that he was wrong.

[scola91660]

To a significant extent, the people defending Fannie Mae and Freddie Mac in this video are the culprits.

[MrTJHancock]

The radical left side of the Dem party drove the global economy into the ground, yelled "crisis," disavowed responsibility, and are trying to do far, far more. Interesting times...

[raptorchick21]

As a mortgage banking professional, this piece demonstrates precisely why we are in trouble. These idiots looked the other way. Note that they are all dems.

These GSE's was the Pace Car for the Industry.... they set the stage for the whole country. I just hope that all of these idiots lose their seats in congress ... I can't believe Barney Frank is still on the Financial committee.

[Salford999Red]

Ssshhhh. There is no crisis. Did you not get the memo from the White House?

[ThePgajon]

Sick Dems!

[drawandstrike]

It's true SOME Republicans were trying to sound the alarm, begging for something to be done in 2004. Many Republicans were off doing other stuff. But the Democratic Party stood firm as a monolith, in complete lockstep on this - hands off Fannie and Freddie - that's ours and you don't touch them.

[panther426]

Author Davis said it correctly at 4:21 why they were reluctant. The accusers needed to come with stronger evidence for such an outrageous claim, that although true, seemed outrageous at the time! I didn't hear anybody putting this on blast on youtube back in 2004.

[tonystjames]

Correct me if I'm wrong, but weren't the White House, the Senate and the House all controlled by Republicans in 2004? Why didn't the Republicans do something about this then? They clearly had the power to have fixed the problem.

Oooooohhhh....now I remember why they sat on their collective asses and let this happen. It was an election year.

I notice that this videographic triumph of "truth" is conspicuous for its failure to note who held the reins of power in 2004.

[jollo30]

tony, tony, tony. A bill must get to the floor before a vote. The Republicans introduced a Bill, but the Democrats prevented it from ever getting out of committee. Yous must be a died in the wool liberal to consider a slight congressional majority to be the reins of power.

[tonystjames]

jollo, jollo, jollo. I helped get a Republican Congressman elected in 1994, 1996, 1998 and 2000 (so much for your "died in the wool" lib theory) and I am completely familiar with house procedures. The Republicans controlled the committee that could have pushed a bill to the floor, so if it didn't make it, it's because they didn't push it. This video is partisan BS designed to try and make you forget that the Republicans are responsible for this mess, too.

[cwilderness]

This was all created by the Libs, buying their voters by offering something for nothing (free houses). Remember O'Bambi's "community organization" with a group that worked for "affordable housing"? Guess what? That was O'Bambi working with ACORN, who fostered mortgages for deadbeats and poor who couldn't pay for them, and getting Fannie and Freddie into this morass with mo money mo money for mortgages that should never have been!

[tonystjames]

If you think this was all created by the Libs, you must be drinking the Kool-Aid pretty heavily. The facts are that both sides of the aisle created this mess and they are both trying hard to pin the blame on the other party. Stop drinking the Kool-Aid that I can assure you they want you to keep on drinking. Stop falling for this partisan BS and hold them all accountable for the mess they have all made -- Dems and Repubs alike.

[cwilderness]

Nope, sorry...wrongo! The Dems own this kind of socialistic nonesense. You're not going to find conservatives laying out the crapola that the poor and minorities were "discriminated against" by lenders who wouldn't give them mortgages. Heaven forbit you have to be able to actually PAY your mortgage before you can get it. The Dems OWN the race and class cards that were played in the creation of this mess.

[tonystjames]

It's soooooo easy to spot a Kool-Aid drinker: They don't have any ideas that they didn't get from their chosen party or some talking head, and they never bother with the facts. You are wondering in the "cwilderness" of political ignorance, "my friend." If you were half as bright as you think you are, you would know that it was a Republican who in 2000 authored the legislation that allowed banks to trade in credit-default swaps. Get the facts straight before you go shooting your mouth off.

[cwilderness]

I'm sorry...I thought George Bush's term started in 2001... oh, WAIT! It WAS Bill Clinton who was president in 2000.  Hmmm,...

[tonystjames]

Oh, and is that also the year that the Constitution was amended so that the Executive Branch should be granted legislative authority?

[DenneyCrane]

You need to be sorry! This actually started when Jimmy Carter signed into law the Community Reinvestment Act and Bill Clinton put pressure on the financial community to loan money to low income families... Dumbass

[cwilderness]

By the way...YOU really need to get YOUR facts straight. CDS are unregulated and unlegislated instruments, which are creatures of private contracts between parties, trading risk. Stop talking out of your butthole.

[tonystjames]

Precisely. And before Republican Senator Phil Gramm -- the McCain campaign's economics advisor until he stuck his foot in his fat mouth a couple of months ago -- got involved, those "private" commercial banks could not trade in credit default swaps.

Gramm is presently on the board of directors of UBS Securities, the U.S. division of Swiss banking giant UBS Warburg. He has spent the last several weeks lobbying to make sure his foreign bank gets in on the $700 billion bailout. Check your facts.

[panther426]

Very well said. This is all about shifting the blame, so it seems. I would love it if it just played out the facts heard, in multiple videos. This SEEMS more like a political thing, with all the titles and what not. Democrats and Republicans? Its a democratic republic government, meaning we take ideals from both concepts of thinking. The best of both. Its a shared responsibility and we need to study the economics of what transpired, hold individuals responsible, so it doesn't happen again.

[toddclemmer]

@tonystjames You are clueless. You talk about Kool-aid? Its running down your shirt.

[frattura30]

@tonystjames The Bush administration warned Fannie/Freddie 17 times that regulations needed to be put in place. There was a blatant disregard by democrats in this video. This video also shows quite clearly, the blindness on the part of the democrats refusing to see the train wreck that eventually came and ruined many lives. It also shows the greed and complete disregard for fiscal responsibility.

[karp1941]

@frattura30 not only that is that they played the race card , when they said the gop was going after frank rains !!!!

[GoldenKeyVideos]

@tonystjames Thanks for ignoring the facts... the GOP did try. Elizabeth Dole introduced a bill that died in the Senate which requires 60 votes to end filibusters. The GOP never had 60 votes. Bush started talking about this issue as early as 2001.

[toddclemmer]

@tonystjames, who do you think sent the regulators that you see in the video?

[jellimonsta]

Oh wait... this isn't all Bush's fault? :p

[jdclyde]

Funny how this video and videos like it are ignored now.

[buffaloman1980]

now i know who the real crooks are

[philh37]

In the Bible it says "call no man a fool." Obviously the Bible was written before there were Liberal Democrats.