Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown

The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis -- starting in 2002 (and actually even earlier -- in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn't afford them -- just like you would expect of socialists. See our web site for more.
-- http://www.ProudToBeCanadian.ca
http://www.proudtobecanadian.ca/index/category/the_liberal_left_ruining_the_f...
-- http://www.proudtobecanadian.ca/blog/index/writergroup/9391/

Category:

News & Politics

Tags:

• conservative

[forzapack]

Home ownership is not a right. It is a privilege that must be earned. Government has no business at all in the mortgage business. Home ownership is still declining and at the lowest level since WWII. Again, government means well but there are unintended consequences...

[usagill]

Barney Frank should be  in jail along with all the other Dems who created this scam. Lockem up now

[rb8460]

@Bristow: Why did those bets go bad? If Fannie and Freddie didn't create so many bad-borrower mortgages, those bets aren't made at all.

[15Arigold]

Great video clip. If you listen to Barney now he blames Republicans for everything.

[bristow0156]

Republican sponsored CFMA, signed by Clinton on the advice of Summers, allowed regulated institutions to gamble in derivatives w/o oversight. Bets gone bad caused the 2008 financial meltdown, drying up cash reserves that were fueling the housing bubble

If you allow people running corporations to be as greedy as they want, then you invite unscrupulous acts & world shaking financial instability

Between borrowing & taxes we spent over $50 trillion in the last 10 years. Who has it?

[truthinstyle]

America must investigate Barney and Dodd! Stop these crony Dem corrupt members of Congress from getting away with murder!

[Strgchris]

@AtlasShruggery Do you have brain damage? Did you watch the video? If you did I will conclude that you have brain damage. If not please refer to the video or basic google searches. I would start with basic searches like "Bwarney Fwrank housing crisis".

[lmdslam]

Volume of subprime and nontraditional lending (ARM loans) from the top 25 nonprime lenders originated $105 billion in 2000.

Then after bush’s home ownership society in 2002 (go to youtube, search HOMEOWNERSHIP AND PRESIDENT BUSH)

it rose to $188 billion in 2002.

Bush sign's the American dream downpayment act.

$310 billion in 2003.

Jan. 04 the OCC trumps states rights and lets predatory mortgage lending explode.

$730 billion in 2004.

$1 trillion in 2005.

[ozzyman1203]

@morenanica8 THEY... "aren't" stupid... THEY DON'T CARE !

[olgadel1]

@AtlasShruggery You are still perpetuating lies. Does Debbie know what you are doing? Lefties are losing big. Bye Bye lefties!!! Bye bye.

[langagepowerstation]

Who in there right mind would have anything to do with a company called fanny and fredddy ......just the name would be enough to tell you..its like going to a car dealer called honest jhons autos ...cmon folks switch on.....

[truthinstyle]

Barney, are you really leaving? How can you give up a gig that allows you to destroy the country and its prosperity and still walk the halls of congress? I guess a commercial of you farting on TV was just too difficult to overcome in the next election.