awesome
Send it to the McCain campaign! Or to the AIE or one of the taxpayer PACs. This ad has to be produced!
During the timeframe that you site, the Republicans had fillibuster-proof majorities is both branches of congress. The referenced legislature, i believe, never even made it to the floor to vote. If it had, I don't think you would want to see how you glorious party voted.
Oh, the lobbies for Fannie and Freddie are group of seasoned lawyer from both sides of the aisle.
Oh, and I work on a DO-178B Level 'A' for the 787 avionics and we utilize Ada exceptions handlers.
Keep drinking the Koolaid. Mr. Raines doesn't work for Obama.
(http://www.nytimes.com/2008/09/22/us/politics/
22mccain.html?scp=2&sq=Raines+Fannie&st=nyt)
Todd: wrong on both counts (jeez, I'm really surprised).
1) During the time-frames cited, the GOP most decidedly did not have majorities. From 01-02 and 07-08, Democrats had control of the House, for instance.
2) Regarding Raines advising Obama, please note that the Washington Post (see link in the article) stated that... not once, but twice.
And how about Jim Johnson?
Awsome work! Thanks to Atlas for the find.
Just because the Republicans had majorities does not mean they had the political capital to expend on a problem that the vast majority of Americans did not even know existed. On the other hand, the Democrats went to the mat to keep prevent any reforms.
In hindsight, should have the Republicans went nuclear to fix the problem? Definitely yes. On the other hand, we're in the position of blaming the Republicans for not strongly fighting the Democrats. If we want to assign blame, then the blame lies squarely on the Democrats. They created Freddy Mac specifically to encourage the issuing of loans that the free-market judged to risky. When dangers and outright corruption arose, they threw up barriers to reforms. If the Democrats had not acted as they did, the Republican reforms would have significantly reduced the bubble.
In short, had the Democrats not triumphed in the policy debate over the last 40 years: (1) We would not have seen such a large residential real estate bubble and/or (2) we could have reformed Freddie Mac and the other GSE to prevent their catastrophic collapse.
This problem was caused by leftist distorting the market to try to get something for nothing. Now we're paying the price for 40 years of market distortions.
The White House link is broken. Is there any way to find the presser again?
there has to be much more $$s involved here than 150Gs--160Gs --penny ante stuff as these institutions are billions in the red.
what's 150Gs for a "donation" to this crowd ?nothin.
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