Arrgggh!
October 11th 2008 03:39
Sometimes I have those moments when people on TV make me so mad I want to climb into the TV and pour a bucket of ice water over their heads.
I'm so sick and tired o hearing that the mortgage mess was caused by the Republicans being against regulation. It's just not true.
It was actually a regulation that got us into this mess! The regulation: The enforcement of the Community Reinvestment Act by forcing banks to make these lousy mortgages or face civil and criminal lawsuits. When the banks still fought it, Fannie and Freddie, run by liberals like Franklin Raines and Jim Johnson and Barney Frank's boyfriend said, "Go ahead and make the loans and we'll buy the securitized mortgages from you so you don't end up holding the bag!"
Many banks like Lehman and Wachovia also tried to make money off these bad mortgages out of greed, but it was the encouragement of these bad loans by liberals in the name of "affordable housing".
Watch this video if you haven't already
It was a regulation with NO OVERSIGHT that caused this. Who killed the oversight? The Democrats fillibustered every attempt at oversight that came through the Senate. It takes 60 votes to get anything to the floor and the last two times we had fillibuster proof senates, we got "The New Deal" and "The Great Society", which are both going to eat us alive.
Oversight: Watching over people making sure they are following the rules and not cheating.
Regulation: Establishment of rules to operate under.
We had very bad regulation, and Democrats blocking oversight or review and correction of that regulation!
Barack Obama wrote a letter. Senator McCain helped craft a LAW that Democrats kept from seeing the light of day to increase OVERSIGHT and REGULATE this problem.
But nobody, not even conservatives like Sean Hannity seem to want to counter the argument that McCain is against regulation with the assertion that it was BAD REGULATION THAT CAUSED THIS!
GRRRR!
I'm so sick and tired o hearing that the mortgage mess was caused by the Republicans being against regulation. It's just not true.
It was actually a regulation that got us into this mess! The regulation: The enforcement of the Community Reinvestment Act by forcing banks to make these lousy mortgages or face civil and criminal lawsuits. When the banks still fought it, Fannie and Freddie, run by liberals like Franklin Raines and Jim Johnson and Barney Frank's boyfriend said, "Go ahead and make the loans and we'll buy the securitized mortgages from you so you don't end up holding the bag!"
Many banks like Lehman and Wachovia also tried to make money off these bad mortgages out of greed, but it was the encouragement of these bad loans by liberals in the name of "affordable housing".
Watch this video if you haven't already
It was a regulation with NO OVERSIGHT that caused this. Who killed the oversight? The Democrats fillibustered every attempt at oversight that came through the Senate. It takes 60 votes to get anything to the floor and the last two times we had fillibuster proof senates, we got "The New Deal" and "The Great Society", which are both going to eat us alive.
Oversight: Watching over people making sure they are following the rules and not cheating.
Regulation: Establishment of rules to operate under.
We had very bad regulation, and Democrats blocking oversight or review and correction of that regulation!
Barack Obama wrote a letter. Senator McCain helped craft a LAW that Democrats kept from seeing the light of day to increase OVERSIGHT and REGULATE this problem.
But nobody, not even conservatives like Sean Hannity seem to want to counter the argument that McCain is against regulation with the assertion that it was BAD REGULATION THAT CAUSED THIS!
GRRRR!
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Comment by Lester Caudill
Round Politics
Which comes back to BaracK Hussein Obama which was their lawyer, trainer, and funded them with 800,000 dollars out of his campaign, so Barack has this mess all over his hands, and he can't wash it off or hide it anymore. Now if someone will just shine a light on him.
Comment by S.L.
The Political Brief