McCain Predicted the Fannie/Freddie failure in 2006

[gabester]

Check out work by the Woodstock Institute circa late 90s, early 2000s for interesting work related to this stuff:

http://www.woodstockinst.org/

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[robfilms]

Lux Interior wrote:
[quote=swampy]
So what was HE supposed to do? He can't pass a bill by himself.

Damn! If only there had been a Republican majority in the house and senate that could get almost anything signed by the Republican president for 6 of the last 8 years!

Oh wait, there was! I guess they were too busy worrying about Terri Schiavo & gay marriage.

Well at least Terri is still alive and gay marriage is now illegal in all 50 states!
lux-

that was funny. thanks for a giggle.

(then again, too bad this election is almost too serious to smile.)

be well

rob

[Lux Interior]

swampy wrote:
Way to change the subject, Lux... That's what you do when you don't have anything factual to add to the discussion.

So, you said that he "can't pass a bill by himself" and I responded by saying that his party held the executive and legislative branches for 6 years.

During this six years, Bush vetoed exactly ONE bill! So I think McCain has no excuse for not acting to stop this.

In reality, McCain is was a big supporter of deregulation and helped pass laws that allowed these financial behemoths to come to life. And now we get to watch as they, along with our 401ks, crash & burn.

The rest of my post was what I call sarcasm. Although, the bill Bush vetoed was for stem cell research funding, which may help people like Terri someday. So it was a bit on topic.

[JoeH]

swampy wrote:
[quote=Black Landlord]
So Swampy, McCain stands for increased government regulation?
Swampy?
Hello?

Landlord... Fannie and Freddie ARE government controlled to start with. They are not privately owned. F/F are the direct result of the failure of the FHA. The basic problem is that Congress laid too much regulation on F/F in telling them they needed to lend more money to minorities and some liberal's bright idea that _everyone_ should own a home so insisted that banks make loans to people who "normally" would not qualify. Ergo sub-prime loans that were destine to go sour.

Way to change the subject, Lux... That's what you do when you don't have anything factual to add to the discussion.
Fannie Mae and Freddie Mac are government sponsored entities, GSE's, not government controlled until the recent takeover. Fannie was a government agency from its creation until 1968 when it was privatized. Freddie was created in 1970 as another GSE private corporation to be competition to Fannie. Both were privately owned with stockholders and all that implies. So swampy, you are talking out the wrong end again.