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Mortgages for a Brave New World (Sarcasm)
#18
However, if you really must play the finger-pointing game, then let's.

Fannie Mae, one of the roots of this crisis, was pressured by the Clinton (D-AK) administration to buy up more subprime mortgages from banks in packages known as "mortgage-backed securities". You can take a look at this scarily prophetic article for more information on his dangerous gamble.

Barney Frank (D-MA) said he wanted to "roll the dice" when it came to subsidized housing provided largely by Freddie and Fannie.

Maxine Walters (D-CA) said that "we do not have a crisis at Fannie Mac... or Fannie Mae..." as well as a bunch of other scary stuff. Like trying to prevent the regulator from getting into either mortgage giant.

Chris Dodd (D-CT) took the largest amount in campaign contributions from Fannie and Freddie.

Gregory Meeks (D-NY) said that there was no problem with Freddie Mac.



Take a look at this video for some great clips of Congressional Democrats downplaying the issue, while Congressional Republicans begged for more regulation.
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Re: Mortgages for a Brave New World (Sarcasm) - by Stizzealth - 11-21-2008, 01:28 AM

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