Quote:
Originally Posted by ITD
I remember 5 to 10 years ago, many prominent mayors, congressmen and senators jumping up and down because banks were not writing low income people loans. They were threatening legislation and lawsuits. Well, they got their way and look what happened......
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Incredibly, there was not one word in the bailout bill that failed yesterday about stopping those insane lending practices. Barney Frank and other Democrats want them to continue.
In 2004 many Republicans and regulators were begging to reform Freddie and Fannie but were repeatedly blocked by the Democrats. They wouldn't even allow a vote on the proposed reforms. Watch this closely before you blame Republicans for this mess. Watch it all:
http://www.youtube.com/watch?v=_MGT_cSi7Rs&e