Latest Breaking News
In reply to the discussion: Barney Frank Would Welcome Interim Appointment To Fill Kerry’s Senate Seat [View all]JDare
(2 posts)January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee. The economic meltdown that happened 15 months later was in BANKING AND FINANCIAL SERVICES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy. And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress So when someone tries to blame Bush...
Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 &2011. If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.
Clinton reinstituted the Community Reinvestment Act in '95, formerly passed by Carter in '77 and doubled down on it by forcing the Fed to lower credit standards so poor minorities could own a home without a down payment, credit check, or a job.
Obama was working for Acorn during that same period as a community organizer, shaking down banks in south side of Chicago by forcing them with lawsuits of racial bias.