Zeev's Turnips Talk Politics (ZTTP)

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No fooling ! The question is -
HOW IT GOT THAT WAY

Start with Dem control of Congress in 2006
Start with Barney Frank Maxine Waters and Chris dodd
telling us
there is NO PROBLEM with
Fannie Mae and Fredddie Mac

Start with Franklin Raines
maxing out his salary
and leveraging the loans

Start with
carter and clinton
telling BANKS/Mortgage companies
that they would be charged and prosecuted
for RED LINING unless they through out the rules
and
Made loans to minorities
that had no down payments
and had NO income to make payments
Banks obeyed
and
DESPITE 14 warnings by the Bush Admin
Barney Frank DEFENDED
Fannie Mae and Freddie Mac
and ASSURED that
they were SOLVENT !

Catch Barney's GANG on You-Tube

LYING US RIGHT DOWN THE TUBES !

Quotes:

“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Barney Frank 2003 in response to Bush administration overhaul plan.

“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”

John McCain

There is a new YouTube video out that reveals the truth about problems leading up to the bailout crisis and who caused them:

“Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.”