“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.” Representative Barney Frank (Democrat, MA)
”I don’t see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,” Representative Mel Watt (Democrat, NC)
Did you know that in 2003 President Bush proposed more oversight on Fannie and Freddie? Did you know that the above quotes are from what the Liberals thought of his proposal? What a joke. I mean, these same Democrats last week said “Blame? Who? Us? No way. this is ALL the fault of President Bush.” Facts don’t lie and the above quotes say it all. Back in the 90′s, under Clinton, these same Liberals pushed for looser lender guidelines and all but threatened Lenders if they didn’t start lending more.