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September 29, 2008

Democrats In 2004…There Are No Problems At Fannie Mae Or Freddie Mac!

Caught on tape…Republicans warning about the problems caused by handing out mortgages like candy on Halloween and Democrats claiming those concerns were simply a way to stop poor people from getting homes.

Behold video you won’t be seeing in the MSM…

As Ace says, the Democrats built the bomb that ripped through the markets.

I think the worst thing about this bailout plan is it makes it nearly impossible to argue for free market solutions to problems going forward. Regardless of how much of the $700 Billion is actually spent or recouped, it will be thrown in the faces of people who say, ‘let the markets work’.

I’ve tried to explain the roots of this problem to several people and their eyes just glaze over. They don’t want to hear about the Community Reinvestment Act, ‘mark to market’, mortgage backed securities, Franklin Raines and all the rest. They just know that Wall Street came hat in hand looking for their money (okay, it was more like a stick up with a gun to our heads and dire threats if we didn’t fork over the money).

And let’s not forget to follow the campaign money.

RELATED: The House is debating the bailout bill right now and Barney Frank is managing the bill for the Democrats. It's enough to make you throw up. You can watch it online (it will be therapeutic for you if you have low blood pressure problems).

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posted by DrewM. at 10:47 AM

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