The Mobfather
New member
NY Times Sept 2003
WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
BLOCKED BY DEMOCRATS
*****Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.***
Barney Frank -
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''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 Melvin L. Watt, Democrat of North Carolina, agreed.
''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,'' Mr. Watt said.
http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?pagewanted=all
Obama speaks of "Failed policies of the Bush Administration"
Do liberals know what fools they are being made of?
The whole story ?
Sure.. here ya go..
http://archives.clintonpresidentialcenter.org/?u=102397-vp-announces-record-homeownership-level.htm
http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html
http://www.presidency.ucsb.edu/ws/index.php?pid=51448
Subprime Mortgage started in 1995
mhmm.. where are my liberal friends ?
Colleen.. read the provided links.
Then search Democrats Housing Crisis... there's plenty of facts out there if you choose to allow them in.
@ Colleen..
Where do you think Bear Sterns and all those failed companies bought their Mortgage Securities !!!!
FRom FANNIE MAE !
WASHINGTON, Sept. 10— The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
BLOCKED BY DEMOCRATS
*****Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.***
Barney Frank -
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''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 Melvin L. Watt, Democrat of North Carolina, agreed.
''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,'' Mr. Watt said.
http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html?pagewanted=all
Obama speaks of "Failed policies of the Bush Administration"
Do liberals know what fools they are being made of?
The whole story ?
Sure.. here ya go..
http://archives.clintonpresidentialcenter.org/?u=102397-vp-announces-record-homeownership-level.htm
http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html
http://www.presidency.ucsb.edu/ws/index.php?pid=51448
Subprime Mortgage started in 1995
mhmm.. where are my liberal friends ?
Colleen.. read the provided links.
Then search Democrats Housing Crisis... there's plenty of facts out there if you choose to allow them in.
@ Colleen..
Where do you think Bear Sterns and all those failed companies bought their Mortgage Securities !!!!
FRom FANNIE MAE !