Was it Fanny Mae and Freddie Mac?
Did Barney Frank and Chris Dodd block regulation of these institutions and allow this financial collapse to happen?
I agree that the solution is what is needed, but when Obama is demonizing a select few, and ignoring the very heart of the problem, it's very duplicitous indeed.
Fanny and Freddie aren't even included in this finance "reform" bill. And more bailouts is about all this bill will accomplish. This doesn't protect people at all, but merely allows financial institutions to continue to mess up and get bailed out.
I don't agree that the repeal of the Glass-Steagal Act created this mess. It only allowed it to happen. Fanny Mae and Freddie Mac were making bad loans and this led to dirivitives, etc.
It was the "Affordable" housing policies that were forced down their throat, forcing them to make bad loans.
Blame Barney Frank, Chris Dodd and Frank Raines
Did Barney Frank and Chris Dodd block regulation of these institutions and allow this financial collapse to happen?
I agree that the solution is what is needed, but when Obama is demonizing a select few, and ignoring the very heart of the problem, it's very duplicitous indeed.
Fanny and Freddie aren't even included in this finance "reform" bill. And more bailouts is about all this bill will accomplish. This doesn't protect people at all, but merely allows financial institutions to continue to mess up and get bailed out.
I don't agree that the repeal of the Glass-Steagal Act created this mess. It only allowed it to happen. Fanny Mae and Freddie Mac were making bad loans and this led to dirivitives, etc.
It was the "Affordable" housing policies that were forced down their throat, forcing them to make bad loans.
Blame Barney Frank, Chris Dodd and Frank Raines