Monday, September 29, 2008

Republitarian: Shameful Video of Democrats Rejecting Oversight of Fannie and Freddie Called for by House Republicans in 2005

While here I posted a peice about how a few years back Rep. Baker (R) of Louisiana had called out the practices of Fannie Mae and Freddie mac and in fact challenged the truthfulness of the very tesitimony CEO Franklin Raines gave before a Congressional committee.

Over at the blog Republitarian, , they have the video that goes along with the piece we posted here that was dug out of hours of Congressional video footage.

It is the opinion here that the following leaders on display in the video simply have no shame.

It is leaders such as these that create such low approval ratings of our Congress and should be fully investigated as to the degree in which they personally or professionally have gained from the causes of this financial crisis.

Rep. Meeks
Rep. Waters (center stage this week and vocal about how crisis caused by Wall Street)
Rep. Franks (at the forrfront today as Finance Chairman in the House)

All defend their friends at Fannie Mae and Freddie Mac and have the audacity to blame regulators and not the management of these companies as far back as 2005 when regulators were alerting Washington to the mess in the books at these companies.

Democratic Solution in 2005? Hang the Regulators out to dry!!!

Is it not the Democrats now who say we need more and more regulation as they accuse Republicans as not wanting to regulate wall Street? Was it not the Republicans calling for it back in 2005?

Was it not Rep. Franks who stated that these mortgage gaints were "safe and secure"? Is he not now just three years later the Chairman of the Finance Committee in the House?

Well the video shown below shows Republicans calling for increased regulations as early as 2005. The actions of:

Rep. Baker
Rep. Royce
Rep Shays

Did not George Bush call for increased regulations and oversight by Congress?

Display that as far back as 2005, it was Republicans calling for increased scrutiny into the mortgage giants failure to follow the guidelines mandated by regulators in their accounting. Republicans called for more oversight by Congress and Democrats rejected it.

If you want to gain insight into how we got here, visit here and play the video.

Pay particular attention to Bill Clinton's comments about fellow Democrats who dropped the ball here.

This is a nice tie in to our previous post. Good work over at Republitarian.


Anonymous said...

It really makes you wonder how a "fair" press lets these politicians off the hook in terms of responsibility and allow the same few members to cast blame on others eventhough the video illustrates that they knew just what could happen.

Now that the fears of those has been expressed in the markets, none of the media feel compelled to follow up and connect the dots.

Its why we always have more of the same. All of the elites simply seek to protect their own turf.

John said...

And there you have the ball game folks!!!

Of course there is a Blackout in the media and no one will ever see this stuff on television.

Freedom of the Press= Freedom to be Biased