New Agency Proposed to Oversee Freddie Mac and Fannie Mae - New York Times
Nobody in the MSM needs to look of course, but WAY back in 2003, that bastion of conservative thought, the NYT ran this column pointing out how WRONG Bush was about the need for more Freddie and Fannie regulation, and how RIGHT brilliant Democrats like Barney Frank were in opposition to any more control, because there were NO PROBLEMS!
See, it is GREAT to be a Democrat. You take a position AGAINST more regulation when the administration and the Republicans propose it, and THEN, when it is clear that you were WRONG, the MSM forgets that and let's you blather about Bush failing to regulate. Note also how it is clear even in 2003 that the Democrats understand that if these agencys are regulated like they should be, it will mean "less bargaining power for poorer families". That is regrettable, but it isn't like taking out high risk loans turns out to be FREE is it!!! If you want to do that, why not try to vote a federal subsidy through in the open rather than sink the credit markets and then blame them for the sinking!!
This is the same kind of brilliance as BO saying "The surge will make things worse"!!! Of course, we have a press that does equal treatment -- the fact that Bush thought there were WMD (along with EVERYONE else) and we never found it is something they ignore just as much as they ignore BO being wrong about the surge.
Nobody in the MSM needs to look of course, but WAY back in 2003, that bastion of conservative thought, the NYT ran this column pointing out how WRONG Bush was about the need for more Freddie and Fannie regulation, and how RIGHT brilliant Democrats like Barney Frank were in opposition to any more control, because there were NO PROBLEMS!
'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.
See, it is GREAT to be a Democrat. You take a position AGAINST more regulation when the administration and the Republicans propose it, and THEN, when it is clear that you were WRONG, the MSM forgets that and let's you blather about Bush failing to regulate. Note also how it is clear even in 2003 that the Democrats understand that if these agencys are regulated like they should be, it will mean "less bargaining power for poorer families". That is regrettable, but it isn't like taking out high risk loans turns out to be FREE is it!!! If you want to do that, why not try to vote a federal subsidy through in the open rather than sink the credit markets and then blame them for the sinking!!
This is the same kind of brilliance as BO saying "The surge will make things worse"!!! Of course, we have a press that does equal treatment -- the fact that Bush thought there were WMD (along with EVERYONE else) and we never found it is something they ignore just as much as they ignore BO being wrong about the surge.
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