AP story notes Republican involvement in GSE mess
December 7, 2008
I’m fully on board with blaming Democrat lawmakers in Washington for contributing to the mortgage crisis that started with Freddie Mac and Fannie Mae. Republicans introduced legislation that would more closely regulate the government sponsored entities (GSEs). Democrats - including Barney Frank (D-Mass.) - blocked that legislation, all but calling those asking for the changes racist.
Fox News and bloggers brought those stories to light, and now the Associated Press has written a story targeting former Republican lawmakers and staffers who were hired in 2006 by the GSEs to help keep Congress off their back. I’m willing to hear the evidence from 2006, but remember that the damage was already done by this time.
How does a 4.5% mortgage sound to you?
December 4, 2008
As I walked through the living room just now, I heard talk of a 4.5 percent fixed rate mortgage on Fox News. Financial industry lobbyists are knocking on Hank Paulson’s door at the Treasury Department with a plan in hand to lower interest rates to help “stabilize” the housing market. Will everyone be able to refinance their mortgages at 4.5 percent?
Rahm Emanuel tied to Freddie Mac - nothing to see here
November 7, 2008
Just who is Obama’s new chief of staff? I’ve been a bit behind this week in reading due to other commitments, but this afternoon was when I first heard about Obama’s pick.
Guess who served on the board of Freddie Mac in 2000 and 2001?
Walter Williams writes - Lessons from the bailout
October 8, 2008
Williams has another good column out this week, and it quickly sums up - for those of you who missed it - how this economic crisis started back in 1977 with the Community Reinvestment Act. Walter’s point gets right to the root of the problem.
Even though McCain and Obama want to lay the blame squarely at the feet of greedy people on Wall Street, this was not the fault of the free market. It was government providing - instead of promoting - the general welfare.
McCain finally slams Obama on Freddie Mac, Fannie Mae
October 6, 2008
When you see this post, immediately send it to everyone in your e-mail list. I’m not a big McCain fan, but certainly you’re going to find me voting for the most conservative of the bunch - who is able to win - in four weeks.
Today in New Mexico, McCain brought up the fact that the GSEs failure is the root cause of the current economic situation. Some say he took the gloves off… finally.
