Sunday, September 28, 2008

Dummocrats busted for their role with Fannie Mae and Freddie Mac. Both parties inept, incompetent, and criminal.


spooked said...

there are a couple of problems with this video, at minimum.
1) Democrats weren't in power in 2004, so what stopped the Republicans from passing anything?
2) Fannie Mae isn't really the major problem in this current financial crisis

Also, back in 2004, the housing bubble was not very large-- just starting-- and mortgages did seem safe.

Finally, I sense a lot of what was going on in this hearing was black Democrats sticking up for the black CEO of Fannie Mae-- they thought he was being picked on unnecessarily.

Da Weaz said...

I agree with your first point, but it does show the Democrats complicit in the fraud.

You're right, Fannie Mae isn't the culprit in THIS one, but is was in the previous $200 billion bailout.

Yes, some of it does seem like black Congresspeople defending a black CEO, but please explain to me whether that is a justified excuse or proof of how stupid the people actually were.

Personally speaking, I think the latter.