Oct 08 2008
A must see moment when a GOP Congressman calls on the Democrat Congress to fix the financial mess and the Democrats balk (knowing full well they share a majority of the blame). Â Shays states boldly the only reason there are no hearings on Fannie Mae and Freddie Mac is the problem that started this all is a CongressionalÂ mistake Congress won’t face up to. He then goes on to lists (endlessly) the hearings that should be reviewed as to why action was never taken to avoid this meltdown.
Here some items I learned:
- Did America know Fannie Mae and Freddie Mac (FM-FM) had less reporting requirements than any other normal company? I sure as didn’t.
- Did you know FM-FM basically bought off opposing lobbyists to halt any challenges against their views? Â I sure didn’t!Â
Watch the whole thing. H/T Reader “ExposeFannieNFreddieNow” (sounds like a political operative – good thing they had some solid information and simply used the congressional record or I might have ignored the point).