Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown
The Bush Admin and Senator McCain warned repeatedly about Fanny Mae and Freddy Mac and what thus became the 2008 financial crisis — starting in 2002 (and actually even earlier — in the Clinton and Carter White Houses. Democrats resisted and kept to their party line, extending loans to people who couldn’t afford them — just like you would expect of socialists. See our web site for more. — www.ProudToBeCanadian.ca http — www.proudtobecanadian.ca
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Think maybe if the slanted MSM had picked up this story, we’d be in less of a mess now?
And somehow all the Demotards still blame Bush for our economy and not themselves!!!! Must be a bunch of potheads since they have no short term memory and live in a fictions world where they do no wrong.
The loans that were made by banks and lenders were GUARANTEED by Freddie and Fannie. That was the problem. And most donations from Freddie and Fannie went to ACORN! Crony pseudo corporations are evil.
Just read the article in the New York Times (September 30, 1999) which proves the real revisionists want us to forget how Clinton, the Dems, ACORN, Barney/Dodd are at fault for the recession.
Fox and Shrub putting the cart before the horse.The housing markets went south first taking Fannie and Freddie with them.
Alan Greenspan?The guy who said “markets always get it right”?Yeah sure if you overlook that little thing called the Great Depression caused by unregulated market capitalism.Maybe he should have been looking to Wall Street when he opened his mouth about Fannie and Freddie.
The federal government doesn’t bail them out? Then why are the taxpayers on the hook for all this bull****?
November can turn this Communist/Socialist regime out! Vote GOP and Conservative. It will stop this crisis and destruction of America!
@MattyJames25 Nice try matty, research the CRA u brainwashed fool, carter, clinton expanded, well before bush… CHANGED THE LAW, allowing banker greed to even come into play. WITHOUT the DNC changing the law, brokers & bankers would not have been allowed to push through the bad loans. NOW go back to your “journalists” at NBC, CBS, ABC, PBS & NPR. You fell for the blanket propaganda campaign; the attempted discrediting of THE 1 NETWORK, FNC, that doesn’t always tow the DNC line! UR a sad fool.
@islandmuffin Is this part of the recent Fin. “reform” bill passed by the senate last friday?? You got to be kidding me?? I am a woman, while I am Labeled a minority, I don’t feel like one, and don’t want ANYTHING special b/c of my race!
I have worked hard my entire life to be where am at! Bought many homes in the past, due to my Good Job and Credit…..Being responsible pays off!
The Media has managed to brain washed the American people that it was Bush’s fault. The Bias Media and Democrats Propaganda worked in 2008, the question is, will it work again in 2010??? I hope NOT! We need to take the Country in the oppositve direction from the Demo rats!
Just keep this up, it speaks for itself. Nothing revisionist about it. It just lays the facts out there. Well done!
Freddie and Fannie giving mortgages out like candy caused the crash. Once people had to decide between buying gas at 4.00 a gallon or paying their bills, they stopped paying their mortgage payments in droves. Then the possibility of socialist/capitalism hating president coming to power promising to bring an end to America’s greatness (apology tour) through the corruption of ACORN put our economy in the downward spiral and jobless mess we have now. That’s history, pure and simple.
The GOP controlled congress from 1994-2007. There’s no way Barney Frank could have done much since he wasn’t even the Chair of any committees because only the controlling party runs those committees.
MattyJames25 -’Revisionist bullshit.’-
Sure is !
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75% of loans were fraudulent from the Banks and lenders ! – Google FBI+Subprime+fraud
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During the Clinton Admin., in 2000, because of a -’re-assessment of the housing market’- by HUD, “anti-predatory lending rules were put into place” that “disallowed risky, high-cost loans” from being credited toward affordable housing goals.
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“Warned”??? By the time these people were “warning” about this it was an inevitable. Whoever inherited the economy after Bush would have been faced with the same crappy set of hands. These people were just starting the spin early to try and rest the blame, as well as the responsibility, on whoever came into office next. Revisionist BS is right.
Why isn’t Barney Frank at home mowing the grass and out of our decision making arenas? Frank, Schumar, and Chris Dodd among others knew that this was coming yet they lied to all of us. Chairman of the House Financial Services and he tells us “exaggerated threat”? Everyone in banking knew this was coming but the Feds MADE them make these loans….now our grandchildren will pay and pay and pay…..
Sweep all of them out this November !!!!!!!
The Canadians see us.
@MattyJames25 he hasn’t saved anything, unemployment is up, GM sales are worse, stock market is worse, cash for clunkers has cost us a fortune, and we’re now 3 times deeper in debt.
I doubt my generation will be waving Obama flags when we’re paying off all this borrowing 40 years from now.
@MattyJames25 Bullshit. Lets pretend that the community reinvestment act played no role in this what so ever. lol Its pathetic Bush spending is terrible Obama triple spending is great lmao
Have you ever lived in a communist country?
Ah, Barney Frank! Yes every village needs an idiot, and the Dem’s have theirs…and then some!
Barney Frank is not human
@Rueuhy Our country has been on “auto pilot” for far to long and the masses have grown accustomed to it. The masses just want things to work well and without duress to them and as long as the government and/or Wall St. provide that all else is irrelevant. This is completely contradictory to the notion “Of the People, Bye the People and For the People” and now “the People” have reaped what they have sewn for themselves. Everyone wants someone to blame as long as it isn’t themselves. Shame on us
I agree 100% with ProudToBeCanadian’s efforts to show us the truth. The bigger problem is how unaware people CHOOSE to be. People have become afraid to demand more truth with substance and have become docile and remain silent as long as they keep getting government perks and politicians keep feeding them the lies that are easier to swallow. This is what our forefather’s (United States) warned us about and we have become too comfortable and have forgotten the feeling of another’s rule over us.
How come there is people voting this down when the proof is in the video?
Is it just me or does Barney Frank remind you of Elmer Fudd? HUHUHUHUH?
Why do you want the rabbit?
Socialise profit
Nice edit.