The Financial Crisis


	The Financial Crisis

mklosinski

9-30-2008 6:48 AM

222 views

tags:

financial crisis, congress, freddie mac, mortgages

mklosinski says:

And how many politicians have we heard say that this Financial Crisis is Bush's fault. If you repeat a lie often enough, people will begin to believe it.
Leave no incumbent in office.

1 Comment |

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9-30-2008 9:58 PM

tommy2balmy

Leave no incumbent in office.

Good idea. But if you vote in the opposing demorepublicratan you only extend the problem. Better still vote for a non-demorepublicratan. There are plenty of people running who belong to neither party.
http://www.votesmart.org/index.htm

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3e5b11ac-947c-4d2b-a276-a2e8e5a5a89a/CEC02B06-3604-4EDB-B1A9-31FD61BF7E6D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics" href="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics" style="font-size: 11px;">townhall.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics"><P>
	Nothing could more painfully demonstrate what is wrong with Congress than the current financial crisis. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics"><P>	Five years ago, Barney Frank vouched for the "soundness" of Fannie Mae and Freddie Mac, and said "I do not see" any "possibility of serious financial losses to the treasury."
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics"><P>	Earlier this year, Senator Christopher Dodd praised Fannie Mae and Freddie Mac for "riding to the rescue" when other financial institutions were cutting back on mortgage loans. He too said that they "need to do more" to help subprime borrowers get better loans.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics"><P>	In reality, President Bush tried unsuccessfully, years ago, to get Congress to create some regulatory agency to oversee Fannie Mae and Freddie Mac. 
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</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://townhall.com/columnists/ThomasSowell/2008/09/30/bailout_politics?page=2">Phasing out Fannie Mae and Freddie Mac would make much more sense</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CEC02B06-3604-4EDB-B1A9-31FD61BF7E6D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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