Hey Hollywood, It takes a quorom in the House and a 2/3's majority in the Senate to get a Bill passed. So, no, it was not that the Republicans who were incompetent or in collusion, as the short video demonstrates, just the opposite was happening.
The other day, Gaar mentioned that now was not the time to point fingers. I have come to the conclusion that it is the time to point fingers, and I respectfully disagree with Gaar. If now is not the time to "point fingers", when is? The fact is, we, the people of America have been sold a bill of goods by the Democrats, and I think that the Democrat Party needs to be exposed for the frauds that they are. Of course, they deny it, as they deny their whole agenda, when confronted. There is no American, (including you!) that can look at the facts objectively, and come to any other conclusion, that the Democrats in this Nation attempted to give free housing to those that could not afford it, and pad their pockets in the process. Don't get me wrong, there are some Republicans that are caught up in this mix, and I want their ass hung out on a sling too! In truth and fact, (as the video depicted) the Republicans have been calling for Fannie Mae and Freddie Mac reform for at least four years, and more like ten years! If I find fault with the Republicans, it was that they were not yelling and screaming how bad our Nation's financial situation was, loud enough! The Republicans should be faulted for not raising the alarm bells long ago, and informing the American people. What I find despicable, is the likes of Barney Frank and Chris Dodd now acting as if they did nothing wrong, and are trying to lie their way out of it. These are truly the ones that are playing Partisan politics! Here is the statement that Congressman Davis released to Sean Hannity yesterday: "Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong. By the way, I wish my Republican colleagues would admit that they missed the early warning signs, that Wall Street deregulation was overheating the securities market and promoting dangerously lax lending practices. When it comes to the debacle in our capital markets, there is much blame to go around for both sides." http://www.foxnews.com/story/0,2933,431209,00.html Bill Cliinton said on September 26, 2008: "I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac." http://hosted.ap.org/dynamic/stories/M/MELTDOWN_ADS?SITE=DCUSN&SECTION=POLITICS&TEMPLATE=DEFAULT Although not "perfect", Congressman Davis's statement still acknowledges my point, and should make every American stand up and take note! Congressman Davis's statement goes on, in a partisan attempt to blame Republicans for not tightening the regulatory scheme, when in fact, it was the Clinton Administration and Robert Rubin who was pushing for the deregulation. Former Goldman Sachs partner Robert Rubin, who was President Clinton's Treasury Secretary. In a 1995 speech and testimony to Congress, Rubin advocated the Bill, and professed the Clinton Administration's intent to repeal the Glass-Steagall Act: "The banking industry is fundamentally different from what it was two decades ago, let alone in 1933….[T]he industry has been transformed into a global business of facilitating capital formation through diverse new products, services and markets. U.S. banks generally engage in a broader range of securities activities abroad than is permitted domestically… Even domestically, the separation of investment banking and commercial banking envisioned by Glass-Steagall has eroded significantly." * http://www.theminorityreportblog.com/story/pilgrim/2008/09/19/the_players_in_paving_the_way_to_the_wall_st_meltdown<mhtml:{F13FC907-ED16-4625-B99F-FC7402DA3B1C}mid://00000154/!x-usc:http://www.theminorityreportblog.com/story/pilgrim/2008/09/19/the_players_in_paving_the_way_to_the_wall_st_meltdown> * * * By the mid 1990s, the Clinton Administration had in fact adopted a "quota system" , and unabashedly favored expansion of, and the empowered use of the "Community Reinvestment Act", believing that a governmental response to economic problems in inner cities is generally more effective than a market solution. Eugene Ludwig, President Clinton's Comptroller of the Currency and head of the Office of the Comptroller and Currency, was a strong proponent of expanding the reach of Community Reinvestment Act. He said in his confirmation hearing that his first priority as Comptroller would be to eliminate "discrimination from our financial system, root and branch." He told bankers that "If you seize this issue as an opportunity, you will reap the benefits in the form of new business and heightened respect from the press, the Congress, and your communities." (*See* the CATO Institute, a non-partisan Libertarian Think-Tank, link provided below) With regard to the Community Reinvestment Act, Attorney General Janet Reno said, "No loan is exempt, no bank is immune. For those who thumb their nose at us, I promise vigorous enforcement." * http://209.85.165.104/search?q=cache:90IT4MK9474J:www.cato.org/pubs/regulation/regv17n4/vmck4-94.pdf+Community+Reinvestment+Act&hl=en&ct=clnk&cd=4&gl=us *<mhtml:{F13FC907-ED16-4625-B99F-FC7402DA3B1C}mid://00000154/!x-usc:http://209.85.165.104/search?q=cache:90IT4MK9474J:www.cato.org/pubs/regulation/regv17n4/vmck4-94.pdf+Community+Reinvestment+Act&hl=en&ct=clnk&cd=4&gl=us> On Oct 1, 11:29 am, Hollywood <[EMAIL PROTECTED]> wrote: > keith, > > Yes I did, how else would I have known it was made in late 2004? > > On Sep 30, 11:46 pm, KeithInTampa <[EMAIL PROTECTED]> wrote: > > > > > Hollywood, > > > How is there an argument here? > > > You obviously did not watch the video. On top of that, Congressman > > Arthur Davis From Alabama released a statement to Sean Hannity > > tonight, in response to this video, and admitted that the Democrats > > were wrong and misplaced on their approach to Freddie Mac and Fannie > > Mae. The statement is not appearing on the FOX News web site yet. > > --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
