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
and obama and the progressives continue to blame bush for everything when it was obvious bush tried to fix fannie and freddie but was stopped repeatedly by the democratic run congress. what is wrong with mass. and new york to keep reelecting traitors like barney frank, and shummer?
@Patricia9120
Ignorance like your is special. I applaud your effort to remain a tool of the dims.
Typical fox news cherry-picking only the facts that fit your argument: lots of people in both parties are to blame for the financial crisis, Fox seems to be arguing here that the whole thing was caused by not regulating Freddie & Fannie, ignoring larger cause of deregulated financial industry, which they & GOP pushed for. Anyone who falls for this has no working memory of recent history.
@Jetlag28 Thanks for the plain explanation. Hopefully, even a liberal will figure it out.
@ countjimbo
Yes! There are those with the same conclusion as yourself about this country’s news media. All the ones I know that have that conclusion are close minded.
It’s a good thing that your opinion has no value here.
Yes! Reduced regulations for Companies that do not rely on government to back their risk. But more regulations for companies and banks who have federal backing, due to the burden to bail them out would fall on the ones who pay taxes like me! Not 2 hard to understand.
Thank you for that short segment. Left is in denial. Good observation.
Snow was fired for pushing too hard on the issue of Fannie/Freddie!
@usagill
Well, I guess all the big bankers should be in jail with that line of thought. You can throw Bush in there too for an illegal war. Ask youself why no bankers went to jail for massive mortgage fraud. The rating agencies for bogus ratings on bad mortgages. Credit default swaps that were not covered by enough capital. Banks being over leveraged 50 to 1. How about investment bankers using deposits for risky trading. I could go on and on. People need to get educated.
@PeganCove
Why? Why didn’t Bush warn about sub-prime mortgages or credit default swaps. Fannie and Freddie had nothing to do with sub-prime loans. The CRA had nothing to do with sub–prime mortgages either. Zero interest mortgages and ARMs had nothing to do with Fannie or Freddie as well. You also forgot to mention Bush taking credit for record home ownership. Debt bubbles are created to prop up slow growth. Without the housing bubble no jobs would have been created under Bush. Right or Wrong
So a Canadian who has gone about supporting people that will destroy your own nation is taking a stance to support those who are dismantling our own.
Interesting.
So can all the Einstein’s here tell me why republicans arent for regulation right now?
@fahs I`m curious, what was your occupation? Also, sorry to hear about that.
Let freedom ring! 2012 will sweep away the corrupt Chicago corrupt regime and bring back liberty!
@CountJimbo If you were talking about the main stream media I would agree with you! Since my parents and other family came to the US, we are continuously correct the rest of the family back over across the pond because of the misinformation they are getting by most of the main stream media in the US! But that’s what happens when the media becomes a cheerleader for the President and not a watchdog! You can have Prez Obummer, Frank, Schumer, and Dodd when the US is done with them in 2012!
@CountJimbo Like anybody in the U.S. gives a shit what you or europe think. You have no idea what is really going on here and your drunken rambling statement shows that. Most media here has a very liberal bias and it’s fox news that they are scared of because they tell what is really happening. Most of the libs won’t even go on Fox because they know they will be asked the tough questions and that’s the last thing they want. Now go back to drinking your guiness and slobbering on yourself.
@PeganCove
lol. Barney Frank, the ‘Banking Queen’. What a disease.
Barney Frank should be in jail, but the problem is he’d love it there!
His favorite Cape Cod sign = “Entering Dennis”.
I normally dont comment but having read this- u know that the rest of us in Europe openly laugh at your media. Ive heard better “news” coming out of countries lead by dictatorships!. Fox news is a propaganda tool. I find it incredible that an obvious universal truth like that in Europe is actually not understood by so many Americans. But then again I know that facts and universal world hatred are not things which bother those Americans which are politically uneducated
Barney Frank should be in jail along with all the other Dems who created this scam. Lockem up now
Dems gave us the Barney/Frank bill??? The Chicago thug and ACORN/Rules for Radicals type move to shove the socialist takeover down our throats, obviously. And Obama continues the destruction of the USA… Time to vote in a real American in 2012! We’re looking for ABO!
@AssHatSockPuppet Actually some people are just stupid. Look at the video, it’s making the point that Bush warned a Republican controlled Senate and Republican controlled House, that had been under Republican controlled for years before and years after, of impending doom. But it’s the Democrats who didn’t do anything about it. Some people have their heads so far up their own butts they are looking out their own mouths.
@scepticsteve There’s no way loan to poor unqualified borrowers were the sole cause for the crisis. The real meltdown was the unregulated, unprincipled double-dealing using credit default swaps and other esoteric financial instruments that nobody understands and were branded as investment grade.
@NINJ4JU4N This is hardly misleading. The Banks wouldn’t have ever created perverse incentive to make unsafe loans that they KNEW would not be repaid: 1 because that is bad business. 2 Because they had to give the loans, or they would have had to go to court for being: racist, sexist, or some other government regulated social issue. Some people were just meant to rent.
These scum have totally brought America to its knee’s!!!
America has become the most hated nation on earth.
Next for Americans is, Total monetary collapse. The dollar is in decline and no longer looked upon as the currency to trade in. The rest of the world is fed up of the US screwing them and are looking to set up their own collective currency to trade in oil and other commodities.
When this happens, America will collapse under the colossal amount of debt it has accumulated.