History Of The Last Eight Years

If Only We’d Paid Attention

Some, like The Anchoress, did, and took notes.

Wait – doesn’t this same newspaper show President Bush warning Congress in 2003 that Fannie and Freddie needed some overhauling to prevent a crisis when the housing bubble burst? Didn’t the Bush Administration ask for action numerous times?

Seems they did. What was the response of the spineless GOP and feckless Democrats? Oh yes….now I remember:

Wait. What did those congressional leaders say again? I have it on the tip of my tongue… Oh yeah.

“Fannie and Freddie are fundamentally sound.”

“They are not in danger of going under….We’re doing three separate things that make it much less likely — very, very unlikely — that we’ll have this kind of a housing crisis six months or a year from now.”

“Looking at the financials, they’re solid.”
— Banking Committee Chairman Barney Frank, (D, Massachusetts) July 14, 2008

Thank you, teacher! Most definitely, The Anchoress has written a RTWT post.

Explore posts in the same categories: domestic, Economics, politics

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