Waters made that clueless comment during a hearing in 2004 and yes, that's the same Frank Raines who cooked the books so that he could receive huge bonuses and who is an advisor to the Obama campaign. Here's a video of the Democrats praising Freddie and Fannie and claiming there's nothing wrong and the Republicans calling for more regulations:
It's clear that the Republicans wanted oversight but the Democrats did not. Why in the world would we want the Democrats involved in cleaning up the mess that they created? Why should we trust anything they do now? They looked the other way when the irregularities were uncovered and blocked legislation that would have given the government more oversight of Freddie and Fannie and now we have to pay billions of dollars to fix their mess! And yet Franks and Waters will be re-elected yet again because their constituents are clueless to the mess they've made of our economy.
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What problem did Fannie Mae have in 2004?
The company was doing well. Check the stock prices.
Where is that proof that Raine cooked the books?
There was none during the investigation
Fannie Mae had very little involvement the sub prime lending prior,
Raines leaving Fannie mae in 2005.
Mr Unite Us- You've got to be kidding, correct? The stock price was fine equals no problems? Thats the extent of your analysis? Nice. And by the way, the Clinton administration pressured Fannie and Freddie to toward sub-prime in 1999, search NY Times website and you'll find it.
"The company was doing well. Check the stock prices."
Wow!! Mr Unite Us, that is the very same level of cognitive reasoning skills that has gotten us in this fix in the first place.
Now that the election is over, it is not too late to put enough pressure on Barney Frank and Maxine Waters to lose their jobs in Congress. BARNEY FRANK AND MAXINE WATERS HAVE cost this country bilion of dollars and thousnads of jobs. WHY aren't people callinf for them to resign. PLEASE AMERICA..WAKE UP!!!!!!!!!!!!!!!!!!!!!!!!
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