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McCain blasts Obama, Democrats for Fannie Mae meltdown
hotair.com — We asked John McCain to take off the gloves — and he listened. In remarks McCain will deliver today, he blasts Democrats, including Barack Obama, for their market manipulations and defense of Fannie Mae against regulator warnings. He accuses all of them of encouraging corruption...
vick3ii- 88 diggs
- digg it
- diggFunction, on 10/06/2008, -0/+16Finally
- zacharytelschow, on 10/06/2008, -0/+17Amen. Its about time Republican leaders call out Democrats for their (primary) role in this entire fiasco instead of letting the Democrats falsely crow about how this was brought on by the Republicans and deregulation (the exact opposite of the truth).
- TruthinessHurts, on 10/06/2008, -5/+0Of course he blames the Dems!
What's he going to do, point out that his advisor Phil Gramm is the author of the Gramm-Leach-Bliley act which removed oversight and regulation and created the conditions necessary for the greed of the financial industry to bring us into this crisis?
No, it's easier for the Republicans to avoid all mention of their part in this and try to blame it on the black people helped by the Community Reinvestment Act, which forced banks to stop discriminating against qualified minorities. It didn't force banks to give subprime mortgages across the nation.
Eh, why let the truth get in the way of the GOP noise machine, right?- zacharytelschow, on 10/07/2008, -0/+1"...try to blame it on the black people helped by the Community Reinvestment Act, which forced banks to stop discriminating against qualified minorities."
The Community Reinvestment Act went far past stopping discrimination against minorities; it required banks to lend to minorities who weren't qualifiied. One sixth of all mortgages to whites are subprime while HALF of all mortgages to minorities are subprime. There's a reason for that, and it isn't Wall Street greed; its Congressional law. Banks don't make bad loans of their own accord, its bad for business.
- zacharytelschow, on 10/07/2008, -0/+1"...try to blame it on the black people helped by the Community Reinvestment Act, which forced banks to stop discriminating against qualified minorities."
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