Thursday, September 25, 2008

Congressional villains

FOX News segment that aired yesterday on the Fannie Mae / Freddie Mac implosion that is a key contributor to the mess we're in:

We probably won't see this kind of reporting on the Obama channels -- NBC, CNN, et. al., because it shows the Bush Administration in 2001 and again in 2003, Fed Chairman Alan Greenspan in 2005 and John McCain in early 2006 raising red flags about Fannie and Freddie and the risk those government sponsored entities (GSEs) posed to the financial system. The Democrats in Congress were the ones who blocked attempts to gain oversight or set limits on those government sponsored entities, despite their earlier accounting troubles.

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