Revisionist History of the Recent Past

T

Timshel

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Here is Ron Paul in 2002...

http://www.house.gov/paul/congrec/congrec2002/cr071602.htm

Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges of Fannie, Freddie, and HLBB have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans.
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Here is Barney Frank in 2003...

http://query.nytimes.com/gst/fullpa...932A2575AC0A9659C8B63&sec=&spon=&pagewanted=2

'These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
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Maybe, Barney was fooled by the Chimp though. :)
 
RStringfield said:
Here is Ron Paul in 2002...

http://www.house.gov/paul/congrec/congrec2002/cr071602.htm



Here is Barney Frank in 2003...

http://query.nytimes.com/gst/fullpa...932A2575AC0A9659C8B63&sec=&spon=&pagewanted=2



Maybe, Barney was fooled by the Chimp though. :)
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To your point here is a great article by Paul Gigot at the WSJ and him calling out Fannie and Freddie back in 2003 and the verbal attack he received for doing so.

http://online.wsj.com/article/SB121677050160675397.html
 
TheSuperstringTheory said:
Here is Ron Paul in 2002...

http://www.house.gov/paul/congrec/congrec2002/cr071602.htm



Here is Barney Frank in 2003...

http://query.nytimes.com/gst/fullpa...932A2575AC0A9659C8B63&sec=&spon=&pagewanted=2



Maybe, Barney was fooled by the Chimp though. :)
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Bump...

Isn't it funny how Ron Paul has ALWAYS been right no matter how many rednecks, elitist punks and losers make fun of him or twist his words. I don't see any sign that he has ever WAIVERED from his stance though he did need to restate it and get rid of some of his dead weight. Hmmm...
 
Yes nothing changed. Ad the money changers in DC were successful at convincing idiot Americans that it was all the fault of the banktas and the po witty bitty congwessman was innocent.

Bush was all too happy to go along with Greenspans artificially ow interest rates because it helped prop up the economy. Bawney Fwank and Dodd were getting sweetheart deals from Countrywide so they didn't care if po coloreds got fucked. They knew they were firmly enslaved on the demalquedacrat plantation and would never believe anything bad about those demalquedacrats that just wanna help.

And the band played on
 
FactsRStubborn said:
Yes nothing changed. Ad the money changers in DC were successful at convincing idiot Americans that it was all the fault of the banktas and the po witty bitty congwessman was innocent.

Bush was all too happy to go along with Greenspans artificially ow interest rates because it helped prop up the economy. Bawney Fwank and Dodd were getting sweetheart deals from Countrywide so they didn't care if po coloreds got fucked. They knew they were firmly enslaved on the demalquedacrat plantation and would never believe anything bad about those demalquedacrats that just wanna help.

And the band played on
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What's your tune?

Certainly the reform passed by the Democrats was nonsense.

However, you are wrong, again. There was plenty of blame for the banks. They were in union with congress. They knew what the result would be, as well. You seem to forget or try to hide the fact that BUSH was pushing the ownership society. It was part of his idiotic plan to permanently destory the Democratic party by turning everyone into a property owner and taxpayer. Bang, Cheney shoots you in the face again.

David Stockman (the attempts to smear him are nothing but bs) is right. He is what he has always been an honest and brilliant man. The banks are too big and unwieldy. They can't be regulated and even WORSE they can not be managed.
 
Sir Digby Chicken Caesar said:
Yeah, but maybe that was just an elaborate scheme by Bush. He's sneaky, pulled off 9/11 and the Dems are all unfrozen caveman lawyers.
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What a genius....wiring the WTC and Build. 7 for destruction by stealth...and pulled it off while sitting in front of a bunch of future Dems. in a schoolroom.

Pure brilliance....even worked it so Cheney would get most of the blame....awesome.

IF YOU want the details, just PM desh...shes researched it for a decade .... even knows how Bush pulled off the Pentagon strike with a cruise missile, discuised as a
plane.....
 
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Apparently, according to you guys, what would have prevented the housing crisis is more government regulation.

Glad to see we've finally realized that.
 
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