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The plain and simple FACT is that private lenders led the charge into the subprime market, and Fannie and Freddie followed suit later to restore their eroding share of the mortgage market. Democratic involvement that you have documented in your post is true as far as it goes, but frankly all of that was tangential and minor. The true and proximate cause of the mess we are in today are the ill-conceived and ill-executed strategies in Iraq and Afghanistan, and Senator Gramm's legislation as passed by a Republican Congress and lax Federal oversight of the subprime markets by the Executive branch of the U.S. government under a Republican President. No matter how much you bob and weave and trot out various red herrings and try to use smokescreens to divert folks from reality, the fact of the matter is that the fingerprints of this disaster are upon a Republican former President and various former Republican-controlled Congresses.




Bwwwwwwaaaaahahahaha!

Holy shit are you a MORON! Fannie Mae and Freddie Mac do not compete with private lenders and do not originate loans. They take loans off of the hands of private lenders to free up capital so the lenders can make more loans. Dems lowered standards so they would back almost any worthless loan with taxpayers money. They stupidly thought it was only fair that people with no money and bad credit be able to own homes. Didn't work - lol. And, again, it was Enron x 10,000.

You have no clue what you're talking about. Stop trying to pretend. Busted.


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