Fannie Mae & Freddie Mac weren’t under-regulated, they were unregulated. This is incredible considering our government provided more protection for them than any other financial institutions. As has been said before. Fannie & Freddie were an instrumented crisis. They were created to fail. It’s actually surprising that Dems got those programs legislated that way. Yes they had the majority when they pushed the legislations through, but many Republican’s representatives were admittedly “asleep at the wheel” and part of the problem by not fully understanding the fine print.

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It’s about time! Good for the McCain campaign. Now, KEEP IT GOING!

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I missed that “victims” reference in regard to Fannie Mae and Freddie Mac.

Typical Dem-Speak that should have alerted me to the underlying motivation of Rot’s comment.

Readers will notice how the rhetorical ground has shifted here. It used to be that Dems all proclaimed there was NO PROBLEM at Fannie Mae and Freddie Mac “fix something that wasn’t broke”:

http://www.youtube.com/watch?v=MbiQwp1Tuac

NOW, Dems have tossed that argument under the bus and are claiming that the collapse of Fannie and Freddie, which were looted by Dem hack politicians who used the government guaranteed company as a personal cash machine, had nothing to do with the financial markets crisis.

That’s such an absurd statement on so many levels.

The collapse of Fannie and Freddie is directly tied to the weakness in so many banks.

It’s not the only cause of the financial crisis but it is at the root of the problem.

Any attempt to shift the focus away from Fannie and Freddie is nothing less than an effort to shield Democrats have responsibility for the collapse and stave off congressional investigations and criminal prosecutions.

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Rottimer: “That would be a great ad if the current crisis was really caused by Fannie Mae and Freddie Mac. Unfortunately, both were victims of an under-regulated banking industry, so the ad actually borders on misinformation.”

Umm…Bush and McCain tried to put new controls (that’s “regulations” for your public school types), but were filibustered and could not get the bills to the floor.

Fannie and Freddie were VICTIMS? That borders on insanity!

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Rottimer: “That would be a great ad if the current crisis was really caused by Fannie Mae and Freddie Mac. Unfortunately, both were victims of an under-regulated banking industry, so the ad actually borders on misinformation.”

Read the CRA and tell me the banking industry is “under-regulated” (unless you mean Fannie & Freddie), otherwise Rottimer’s post borders on insanity.

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Of course, Bubba really kicked into high gear with his revised CRA Ratings rules in 1994/95 and his revised HUD rules (Cuomo) in 1997.

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That would be a great ad if the current crisis was really caused by Fannie Mae and Freddie Mac. Unfortunately, both were victims of an under-regulated banking industry, so the ad actually borders on misinformation.

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John McCain On Next Steps Following Bailout Bill Failure:
http://www.foxnews.com/video2/video08.html?maven_referralObject=3119774&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/

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It’s about time the Republicans goes public with that. Don’t know why it took them so long.

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@Richard: that rumor has been going around for like a month or so, will believe it when i see it. i am really wondering about bill clinton, he seems to be changing his strips, i am glad he is seeing thinks more clearly, but i tend to wonder why.

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