Check out Amy over at A-Team with her reaction on last night's debate and insight into who, at the least, shares the blame for the financial problems with the banks and mortgage institutions closing. Sorry, Bush haters, it is not just Bush. It could be also the Democrat-controlled Congress. Read on. Or click here for the full post. D.B.
I'm very frustrated by McCain's lack of response to Obama's charge that "Republican policies" of deregulation are responsible for the current financial crisis. I know that many of you disagree with McCain and are against Republican policies in general, but I do ask that in the interest of intellectual honesty and clarity, you all take a few minutes to review some facts so you can argue fairly for your position.
From the New York Times, September 11, 2003:
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago....
Among the groups denouncing the proposal today were the...Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
''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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