Wednesday, February 25, 2009

Democrats Fought Financial Regulatory Reform in 2004

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac that are now destroying our economy.

Pelosi's President Obama layed out broad principles for regulatory reform legislation today they plan with Congress to on in the coming weeks leading up to the G20 (summit in London in April.

President is claiming he expects Congress to pass strong financial sector regulation ato prevent future crises and restore "accountability, transparency and trust in our financial markets."

That would be a new thing. Why did they not try it in 2004? Did they want the economy to fail so they could "save" it? Why, in 2007 in the First 100 Hours of Pelosi, did they pass a "supplimentary budget." Did they really not know that this would cause a credit crisis at the end of 2007? If the Federal government is borrowing $700+ billion, is there any reason they should not know it would be competing with the Housing Market?

Regardless of whether you believe they made a budget crisis bomb, you have to see that their own remarks in 2004 show how hypocritical it is to blame Republicans for a crisis the Democrats refused to addresss in 2004.

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