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More details on how Democrats protected Fannie and Freddie from needed oversight
(Note: this was drafted on Friday, just before I heard the depressing news about the bailout overwhelmingly passing the House and being signed into law by the President.)
Dominic Lawson in Britain’s left-wing Independent surprisingly holds the Democrats to account for their role in the finance fiasco and for their amazing chutzpah now in blaming the Republicans. He goes into detail on how the administration and the Republicans in Congress tried in the early to mid ’00s to rein in Fannie and Freddie, which were financing half the subprime loans, and how the Democrats, led by Barney Frank and Christopher Dodd, stopped any such attempt. Email entry |