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I'm no republican but dems were pretty much saying the same thing

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The Record: Who Tried to Stop the Housing Market Failure that Is Now Ruining Our Economy? Senator McCain

Democrats Lied, the Economy Died

This is what Congresswoman and Speaker of the House Nancy Pelosi doesn’t want you to see (none of her people will ever pay attention to it, that’s for certain):
Congressional Record; May 25, 2006
FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005
The United States Senate
May 25, 2006
Section 16

Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.
The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.

The Preceding were the Words of Senator John McCain
Democrats blocked this bill before it could come to a vote.

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vonhumboldt said:

Hannity said the economy was in great shape and his guest's ideas were just gloom and doom.

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Prisoner#1 said:

vonhumboldt said:

Hannity said the economy was in great shape and his guest's ideas were just gloom and doom.

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Barney Frank said on 7/14/08 that Fannie and Freddie were
fundamentally sound, that they were in no danger of going
under, he's the Chair of the House Financial Services
Committee so of course he's certainly in the know unlike hanity

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EntheogenicPeace said:

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...but they do invite a wide variety of guests to offer opposing view points.

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No, they do not. Unless you can show me who the last progressive, anti-imperialist voice that they had on the air was, then they do not offer seriously opposing viewpoints. Who was the last guest they had on who opposes the U.S. occupation of not only Iraq, but Afghanistan as well, & who opposes the entire underlying basis of U.S. militarism?

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One simple example: Let's assume for a minute that 'Plan Colombia' is really about fighting drugs (which is, of course, laughable). If the U.S. is justified in conducting fumigations (& all the negative health & environmental consequences that come along with it) to eradicate coca, which is processed & refined into a products that kills maybe into the ten of thousands around the world annually, would the Chinese government be justified in conducting a 'Plan America' (again, with all the negative health & environmental consequences that inevitably come along with it) in the American South to on the basis of trying to eradicate a crop that is processed into a substance that kills millions around the world?

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