Rep. Maxine Waters (D., Calif.), speaking to Housing and Urban Development Secretary Mel Martinez:
Secretary Martinez, if it ain't broke, why do you want to fix it? Have the GSEs [government-sponsored enterprises] ever missed their housing goals?
House Financial Services Committee hearing, Sept. 25, 2003:
Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .
House Financial Services Committee hearing, Sept. 25, 2003:
Rep. Gregory Meeks, (D., N.Y.): . . . I am just pissed off at Ofheo [Office of Federal Housing Enterprise Oversight] because if it wasn't for you I don't think that we would be here in the first place. And Freddie Mac, who on its own, you know, came out front and indicated it is wrong, and now the problem that we have and that we are faced with is maybe some individuals who wanted to do away with GSEs in the first place, you have given them an excuse to try to have this forum so that we can talk about it and maybe change the direction and the mission of what the GSEs had, which they have done a tremendous job. . .
Read more wonderful quotes from those that brought us financial crisis
2 comments:
VH - got a question for ya since you bring this up. Every conservative to libertarian blogger out there (including myself) has been putting out all these proven instances of how the Dems caused this economic mess - why is it do you think the McCain/Palin ticket are trying to sabotage their own campaign every time this issue comes up?
So far - in both debates - when the economy was brought up and the mortage lending issue was the topic - both McCain and Palin essentially agreed with Obama and Biden when they blamed the problem on "the last 8 years of the failed Bush policies" - neither one of them even brought up the CRA of 1977, Clinton's revision of 1995, nor the collapes of Fannie/Freddie and the Dem's stonewalling tactics - specifically Dodds and Frank?
The both threw wallstreet and the mortgage lenders under the bus. Why do you think it is neither one of them will point out the truth to the people who aren't as in tune as we are?
To those non-political junkies who don't read blogs or listen to radio talk shows - by McCain and Palin sidestepping that issue - and with Obama painting their campaign as McSame - this just hurts them.
I don't get it!! BTW - linked back to this one.
Bobo--my sense is that McCain/Palin want to toe a populist line because it's simple, concise and emotional. You are right, they could have taken a different tact and attacked Democrats like Dodd, Frank, Schumer, and many in the liberal elite that have their hands dirty in all of this. It is all a complicated mess and most people, commentators, and even media want easy answers without getting into details. Look at what some of on the left blame for all of this--deregulation. It's their mantra, it's simple, and easy to explain. Thanks for the link:)
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