Friday, October 03, 2008

Bill Clinton Accuses Democrats of Blocking Financial Regulation

“I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac." So spoke Bill Clinton about Democrat resistance to effective financial regulation of Fannie Mae and Freddie Mac, even as Democrats and the main stream media continue falsely accusing John McCain and Republicans of causing the problem through deregulation.

Democrat senators Chris Dodd, John Kerry, and Barack Obama were the top three recipients of Fannie/Freddie campaign contributions, and Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s benefited Frank’s partner, Herb Moses, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

When even Bill Clinton blames Democrats for the problem, why can’t the main stream news media recognize the truth?

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