During the hearings on regulating Fannie Mae and Freddie Mac Democrats heavily defended these two government backed institutions effectively blocking any chance of reform. Listen to the video then and listen to the Democrats now. Barney Frank (D- Denial) and Maxine Waters (D-Blame) will be the first to tell you that the economic meltdown was the fault of President Bush and ‘his’ lack of regulation over Fannie Mae and Freddie Mac.
President Bush warned the house finance committee of the need to regulate Fannie & Freddie from 2001 until the meltdown. Now the guilty parties can absolve themselves of all blame thanks to the Democrat friendly lame stream media.
President Bush gets all the blame even though the Democrats largely ignored him on this issue. When the Democrats took over the congress in 2006 energy prices skyrocketed. Again President Bush gets the blame. There is a consistent pattern here of the Democrats denying factual history and lame stream media passing on their false claim and denials as fact.
Thanks to a media ‘lies’ and voter short-term memory President Bush gets the blame for the outcome he consistently warned the house finance committee of practically from day one of his administration.
House Rep Baker (R-Reality) lays out the problem and what the impact on the economy will be. Other Republican Reps lay out the illegal practices and paybacks. All of which the Democrats defend and deny.
To his credit Congressman Johnson admitted that the house democrats were wrong to block the reforms requested by President Bush. Frank, Waters and Meeks continue to deny any responsibility and blame all on President Bush.
This video offers the ‘facts’ that the MSM will never let the public see. Socialists will always deny history. History proves socialism has never worked. Not ever, not even once.