http://www.bloomberg.com/apps/news?p...d=aSKSoiNbnQY0

Now, for those of you who believe this was caused by McCain's deregulation.

Prove it.

The fiasco was caused by Fannie Mae and Freddie Mac and the democrats are to blame. They need to own up.

Opinion piece by this guy:

I think he's covering his own ass. And that's my opinion.

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"Conservatives" believe it is okay to kill innocent men, women and children, but not a zygote.

Yeah, most of those people involved were democrats. I gotta handed to you. You got a point.

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May the force be with you!

I think you are full of it. The records are clear. The causes of the problem are clear.

The democrats were responsible for this mess.

To use your words: prove it.

1) Fannie Mae and Freddie Mac enabled the mortage fiasco by buying billions in bad loans. Banks made the loans, then turned them over to Fannie Mae and Freddie Mac for a profit. They did this under the assumption they were backed by the govt.

2) It was obvious what risk this posed to tax payers, the republicans pushed for reform. The democrats opposed this.

The democrats need to own up, and stop screwing us all.

So prove it.

Here, read up

http://useconomy.about.com/od/grossd...gages_FNMA.htm

Please point out in your link how the Democrats caused this problem.

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"If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer."

--President-elect Barack Obama
November 5, 2008

Republicans wrote the legislation allowing lenders to write the bad loans.

The role of Freddie and Fannie is to buy loans so that lenders can go out and write MORE LOANS. You do understand that, don't you?

If Republicans had not allowed the bad loans in the first place - Fannie and Freddie wouldn't have had a problem.

If Fannie and Freddie stopped buying the loans, there would have been a huge credit crunch. Lenders wouldn't have had the liquidity to write any more. That's called being between a rock and a hard place.

The source of the problem was removing the rules governing lending practices and allowing the co mingling of financial services industries.