posted on Nov, 6 2008 @ 08:54 AM
Senator Pelosi (D-CA) states, “Democrats accepts no responsibility for this financial collapse.” She is truly delusional. The reality is that she
and Senator Reed have led the House and Senate to be called “The Do Nothing Congress” with an approval rate of 9 percent. And that was before they
took their last vacation while the nation was experiencing an energy crisis.
In 1995, President Clinton strong-armed Fannie Mae and Freddie Mac to buy all these “subprime loans and mortgages.” Jim Johnson was CEO of Fannie
during these years (1991-1998). The same man that was managing director of Lehman, now bankrupt, the same man Obama hired to help him pick his vice
president. The same man that was on the board of directors of Goldman Sachs who gave $700,000 to Obama.
As soon as Clinton-crony Franklin Delano Raines took the helm in 1999 at Fannie Mae, he used it as his personal piggy bank for a total of more than
$100 million in compensation by the time he left in early 2005 under an ethical cloud. Obama hired him to be his Financial Advisor.
Senators Dodd (D-CT) and Frank (D-MA) both are heads of committees that were supposed to protect us from this sort of thing. President Bush tried to
warn congress twice (2001 and 2003) about Fannie and Freddie. But Democrats said all was fine. Then Senator McCain in 2005 co-sponsored a Bill (S-190)
that would regulate the two. But again, the Democrats stopped it.