talk about Fannie Mae and Freddie Mac, and how the financial crisis started with them. Talk about how Democrats in the Senate and House blocked efforts from Republicans to reform and regulate both Fannie And Freddie.
This issue is tailor-made for a reformer like John McCain. I'd rather hear more from him about the Democrats who were responsible for running Fannie Mae to the ground, and triggering the Economic crisis, than your cause against earmarks. And oh yeah, don't forget to mention Countrywide too.
Sure Obama will try to make Rick Davis an issue during the debate, to make it look like Fannie bought access to John McCain too, even though it is not true. But there's no harm for Obama in trying to muddle the issue.
Wednesday, October 01, 2008
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Yes in the future about 10 years. To keep up with Wall Street expectations, Fannie Mae held onto more mortgages and mortgage-backed securities for investment purposes. The same practice nearly drove the company into bankruptcy in the early 1980s. Once again it was spared in 2008.
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