No Hearings on Fannie and Freddie?
Written by Sam on October 9th, 2008None so far. Henry Waxman (D-CA-30 Malibu, Beverly Hills, Santa Monica), Chairman of the House Committee on Government Oversight and Reform, has spent the week grilling Wall Street CEOs who have walked off with multi-million dollar golden parachutes and rightly so. However, so far he has refused to allow any evidence on Fannie and Freddie to be submitted to the committee by Republicans. The reason for this is clear as Chris Shays (R-CT-04 Stamford, Bridgeport) has pointed out.
“Given that the housing market is what brought down everyone else, why wouldn’t we start with Fannie Mae and Freddie Mac,” who worked their will in Congress, said Rep. Christopher Shays (R) of Connecticut at Monday’s hearing. “Why are we looking at everyone else but Congress?”
It’s their fault, primarily the Democrats’, that this happened. They were the ones that kept pushing back at any attempts to reign in Fannie and Freddie and with a Presidential election just a few weeks away, they don’t want any negative attention weighting down Barack Obama, who happens to be the second highest recipient of money from Fannie Mae.
One of the biggest scandals in American history is about to go by the way side and other than a bit of grumbling, the wussy Republicans are allowing it to be covered up and those at fault to blame them for it.
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PM
Sam, factcheck.org says that calling Obama the “second highest recipient of money from Fannie Mae” is misleading.
“Partially true, but misleading. Donations don’t come from companies. A list of employee contributions puts Obama second, but a different list including lobbyists and directors shows McCain getting more.”