Isn't it the TRUTH that 4 or 5 years ago it was the REPUBLICANS that had full control of the Presidency and BOTH Houses of Congress... that would be a yes!
I already agreed with you that at one point Barney Frank was a supporter of Fannie & Freddie and there were a couple Republicans who said they saw some possible problems.
But my point is that the REPUBLICANS could have done anything they wanted just like the Democrats can now... THEY WERE FULLY IN CHARGE... THEY HAD THE NUMBERS TO REGULATE AWAY HAD THE MAJORITY OF THEM WANTED TO DO THAT.
All I'm stating are the overall facts. That Republicans in general vehemently oppose regulation and have worked very hard to try and deregulate almost everything (as in Phil Graham etc.)
And that the vast, VAST majority of Republicans were just like Barney Frank on the Freddie & Fannie issue 4 or 5 years ago.
Let's face it we had problems all over the financial sector as well as housing. Everyone was playing in the margins and there was just plain not enough oversight & regulation. In a word GREED found ways to bundle a whole lot of weak paper and when the economy hicuped... the house of cards started tumbling down.
Now we have to stop the bleeding and work together to get back on a more solid path. We can do this. But let's not get talkin' crazy like Republicans were big on business regulation & oversight... because that's the mirror opposite of their overall Party platform!
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