What are the roots of the sub-prime mortgage mess? While the democratic party and Barak Obama love to blame the GOP and Bush policies the fact is that the mess is built upon the manipulation of markets in order to promote affordable housing policies. This was led by a few leading democrats who are today blaming the GOP for political gain. They are hypocrites. Create easy credit and easy money to promote an agenda this is what we get.
Affordable housing is a laudible goal. Getting more families into homes that they own is worthwhile. Creating a market for artificially cheap mortgages for people that can’t afford them, watching them be foreclosed on and then demonizing everyone else for the problem you helped to create. That is just BS.
Yet when challenged and as the truth emerges about these facts people go nuts (on both sides).
Republicans began warning about Fannie Mae and Freddie Mac a decade ago. The Bush administration raised red flags as early as 2001 and even asked for more regulation and oversight in 2003. Yet Barney and Nancy were raking in cash from Franny and Freddie
John McCain sponsored a bill warning about banking crisis in 2005… and every time the DEMOCRATS said there was no threat and shot down the bill.
Here is actual video footage of Barney Frank and other Dems during those years… showing they are lying now about who is to blame.
