claiming bankruptcy twice
Before you go claiming Bush want to think about this?
Freddie Mac and Fannie Mae were both created by FDR in The New Deal.
Both were guaranteed immunity to bankruptcy by democrats.
In 2003, Bush wrote up some legislature requesting supervision of the 2 companies. – It was shot down, by democrats.
In 2005, John McCain wrote up some legislature requesting supervision of the 2 companies – It was shot down, by democrats.
Now, 2008, Fannie and Freddie seized by the U.S. Government.
Bush certainly saw it coming, and he, and McCain tried twice previously to do something.
If it was shot down with a democratic minority, passing it in 2006-2008 would have been impossible.
Now we are here.
So who is to blame?
I did not mean to put Freddie Mac in their with Fannie Mae – was an error, people make them, thanks for pointing it out.
Regardless both had been entitled to bankruptcy immunity.
OK lets blame everything on Bill Clinton…….Did Bush and his republican congress not have 6 years to clean the mess..? Must have been too busy being a “War President”
BTW Oil was 12 bucks a bbl in 1998 under Clinton…. but we can blame current oil prices on him also
