Video: Republicans Warned About Freddie Mac & Democrats Ignored Problem

Video: Republicans, Including Ron Paul, Warned About Freddie Mac & Democrats Ignored Problem

http://www.youtube.com/watch?v=_MGT_cSi7Rs

The government under Bill Clinton forced loan requirements to be greatly diminished and given to people who were very high risk. It's basically an "Affirmative Action" type of lending. Democrats have pushed for even fewer requirements in who is loaned sums of money, wanting massive loans to go to people who simply couldn't afford it or even had records of defaulting on loans.

Republicans saw these problems and wanted to put sound judgment back into how Fannie Mae and Freddie Mac operated. Of course, as it typical of the left, Republicans were called racists and mean-spirited simply because they wanted our tax dollars to be used wisely and not put at higher risk than necessary. One Democrat even said he was "ticked" because Republicans called a meeting about the situation.

As seen in the video above, even President Bill Clinton pointed out that Republicans were right in wanting to tighten up the unsafe lending practices of Fannie Mae and Freddy Mac. But Democrats didn't listen and even mocked Republicans for pointing it out. Now 3-4 years later look what happened. Turns out Republicans were right. Wouldn't ya know it? And of course, Democrats Nancy Pelosi and Barney Franks are jumping to apologize....oh no, wait, they are blaming it on President Bush. Shocker there, huh?

And by the way, in just three years in the senate, Barack Obama is the second largest recipient of campaign contributions from Fannie Mae.

Send this one to your friends so that the truth can get out. Not that many Obama supporters will care about the truth.