Mustang's Corral

I'm so sick and tired of people claiming George Bush removed ALL oversight of EVERY part of the economy. A 5th grader could look it up and see that it's not true! A two minute search found this.

This from Market Watch:

http://www.marketwatch.com/news/story/bush-against-mor
e-mortgages-fannie/story.aspx?guid={550D5AFD-3900-411A-
8EA4-8CD2E28AD678}


"But even as Senate Democrats including Charles Schumer of New York and Senate Banking Committee Chairman Christopher Dodd have called for allowing the government-sponsored enterprises to buy more loans, their regulator has remained mum on the request. The head of the Office of Federal Housing Enterprise Oversight has said that Fannie and Freddie have made progress reforming their governance, but that more needs to be done.

Fannie Mae was fined $400 million in May 2006 after regulators found that senior executives manipulated books to reap bonuses for themselves. In 2003, Freddie Mac said that it misstated earnings by $5 billion for the years 2000 to 2002. The McLean, Va.-based company paid a fine of $125 million."

Looks like there's no oversight huh? WRONG! Also, read that first paragraph and you'll see that DEMOCRATS were calling for them to BUY MORE LOANS! Senate Banking Committee Chairman Christopher Dodd IS A DEMOCRAT!