FAMOUS CSPAN VIDEOS: 2004 Hearings To Reform Fannie & Freddie – Watch Representatives Frank, Waters, Meeks, Davis & Clay Defend Fannie, Freddie & Raines

WATCH THE ACTUAL COMMITTEE TESTIMONY – WHY REGULATION REFORM FOR FANNIE AND FREDDIE WAS BLOCKED

WATCH THE VIDEO HERE:  

Did you hear the hatred when it was suggested that the GSE’s (Fannie & Freddie are the GSEs) were making horrible loans and it needed to stop!  

How did the reform get blocked ?  You need 60 Votes to pass a law in the Senate – Democrat Senator Christopher Dodd blocked the reform of Fannie & Freddie that could have prevented the Crisis.

The following Articles describe the role of “political ideology” in the Financial Crisis – How Politics fueled the crisis:

Professor Stan Liebowitz: The Real Scandal – http://www.nypost.com/seven/02052008/postopinion/opedcolumnists/the_real_scandal_243911.htm?page=0

Professor Thomas J DiLorenzo: The CRA Scam and its Defenders: http://www.mises.org/story/2963

John R Lott, Jr : Analysis – Reckless Mortgages Brought Financial Market To Its Knees http://www.foxnews.com/story/0,2933,424945,00.html

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