Sunday, September 21, 2008

Freddie Mac and Fannie Mae

On Fox News Sunday just now, Arizona Representative Jon Kyle just said that Republicans have been calling for more regulation of Freddie Mac and Fannie Mae since 2002. Democratic Senator Chuck Schummer (who was sitting right next to Joh Kyle at the time) tried to dance around the issue but did not dispute the facts.

2 comments:

Kevin said...

Washington must be changed. The issues we're facing today are largely due to our politicians pursuing their own power, their party's power, or their little pet agendas with little consideration of the impact of their actions. They pit citizens against each other, waste billions of tax payer dollars each year, lie, steal, and deceive. Washington needs to change.

Robert said...

Part of the problem was that the Democrats were getting some pretty nice benefits from those companies and they didn't want the gravy train to end. Additionally, some of them ended up as economic advisers in the Obama campaign.

While this is clearly not a Democrat only issue, it does highlight the problem with letting government be heavily involved in business. Business is not inherently political. Once it is made so, it tends to create no end of problems. With the government in control, there is little surprise things started going crazy.