Posted by
Contrarian Guitarist on Tuesday, September 16, 2008 5:17:38 PM
Speaker Pelosi, when asked if the Democrat congress bore any responsibility in banking troubles we find ourselves in said, "No". It was Bush's "mismanagement" that resulted in the current problems. From
the Hill article...
“John McCain said that this is a result of overregulation by the Democrats in Congress,” she added. “Either he doesn’t know what he's talking about or he’s misrepresenting the facts as he knows them. But it’s simply not true.”
McCain "doesn't know what he's talking about"? Hmmm, that's rich seeing that it's Congress that regulates banking. Apparently she's the one who doesn't know what she's talking about. However I would hardly put the blame on the current congress. I would put most, if not all, of the blame on Democratic policies embraced by Republicans to use Fannie Mae an Freddie Mac to artificially boost minority home ownership. The Democrats can't have it both ways. If minorities are unfairly left behind in economic booms, as they say, then they shouldn't be given loans they can't afford during those times. Which is it? They are poor? Or they are homeowners?