Despite all the rhetoric about who is to blame for the problems with Freddie Mac and Fannie Mae, it is important to look at what happened.
These issues are important in looking at the bailout plan. One of the details of the plan pushed by CONgress is that many of the profits generated from the bailout would be directed to community groups like ACORN. Despite many of the chapters being found guilty of voting irregularities, the leaders in CONgress continue turning a blind eye to the group.They know that “investing”government funds into such groups is like an insurance policy to guarantee re-election. This is important to remember when seeing the news reports about the bailout. Although the wall street bankers are being demonized, groups like ACORN are being given the halo effect at the same time. What is being reported is often not what the truth is.
Here is a video of CONgress critters debating the status of them in 2004. The CONgress critters refused oversight back then, especially concerning GSE’s (Government Sponsored Enterprise). CONgress critters have done much to hide their role in Fannie Mae and Freedie Mac. Have a look-see and make up your own mind.
ACORN, bailout plan, Congress and Fannie Mae, Congress and Freddie Mac, Current Affairs, Economic Independence, Maxine WattersIf you enjoyed this post, make sure you subscribe to my RSS feed!
