Fox News Channel – 9/24/2008 – “Special Report with Brit Hume”
If Fannie Mae and Freddie Mac had been properly regulated years ago, the repercussions in financial markets could have been avoided.
Democratic Representative Barney Frank weighs in and block reform legislation.
ALAN GREENSPAN – FEDERAL RESERVE CHAIRMAN – House Financial Services Committee Hearing – 2/17/2005
“. . . Enabling these institutions to increase in size – and they will once the crisis in their judgment passes – we are placing the total financial system of the future at a substantial risk.”
DEMOCRATIC SENATOR CHARLES SCHUMER (NY), Senate Banking Committee Hearing, 4/6/2005
“… I think Fannie and Freddie over the years have done an incredibly good job and are an intrinsic part of making America the best-housed people in the world … if you look over the last 20 or whatever years, they’ve done a very, very good job.”
REPUBLICAN SENATOR JOHN MCCAIN (AZ), Senate Floor, 5/25/2006
“For years I have been concerned about the regulatory structure that governs Fannie May and Freddie Mac . . . and the sheer magnitude of these companies and the role they play in the housing market . . . the GSE’s (Government Sponsored Entities) need to be reformed without delay.”
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