Democrats In Their Own Words

This hearing is from 2004. Democrats fighting tooth and nail to keep Fannie and Freddie from being reformed before they blew up and are now threatening the world's financial structure. In the hearings Democrats tell us "nothing is wrong," beat up on the would-be regulators, and tell us that Fannie and Freddie are operating exactly as they want them to act.

We see Maxine Waters (DEMOCRAT) accuse the regulators of “…trying to fix things that are not broke.”

We see Gregory Meeks (DEMOCRAT), Arthur Davis (DEMOCRAT), Lacy Clay (DEMOCRAT) and Barney Frank (DEMOCRAT) defending Fannie and Freddie’s accounting practices.

And then we have the testimony of Franklin Raines, CEO of Fannie Mae testifying that the real estate backed assets he holds are “so riskless” that he should be able to leverage his assets 50 to 1.




Democrats, doing what they do best, obstructing and shafting the American people.

Frank Raines was convicted of cooking the books at Fannie Mae and had to pay a near $30 million dollar fine.

Meanwhile, the time bomb kept ticking away ...




Anyone know where Obama was? Oh yeah, right he was in the Senate for 143 days, then he started his endless campaign for President of Kenya. Oddly enough, Kenya is getting in the middle of the al Qaeda terror business.