Posted by: mamamamahoney | October 3, 2008

Some Facts About the Current Financial Crisis

I’m providing these facts regarding the current financial crisis, because it seems every time I find something great that explains this (for the people who keep blaming GW), it gets taken down:

  • Clinton (NOT BUSH) altered the Community Reinvestment Act back in the late 90’s.
  • Bush tried to add stricter oversight and regulations in 2003, but DEMs killed it.
  • In 2005 McCain co-sponsored legislation to add stricter regulations on companies like Fannie Mae and Freddie Mac, but the DEMs killed it again.
  • One of Obama’s advisors was a former CEO of Fannie Mae, a man who’s partly responsible for the companies collapse and has been accused of making shady business deals.
  • One of the biggest causes for the economic collapse was providing homes for people who couldn’t afford them, something the Dems pushed.
  • In 1994, Obama was an attorney who sued Citibank for denying people loans, because they couldn’t afford them. Though, Obama was saying it was a race issue.

These facts are scary. Obama’s been a part of the problem in the economy (though I’m sure he’ll continue to blame the Republicans), his advisers were part of the problem, so electing him won’t end economic woes or CHANGE anything.



  1. thanks for publishing this … go McCain!!

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