Video: Democrats In Congress Defend And Cover For Fannie Mae And Freddie Mac

Listen to these geniuses four years ago:

First three of this brain trust:

Democrat Maxine Waters, CA: (reading from her statement):

…Through nearly a dozen hearings where, frankly, we were trying to fix something that wasn’t broke. Mr. Chairman we do not have a crisis…

Democrat Gregory Meeks, New York (riled up and indignant) :

They’ve done a TREMENDOUS job, there’s been NOTHING that’s been indicated that was wrong, with, you know, with Fannie Mae and Freddie Mac…..

Democrat Lacy Clay, MO (not able to resist throwing out that race card):

This hearing is about the political lynching of Franklin Raines.

Watch an all star cast of Democrat morons facilitate what has become the greatest financial crisis since 1929. Share the frustration of the Republicans who tried in vain to fix the problem:

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Sorry, that was Nice Deb’s head hitting her keyboard, after she saw Obama’s latest poll numbers, which went up because Americans trust Democrats more with the economy.

Hat tip: Lucianne.

UPDATE:

Ed Morrissey at Hot Air,  after having seen the video:

The Democrats attacking the regulator here didn’t do so out of some deep conviction against government regulation.  They wanted to keep the gravy train rolling on questionable mortgages in order to endear themselves to the working class, and didn’t mind smearing the OFHEO regulator as a racist in order to succeed.  The Republicans who wanted more oversight didn’t demand it as socialists looking for a government takeover of the financial sector, either, but because they saw the impending disaster looming for Fannie Mae.

Democrats distorted the market through the CRA and through Fannie and Freddie’s massive securitizing of bad debt, and then blocked regulators from doing their jobs.  That’s the real story of this collapse.

RELATED:

Here’s the guy Americans trust more with the economy:

Also: Read Stanley Kurtz’s piece in the New York Post, today: O’s Dangerous Pals:

Hmm. Radicalism disguised by a claim to be postideological. Sound familiar?

The Woods Fund report makes it clear Obama was fully aware of the intimidation tactics used by ACORN’s Madeline Talbott in her pioneering efforts to force banks to suspend their usual credit standards. Yet he supported Talbott in every conceivable way. He trained her personal staff and other aspiring ACORN leaders, he consulted with her extensively, and he arranged a major boost in foundation funding for her efforts.

And, as the leader of another charity, the Chicago Annenberg Challenge, Obama channeled more funding Talbott’s way – ostensibly for education projects but surely supportive of ACORN’s overall efforts.

In return, Talbott proudly announced her support of Obama’s first campaign for state Senate, saying, “We accept and respect him as a kindred spirit, a fellow organizer.”

IN short, to understand the roots of the subprime-mort gage crisis, look to ACORN’s Madeline Talbott. And to see how Talbott was able to work her mischief, look to Barack Obama.

Then you’ll truly know what community organizers do.

The McCain campaign HAS to start hammering the Democrats, and particularly Obama, hard, on their roles in this financial crisis.

UPDATE (October 2):

Awwwww…isn’t this cute?

Here, written down for posterity, is what some key Democrats said about Fan and Fred.

None of them had any clue…NO IDEA! that a crisis was looming. They just kept merrily going on their way, blocking every attempt by Republicans to make things right.

How can you blame such compassionate people whose only crime was that they wanted every person in America to buy have a house.

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