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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Your Sunday Video: How The US Became Demoralized

How do these utterly corrupt far left phonies and frauds like Obama, Pelosi, Frank, Reid, Kennedy, Kerry,  Dodd, and William Ayers make it to positions of power? How can a majority of their constituents support  people, the rest of us know are lying, subversive marxists?

How did it happen?

A former KGB agent, interviewed in 1984, explains how the Soviet Union worked (successfully) to subvert North America:

“Education is a weapon whose effects depend on who holds it in his hands and at whom it is aimed.”
Joseph Stalin

Van Helsing at Moonbattery reminds us of more of Joseph Stalin’s words of wisdom that help guide today’s liberals.

These are lessons, people likeObama, and his longtime pal, Bill Ayers took to heart, when they were given a chance to help Chicago schools with 50 million dollars + matching funds, and squandered it all on radical left-wing causes.

Ayers, an unrepentant commie terrorist, is still teaching at the University of Illinois.

WHY?

This nation HAS become demoralized.

A constant drumbeat of political, philosophical, theological, and social propaganda pervades every activity:

The cultural Marxists convince us that the truth is that there is no truth. And even though this unresolvable paradox lies at the very center of all this, the constant drumbeat keeps the masses in line, anesthetized enough to not make an issue of it. Fed a constant diet of sex, drugs, poisonous pop culture, materialistic trinkets, and unkeepable promises of security provided by huge leftist government, ever more globalist in nature, the masses are diverted from realizing, as they are told there is no truth, that this claim itself is subject to the same test. It is logically impossible for the leftist drumbeat to be true by its own axioms.

The principles upon which Western culture rests and upon which America was built are under attack by these slow acting but deadly forces. The drumbeat is grinding down the will of the West to maintain itself. The ideas of individual sovereignty and responsibility, natural rights, and objective truth have been derided by the left to the point that many of our young people reject them, if, indeed, they are even aware of them as the basis for our culture. All that ensures that a culture will pass its ideas down from one generation to the next is its cultural memory. The drumbeat is slowly but surely replacing our cultural memory.

Sorry to be such a downer, today.

The libs have really put me in a funk.

UPDATE:

Oh, man….NYC is a cesspool of intolerant commie-libs…we all knew that….but MY GOD!:

Now, I’m really depressed.