[TerrysSPF]

cobra bill: You say that now is not the time to blame one party or the other.............but THAT is exactly what you do.

Do you remember in the late 1990's when the Democrats and the Clinton administration were asking for lax lending practices so the "poor" and minorities could obtain home loans? -I do. They changed the laws, they were weak on oversight, and the banks made it easier for people to get approved for loans. Many top executives working for Fannie Mae are Democrats, and some even came from the Clinton administration. Two of Omama's top advisors are former CEO's of Fannie.

Is Bush innocent in all of this? -Hell no. He did ask for reform of Fannie and Freddie back in '03 and '05 (and McCain asked for it in '03 and '06) but the Bill was blocked (actually shot down my members of both parties - but mainly the democrats). -But average U.S. citezens don't know whats going on in Washington and paid no attention to Bush's request.
However, as President, he has the power of the bully-pulpit and, IMO, should have gone directly to American citizens and explained that Fannie and Freddie were dealing in bad paper.

-At least we would have been warned.

Barney Frank (Chairman of the House Financial Services) and Chris Dodd (Chairman of the Senate Banking Committee) are both Democrats, and their Committee's are in charge of banking oversight. Both men said that Fannie and Fraddie were in "good shape". Barney Frank even said that Fannie "couldn't get too big" when he was questioned by Bush about Fannie and Freddie possibly taking on too much dept.

Blame Bush all you want. But what's your excuse on why DEMOCRATS didn't warn America about what was going on? -They obviously knew about it too.