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Dem Admits....................

Mike

Well-known member
Rep. Artur Davis, Alabama DEMOCRAT; House Representative
"Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."
 

backhoeboogie

Well-known member
Or Mike! Say it aint so! Somebody pinch me!

There is still a democrat who is accountable? Unbelieveable. I could vote for someone like that!
 

TexasBred

Well-known member
REMARKS BY REPRESENTATIVE BARNEY FRANK (D-MA), INCOMING CHAIRMAN OF THE HOUSE FINANCIAL SERVICES COMMITTEE, AT THE OFFICE OF THRIFT SUPERVISION HOUSING FORUM; LOCATION: THE NATIONAL PRESS CLUB, THE NATIONAL PRESS BUILDING, WASHINGTON, D.C. Federal News Service December 11, 2006 MondayNow let me turn to housing — we have more to do yet in the deregulation. I’m just saying that one of the things that we did was to try and reduce the reporting requirement from the banks to the financial detectives. And far too much has to be reported now, in my judgment, of a routine nature. And the metaphor that I use is that we have told the law enforcement people to find a bunch of needles, and then we have set about building them a very big haystack. And we ought to thin that down so they can do a better job.

One of the things that I want to stress to my liberal friends is that excessive regulation or ineffective regulation is bad for regulation. Regulation is very important. The market does need some corrections, but if you overdo it, then you weaken your case.
 

aplusmnt

Well-known member
Mike said:
Rep. Artur Davis, Alabama DEMOCRAT; House Representative
"Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."

It is nice to see a Politician admit they are wrong! I know nothing of this one, but when you see guys like Obama not wanting to say they would have changed their vote for the surge because they can not admit they were wrong it is sickening.
 
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