HMC Rich
Back in 2003, the Bush administration wanted to put in more regulation (Yes more regulation, God the truth hurts) and have Fannie and Freddie come under the Treasury Department for oversight. Barney Frank and the Republicans in charge did nothing. The Congress is also at fault here.
Chuck Hagel wanted reform of GSE’s in 2005 and that went nowhere either. Seems former Clintonista’s had taken Mr. Clinton’s wish to heart to give more people the opportunity to purchase homes. Mr. Raines and a few others benefitted mightily. A 1999 NY Times article correctly identified what would happen if there was an economic downturn. The market shifted and unregulated Mortgage Back Securities caused more problems than expected.
I read the history and see a possibly good idea get manipulated by many forces.
Congress is terrible at running businesses. Look at our Postal Service. Politicians won’t let the postal service become competitive. They keep interfering. I don’t mind congress legislating to keep businesses safe or regulated for the public good, but when partisanship on both sides interferes, we end up paying the bills.
Read the brief history about Fannie Mae at Wikipedia. http://en.wikipedia.org/wiki/Fannie_Mae
Death Panel would be a good name for a Heavy Metal Band.
Plenty of people receiving Social Security Benefits do not need it. Yes, I am talking about higher income people who have been fortunate financially. Others are lucky to have the benefits and need them. Although intended as a Supplement, many view it as the sole benefit.
I like Paul Ryan’s map. Others don’t. Find a better way than his. At least he offered a solution. http://www.roadmap.republicans.budget.house.gov/
Take his example, find others and let the fireworks begin.