TheCatSite.com › Forums › General Forums › IMO: In My Opinion › No regulations for Fannie/Freddi
New Posts  All Forums:Forum Nav:

No regulations for Fannie/Freddi

post #1 of 2
6/22/09 at 10:33am
Thread Starter 
http://www.cnsnews.com/public/conten...x?RsrcID=49791

Quote:
Fannie, Freddie Were at Center of Financial Crisis But Are Not Included in Obama’s New Financial Regulations
Friday, June 19, 2009
By Matt Cover

Treasury Secretary Timothy Geithner (AP Photo) (CNSNews.com) - Fannie Mae and Freddie Mac, the two government-run mortgage giants, are absent from the Obama administration’s sweeping new financial regulations, despite the fundamental role played by both organizations in the financial system’s collapse.
Isn't that the way it goes, Freddi and Fannie, the two that caused the housing crisis are exempt from the new regulations. Now this is change you can believe in.
Reply
post #2 of 2
6/22/09 at 10:40am
Thread Starter 
And it gets worse,

http://www.humanevents.com/article.php?id=32355


Quote:
[The Obama administration’s latest financial regulatory reform proposal contains a stunning surprise hidden on page 67: “Rigorous application of the Community Reinvestment Act should be a core function of the CFPA.”

The Community Reinvestment Act, or CRA, should be a core function of the CFPA or the Consumer Financial Protection Agency.

Along with Fannie Mae and Freddie Mac at the very epicenter of the financial meltdown last year, the CRA is one of the vehicles used to inveigle, incent or threaten banks into lowering their lending standards to provide home loans to those who simply cannot afford them. According to his proposal, Obama’s new financial regulatory reform promotes more of the same disastrous policy.

Oh yes, let's just keep on doing what got us into this housing mess in the first place.
Reply
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: IMO: In My Opinion
TheCatSite.com › Forums › General Forums › IMO: In My Opinion › No regulations for Fannie/Freddi