Rep. Barney Frank (D-MA), employing TYPICAL Liberal politics, stated "that Republican criticism of Democrats over the nation's housing crisis is a veiled attack on the poor that's racially motivated."
Typical, when presented with facts, this is what the Democrats do. They play the race card. Barry Obama isn't qualified? That's a RACIST attack!! The Democrats forced Affirmative Action down our throats through essentially coercion of financial institutions to lend to people with shady histories, no or low incomes, etc? That's a RACIST attack!!!
No, Barney; that's not a RACIST attack, that is a FACT instead. We taxpayers are suffering because you and your liberal minions, since the inception of the Community Reinvestment Act of 1977, have, under the threat of litigation, forced financial institutions to completely disregard all common sense and lending acumen, in order to put minorities into houses.
To compound the problem, you and your aforementioned liberal minions profited handsomely from Fannie Mae and Freddie Mac campaign contributions.
Furthermore, Republicans such as George W. Bush and John McCain have issued warnings for year that, due to poor accounting practices, the above mortgage institutions faced financial peril. The Morning Bell states the following:
"(C)onservatives have been critical of how Fannie, and Freddie Mac, have leveraged their government-sponsored advantages (including exemptions from state and federal taxes, lower capital requirements, and the ability to borrow at rates well below those paid by private companies), to create a co-monopoly in the housing finance sector. When Fannie’s accounting scandal came to light in 2004, conservatives pushed hard for reforms to phase out Fannie and Freddie."USA Today also adds that Conservatives should be furious that the Democrats, who essentially caused this mess, are getting off untarnished, no thanks to the corrupt liberal Mainstream Media:
"My bottom line: The McCain campaign is underestimating how absolutely furious conservatives are that free markets, and by extension Reaganomics and the last 25 years of American economic policy, are getting the blame for the housing and credit crisis. A real morale killer, they tell me. Over and over. Every day."John McCain needs to remind the American public of that fact during tonight's debate.