Real Financial Reform vs the Wingnut Freddie/Fannie Myth

[Joanne98]

While Democrats are attempting to have a serious debate and put together a good comprehensive Financial Reform Package that will pay for the Funeral Services of Failing Banks (which the Right calls a "Perpetual Bailout"), address "Too Big to Fail" and re-establish Glass-Steagal, Republicans and Tea Partiers are obsessing on one thing...

What about Freddie and Fannie?

It all started with this Tweet

@GOPWhip The Democrats' Dirty Little Secret http://j.mp/... #tcot #teaparty #rs #ocra #gop #obama

Which in turn linked to this Video



My Response of "Another Pack of Lies..." led to a fiery exchange with one of the Conservative Faithful, which for me at least proved enlightening if also sad...

Vyan's diary :: ::
Stomping out this myth could be as bad as dealing with Birthers and Deathers.

The core of the Cantor Video's claim is that Democrats have Shielded Fannie & Freddie from reform comes not that surprisingly from the Murdock Street Journal...

Continued>>>
http://www.dailykos.com/storyonly/2010/5/9/864925/-Real-Financial-Reform-vs-the-Wingnut-Freddie-Fannie-Myth

The Freddie and Fannie myth is here to stay. I admire people who try to debate it but it like debating the birthers. A huge waste of time... What I say is.....

I have a Freddie Mac loan and if you screw it up I will *&^%$

Fill in the blank.

[tularetom]

1. I've pretty much stopped talking reform with my brother because of this

Every time the subject of Goldman Sachs, AIG, Lehman Bros., CDO's or sub prime mortgages arises he immediately brings up Fannie Mae and Freddie Mac as far worse than any of them.

A related theme is that the collapse of the sub prime mortgage market was due to the government forcing lenders to make loans to minority borrowers.

[MIprogressive]

2. ive heard students in my poly sci classes talk about fannie and freddie

but I don't know enough about them to respond. Can someone please explain what really happened as compared to the myth? Ive just gotten into politics this year after deciding to make poly sci my minor in college.

[MIprogressive]

3. can someone please help?