Geithner: “Fannie and Freddie were a core part of what went wrong in our system.”


	Geithner: “Fannie and Freddie were a core part of what went wrong in our system.”

billpar

11-9-2009 1:09 PM

114 views

tags:

fannie, freddie, gse, mortgage crises

3 Comments |

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11-9-2009 1:33 PM

jatfla

But who was it that seriously warned Congress about them both and when was that????

11-9-2009 1:36 PM

Antara

well now, wasn't it 'racist' to suggest such a thing just a year ago.

These people are unreal.

11-16-2009 11:12 PM

davboz

Yeah, but see they will "fix" the part that was ,..uh,..."wrong" with Fan & Fred and then they will be back to the SAME CRAP AS BEFORE but they will be "fixed", see?,....and they will have "fixed" them and they can go on "covering" the bad loans like before see?,... but that was never what was wrong with them,....'cause,...well...they just weren't regulated properly,...probably 'cause of Bush or Nixon or gosh,,,Bob Packwood,...who knows,...but,...see?....they're "fixed now after Dodd & Elmer Mushmouth fixed em with weguwashun.

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During Geithner’s Senate testimony, he admitted that both Fannie and Freddie played a central role in the financial crisis, telling Sen. David Vitter (R-La.) that the two government-sponsored enterprises (GSE) were a “core part” of the country’s financial woes.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/49791"><DIV>
“Absolutely,” Geithner said. “Fannie and Freddie were a core part of what went wrong in our system.”</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/49791"><DIV>
Geithner explained that the administration did not have the time to come up with coherent regulations regarding Fannie and Freddie because of its other legislative priorities.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.cnsnews.com/news/article/49791"><DIV>
“We did not believe that we could have, in this time frame, lay out a sensible set of reforms to guide and determine what their future will be,” said Geithner. “We didn’t think it was an essential thing to do just now, but we do believe it is an essential thing to do.”</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/147065C5-A9E0-4F7C-899C-8FE843DC917A/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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