Tuesday, October 21, 2008

Dems Will Hold Hearing on Meltdown After Election

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Hope and change.

Rep. Henry Waxman has decided that yes, it is in the best interest of Americans to find out why friends of Obama were getting fat, dumb and happy at our expense. Just not until after the election:

Democrats are giving Republicans the hearing they’ve been demanding to dig into the failures of Fannie Mae and Freddie Mac, but it won’t happen until after the election.

House Oversight and Government Reform Chairman Henry Waxman (D-Calif.) Monday announced that he will hold a hearing into the collapse of the mortgage giants on Nov. 20, and plans to call several of the firms’ ex-CEOs, including Fannie Mae's Franklin Raines.

...“It seems highly suspicious that Chairman Waxman has delayed this particular hearing - which doubtless will focus on the desperate need for reform and Fannie and Freddy, and the equally desperate efforts by Democratic leaders to block those reforms,” said Michael Steel, spokesman for House Minority Leader John Boehner (R-Ohio).

The Center for Responsive Politics found that Sen. Barack Obama (D-Ill.) the Democratic presidential nominee, has received more money since 1989 from Fannie Mae than any lawmaker except for Senate Banking Committee Chairman Chris Dodd (D-Conn.).
McCain has got to hit them hard on this but probably won't. The leading presidential candidate is neck high in bed with two GSE's that led directly to the taxpayers forking over $700-billion and Waxman is playing politics to the extreme.

Welcome to the next four years, folks.

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