Kyle-Anne Shiver’s blog has three videos on the Fannie Mae Crisis, and if anyone is uncertain on the origin these should clarify it tremendously. View all three at http://www.kyleanneshiver.com/
Also view this Fox News piece http://www.youtube.com/watch?v=cMnSp4qEXNM .
If the general public understood the origin then this crisis would be a boon to the Republican candidates and a total embarrassment to the Democrats. Yet just the opposite seems to be the case. I can not remember a problem of this magnitude that has had such partisan origins.
a few highlights
At the center of this financial crisis is Fannie Mae
Leveraging the crisis is the Community Reinvestment Act, originated under Carter and heavily pushed under Clinton
Bush, McCain, Alan Greenspan and other mostly Republican leaders have warned about the growth of Fannie Mae, its mismanagement, and the need for vigorous oversight as far back as 2001.
On almost strictly party lines the Democrats in Congress refused to acknowledge these serious warnings and voted against bills to restrict Fannie Mae.
Obama was second only to Christopher Dodd in the amount of financial contributions from Fannie Mae. Yet he was the most junior senator.
Some of the worst perpetrators of the Fannie Mae crime are Obama’s financial and housing advisors, such as Raines and Johnson.