Sunday, October 5, 2008

Kanjorski Protected Fannie Mae and Freddie Mac

In response to the present financial fisaco Paul Kanjorski released a list contaning the legislative attempts and actions he took to ensure the financial stability and health of Fannie Mae and Freddie Mac, two government sponsored enterprises(GSEs) where oversight fell directly under his subcommittee. In a September 21, 2008 article by Borys Krawczeniuk of the Scranton Times Tribune Kanjorski defended his financial oversight record.

A release from his office is quoted “From the very start, Congressman Kanjorski calls for a strong, independent regulator that has the resources needed to get the job done,” the timeline says. “More than two dozen ... hearings follow in the next several years and legislation begins to move forward afer the identification of accounting problems at Freddie Mac and Fannie Mae.”

It goes on to blame President George Bush and a Repbulican Congress for ignoring his efforts. The problem with Paul Kanjorski is that he is incapable of thinking, incapable of governing, and incapable of telling the truth.

On the very same day the folks over at gatewaypundit published an article titled "Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings ."

It states "For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems. The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.Unfortunately, Congress did not act on the president's warnings:"

If you click on the link for that article you can read President Bush's attempts that seem to refute Paul Kanjorski's asssertions at feeble attempts to straighten out Fannie Mae and Freddie Mac. After all Paul did take their PAC money but tried to tell the American public it doesn't influence the way he does his job. Paul, so why did you take their money?????

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