Shocking Video Unearthed Democrats in Their Own Words Covering U
Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings
"I think this is a case where Freddie Mac (NYSE:FRE - News) and Fannie Mae (NYSE:FNM - News) are fundamentally sound. They're not in danger of going under I think they are in good shape going forward."
Democrat Barney Frank (D-Mass.), House Financial Services Committee chairman, July 14, 2008
WASHINGTON (MarketWatch) -- Embattled mortgage finance giants Fannie Mae (FNM:
are "fundamentally strong" and questions about their capital are unwarranted, a top U.S. Senate Democrat said Friday afternoon.
"This is not a time to be panicking about this. These are viable, strong institutions," Sen. Christopher Dodd, D-Conn., said at a Capitol Hill press conference.
"The economics are fine in these institutions and people need to know that," Dodd said. There's no reason "to talk about failure," he added.
"These two institutions are fundamentally, fundamentally strong," Dodd said. "There's no reason for the kind of reaction we're getting."
Democrat Sen. Christopher Dodd, who chairs the Senate Banking Committee. July 11, 2008
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