Tuesday, September 30, 2008

Fannie Mae & Freddie Mac

The current status of our economic market is on everyone's minds these days. My friend, Laura, sent me this video from FOX News. It goes through the past eight years of what has been done to try to establish regulations for giants like Fannie Mae & Freddie Mac. Be sure to watch to the end. The news reporter shows video of Senator John McCain addressing the Senate in 2006 about this issue. I wasn't surprised to learn that Senator Obama skipped out on weighing in on the issue or voting for more regulations.

I was surprised to learn that in the House of Reps, ALL Democrats voted against taking steps to insure that these large financial institutions were being run correctly and not posing a risk to our economic well-being.

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