Kevin Hassett: Blame Dems for Financial Crisis

by Ryan on September 22, 2008

in Economy,Election 2008,Politics has this commentary by Kevin Hassett of the American Enterprise Institute which traces the foundations of the current market crisis to the Democrats stonewalling through procedures in committee a 2005 bill (S.190) which would have prevented Fannie and Freddie from investing in certain risky assets without oversight: hence the current crisis would never have happened because it never would have developed.

I find the end of the article fascinating when Hassett recalls some who protected oversight over Fannie and Freddie: Obama, She Who Must not Be Named, and Chris Dodd, who all coincidentally received hundreds of thousands of dollars from Fannie and Freddie over the years.  Hmm… 

Also, one of the three cosponsors of bill S.190 was none other than John McCain.  Something for you “undecideds” to chew on over the next 43 days.  Just like the Surge, history has shown McCain’s instincts to be right and Obama’s to be wrong.

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