Fannie Mae In 2004 (Congress, economy, financial, money)

[Motion]

They have two videos.

Online NewsHour: Fannie Mae's Financial Troubles-- December 22, 2004

Makes you wonder if this mortgage mess could have been avoided back then?

[Lincolnian]

Greenspan warned Congress back in February of 2004 about Fannie Mae. Senator Bennett raised concerns about Fannie Mae and Freddie Mac in 2003 as well as problems with GSE oversight post Gramm-Bailey legislation.

Bennett feared a financial meltdown. Others refuted it and were more concerned with the "soft spot" the economy had hit at the time.

http://www.access.gpo.gov/congress/s...8hrg/21384.pdf

[Motion]

Was it mainly Democrats who interfered with improving regulations on Fannie and Freddie in 04?

[Motion]

Check this out. Also from 2004.

USATODAY.com - Subprime loan market grows despite troubles

[Christian Arab]

Read this article and then check out the date it was published…scary
Fannie Mae Eases Credit To Aid Mortgage Lending - New York Times (http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=all - broken link)