Go ahead and hear the actual words
January 12, 2009 · 9:57 AM
Gene Bullock calls the state’s $6 billion debts a simple shortfall. What would his creditors call it if it was his debt?
He totally deflects my original point of the responsibility of this state’s humongous debt. Instead, he rails on about Republican “fat cat scams” and blames the nation’s economic meltdown on the Republicans.
The facts are simple on who is responsible for this state’s debt and the national economic downturn. The state’s debt is due to the democratically controlled Legislature and its tax and spends, out-of-control Democratic governor.
As far as the federal meltdown, all that an informed person needs to do to get the facts directly from the Senate hearing discussing government sponsored enterprises is to Google “YouTube” and search Fannie Mae and Freddie Mac Senate hearings.
There is a later 2004 Senate hearing video which exposes the real discussions and facts related to the Fannie Mae and Freddie Mac financial disaster.
Republicans Richard Baker, Ed Royce and Christopher Shays are reporting to the government-sponsored enterprise oversight committee that Fannie Mae and Freddie Mac are in serious trouble and require more oversight regulations
Democrats Maxine Waters, Gregory Meeks and Barney Frank castigate the report. In their own words they proclaim there is nothing wrong with the financial status of those governmental-supported entities and give kudos’ to Franklin Raines.
If you doubt the facts pointed out in this letter, go to the video. Have the courage to see and hear the actual words from the oversight hearing committee. The blame is not with the fat cat Republicans. It’s with the Democrat-controlled oversight committee.