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Why Won’t Democrats Investigate Fannie and Freddie?

I’m not the only one to notice my Congressman’s failure to look into the role of Fannie Mae and Freddie Mac in the financial meltdown.  Even though the jurisdiction ofHenry Waxman’s Oversight and Government Reform Committee includes the government-sponsored enterprises (GSEs), at the heart of the current crisis.

In yesterday’s hearings, Waxman and his Democrats “grilled Lehman Brothers executives over CEO pay and ‘deregulation’, but never mentioned the names Fannie Mae and Freddie Mac.“  Seems they so want this scandal to fit their narrative of the private sector run amok that they won’t address the role federal regulation and government-sponsored enterprises played.

At least, one representative wants a broader investgation.  Connecticut’s Christopher Shays wants to bring the records of past hearings brought into the record to show how Congress failed to heed warnings of the coming catastrophe — and to address Bush Administration requests “to overhaul GSE regulation in 2003.

Methinks Waxman and the MSM are ignoring this because of their faith in government institutions and of their distrust of the private sector.  They don’t want to confront evidence which upsets their worldview.  Government regulation, they believe, can’t be responsible for the problem–or even have a share in it because it’s the remedy they seek.

Democrats just don’t want to believe that government might be part of the problem.

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5 Comments

  1. [...] GayPatriot » Why Won’t Democrats Investigate Fannie and Freddie? Sphere: Related Content [...]

    Pingback by Democrats refuse to talk about Fannie, Freddie in Oversight hearing Waxman Helping Democrats Coverup Bailout | USA TERM LIMITS — October 7, 2008 @ 3:51 pm - October 7, 2008

  2. Democrats just don’t want to believe that government might be part of the problem.

    Sorry, I am much more cynical than you are. I think they understand that very well – but they are so much better than the rest of us.
    They don’t view us as equals, we are simply their meal ticket, we should shut up and take it.
    They can screw everything up, then turn around and blame the free market and all hard working Americans who’s lives depend on an economy that works.

    Meanwhile Barney Frank is accusing us of being racist! The Chuztpah!

    Comment by Leah — October 7, 2008 @ 6:42 pm - October 7, 2008

  3. Democrats know the media will not investigate them. It is the media who are the liberals enablers. An old fashion fifth estate who took their jobs seriously would be hip deep in this scandal and it soon would be clear it is a mostly Democrat scandal. 10 Dems should be resigning. It is in their nature to support the poor and they truly wanted to give un qualified people homes. It blew up in their face. They should pay the price. The people want some kind of accountability. Otherwise throw all the bumms out. The baby with the bathwater.

    Comment by Gene in Pennsylvania — October 7, 2008 @ 9:54 pm - October 7, 2008

  4. Methinks Waxman and the MSM are ignoring this because of their faith in government institutions and of their distrust of the private sector.

    I think that’s a charitable assessment. I subscribe to Leah’s view. The only “problem” that Waxman, et al see are occasional attempts by isolated do-gooders here and there to keep them from lining their pockets and those of their cronies.

    They really just don’t give a damn.

    Comment by SoCalRobert — October 8, 2008 @ 12:19 am - October 8, 2008

  5. [...] This indignation on the part of Congressional members is but a clever ruse to cover up their own involvement and failures to implement measures to hedge off what was obviously coming. Indeed, Waxman was dragged into these hearings kicking, screaming biting fighting… refusing to instigate any investigation into Fannie/Freddie’s role until after the Presidential election. Instead, in the wake of the AIG bailout, he focused on Lehman Brothers, never once mentioning Fannie/Freddie’s role. [...]

    Pingback by Flopping Aces » Blog Archive » Fannie & Freddie hearings - “feel good” dance to bury the truth — December 11, 2008 @ 12:09 pm - December 11, 2008

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