H.R. 3997: Emergency Economic Stabilization Act of 2008
Posted on September 29th, 2008 by bile Tags: bailout, Barack Obama, Community Reinvestment Act, CRA, Democratic Party, Emergency Economic Stabilization Act of 2008, Fannie Mae, Freddie Mac, H.R. 3997, House Financial Service Committee, housing bubble, James Johnson- One page summary of the Emergency Economic Stabilization Act of 2008
- Section by section summary
- H.R. 3997: Emergency Economic Stabilization Act of 2008
Read and weep.
There are some other documents linked on the House Financial Service Committee site but at the time of posting they were dead
- On Housing Finance, the Difference between Democrats and Republicans Has Been Night and Day
- The Truth about the Community Reinvestment Act
- The Truth versus the Republicans on the Regulation of Subprime Mortgages and Fannie Mae and Freddie Mac
I imagine the Truth about the Community Reinvestment Act in particular is full of bullshit.
The Democrats want to distance themselves from the CRA as much as possible or spin it to look like it wasn’t a major contributor to the housing bubble. They are also looking to divert attention from the fact Fannie Mae was a major contributor to Obama as well as he chose former Fannie Mae CEO James Johnson, who was found to have cooked the books, to head his search for a vice president.
One Response to “H.R. 3997: Emergency Economic Stabilization Act of 2008”
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September 29th, 2008 at 11:45 am
http://www.lewrockwell.com/...
From the bailout bill:
Oh now that’s rich. How about applying that provision to the state itself?
(Thanks to Gardner Goldsmith for pointing this out.)