Blame Democrats for financial mess

I'm sure most Democrats think this housing mortgage crisis is all Bush's fault. After all, he's been blamed for everything from hangnails to the common cold.

The Freddie-Fannie scandal hits deep into the Democratic Party and makes ENRON look like child's play.

It all started in 1992 when a program of then President Clinton made mortgages available to anyone, so they "could enjoy being homeowners." It had become known as the NINJ program: No Income, No Job.

Recent reports show that these two Government Sponsored Entities (GSE's), along with making these high risk loans, have been cooking the books for years so top executives could receive hefty bonuses. Some top Democrats have received large sums of donations from these GSEs, and Obama's name is on that list. No wonder he doesn't want this looked into. Blame Bush instead.

For years, the Bush administration tried to reign this program in but Democrats - Barney Frank, in particular - blocked these efforts and kept the program afloat. (Barney Frank had oversight of the GSE's. Great job!)

In 2005, John McCain was one of four authors of the "Federal Housing Enterprise Regulatory Reform Act of 2005" in an effort to reform the GSEs.

McCain said, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole."

McCain and the Bush administration recognized the problems with the GSEs. They tried to do something about it and Democrats blocked their efforts. Their prediction has now come to fruition. And Obama claims McCain doesn't have a clue about how to run the economy. Yeah, right!

Al Haak

Palatine