Saturday, January 28, 2012

"All The Devils Are Here" (Pg. 346)

In mid-February [2008] President Bush signed a law that included a provision to raise the size of the jumbo mortgages Fannie and Freddie could buy, from $417,000 to $729,750 in high cost areas - a stunning, unnecessary increase that was supported by both Democratic Speaker of the House Pelosi and Republican John Boehner, the minority leader.

[Hank] Paulson fought the increase because he didn't see why the GSEs were needed to suppot the high-end housing market, and he told a group of Senate Republicans that he would hold firm. But it was a losing battle, raising the limits was popular with members of Congress on both sides of the isle.

In a meeting with Pelosi and Boehner, Pelosi told Paulson they were going to raise the limits. She said it in a way that suggested he would be unable to stop her. Then she laughingly showed him a note that Boehner had slipped her. "Let's role Hank," it said.

Folks... these are the sort of scum we're dealing with.

And today?

Boehner is Speaker of the House and Nancy Pelosi is minority leader.

Seriously... explain to me once again how violence isn't the only answer.

No comments: