As I believe has been discussed ad nauseum, the main cause of the housing bubble and its subsequent collapse was the reform bills signed into law under President Bill Clinton which allowed (and subsequently Democrats forced) Fannie Mae and Fredie Mac to engage in moronic lending practices such as granting loans to anyone with a heartbeat. Now, Senator Judd Gregg (R. N.H.) has called the Financial Reform Bill a "disaster" and has stated that the provisions will force Fannie Mae and Freddie Mac to make loans on the basis of social justice rather than ability to actually repay the loans. Everyone who voted for this Bill and is up for reelection should be voted out of office. This is ridiculous. Financial reform now means scoring political points against Wall Street and making sure the cause of the problem is repeated? Our Congress has less sense than an anencephalic infant.
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