Who Opposed More Regulation?

Prior to yesterday’s vote in the House of Representatives on the financial rescue package, Speaker of the House Nancy Pelosi, the Democratic leader in the House, said, “For too long this government, eight years, has followed a right-wing ideology of anything goes, no supervision, no discipline, no regulation.”   Rep. Pelosi is either intentionally misleading the public or she is suffering from Alzheimer’s disease.   The facts are that it was the Democrats—not the Republicans—who opposed increased regulation of Fannie Mae and Freddie Mac.   If you don’t believe me, then listen to what some Democrats and Republicans were saying in their own words.    Below are two links to videos on YouTube.   I recommend that you take the time to watch them.  I do not approve of all the language that has been inserted between the video clips on the second link, but you need to listen to what the Democrats were saying when the Republicans warned that a major financial crisis was looming.   Here are the links. 

http://www.youtube.com/watch?v=3QBRIsCkGQ0 

http://www.youtube.com/watch?v=_MGT_cSi7Rs 

Don’t get me wrong.   I am not trying to place all the blame on the Democrats.  There is plenty of blame to go around.   I am simply pointing out the hypocrisy of Speaker Pelosi and other Democrats who are trying to convince you they are without blame and that the Republicans are responsible for the current financial crisis.