Nancy Morgan’s latest article from RightBias.com
This event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the ammunition for massive government intervention in the private market.
Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.
This seminal event marked the ascendancy of Obama’s candidacy, and eventually resulted in his election as president. Full article here…