Thanks to Ace of Spades for the link.
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MORE: Some more on Dodd? OK, how about this:
As recently as last summer, when housing prices had clearly peaked and the mortgage market had started to seize up, Dodd called on Bush to "immediately reconsider his ill-advised" reform proposals. Frank, now chairman of the House Financial Services Committee, said that the president's suggestion for a strong, independent regulator of Fannie and Freddie was "inane."
No. No need for a strong, independent regulator. Not when Fannie and Freddie are "fundamentally strong", as Dodd was saying just this past July:
WASHINGTON (MarketWatch) -- Embattled mortgage finance giants Fannie Mae and Freddie Mac are "fundamentally strong" and questions about their capital are unwarranted, a top U.S. Senate Democrat said Friday afternoon.
"This is not a time to be panicking about this. These are viable, strong institutions," Sen. Christopher Dodd, D-Conn., said at a Capitol Hill press conference.
The comments came as the two government-sponsored enterprises continued to be the focus of growing fears they could be insolvent or could face a capital crunch. ...
"The economics are fine in these institutions and people need to know that," Dodd said. There's no reason "to talk about failure," he added.