Thursday, October 09, 2008

Kudos to Rep. Artur Davis

Kudos to U.S. Representative Artur Davis, a Democrat from Alabama, for having the courage and fortitude to tell the truth when it comes to Fannie Mae and Freddie Mac and the role they played in the current financial crises.

From the Wall Street Journal article "Barney Breaks It Down, Who really caused the credit crises?"

Last week Representative Artur Davis of Alabama said in a statement: "Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."

Mr. Davis is a Member of the Congressional Black Caucus.

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