Jeb Hensarling who ran unopposed is one of the smartest and sharpest conservative congressmen today….and just for the record he gets a rating of -3 from the Arab American Institute…….rsk
The Republican Party made a mistake when it let the political left blame the 2008 housing crash on big banks, free-market competition and “deregulation.” House Financial Services Chairman Jeb Hensarling is doing his best to correct the historical record, and if his GOP colleagues want to push serious financial market reform, they would be smart to support him.
Here’s a sample of the Texas congressman’s straight talk, from a Tuesday committee meeting: “Contrary to the fable told by the left, the root cause of the financial crisis was not deregulation but dumb regulation. Regulations and statutes that either incented or mandated financial institutions to loan money to people to buy homes they ultimately could not afford to keep. Exhibit one, Fannie and Freddie’s affordable housing goals. Seventy percent of all troubled mortgages were backstopped by Fannie, Freddie and other federal agencies.”