Mr. Ryan's embrace of reform in his first term in Congress compares favorably to the efforts of a freshman Senator from Illinois in 2005. President Obama likes to pretend he was a warning voice in the wilderness because he later issued vague statements of displeasure once the housing market was already cracking.Here's Fannie Mae con man Barack Obama being accepted into "the family".
What Mr. Obama doesn't say is that he failed to support any of the serious reform efforts to reduce the role of Fannie and Freddie in the mortgage market. The same is true of old Senate hand Joe Biden. Mitt Romney was never a Washington politician, so he can't be blamed for the legislative failures of the 2000s.
This history bears further study, as Mr. Obama repeatedly attempts to tie the GOP candidates to Washington's policy mistakes leading up to the financial crisis. In Iowa this week, the President said that Messrs. Romney and Ryan are proposing the same economic policies "that got us into this mess in the first place."
The truth is that the President who loves to talk about the "mess" he "inherited" did nothing to prevent it when he had the chance. In contrast, his opponent's new running mate was an early voice for reforms that might have helped America avoid it.
Saturday, August 18, 2012
Ryan was a voice for Fannie Mae reform while Obama opposed it.
The Wall Street Journal reports on Paul Ryan and "un-reformer" Barack Obama: