The change we need

Dès 2006, John McCain avait prédit que si les politiciens ne serraient pas la vis à Fannie Mae et Freddie Mac, l’économie américaine allait connaître des heures sombres. Voici un extrait d’une allocution de McCain fait devant le sénat le 25 mai 2006 (et qui est malheureusement tombé dans l’oreille d’un sourd):

« This week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were ‘illusions deliberately and systematically created’ by the company’s senior management, which resulted in a $10.6 billion accounting scandal. For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation. »