What they’re saying
Reaction to the rescue of Fannie Mae and Freddie Mac:
“They found out they had a house of cards. Once they got someone looking closely at Fannie and Freddie’s books, they realized there just wasn’t adequate capital there.”
Sen. Richard Shelby
, R-Ala.
“We accepted him at his word that all he needed was the authority and that he wasn’t going to exercise it. Then he used his authority very aggressively. Fool me once, your fault. Fool me twice, my fault.”
Sen. Christopher Dodd
, D-Conn., on Treasury Secretary Henry Paulson
“A failure would affect the ability of Americans to get home loans, auto loans and other consumer credit and business finance. And a failure would be harmful to economic growth and job creation.”
Dana Perino
, White House spokeswoman
