Tea Party group blasts Allen on Fannie Mae, Freddie Mac
The Virginia Tea Party Patriots, a coalition of over 40 independent tea party groups in Virginia, issued a press release today challenging George Allen’s assertion that he is a Tea Party conservative focusing on the former senator’s failure to reform Fannie Mae and Freddie Mac in 2005, three years before the 2008 financial crisis.
The release highlighted Allen’s decision in 2005 against backing proposed legislation that would have strengthened oversight of the Fannie Mae and Freddie Mac government-sponsored enterprises that operate in the mortgage business.
The Tea Party groups say Allen “fumbled the opportunity” to prevent a housing bubble and financial crisis.
“George Allen calls himself a Jeffersonian conservative. He says he was ‘Tea Party before Tea Party was cool’. The VTPP expects Virginia senators to represent Virginians and not represent out-ofcontrol unconstitutional government entities like Fannie Mae and Freddie Mac that occupied the epicenter of the housing bubble crisis. That’s not cool and neither is George Allen’s name-dropping about being a ‘Tea Party’ conservative, especially when his voting record represents the antithesis of Tea Party principles,” according to the release.