For Immediate Release                                                                                                                              December 7, 2011

Contact: Mark Lloyd
Email:                                                                                                                                 Cell: 434-942-3636


Virginia Tea Party Patriots Condemn George Allen for Failure to Support Fannie Mae and Freddie Mac Reform

Allen takes the money and runs, leaving Americans to deal with the mess


(Richmond, VA) –  The Virginia Tea Party Patriots (VTPP), a coalition of over 40 independent tea party groups in Virginia, is continuing its “truth in voting” education drive in the Virginia U.S. Senate primary race.  The VTPP seeks to challenge George Allen’s assertion that he is a “tea party” conservative, by focusing on the former Senator’s failure to reform Fannie Mae and Freddie Mac in 2005, three years before the 2008 financial crisis.

Former Senator Allen had a golden opportunity in 2005 to support proposed legislation by signing on as a cosponsor to Senate Bill 190 that would have strengthened oversight of the troubled and unconstitutional Fannie Mae and Freddie Mac government-sponsored enterprises that operate in the mortgage business.  Instead, George Allen took money from Fannie Mae and Freddie Mac lobbyists and ran. He fumbled the opportunity to prevent a housing bubble and financial crisis and as a result Senate Bill 190 was never brought to the Senate floor for a vote and everyday Americans were left to suffer from the resulting economic meltdown.

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-of-control 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.

What is cool are the Tea Party principles of fiscal responsibility, Constitutionally-limited government and free markets.  With fiscal responsibility, the housing bubble and financial crisis would have been averted. In a Constitutionally-limited government Fannie Mae and Freddie Mac and the associated corruption would cease to exist.  A free-market mortgage industry would be less vulnerable to the government interference and the political meddling that afflicted Fannie Mae and Freddie Mac and led to George Allen’s pay-off.

Virginia needs future Senate leaders who will stand strong for Tea Party principles, limited government, increased liberty, and free-market prosperity.

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