healthmyths
Platinum Member
- Sep 19, 2011
- 29,327
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Evidently most people don't know that Obama/Acorn in 1995 forced banks to make loans to people who would NEVER pay them back.
So when the FDIC looked at these toxic loans knowing they would never be paid back, the mortgage holders sold them to Fannie/Freddie.
As a result Fannie/Freddie investments that were guaranteed..
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg
as a result.. investor/banks LOOKED to the U.S. to pay.. i.e. TARP!
All because the Democrats using Community Reinvestment Act to force banks to make bad loans the FDIC would have closed the banks if they didn't resell to Fannie and if these democrats hadn't thwarted ..
Warned by Bush Administration warned about Fannie/Freddie once in 01, once in 02, six times in 03, three times in 04, once in 05, five times in 07, and 17 times in 08. Congress didnt listen especially Democrats LAUGH!!!!
"When warned about Fannie Mae in (House Financial Services Committee Chairman Barney Frank (D-MA)
"these two entities -- Fannie Mae and Freddie Mac --
are not facing any kind of financial crisis....
The more people exaggerate these problems, the more pressure
there is on these companies,
the less we will see in terms of affordable housing."
(New York Times, 9/11/03)
And then Committee on Banking, Housing and Urban Affairs
Chairman Christopher Dodd also ignored the President's warnings
and called on him to
"immediately reconsider his ill-advised" position. .
Fannie Mae and Freddie Mac --
are not facing any kind of financial crisis...
(New York Times, 9/11/03.
AND NOW today...
"Spooked by US political wrangling, major investors including the National Pension Service of Korea and the Kuwait Investment Authority have sold out of their holdings of the debt of the US Treasury-backed housing agencies since the 2008 global financial crisis.
Officials from central banks, including the Bank of Japan,
say they will be far more cautious in future.
Fannie and Freddie debt fuels anxiety - FT.com
So when the FDIC looked at these toxic loans knowing they would never be paid back, the mortgage holders sold them to Fannie/Freddie.
As a result Fannie/Freddie investments that were guaranteed..
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg
as a result.. investor/banks LOOKED to the U.S. to pay.. i.e. TARP!
All because the Democrats using Community Reinvestment Act to force banks to make bad loans the FDIC would have closed the banks if they didn't resell to Fannie and if these democrats hadn't thwarted ..
Warned by Bush Administration warned about Fannie/Freddie once in 01, once in 02, six times in 03, three times in 04, once in 05, five times in 07, and 17 times in 08. Congress didnt listen especially Democrats LAUGH!!!!
"When warned about Fannie Mae in (House Financial Services Committee Chairman Barney Frank (D-MA)
"these two entities -- Fannie Mae and Freddie Mac --
are not facing any kind of financial crisis....
The more people exaggerate these problems, the more pressure
there is on these companies,
the less we will see in terms of affordable housing."
(New York Times, 9/11/03)
And then Committee on Banking, Housing and Urban Affairs
Chairman Christopher Dodd also ignored the President's warnings
and called on him to
"immediately reconsider his ill-advised" position. .
Fannie Mae and Freddie Mac --
are not facing any kind of financial crisis...
(New York Times, 9/11/03.
AND NOW today...
"Spooked by US political wrangling, major investors including the National Pension Service of Korea and the Kuwait Investment Authority have sold out of their holdings of the debt of the US Treasury-backed housing agencies since the 2008 global financial crisis.
Officials from central banks, including the Bank of Japan,
say they will be far more cautious in future.
Fannie and Freddie debt fuels anxiety - FT.com