Democrats on Freddie and Fannie

[DiveCon]

So you start a thread with a clip that wants to law the blame solely on the Dems. Makes sense.

It shows hypocrisy...

You mean of Republicans blaming Dems for the housing crisis. Most of us realize it, but thanks for pointing it out again.

no, as usual, you get it backwards
but thats how i've come to expect things from a partisan fucking hack like you

 

[Iriemon]

It shows hypocrisy...

You mean of Republicans blaming Dems for the housing crisis. Most of us realize it, but thanks for pointing it out again.

Yea sure....

[ame]http://www.youtube.com/watch?v=RAuOEdttjZQ[/ame]

O'Reilly is an partisan ass. Funny he tries to blame Frank by shouting him down, when Frank joined the only bi-partisan bill that came up to regualte F/F which its Republican sponsor said Bush shot down.

But if O'Reilly wants to blame Frank for the crisis, let's got to a valid source of information and look at who was really responsible for F/F oversight.

The agency responsible for oversight of Fannie and Freddie is the Office of Federal Housing Enterprise Oversight (OFHEO):

OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

How is oversight of Fannie Mae and Freddie Mac divided between OFHEO and HUD? The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 created a regulatory oversight structure for the housing government-sponsored enterprises of Fannie Mae and Freddie Mac. The regulatory oversight was divided to address two functions – their financial safety and soundness and their affordable housing mission. The financial safety and soundness regulation is vested in the Office of Federal Housing Enterprise Oversight (OFHEO). OFHEO implements, monitors and enforces capital standards for Freddie Mac and Fannie Mae.

Fannie Mae and Freddie Mac's loan limits adjust every year in accordance with the results -- as determined by Office of Federal Housing Enterprise Oversight (OFHEO)
The Director of the OFHEO:

James B. Lockhart, III, is the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. ... He was nominated by President Bush to that position and confirmed by the Senate in June 2006.

The agency that oversees the OFHEO:

The U.S. Department of Housing and Urban Development (HUD) carries the oversight responsibilities for the housing mission of the GSEs. .

Office of Federal Housing Enterprise Oversight

Prior to Housing and Economic Recovery Act of 2008 (HERA), the Secretary of HUD was the mission regulator for the GSEs, with oversight authority to ensure that both GSEs complied with the public purposes set forth in their charters. HUD had general regulatory authority for oversight responsibilities, which included establishing housing goals; monitoring and enforcing compliance with housing goals; new program approval; collecting loan-level data from the GSEs on their mortgage purchase activities; making available to the public a database on non-proprietary GSE loan purchase data; and ensuring GSE compliance with fair lending requirements. An independent office of HUD, the Office of Federal Housing Enterprise Oversight (OFHEO) regulated the GSEs for safety and soundness by ensuring that they were adequately capitalized and operating their businesses in a financially sound manner

General Resources - Legistraight

Secretary of HUD: Nominated by President Bush, affirmed by the Senate:

Jan 21, 2001-Mar 31 04: Mel Martinez
Mar. 31, 2004 - April 18, 2008: Alphonso Jackson

Here's a report of the OFHEO director, appointed by president Bush, on June 30, 2006, doing his job of overseeing the safety and health of Fannie and Freddie.

Fannie Mae, Freddie Mac capital levels adequate: Ofheo - MarketWatch

Mortgage financiers Fannie Mae and Freddie Mac were deemed “adequately capitalized” as of March 31, 2008, according to a statement released by the Office of Federal Housing Enterprise Oversight today.

Fannie and Freddie Capital Levels Adequate

JAMES LOCKHART, DIR., OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT: They have risk out there. There's credit risk. There's market risk, but on the other hand, they have good controls in place and I think this money will be used very prudently.

Nightly Business Report . OFHEO Gives Fannie Mae & Freddie Mac a Much Needed Boost | PBS

McCain was saying the economy was fundamentally sound then too. No one foresaw the extent of the collapse of the real estate market.

 

[Annie]

Media Mum on Barney Frank's Fannie Mae Love Connection

Media Mum on Barney Frank's Fannie Mae Love Connection
Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive.

By Jeff Poor
Business & Media Institute
9/24/2008 4:00:57 PM

Are journalists playing favorites with some of the key political figures involved with regulatory oversight of U.S. financial markets?

MSNBC’s Chris Matthews launched several vitriolic attacks on the Republican Party on his Sept. 17, 2008, show, suggesting blame for Wall Street problems should be focused in a partisan way. However, he and other media have failed to thoroughly examine the Democratic side of the blame game.

Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive.


The media coverage of Frank’s coziness with Fannie Mae and his pro-Fannie Mae stances has been lacking. Of the eight appearances Frank made on the three broadcasts networks between Jan. 1, 2008, and Sept. 21, 2008, none of his comments dealt with the potential conflicts of interest. Only six of the appearances dealt with the economy in general and two of those appearances, including an April 6, 2008 appearance on CBS’s “60 Minutes” were about his opposition to a manned mission to Mars.

Frank has argued that family life “should be fair game for campaign discussion,” wrote the Associated Press on Sept. 2. The comment was in reference to GOP vice presidential nominee Sarah Palin and her pregnant daughter. “They’re the ones that made an issue of her family,” the Massachusetts Democrat said to the AP.

The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup.

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk. Frank’s office has been unresponsive to efforts by the Business & Media Institute to comment on these potential conflicts of interest.

While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises....

 

[Iriemon]

It shows hypocrisy...

You mean of Republicans blaming Dems for the housing crisis. Most of us realize it, but thanks for pointing it out again.

no, as usual, you get it backwards
but thats how i've come to expect things from a partisan fucking hack like you

And yet another useless trolling post adding nothing but wasted space we've come to expect from you.

 

[Iriemon]

Media Mum on Barney Frank's Fannie Mae Love Connection

Media Mum on Barney Frank's Fannie Mae Love Connection
Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive.

By Jeff Poor
Business & Media Institute
9/24/2008 4:00:57 PM

Are journalists playing favorites with some of the key political figures involved with regulatory oversight of U.S. financial markets?

MSNBC’s Chris Matthews launched several vitriolic attacks on the Republican Party on his Sept. 17, 2008, show, suggesting blame for Wall Street problems should be focused in a partisan way. However, he and other media have failed to thoroughly examine the Democratic side of the blame game.

Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive.


The media coverage of Frank’s coziness with Fannie Mae and his pro-Fannie Mae stances has been lacking. Of the eight appearances Frank made on the three broadcasts networks between Jan. 1, 2008, and Sept. 21, 2008, none of his comments dealt with the potential conflicts of interest. Only six of the appearances dealt with the economy in general and two of those appearances, including an April 6, 2008 appearance on CBS’s “60 Minutes” were about his opposition to a manned mission to Mars.

Frank has argued that family life “should be fair game for campaign discussion,” wrote the Associated Press on Sept. 2. The comment was in reference to GOP vice presidential nominee Sarah Palin and her pregnant daughter. “They’re the ones that made an issue of her family,” the Massachusetts Democrat said to the AP.

The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup.

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk. Frank’s office has been unresponsive to efforts by the Business & Media Institute to comment on these potential conflicts of interest.

While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises....

Interesting rumor report on Frank. What is the point, the fact he had a rumored affair 10 years ago with a Fannie exec is proof he was responsible for the financial mess?

Compelling.

 

[American Horse]

caveat emptor
the shares of fannie mae and freddie mac were investments. don't put at risk what you cannot afford to lose. just because it has been going up in value is not a guarantee that it will continue to do so. those investors invested in a lemon ... much as those who did not have an understanding of the financial market while investing heavily in that sector

and the chrysler bond holders are in a different category. they were lenders. who chose a risky investment rather than a safe one. the potential gain was greater, but so were the potential losses - as they are now finding out. return IS a function of risk

buyer beware. stupid people place bets on things they do not understand and then are often too dim to recognize why they subsequently walk away empty handed. darwin was right

Bubba, I think we actually agree on this, especially as caveat emptor applies.

But F&F were and still are GSEs and investors, especially older retired people who would never have invested in any ordinary common stock like GE or Exxon invested in F&F because of the implied US government guarantee of their value.

The bonds of Chrysler were recommended by bond rating agencies monitored by the US government, and as you say they are lenders expecting an interest on their loans in the form of bonds, if they stayed with them untill the agreed upon time had transpired.

But, here once again the government usurped their investment because almost all of the value of the company was claimed by the Govmt for the unions and the government leaving the bondholders mere pennies on the dollar.

This robbery of the bondholders could have been avoided if the Obama administration had treated them as equitably as it did the United Auto Workers, which gets far more money for the dollar; but there's the "rub" I was alluding to:

When the government is involved, look out for politics to be more binding than principles; Caveat Emptor!

 

[Annie]

Media Mum on Barney Frank's Fannie Mae Love Connection

Media Mum on Barney Frank's Fannie Mae Love Connection
Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive.

By Jeff Poor
Business & Media Institute
9/24/2008 4:00:57 PM

Are journalists playing favorites with some of the key political figures involved with regulatory oversight of U.S. financial markets?

MSNBC’s Chris Matthews launched several vitriolic attacks on the Republican Party on his Sept. 17, 2008, show, suggesting blame for Wall Street problems should be focused in a partisan way. However, he and other media have failed to thoroughly examine the Democratic side of the blame game.

Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive.


The media coverage of Frank’s coziness with Fannie Mae and his pro-Fannie Mae stances has been lacking. Of the eight appearances Frank made on the three broadcasts networks between Jan. 1, 2008, and Sept. 21, 2008, none of his comments dealt with the potential conflicts of interest. Only six of the appearances dealt with the economy in general and two of those appearances, including an April 6, 2008 appearance on CBS’s “60 Minutes” were about his opposition to a manned mission to Mars.

Frank has argued that family life “should be fair game for campaign discussion,” wrote the Associated Press on Sept. 2. The comment was in reference to GOP vice presidential nominee Sarah Palin and her pregnant daughter. “They’re the ones that made an issue of her family,” the Massachusetts Democrat said to the AP.

The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup.

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk. Frank’s office has been unresponsive to efforts by the Business & Media Institute to comment on these potential conflicts of interest.

While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises....

Interesting rumor report on Frank. What is the point, the fact he had a rumored affair 10 years ago with a Fannie exec is proof he was responsible for the financial mess?

Compelling.

Not a 'rumor' at all, Frank was proud of his relationship:

...The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup....

...While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises...

... “Herb Moses, who helped develop many of Fannie Mae’s affordable housing and home improvement lending programs, has left the mortgage industry,” Darryl Hicks wrote for NMN. “Mr. Moses - whose last day was Feb. 13 - spent the past seven years at Fannie Mae, most recently as director of housing initiatives. Over the course of time, he played an instrumental role in developing the company’s Title One and 203(k) home improvement lending programs.”

Hicks explained in his story how Moses orchestrated a collaborative effort between Fannie Mae and the Department of Agriculture.

“The Dartmouth grad also played a crucial role in brokering a relationship between Fannie Mae and the Department of Agriculture,” Hicks wrote. “This led to the creation of Fannie Mae’s rural housing program where the secondary marketing agency agreed to purchase small farm loans insured through the department.”

While Moses served at Fannie Mae and was Frank’s partner, Frank was actively working to support GSEs, according to several news outlets.

In 1991, Frank and former Rep. Joe Kennedy, D-Mass., lobbied for Fannie to soften rules on multi-family home mortgages although those dwellings showed a default rate twice that of single-family homes, according to the Nov. 22, 1991, Boston Globe....

there probably is no one individual more accountable for what occurred and still is regarding Fannie and Freddie than Frank.

 

[DiveCon]

You mean of Republicans blaming Dems for the housing crisis. Most of us realize it, but thanks for pointing it out again.

no, as usual, you get it backwards
but thats how i've come to expect things from a partisan fucking hack like you

And yet another useless trolling post adding nothing but wasted space we've come to expect from you.

you waste more bandwidth than i could ever hope to

 

[WillowTree]

Some of these same idiots are now blaming everyone but themselves.


http://www.youtube.com/watch?v=_MGT_cSi7Rs

And guess what? They're all wrapped up in ACORN too!

 

[jreeves]

Some of these same idiots are now blaming everyone but themselves.


http://www.youtube.com/watch?v=_MGT_cSi7Rs

And guess what? They're all wrapped up in ACORN too!

a lot of them sure are..

 

[Iriemon]

Media Mum on Barney Frank's Fannie Mae Love Connection

Interesting rumor report on Frank. What is the point, the fact he had a rumored affair 10 years ago with a Fannie exec is proof he was responsible for the financial mess?

Compelling.

Not a 'rumor' at all, Frank was proud of his relationship:

...The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup....

...While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises...

The "Reliable Source" column? "reportedly ended"? Sounds like a rumor to me. But so what, it was 10 years ago.

The argument is that if Frank had a relationship 10 years ago that made him responsible for F/F failing?

Compelling.

there probably is no one individual more accountable for what occurred and still is regarding Fannie and Freddie than Frank.

So I've heard conservatives claim.

Yet Frank was a minority representative until 2007. It was the Republicans who controlled the Congress and WH.

And yet it was Frank who joined in with Republican Oxley to pass a bipartisan bill in the House to regulated F/F in 2005, which according to Republican Oxley was shot down by the Bush administration, saying they got the one fingered salute.

And yet it was the Bush administration that had primary responsibility for F/F safety and oversight thru the OHFEO.

So pardon me if I don't agree with the conservative blame game.

 

[jeffrockit]

You mean of Republicans blaming Dems for the housing crisis. Most of us realize it, but thanks for pointing it out again.

Yea sure....

[ame]http://www.youtube.com/watch?v=RAuOEdttjZQ[/ame]

O'Reilly is an partisan ass. Funny he tries to blame Frank by shouting him down, when Frank joined the only bi-partisan bill that came up to regualte F/F which its Republican sponsor said Bush shot down.

But if O'Reilly wants to blame Frank for the crisis, let's got to a valid source of information and look at who was really responsible for F/F oversight.

The agency responsible for oversight of Fannie and Freddie is the Office of Federal Housing Enterprise Oversight (OFHEO):

OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

How is oversight of Fannie Mae and Freddie Mac divided between OFHEO and HUD? The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 created a regulatory oversight structure for the housing government-sponsored enterprises of Fannie Mae and Freddie Mac. The regulatory oversight was divided to address two functions – their financial safety and soundness and their affordable housing mission. The financial safety and soundness regulation is vested in the Office of Federal Housing Enterprise Oversight (OFHEO). OFHEO implements, monitors and enforces capital standards for Freddie Mac and Fannie Mae.

Fannie Mae and Freddie Mac's loan limits adjust every year in accordance with the results -- as determined by Office of Federal Housing Enterprise Oversight (OFHEO)
The Director of the OFHEO:

James B. Lockhart, III, is the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. ... He was nominated by President Bush to that position and confirmed by the Senate in June 2006.

The agency that oversees the OFHEO:

The U.S. Department of Housing and Urban Development (HUD) carries the oversight responsibilities for the housing mission of the GSEs. .

Office of Federal Housing Enterprise Oversight

Prior to Housing and Economic Recovery Act of 2008 (HERA), the Secretary of HUD was the mission regulator for the GSEs, with oversight authority to ensure that both GSEs complied with the public purposes set forth in their charters. HUD had general regulatory authority for oversight responsibilities, which included establishing housing goals; monitoring and enforcing compliance with housing goals; new program approval; collecting loan-level data from the GSEs on their mortgage purchase activities; making available to the public a database on non-proprietary GSE loan purchase data; and ensuring GSE compliance with fair lending requirements. An independent office of HUD, the Office of Federal Housing Enterprise Oversight (OFHEO) regulated the GSEs for safety and soundness by ensuring that they were adequately capitalized and operating their businesses in a financially sound manner

General Resources - Legistraight

Secretary of HUD: Nominated by President Bush, affirmed by the Senate:

Jan 21, 2001-Mar 31 04: Mel Martinez
Mar. 31, 2004 - April 18, 2008: Alphonso Jackson

Here's a report of the OFHEO director, appointed by president Bush, on June 30, 2006, doing his job of overseeing the safety and health of Fannie and Freddie.

Fannie Mae, Freddie Mac capital levels adequate: Ofheo - MarketWatch

Mortgage financiers Fannie Mae and Freddie Mac were deemed “adequately capitalized” as of March 31, 2008, according to a statement released by the Office of Federal Housing Enterprise Oversight today.

Fannie and Freddie Capital Levels Adequate

JAMES LOCKHART, DIR., OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT: They have risk out there. There's credit risk. There's market risk, but on the other hand, they have good controls in place and I think this money will be used very prudently.

Nightly Business Report . OFHEO Gives Fannie Mae & Freddie Mac a Much Needed Boost | PBS

McCain was saying the economy was fundamentally sound then too. No one foresaw the extent of the collapse of the real estate market.

As clearly seen in the video the OFHEO rep was treated as a liar by the Dems. He was continually told that nothing was wrong. It is hard to provide oversite when you are being told that you are in the wrong and that everything was fine. OFHEO can only report on the problems then it is up to the politicians to act on these reports. The Dem's in this video only act incredulous that Fannie and Freddie are being taken to task and that OFHEO is the fault.
When studying the video from a complete non-partisan stand point, the facts speak for themselves.

 

[driveby]

y'all do recognize this re-infusion of taxpayer dollars is to cover the bad investments Fannie Mae and Freddie Mac made ... government backed gambles, 'heads i win, tails you lose', is a better description. only a fraction of the GSE losses resulted from declines in their conforming loan portfolios
just another example where the profits are privatized and the losses were socialized

and your point is?

well the topic IS

Democrats on Freddie and Fannie

that it was not the fannie mae and freddie mac lending that got those organizations in trouble, such that the government had to bail it out
it was bad investments in derivatives, over-rated securitized mortgages and bad futures gambles that caused the GSEs to be upside down
just like freeing the government backed banks to do things outside the lending arena, but still having the backing of uncle sugar
profits were massive for the principles during the manufactured good times
and when the losses came, only the taxpayers took it on the chin
this will soon be recognized as the world's largest swindle. the shrub was too dumb to know it

i can't do dot-to-dot on this board. apologies for being unable to present in a medium more familiar to you

My advice to you would be to let the ape in your avatar post for you from now on, he can't be as bad at it .........

 

[Iriemon]

Yea sure....

http://www.youtube.com/watch?v=RAuOEdttjZQ

O'Reilly is an partisan ass. Funny he tries to blame Frank by shouting him down, when Frank joined the only bi-partisan bill that came up to regualte F/F which its Republican sponsor said Bush shot down.

But if O'Reilly wants to blame Frank for the crisis, let's got to a valid source of information and look at who was really responsible for F/F oversight.

The agency responsible for oversight of Fannie and Freddie is the Office of Federal Housing Enterprise Oversight (OFHEO):

OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

How is oversight of Fannie Mae and Freddie Mac divided between OFHEO and HUD? The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 created a regulatory oversight structure for the housing government-sponsored enterprises of Fannie Mae and Freddie Mac. The regulatory oversight was divided to address two functions – their financial safety and soundness and their affordable housing mission. The financial safety and soundness regulation is vested in the Office of Federal Housing Enterprise Oversight (OFHEO). OFHEO implements, monitors and enforces capital standards for Freddie Mac and Fannie Mae.

Fannie Mae and Freddie Mac's loan limits adjust every year in accordance with the results -- as determined by Office of Federal Housing Enterprise Oversight (OFHEO)
The Director of the OFHEO:

James B. Lockhart, III, is the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. ... He was nominated by President Bush to that position and confirmed by the Senate in June 2006.

The agency that oversees the OFHEO:

The U.S. Department of Housing and Urban Development (HUD) carries the oversight responsibilities for the housing mission of the GSEs. .

Office of Federal Housing Enterprise Oversight

Prior to Housing and Economic Recovery Act of 2008 (HERA), the Secretary of HUD was the mission regulator for the GSEs, with oversight authority to ensure that both GSEs complied with the public purposes set forth in their charters. HUD had general regulatory authority for oversight responsibilities, which included establishing housing goals; monitoring and enforcing compliance with housing goals; new program approval; collecting loan-level data from the GSEs on their mortgage purchase activities; making available to the public a database on non-proprietary GSE loan purchase data; and ensuring GSE compliance with fair lending requirements. An independent office of HUD, the Office of Federal Housing Enterprise Oversight (OFHEO) regulated the GSEs for safety and soundness by ensuring that they were adequately capitalized and operating their businesses in a financially sound manner

General Resources - Legistraight

Secretary of HUD: Nominated by President Bush, affirmed by the Senate:

Jan 21, 2001-Mar 31 04: Mel Martinez
Mar. 31, 2004 - April 18, 2008: Alphonso Jackson

Here's a report of the OFHEO director, appointed by president Bush, on June 30, 2006, doing his job of overseeing the safety and health of Fannie and Freddie.

Fannie Mae, Freddie Mac capital levels adequate: Ofheo - MarketWatch

Mortgage financiers Fannie Mae and Freddie Mac were deemed “adequately capitalized” as of March 31, 2008, according to a statement released by the Office of Federal Housing Enterprise Oversight today.

Fannie and Freddie Capital Levels Adequate

JAMES LOCKHART, DIR., OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT: They have risk out there. There's credit risk. There's market risk, but on the other hand, they have good controls in place and I think this money will be used very prudently.

Nightly Business Report . OFHEO Gives Fannie Mae & Freddie Mac a Much Needed Boost | PBS

McCain was saying the economy was fundamentally sound then too. No one foresaw the extent of the collapse of the real estate market.

As clearly seen in the video the OFHEO rep was treated as a liar by the Dems. He was continually told that nothing was wrong. It is hard to provide oversite when you are being told that you are in the wrong and that everything was fine. OFHEO can only report on the problems then it is up to the politicians to act on these reports. The Dem's in this video only act incredulous that Fannie and Freddie are being taken to task and that OFHEO is the fault.
When studying the video from a complete non-partisan stand point, the facts speak for themselves.

I never claimed the Dems were blameless. The point of the post was to show the hypocrisy on the part of Republicans who want to lay the blame solely on Democrats.

The video was from 2004 regarding accounting irregulaties. Little to do with overexposure to bad mortgages in 2007. And Bush's OFHEO was reporting F/F were fine right into 2008.

But back in 2005 it was Frank and the Dems and Oxley and the Republicans in the House passed the F/F regulatory bill. Had they not gotten one fingered salute from Bush better regulations might have avoided the losses.

 

[DiveCon]

O'Reilly is an partisan ass. Funny he tries to blame Frank by shouting him down, when Frank joined the only bi-partisan bill that came up to regualte F/F which its Republican sponsor said Bush shot down.

But if O'Reilly wants to blame Frank for the crisis, let's got to a valid source of information and look at who was really responsible for F/F oversight.

The agency responsible for oversight of Fannie and Freddie is the Office of Federal Housing Enterprise Oversight (OFHEO):

OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

How is oversight of Fannie Mae and Freddie Mac divided between OFHEO and HUD? The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 created a regulatory oversight structure for the housing government-sponsored enterprises of Fannie Mae and Freddie Mac. The regulatory oversight was divided to address two functions – their financial safety and soundness and their affordable housing mission. The financial safety and soundness regulation is vested in the Office of Federal Housing Enterprise Oversight (OFHEO). OFHEO implements, monitors and enforces capital standards for Freddie Mac and Fannie Mae.

Fannie Mae and Freddie Mac's loan limits adjust every year in accordance with the results -- as determined by Office of Federal Housing Enterprise Oversight (OFHEO)
The Director of the OFHEO:

James B. Lockhart, III, is the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. ... He was nominated by President Bush to that position and confirmed by the Senate in June 2006.

The agency that oversees the OFHEO:

The U.S. Department of Housing and Urban Development (HUD) carries the oversight responsibilities for the housing mission of the GSEs. .

Office of Federal Housing Enterprise Oversight

Prior to Housing and Economic Recovery Act of 2008 (HERA), the Secretary of HUD was the mission regulator for the GSEs, with oversight authority to ensure that both GSEs complied with the public purposes set forth in their charters. HUD had general regulatory authority for oversight responsibilities, which included establishing housing goals; monitoring and enforcing compliance with housing goals; new program approval; collecting loan-level data from the GSEs on their mortgage purchase activities; making available to the public a database on non-proprietary GSE loan purchase data; and ensuring GSE compliance with fair lending requirements. An independent office of HUD, the Office of Federal Housing Enterprise Oversight (OFHEO) regulated the GSEs for safety and soundness by ensuring that they were adequately capitalized and operating their businesses in a financially sound manner

General Resources - Legistraight

Secretary of HUD: Nominated by President Bush, affirmed by the Senate:

Jan 21, 2001-Mar 31 04: Mel Martinez
Mar. 31, 2004 - April 18, 2008: Alphonso Jackson

Here's a report of the OFHEO director, appointed by president Bush, on June 30, 2006, doing his job of overseeing the safety and health of Fannie and Freddie.

Fannie Mae, Freddie Mac capital levels adequate: Ofheo - MarketWatch

Mortgage financiers Fannie Mae and Freddie Mac were deemed “adequately capitalized” as of March 31, 2008, according to a statement released by the Office of Federal Housing Enterprise Oversight today.

Fannie and Freddie Capital Levels Adequate

JAMES LOCKHART, DIR., OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT: They have risk out there. There's credit risk. There's market risk, but on the other hand, they have good controls in place and I think this money will be used very prudently.

Nightly Business Report . OFHEO Gives Fannie Mae & Freddie Mac a Much Needed Boost | PBS

McCain was saying the economy was fundamentally sound then too. No one foresaw the extent of the collapse of the real estate market.

As clearly seen in the video the OFHEO rep was treated as a liar by the Dems. He was continually told that nothing was wrong. It is hard to provide oversite when you are being told that you are in the wrong and that everything was fine. OFHEO can only report on the problems then it is up to the politicians to act on these reports. The Dem's in this video only act incredulous that Fannie and Freddie are being taken to task and that OFHEO is the fault.
When studying the video from a complete non-partisan stand point, the facts speak for themselves.

I never claimed the Dems were blameless. The point of the post was to show the hypocrisy on the part of Republicans who want to lay the blame solely on Democrats.

The video was from 2004 regarding accounting irregulaties. Little to do with overexposure to bad mortgages in 2007. And Bush's OFHEO was reporting F/F were fine right into 2008.

But back in 2005 it was Frank and the Dems and Oxley and the Republicans in the House passed the F/F regulatory bill. Had they not gotten one fingered salute from Bush better regulations might have avoided the losses.

who the fuck is saying the GOP was blameless?
NO ONE
STRAWMAN ALERT!!!!!!!!!!!!!!!!!!!!

 

[Yurt]

you have to be careful reading iriemon's posts, he makes stuff about people in order to win some imaginary debate in his head

 

[Iriemon]

you have to be careful reading iriemon's posts, he makes stuff about people in order to win some imaginary debate in his head

Go whine to your mother, baby. Just a sore loser who got caught in a lie.

 

[Iriemon]

As clearly seen in the video the OFHEO rep was treated as a liar by the Dems. He was continually told that nothing was wrong. It is hard to provide oversite when you are being told that you are in the wrong and that everything was fine. OFHEO can only report on the problems then it is up to the politicians to act on these reports. The Dem's in this video only act incredulous that Fannie and Freddie are being taken to task and that OFHEO is the fault.
When studying the video from a complete non-partisan stand point, the facts speak for themselves.

I never claimed the Dems were blameless. The point of the post was to show the hypocrisy on the part of Republicans who want to lay the blame solely on Democrats.

The video was from 2004 regarding accounting irregulaties. Little to do with overexposure to bad mortgages in 2007. And Bush's OFHEO was reporting F/F were fine right into 2008.

But back in 2005 it was Frank and the Dems and Oxley and the Republicans in the House passed the F/F regulatory bill. Had they not gotten one fingered salute from Bush better regulations might have avoided the losses.

who the fuck is saying the GOP was blameless?
NO ONE
STRAWMAN ALERT!!!!!!!!!!!!!!!!!!!!

Read the OP. Blaming in on the Dems. No strawman at all.

 

[DiveCon]

I never claimed the Dems were blameless. The point of the post was to show the hypocrisy on the part of Republicans who want to lay the blame solely on Democrats.

The video was from 2004 regarding accounting irregulaties. Little to do with overexposure to bad mortgages in 2007. And Bush's OFHEO was reporting F/F were fine right into 2008.

But back in 2005 it was Frank and the Dems and Oxley and the Republicans in the House passed the F/F regulatory bill. Had they not gotten one fingered salute from Bush better regulations might have avoided the losses.

who the fuck is saying the GOP was blameless?
NO ONE
STRAWMAN ALERT!!!!!!!!!!!!!!!!!!!!

Read the OP. Blaming in on the Dems. No strawman at all.

so, pointing out the dems hypocrisy is giving the GOP a pass?
sorry, you FAIL again

 

[jreeves]

I never claimed the Dems were blameless. The point of the post was to show the hypocrisy on the part of Republicans who want to lay the blame solely on Democrats.

The video was from 2004 regarding accounting irregulaties. Little to do with overexposure to bad mortgages in 2007. And Bush's OFHEO was reporting F/F were fine right into 2008.

But back in 2005 it was Frank and the Dems and Oxley and the Republicans in the House passed the F/F regulatory bill. Had they not gotten one fingered salute from Bush better regulations might have avoided the losses.

who the fuck is saying the GOP was blameless?
NO ONE
STRAWMAN ALERT!!!!!!!!!!!!!!!!!!!!

Read the OP. Blaming in on the Dems. No strawman at all.

Where in the hell is there anything in the OP that lays blame solely on the Democrats?