Did Newt Gingrich cause the financial meltdown?

Discussion in 'Economy' started by Ravi, Nov 30, 2011.

  1. Ravi
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    Ravi Diamond Member

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    Given that a lot of rightwingloons blame the financial meltdown on Fannie and Freddie, and given that Newt was a lobbyist/historian/adviser for Fannie and Freddie, it makes logical sense that his "advice" led to the financial collapse.

    What was the advice he gave them?

    :eusa_eh:
     
  2. richstacy
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    richstacy Active Member

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    His advice was the exact opposite of what they did. He advised that it would lead to trouble to encourage those who could not qualify for loans to borrow money and become "home owners." That of course was what was encouraged by Barney Frank, Chris Dodd and all the other Democrats. and THAT is precisely what led to the toxic sub-prime mortgages with the crony bankers bundling them into shaky "derivatives." Then the inevitable happened when the borrowers could not pay and walked away from their rotten mortgages -- the bubble burst, and here we are.

    Trying to blame this on Newt is the height of BS. No one is dumb enough to buy that.

     
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    Last edited: Nov 30, 2011
  3. Trajan
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    Trajan conscientia mille testes

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    how much blame on a scale of 100 would you assign F&F for the housing bubble? 10, 30, 50? 75? 90?

    :eusa_eh:
     
  4. Zander
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    Zander Platinum Member

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    That's quite a stretch.......

    [​IMG]
     
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  5. Trajan
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    Trajan conscientia mille testes

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    shut up...stalinist!!!!
     
  6. Baruch Menachem
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    Baruch Menachem '

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    Interesting question. We will be hearing it a lot over the next four or five months.


    If he was the cassandra in the board room, don't expect him to get any credit.
     
  7. Maple
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    Maple Senior Member

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    He did get paid for this so-called advise, 1.6 million, advise for what?? He is not making that very clear.
     
  8. Maple
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    Maple Senior Member

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    Listen to Laura Ingrams interview with Newt on this subject, I don't think he caused it, but he sure did not stop it either, it sounds to me like he was a lobbyist telling others which Republican congressmen to talk to to promote Freddie and Fannie, that's a lobbyist to me but through the back door. I am suspicious and so is Laura.

    Newt Gingrich | Freddie Mac | Fannie Mae | The Daily Caller
     
  9. Ravi
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    Ravi Diamond Member

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    I think it would be interesting to see any written advice he gave them and question anyone that was receiving advice as to what he was saying.

    I think richstacy pulled what she wrote out of her ass. :lol:
     
  10. Ravi
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    Ravi Diamond Member

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    He isn't trumpeting his so called advice all over the media....doesn't smell too good.
     

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