Fannie Mae another bail out ????

[Listening]

​

I asked a clear and direct question.

You answered.

I am not responsible for you NOT understanding a simple question and answering it wrong

He just answered...cut the drama you moron.

 

[Jarhead]

I asked how many they wrote.

Your answer was a bunch

Sure all I said was a bunch and posted a link that said they were the nation’s largest mortgage buyer what exactly do you think I meant when I posted that?

I asked a direct question.

Your answer was a bunch.

Now you are trying to blame me for your answer?

wrong.

You asked how many they wrote and he posted a link showing you they do not write loans...they buy them.
Then he said....what is worse...wrting bad loans or buyuiong them.

It is YOU that has trouble comprehending....

Or you are outright lying.

 

[Uncensored2008]

For the life of me I can't understand why there is no congressional investigation into the corruption and collapse of Fannie Mae. Maybe both parties were involved and they agree not to open a can 'o worms. Barney Frank was banking chair(person) when Fannie went under and in an uncharacteristic burst of honesty he confessed that he had "ideological blinders on" when he told Americans that Fannie was solvent while it was on the verge of collapse and did collapse under his watch. Obama financial advisor Frank Raines was a Fannie CEO and it is alleged that he cooked the books to show a fake profit tied to his yearly bonus and walked away with 90 Million dollars for three years work.

Franklin Raines is no different than Bernie Madoff. He belongs in prison.

 

[Truthmatters]

So Fannie and Freddie capitalized on the fact that there were no proper regulations

Now tell us how F and F did that?

they endorsed loans (for lack of a better term) without reviewing them properly...knowing dam well that the way things were set up, the liklihood of bad loans existed.

They did not invest the time and the money into the personnel required to properly endorse the loans.

That is the result of a failed business model.

Example.....(true story whether you wnat to believe it or not)....

A man purchased a home for 900K in Brooklyn NY. It was a 100% paper deal.....all based on his attestyed to income.
Prior to closing it was discovered that the man did not have the cash to cover certain cloising costs.....ie: attorney fee, recodrding cost, title insurance.
He applied to the federal government for a grant and it was approved.
Such was written into the documentation....and is found on the HUD
FM dconsidered it a viable loan to be endorsed and purchased.
If it had been properly reviewed, it would have been denied.
The property DID go into foreclosuure within 1 year of closing.

Now tell us how responsible you think the peopel who actually wrote and resold these mortgages while LYING and labeling them AAA?

Do you care that F and F were lied to by the mortgage companies who sold them the mislabeled crap?

 

[bigrebnc1775]

I asked a clear and direct question.

You answered.

I am not responsible for you NOT understanding a simple question and answering it wrong

you would have an argument if I had just posted a bunch and left it at that. But I didn't, did I?now be honest you are talking about something freddie or fannie did not do, and I am talking about what they did do. You were actually being a litt deceptive in your question weren't you?

 

[Jarhead]

Sure all I said was a bunch and posted a link that said they were the nation’s largest mortgage buyer what exactly do you think I meant when I posted that?

I asked a direct question.

Your answer was a bunch.

Now you are trying to blame me for your answer?

I am not denying that I never said "a bunch" but what you are denying is what I posted that said they were the nation’s largest mortgage buyer. I'm talking about one thing and you are talking about something different. When I posted the link exactly what do you suggest I was talking about?

She is back pedaling.

She hates it when she is found to be naive on a subject she debates with such passion.

Give it up....she will spin you until you sign off. Not worth it.

 

[Uncensored2008]

99 percent Cacao chocolate is healthy for you. Tastes like you're eating clay though.

I love 90% - with a good red wine, Bordeaux or Chianti.

 

[whitehall]

It happened under your republican watch didnt it?


why didnt your party do something about it when they had all the control?

Fannie collapsed while democrats were in the majority in the House and the Senate. Barney Frank was the chair(person) of the powerful House Banking Committee which had oversight responsibility for Fannie Mae and he told Americans that Fannie was solvent. Meanwhile, what was the first issue democrats addressed when they gained the majority halfway into Bush's 2nd term? The economy? Nope, they wasted millions investigating steroid use in Baseball and ended up indicting a single Hall-of Famer. In a stunning burst of honesty Frank said he had "ideological blinders" on when he lied to America about Fannie's status. What does "ideological blinders" mean? The obvious answer is that Frank intended Fannie to collapse as the biggest October surprise in history during a republican presidency.

The president had both houses for years. He and they could have done anything they wanted wether Barney liked it or not.

That is not the question.


What would be the economic impact of letting freddy and fanny fail?


That is what is being suggested by the right in this thread.


If you think its the right decision you should be able to outline the impact of that decision.

I'm suggesting a real investigation into why Fannie failed. Let it all hang out. Ask whether or not the government forced banks to make bad loans and if the bad loans were hidden. Find out who appointed Frank Raines and how he managed to earn 90 Million in three years as Fannie's CEO. Find out what was behind Frank's "ideological blinders" and if he bears some (criminal?) responsibility for Fannie's collapse. Fix the danned freak of a partnership between the government and the private sector before pouring money back into it.

 

[bigrebnc1775]

I asked a direct question.

Your answer was a bunch.

Now you are trying to blame me for your answer?

I am not denying that I never said "a bunch" but what you are denying is what I posted that said they were the nation’s largest mortgage buyer. I'm talking about one thing and you are talking about something different. When I posted the link exactly what do you suggest I was talking about?

She is back pedaling.

She hates it when she is found to be naive on a subject she debates with such passion.

Give it up....she will spin you until you sign off. Not worth it.

You are making a valid point

 

[Truthmatters]

Sure all I said was a bunch and posted a link that said they were the nation’s largest mortgage buyer what exactly do you think I meant when I posted that?

I asked a direct question.

Your answer was a bunch.

Now you are trying to blame me for your answer?

wrong.

You asked how many they wrote and he posted a link showing you they do not write loans...they buy them.
Then he said....what is worse...wrting bad loans or buyuiong them.

It is YOU that has trouble comprehending....

Or you are outright lying.

How is testing your knowledge lying?


You wrote that " So Fannie and Freddie capitalized on the fact that there were no proper regulations"



I asked you how many mortgages they wrote because you implied they capitalized on the lack of rules.

Now please tell us what you think they did which capitalized on this lack of rules?


Do Fand F sell repackaged loans for a profit?

Do they buy them?


Who is it that profited off the lack of regulations?

 

[Truthmatters]

I am not denying that I never said "a bunch" but what you are denying is what I posted that said they were the nation’s largest mortgage buyer. I'm talking about one thing and you are talking about something different. When I posted the link exactly what do you suggest I was talking about?

She is back pedaling.

She hates it when she is found to be naive on a subject she debates with such passion.

Give it up....she will spin you until you sign off. Not worth it.

You are making a valid point

So you settle on lying about what happened?


I asked a direct question and for whatever reason you answered it with a wrong answer.


I am not backpeddling on anything.

Now will you answer How F and F profited off the lack of regulations?

 

[Jarhead]

So Fannie and Freddie capitalized on the fact that there were no proper regulations

Now tell us how F and F did that?

they endorsed loans (for lack of a better term) without reviewing them properly...knowing dam well that the way things were set up, the liklihood of bad loans existed.

They did not invest the time and the money into the personnel required to properly endorse the loans.

That is the result of a failed business model.

Example.....(true story whether you wnat to believe it or not)....

A man purchased a home for 900K in Brooklyn NY. It was a 100% paper deal.....all based on his attestyed to income.
Prior to closing it was discovered that the man did not have the cash to cover certain cloising costs.....ie: attorney fee, recodrding cost, title insurance.
He applied to the federal government for a grant and it was approved.
Such was written into the documentation....and is found on the HUD
FM dconsidered it a viable loan to be endorsed and purchased.
If it had been properly reviewed, it would have been denied.
The property DID go into foreclosuure within 1 year of closing.

Now tell us how responsible you think the peopel who actually wrote and resold these mortgages while LYING and labeling them AAA?

Do you care that F and F were lied to by the mortgage companies who sold them the mislabeled crap?

I was all for those banks failing. They were just as bad as the nborrowers who lied on their applications.

But as for FM and FM....they have no right to blame the banks for lying to them.
Their job was to review each loan and determine its validity....THAT IS WHY THEY ARE THERE....

Instead, they were actually taking those loans and not douing what they were supposed to do and selliung them for a profit.

It is like this TM....

If you bought a signed baseball card of Babe Ruth...and the man seeling it to you SWEARS it is legit.....so you ask him if you can take it to an authenticator to ensure it is legit...and he lets you....and the authenticator claims to have done his due diligence and says "yes, iut is authentic"...

And a week later you notice that the ink was smudged meaning it was not real....

The guy that sold it to you is partially at fault for being a scumbag...

But the Authenitcator?

Compl;etely at fault.

He was the one that you relied on.

Well...the bank is the one selling the card.

FM is the authenticator.

Get it?

 

[Truthmatters]

Fannie collapsed while democrats were in the majority in the House and the Senate. Barney Frank was the chair(person) of the powerful House Banking Committee which had oversight responsibility for Fannie Mae and he told Americans that Fannie was solvent. Meanwhile, what was the first issue democrats addressed when they gained the majority halfway into Bush's 2nd term? The economy? Nope, they wasted millions investigating steroid use in Baseball and ended up indicting a single Hall-of Famer. In a stunning burst of honesty Frank said he had "ideological blinders" on when he lied to America about Fannie's status. What does "ideological blinders" mean? The obvious answer is that Frank intended Fannie to collapse as the biggest October surprise in history during a republican presidency.

The president had both houses for years. He and they could have done anything they wanted wether Barney liked it or not.

That is not the question.


What would be the economic impact of letting freddy and fanny fail?


That is what is being suggested by the right in this thread.


If you think its the right decision you should be able to outline the impact of that decision.

I'm suggesting a real investigation into why Fannie failed. Let it all hang out. Ask whether or not the government forced banks to make bad loans and if the bad loans were hidden. Find out who appointed Frank Raines and how he managed to earn 90 Million in three years as Fannie's CEO. Find out what was behind Frank's "ideological blinders" and if he bears some (criminal?) responsibility for Fannie's collapse. Fix the danned freak of a partnership between the government and the private sector before pouring money back into it.

It has been done already, you just dont like the findings

 

[Oldstyle]

Why are you blathering on about a subject you obviously know very little about, TM?

 

[Jarhead]

She is back pedaling.

She hates it when she is found to be naive on a subject she debates with such passion.

Give it up....she will spin you until you sign off. Not worth it.

You are making a valid point

So you settle on lying about what happened?


I asked a direct question and for whatever reason you answered it with a wrong answer.


I am not backpeddling on anything.

Now will you answer How F and F profited off the lack of regulations?

I did already.

But I notice this is becomeing a lesson to you.

But you are not interested in learning.

SO why am I wasting my time?

Alas...I am at fault. I should never have even tried.

 

[bigrebnc1775]

She is back pedaling.

She hates it when she is found to be naive on a subject she debates with such passion.

Give it up....she will spin you until you sign off. Not worth it.

You are making a valid point

So you settle on lying about what happened?


I asked a direct question and for whatever reason you answered it with a wrong answer.


I am not backpeddling on anything.

Now will you answer How F and F profited off the lack of regulations?

Here since you passed this reply I made

you would have an argument if I had just posted a bunch and left it at that. But I didn't, did I?now be honest you are talking about something freddie or fannie did not do, and I am talking about what they did do. You were actually being a litt deceptive in your question weren't you?

 

[Listening]

Don't bail them out....let them fail and take the system down.

In the end, it would be great !!!

 

[Listening]

I did already.

But I notice this is becomeing a lesson to you.

But you are not interested in learning.

SO why am I wasting my time?

Alas...I am at fault. I should never have even tried.

You will learn.

 

[Uncensored2008]

Really ?

Why are we looking at a jobs bill (stimulus II) when Stimulus I was such a bust.

Since the Porkulus abysmally failed, it's obvious that we need to do it in a bigger way.

Obama logic....

Obama is either the biggest fuckup in American history, or a Manchurian candidate.

 

[Truthmatters]

You are making a valid point

So you settle on lying about what happened?


I asked a direct question and for whatever reason you answered it with a wrong answer.


I am not backpeddling on anything.

Now will you answer How F and F profited off the lack of regulations?

Here since you passed this reply I made

you would have an argument if I had just posted a bunch and left it at that. But I didn't, did I?now be honest you are talking about something freddie or fannie did not do, and I am talking about what they did do. You were actually being a litt deceptive in your question weren't you?

blaming me for your bad answer is just so very dishonest.

My question was crystal clear.

YOU are responsible for your answer to the question not me.

You can not accept that you made a mistake.

In your utter flailing to NOT accept your mistake you are trying to blame me.


Grow up and act like a decent person and accept YOUR mistake.

This is why people on the right often get the facts wrong, you are incapable of manning up when you are wrong.

Bad info in bad decision out