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I have been a member of the GOP for more than 35 years. I have no use for homophobes, sexists, or racists like bigrebnc or those who support him. They are all smeared with same anti-American bs they push in the name of Americanism. We have managed to keep the wacks like bigreb out of any influence here for more than twenty years, and that will continue. We will take his vote, just not his lip. What a hoot is that he calls his activist reactionary agenda "conservative."
Hors shit starkey and everybody here knows it. If anything you are a RINO.
Wrong. The housing market collapse was clinton, frank, and dodds doing. Bush and some republicans wanted to fix it, but frank and dodd said there was no problem, idiots. Fanni mqe and freddie mack was carters brainchild and clintons bastard children!!!!One, Bush did not want Freddy and Fanny regulated (no primary evidence exists that even suggests that).
Two, the recession is everybody's fault, all Americans and both parties are guilty of that.
Three, the Tea Party helped to take the House and the Tea Party "lost" the Senate for the Republicans.
Let's stay in reality, bigrebnc.
Wrong. The housing market collapse was clinton, frank, and dodds doing. Bush and some republicans wanted to fix it, but frank and dodd said there was no problem, idiots. Fanni mqe and freddie mack was carters brainchild and clintons bastard children!!!!One, Bush did not want Freddy and Fanny regulated (no primary evidence exists that even suggests that).
Two, the recession is everybody's fault, all Americans and both parties are guilty of that.
Three, the Tea Party helped to take the House and the Tea Party "lost" the Senate for the Republicans.
Let's stay in reality, bigrebnc.
Credible sources, bigreb, please. The fact is that the majority in Congress and two Presidents danced happily along with Freddy and Fanny. There is no way to dispute that, period. Now that the House is again GOP, it owns the mess.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003
WASHINGTON, Sept. 10 The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates...
...New Agency Proposed to Oversee Freddie Mac and Fannie Mae
Published: September 11, 2003
(Page 2 of 3)
The proposal is the opening act in one of the biggest and most significant lobbying battles of the Congressional session.
After the hearing, Representative Michael G. Oxley, chairman of the Financial Services Committee, and Senator Richard Shelby, chairman of the Senate Banking Committee, announced their intention to draft legislation based on the administration's proposal. Industry executives said Congress could complete action on legislation before leaving for recess in the fall.
''The current regulator does not have the tools, or the mandate, to adequately regulate these enterprises,'' Mr. Oxley said at the hearing. ''We have seen in recent months that mismanagement and questionable accounting practices went largely unnoticed by the Office of Federal Housing Enterprise Oversight,'' the independent agency that now regulates the companies.
''These irregularities, which have been going on for several years, should have been detected earlier by the regulator,'' he added.
The Office of Federal Housing Enterprise Oversight, which is part of the Department of Housing and Urban Development, was created by Congress in 1992 after the bailout of the savings and loan industry and concerns about regulation of Fannie Mae and Freddie Mac, which buy mortgages from lenders and repackage them as securities or hold them in their own portfolios...
...Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.
You have to admit, they didn't do enough!Credible sources, bigreb, please. The fact is that the majority in Congress and two Presidents danced happily along with Freddy and Fanny. There is no way to dispute that, period. Now that the House is again GOP, it owns the mess.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae - New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003
WASHINGTON, Sept. 10 The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates...
...New Agency Proposed to Oversee Freddie Mac and Fannie Mae
Published: September 11, 2003
(Page 2 of 3)
The proposal is the opening act in one of the biggest and most significant lobbying battles of the Congressional session.
After the hearing, Representative Michael G. Oxley, chairman of the Financial Services Committee, and Senator Richard Shelby, chairman of the Senate Banking Committee, announced their intention to draft legislation based on the administration's proposal. Industry executives said Congress could complete action on legislation before leaving for recess in the fall.
''The current regulator does not have the tools, or the mandate, to adequately regulate these enterprises,'' Mr. Oxley said at the hearing. ''We have seen in recent months that mismanagement and questionable accounting practices went largely unnoticed by the Office of Federal Housing Enterprise Oversight,'' the independent agency that now regulates the companies.
''These irregularities, which have been going on for several years, should have been detected earlier by the regulator,'' he added.
The Office of Federal Housing Enterprise Oversight, which is part of the Department of Housing and Urban Development, was created by Congress in 1992 after the bailout of the savings and loan industry and concerns about regulation of Fannie Mae and Freddie Mac, which buy mortgages from lenders and repackage them as securities or hold them in their own portfolios...
...Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.
For little Jakey, who was seriously hoping 'all credible sources' had removed primary articles by now.
I know, chalk up another disappointment!Looks like he's folded on the Bush tax cuts. No spine.
people who think they are going to get something new and different with Republicans in office is my guess.It's what Government does...Gives away boubles and trinquets to silence the masses with their own money no less. This will end soon. Count on it.
you're an idiot. The Tea Party types like you cost the GOP the US Senate.
fuck off asshole
Who cost Obama the most lost seats in Congress since most people in this country were alive?
You have to admit, they didn't do enough!Credible sources, bigreb, please. The fact is that the majority in Congress and two Presidents danced happily along with Freddy and Fanny. There is no way to dispute that, period. Now that the House is again GOP, it owns the mess.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae - New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003
WASHINGTON, Sept. 10 The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates...
...New Agency Proposed to Oversee Freddie Mac and Fannie Mae
Published: September 11, 2003
(Page 2 of 3)
The proposal is the opening act in one of the biggest and most significant lobbying battles of the Congressional session.
After the hearing, Representative Michael G. Oxley, chairman of the Financial Services Committee, and Senator Richard Shelby, chairman of the Senate Banking Committee, announced their intention to draft legislation based on the administration's proposal. Industry executives said Congress could complete action on legislation before leaving for recess in the fall.
''The current regulator does not have the tools, or the mandate, to adequately regulate these enterprises,'' Mr. Oxley said at the hearing. ''We have seen in recent months that mismanagement and questionable accounting practices went largely unnoticed by the Office of Federal Housing Enterprise Oversight,'' the independent agency that now regulates the companies.
''These irregularities, which have been going on for several years, should have been detected earlier by the regulator,'' he added.
The Office of Federal Housing Enterprise Oversight, which is part of the Department of Housing and Urban Development, was created by Congress in 1992 after the bailout of the savings and loan industry and concerns about regulation of Fannie Mae and Freddie Mac, which buy mortgages from lenders and repackage them as securities or hold them in their own portfolios...
...Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
Representative Melvin L. Watt, Democrat of North Carolina, agreed.
''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.
For little Jakey, who was seriously hoping 'all credible sources' had removed primary articles by now.
These two entities have some major problems! Still.
Bawaahahahahah, they better ask for a refund! I don't see anything saved and whole lot to prove!It's what Government does...Gives away boubles and trinquets to silence the masses with their own money no less. This will end soon. Count on it.
you're an idiot. The Tea Party types like you cost the GOP the US Senate.
fuck off asshole
LOLWhat a fuckin' Fallacy!
The Tea Party SAVED the GOP.
And the Blue-Blood Statist entrenched Repubicans are on notice and on Probation. There will be more seats in '12 for the people to take back.
WHY do you belive the shit you are fed Dantoid? Can't think for yourself?
You remain woefully ignorant.
No, what pisses me off are there are no more REAL Republicans! they have all morphed into something that would make the real Republicans run for the hills!It's what Government does...Gives away boubles and trinquets to silence the masses with their own money no less. This will end soon. Count on it.
you're an idiot. The Tea Party types like you cost the GOP the US Senate.
fuck off asshole
Why didn't it cost us the house? Two years ago this victory was just a dream and the GOP was supposed to be dead. Without the tea party and it would have been true. And thats what pisses you off.
ahahahaha, snap!Obama is not doing all he can. He has folded on the Bush tax cuts.
Were you expecting him to do different? Maybe if he hadn't seen such a turn in power in the house...the likes of which we haven't seen in over 70 years. But let's be honest... Every phony folds....sooner or later their bullshit catches up to them and they fold like a lawn chair.
They should have started in the Bush administration, you waited to long!Obama is not doing all he can. He has folded on the Bush tax cuts.
The republicans aren't giving him ANYTHING. So, what is he supposed to do? He has to try to be the bigger person because obviously NONE of the republicans are willing to cross the aisle to do anything that their voters and their strict ideology won't allow. They are fucking lame. Obama is dealing with a bunch of children who have their arms crossed and are stamping there feet in defiance of any change whatsoever. Everyone blames Obama for the job numbers- we just had the biggest economic collapse since the Great Depression, and because Obama hasn't become Jesus and come down and fixed all of it in two fucking years, you assholes give him no credit, you actually discredit him, you call him this and that... you are the most unpatriotic bunch I've ever seen. You're not even giving, nor did you ever give our President a chance before you passed judgement on him and put him in a box as being a 'socialist' and this and that. You're all fucking uber-right wing assholes who cling to an ideology so hard, that you've forgotten what we are all here to do: to make this country a better place. All you care about is getting things your way, whether it will actually do any good or not. FUCKING PATHETIC!!!!!!!
You can bet your ass that the republicans will not cross the isles. It will be a long time before they ever think of crossing the American people. But anyway you have had your day in the sun of full blown foolish government. Now we have got to come in a fixed the shit of wasteful government spending. Whats lame about that?
Please respect the office of the Presidency.Obama is a despicable fraud. To continue expecting that sleaze bag to represent Americans is irrational. Watch this
Respect My Authoritah - The Daily Show with Jon Stewart - 6/15/2010 - Video Clip | Comedy Central
It is hostile territory, I wouldn't go, either!Obama has travelled all through the world, visiting all the Muslim countries, and Europe, and well, everywhere he feels he needs to make changes.
But he has yet to visit our Southern border, which is under a daily invasion of armed cartel members from a foreign nation. Shameful.
If anyone had battled with him! There were a few lowly voices...Obama doesn't have the political capital to fold or not fold anymore. The decision was solely the Democrat delegation in the House and Senate.
veto? The Democrats can and should battle the President on this one. It's what they've always done. If the GOP would have battled their own President we would not be in the mess we are.
We have to compete, but we don't have to give the farm away!Thats right.
Oh by the way while the media slept and did not give any news coverage of his speechs in Mumbai, India. Other's weren't a sleep
Some key points to what obama said
Barack Obama showed very clearly how he feels about globalism when he made the following statement during his speech in Mumbai
"This will keep America on its toes. America is going to have to compete. There is going to be a tug-of-war within the US between those who see globalization as a threat and those who accept we live in a open integrated world, which has challenges and opportunities."
Obama acknowledges decline of US dominance - The Times of India
obama is not going to help the American economy. He forcing the American people into a one world government.
Now you can see why he dos not want to close the border
You are an amazing moron, bigrebnc. Yes, we are going to have to compete in the global economy. What else are we going to do? Your propaganda is beyond amazingly stupid.
The people were making money on all those loans, 60% of the people who qualified for conventional loans were sold the junk because it was profitable for those giving the loans! It is shameful what was done!1. you are lyingOne, Bush did not want Freddy and Fanny regulated (no primary evidence exists that even suggests that).
Two, the recession is everybody's fault, all Americans and both parties are guilty of that.
Three, the Tea Party helped to take the House and the Tea Party "lost" the Senate for the Republicans.
Let's stay in reality, bigrebnc.
2. is those who were allowed to get a loan and those who allowed them the get a loan and the democrats for forcing banks to givce loans to people who could not repay the loan.
3. Withouit the teaparty the GOP would not have had a snowballs chance in hell of winning anything. Wait until 2012 you ain't seen nothing yet junior.
No, Bush acted like he wanted to fix it, but he usually got everything he wanted during his tenure and to me,he didn't want this enough or he would have pushed harder for change!Wrong. The housing market collapse was clinton, frank, and dodds doing. Bush and some republicans wanted to fix it, but frank and dodd said there was no problem, idiots. Fanni mqe and freddie mack was carters brainchild and clintons bastard children!!!!One, Bush did not want Freddy and Fanny regulated (no primary evidence exists that even suggests that).
Two, the recession is everybody's fault, all Americans and both parties are guilty of that.
Three, the Tea Party helped to take the House and the Tea Party "lost" the Senate for the Republicans.
Let's stay in reality, bigrebnc.
Who is Barry?... all he can do, which appears to be practically nothing. Way to go Barry.
the banks were forced to make those loans or face fines imposed by the federal go0vernment in accordence with the CRA.The people were making money on all those loans, 60% of the people who qualified for conventional loans were sold the junk because it was profitable for those giving the loans! It is shameful what was done!1. you are lyingOne, Bush did not want Freddy and Fanny regulated (no primary evidence exists that even suggests that).
Two, the recession is everybody's fault, all Americans and both parties are guilty of that.
Three, the Tea Party helped to take the House and the Tea Party "lost" the Senate for the Republicans.
Let's stay in reality, bigrebnc.
2. is those who were allowed to get a loan and those who allowed them the get a loan and the democrats for forcing banks to givce loans to people who could not repay the loan.
3. Withouit the teaparty the GOP would not have had a snowballs chance in hell of winning anything. Wait until 2012 you ain't seen nothing yet junior.
