Out-frigging-rageous!!!!!! Fannie Mae $3 Billion fraud.

iamwhatiseem

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Aug 19, 2010
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You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK
 
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It's functioning EXACTLY as Obama and the Dems want it to.

Can someone please tell me the difference between Fannie and Freddie? And then I want a Follow up.
 
Members of congress generally don't have the intelligence to successfully run a business. That's why they are politicians. We know from experience that congress couldn't run a small post office without stealing stamps. Dan Rostenkowski went to jail over it. Frank Raines who is Obama's financial advisor was CEO of Fannie and during three years it is alleged that he cooked the books to show a fake profit tied to his bonus. He walked away with 90 Million dollars. Barney Frank was in charge of Fannie while he was chairperson of the House Banking committee and he told Americans that Fannie was doing fine while it was on the verge of collapse. Either Frank is stupid or he is a crook.
 
Members of congress generally don't have the intelligence to successfully run a business. That's why they are politicians. We know from experience that congress couldn't run a small post office without stealing stamps. Dan Rostenkowski went to jail over it. Frank Raines who is Obama's financial advisor was CEO of Fannie and during three years it is alleged that he cooked the books to show a fake profit tied to his bonus. He walked away with 90 Million dollars. Barney Frank was in charge of Fannie while he was chairperson of the House Banking committee and he told Americans that Fannie was doing fine while it was on the verge of collapse. Either Frank is stupid or he is a crook.

Absolutely.
Again I say - history books of the future will have PLENTY to write about concerning this collapse.
You take the greatest robbery in the history of the world during the 90's and 2000's of everyone's 401ks. Then Fannie and Freddie...now (as I have in another thread) we learn today that college expenses have went up 439% since the government started guaranteeing tuition payment with our tax dollars.
The corruption is simply amazing. But...what's on TV tonight?
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Yup! Outrageous.

String the bastards up.

“If there had been a criminal referral, Farkas would have gone to jail in 2002,” William Black, who served as deputy director of the Federal Savings and Loan Insurance Corp. during the S&L crisis of the 1980s, said in an interview.

Himmmm...where were the regulators under the BUSH II administration?

Asleep at the helm



Seven more years passed before federal regulators

Once the OBAMA adminsitration came into office, the villans were taken to task



shut down Ocala, Florida-based Taylor Bean and prosecutors charged Farkas with orchestrating the $3 billion scam.

Ya see...this is what happens when you put people in charge of government who HATE governing.
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Yup! Outrageous.

String the bastards up.

“If there had been a criminal referral, Farkas would have gone to jail in 2002,” William Black, who served as deputy director of the Federal Savings and Loan Insurance Corp. during the S&L crisis of the 1980s, said in an interview.

Himmmm...where were the regulators under the BUSH II administration?

Asleep at the helm



Seven more years passed before federal regulators

Once the OBAMA adminsitration came into office, the villans were taken to task



shut down Ocala, Florida-based Taylor Bean and prosecutors charged Farkas with orchestrating the $3 billion scam.

Ya see...this is what happens when you put people in charge of government who HATE governing.


I think maybe you are kidding...you did read where Fannie and Freddie officials DID NOT report to the authorities.
 
Barney Frank and Chris Dodd should be arrested. How they're not wearing orange jumpsuits is a bizarre mystery to us all. They committed terrible crimes against the American People. And they got away with it. What a tragedy.
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Wait a min, are you a right wing hitter ? Evey one knows greedy republicans led by George Bush caused Fannie.
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Wait a min, are you a right wing hitter ? Evey one knows greedy republicans led by George Bush caused Fannie.

now I really hope you are kidding.
 
Barney Frank and Chris Dodd should be arrested. How they're not wearing orange jumpsuits is a bizarre mystery to us all. They committed terrible crimes against the American People. And they got away with it. What a tragedy.

Why stop with Frank and Dodd? There's guilt aplenty - on both sides of the aisle. Personally, I'd like to see a whole bunch of them investigated.... not just for corruption, but we should change the treason law to include this sort of behavior.
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Wait a min, are you a right wing hitter ? Evey one knows greedy republicans led by George Bush caused Fannie.

now I really hope you are kidding.

Yes. I am.
 
Barney Frank and Chris Dodd should be arrested. How they're not wearing orange jumpsuits is a bizarre mystery to us all. They committed terrible crimes against the American People. And they got away with it. What a tragedy.

Please don't forget INDYBANK Schumer. He was the one selected to pull the bottom card from the house of cards. He should be in prison as well. Also Pelosi, she should also be in prison just for being a disgusting greedy bitch.
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Iam...if this is F&F , think a minute on how much medicare fraud there is, with 700 Billion a YEAR sloshing thru that system.....

this is taxi cab tip money...:lol:
 
0.5 billion a year is not going to bring down the world economy.

Republicans lost 9 billion in Iraq.

Audit: U.S. lost track of $9 billion in Iraq funds - CNN

Audit: U.S. lost track of $9 billion in Iraq funds
January 30, 2005

-----------------------------

It took Republicans moving the mortgage market to a Wall Street they just deregulated to do that. For Christ sakes people, it was only a few years ago. What the hell is wrong with you?
 
Just $3Bill?

Heck.. There's more than ONE fraud.. How about Fannie/Freddy being one of the widely held stocks selling at $60/share in 2008 -- now selling at $0.35...? OR according to multiple sources, the GSEs that Barney said "wouldn't cost the taxpayers a nickel" are gonna cost over $150Bill..??

Barney has replaced Teddy Kennedy as my "most hated" politician.. Thieving liar...

And WTF RDean is this 0.5Bil/year crap? Did you learn that trick from the OMB? Then the money lost in Iraq is only $0.75Bil/yr!
You like that trick eh???
 
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Just $3Bill?

Heck.. There's more than ONE fraud.. How about Fannie/Freddy being one of the widely held stocks selling at $60/share in 2008 -- now selling at $0.35...? OR according to multiple sources, the GSEs that Barney said "wouldn't cost the taxpayers a nickel" are gonna cost over $150Bill..??

Barney has replaced Teddy Kennedy as my "most hated" politician.. Thieving liar...

And WTF RDean is this 0.5Bil/year crap? Did you learn that trick from the OMB? Then the money lost in Iraq is only $0.75Bil/yr!
You like that trick eh???

three billion over six years.

3 divided by 6 equals 0.5 or one half or 1/2
 
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????

Not only did Fannie not do anything about it - they did not inform authorities either. Probably because they didn't want to upset the fantastic corrupt arrangement they have with the government.

Man - this is an outstanding example of why government does NOT belong in private enterprise and the results of what happens when they do.

$3,000,000,000 that we will pay for since Fannie is 100% backed by you and me thanks to our government.

How Fannie >>> LINK

Enron?
 
Funny how we can't investigate Goldman Sachs, since they made it impossible when they wrote the TARP Bill for Georgie.

oh so TARP wasn't an Obama construct? glad to hear it....:lol:

I'm glad you're glad.

Former President George Bush told NBC News in an interview airing Monday that he believes TARP funds used to bail out Wall Street banks in 2008 "saved the economy" and that he would “absolutely” do it again today, if presented with the same problem.

News Headlines
 

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