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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....
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
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...
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.
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....
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...
Yeah but this is only what we KNOW.
However, you bet - without addressing Welfare Fraud and Social Security fraud, Student Loan fraud...let's see...what am I missing?
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....
No, it wasn't. It was signed into law under then president Bush on Oct 3, 2008. Part of that was a stipulation that there would be no audits, no accountability for these greedy fucks.
What did Obama do when he came in? Made Wall Street reform a priority.
But what can I expect from a Conservative and their revisionist history.
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...
Yeah but this is only what we KNOW.
However, you bet - without addressing Welfare Fraud and Social Security fraud, Student Loan fraud...let's see...what am I missing?
Subsidies for oil companies?
oh so TARP wasn't an Obama construct? glad to hear it....
No, it wasn't. It was signed into law under then president Bush on Oct 3, 2008. Part of that was a stipulation that there would be no audits, no accountability for these greedy fucks.
What did Obama do when he came in? Made Wall Street reform a priority.
But what can I expect from a Conservative and their revisionist history.
He tried. Republicans have stood in his way every step of the way. AND those "Blue Dawg" Democrats who are really Republicans dressed as Democrats.
In fact, Republicans hate the black guy so much, not only do they compare him to Hitler and Stalin, they are willing to let the world economy have a meltdown if they think it gets him out of office. They don't care who they hurt.
The only question, will their corporate masters tell them to raise the debt ceiling. Corporations are making money hand over fist. The LAST thing they want is a world wide depression. The Republican Leadership are loons. They don't care.
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.
Later that same day, the new owner -- an investment group owned by another real estate agent -- resold the home to a buyer who had been lined up before the short sale transaction went through. The final sale price: $132,500, netting the seller a cool $30,000 -- a profit that should have gone to Regions. In this latest twist on short sale fraud, scammers have found a way to rip off mortgage lenders by tens of thousands of dollars -- sometimes in a matter of hours.
The scam artists, usually real estate agents, will secure a legitimate bid on a home, one where the borrower owes far more on the mortgage than the home is worth. Then they arrange for an accomplice investor to make a lower offer on the home. The agent then presents the lower bid to the lender and asks them to forgive any remaining balance owed -- without disclosing that there was a higher bid made on the home. Once the short sale is approved, the scammer then sells the home to the higher bidder, often on the same day.
"These same-day resales are on average nearly $50,000 greater than the lender agreed upon short-sale price," said Tim Grace, senior vice president of product management and analytics at CoreLogic (CLGX), a financial analytics company based in Santa Ana, Calif. Such transactions are expected to cost lenders more than $375 million this year, up more than 20% from last year, according to CoreLogic.
The anatomy of a scam
Foreclosure filings plunged 29% compared with the same period a year ago and were down 25% from the last six months of 2010, according to the latest report from RealtyTrac, an online marketer of foreclosed properties. Through June 30, 1.2 million U.S. homeowners -- or one in every 111 households -- received a foreclosure filing, according to RealtyTrac. The deceleration in defaults continued as the year wore on with second quarter filings -- at 608,235 households -- marking the lowest quarterly total since the end of 2007, when the mortgage meltdown was still in its youth.
RealtyTrac's CEO, James Saccacio, sounded a sour note, however, contending that the drop-off in filings can be traced not to economic improvement or a pick-up in the housing market, but to processing delays brought on by the robo-signing scandal in which it was discovered that bank employees were signing foreclosure documents without following proper protocols. "[That's what is] pushing foreclosures further and further out -- we estimate that as many as 1 million foreclosure actions that should have taken place in 2011 will now happen in 2012, or perhaps even later," Saccacio said.
As a result, it will only prolong the housing slump, he said. "This casts an ominous shadow over the housing market where recovery is unlikely to happen until the current and forthcoming inventory of distressed properties can be whittled down to a manageable number," said Saccacio.
Evidence of delays
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
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.
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????
I can name one private business that did that and didn't do anything about it.
Fannie Mae.
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.
Fannie Mae WAS a private business, dude.
You could buy stocks in it and everything.
Maybe you need to go read a book?
You tell me what private business would have allowed $3,000,000,000 in losses over 6 years AND NOT DO ANYTHING ABOUT IT???????
I can name one private business that did that and didn't do anything about it.
Fannie Mae.
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.
Fannie Mae WAS a private business, dude.
You could buy stocks in it and everything.
Maybe you need to go read a book?
Isn't Franklin Raines one of Obama's close advisors?
Documents reviewed by The New York Times indicate that taxpayers have paid $24.2 million to law firms defending three of Fannies former top executives: Franklin D. Raines, its former chief executive; Timothy Howard, its former chief financial officer; and Leanne Spencer, the former controller.
Mr. Raines retired in December 2004 and Mr. Howard resigned at the same time. Ms. Spencer left her position as controller in early 2005. The following year, the Office of Federal Housing Enterprise Oversight, then the companys regulator, published an in-depth report on the companys accounting practices, accusing Fannies top executives of taking actions to manipulate profits and generate $115 million in improper bonuses.
The office sued Mr. Raines, Mr. Howard and Ms. Spencer in 2006, seeking $100 million in fines and $115 million in restitution. In 2008, the three former executives settled with the regulator, returning $31.4 million in compensation. Without admitting or denying the regulators allegations, Mr. Raines paid $24.7 million and Mr. Howard paid $6.4 million; Ms. Spencer returned $275,000.
http://www.nytimes.com/2011/01/24/business/24fees.html?_r=1&ref=franklindraines
I can name one private business that did that and didn't do anything about it.
Fannie Mae.
Fannie Mae WAS a private business, dude.
You could buy stocks in it and everything.
Maybe you need to go read a book?
Isn't Franklin Raines one of Obama's close advisors?
Documents reviewed by The New York Times indicate that taxpayers have paid $24.2 million to law firms defending three of Fannies former top executives: Franklin D. Raines, its former chief executive; Timothy Howard, its former chief financial officer; and Leanne Spencer, the former controller.
Mr. Raines retired in December 2004 and Mr. Howard resigned at the same time. Ms. Spencer left her position as controller in early 2005. The following year, the Office of Federal Housing Enterprise Oversight, then the companys regulator, published an in-depth report on the companys accounting practices, accusing Fannies top executives of taking actions to manipulate profits and generate $115 million in improper bonuses.
The office sued Mr. Raines, Mr. Howard and Ms. Spencer in 2006, seeking $100 million in fines and $115 million in restitution. In 2008, the three former executives settled with the regulator, returning $31.4 million in compensation. Without admitting or denying the regulators allegations, Mr. Raines paid $24.7 million and Mr. Howard paid $6.4 million; Ms. Spencer returned $275,000.
http://www.nytimes.com/2011/01/24/business/24fees.html?_r=1&ref=franklindraines
Why "yes" Raines is a very good friend of Obama's and so is James Johnson.
Two Barack Obama advisers, Franklin Raines and James Johnson, received preferential home loans as industry favors, apparently in deference to their executive positions heading Fannie Mae.
Raines and Johnson, as "friends of Angelo Mozilo," the chief executive of Countrywide Financial Corp. the now bankrupt high-flying loan originator in the sub-prime mortgage debacle were funneled millions of dollars for personal home loans. Mozilo himself made exceptions from Countrywide policy to provide the two Fannie Mae CEO's "sweetheart deals."
Read more: Rules 'bent' to provide Obama advisers loans Rules 'bent' to provide Obama advisers loans
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.
Himmmm...where were the regulators under the BUSH II administration?
Asleep at the helm
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???????
