Worried the GOP finish the job started under Bush and gut the rest of the country.

[rdean]

Under Bush and the Republicans, we saw:

Massive redistribution of wealth from the Middle Class to the top 1% ---> ongoing.

Massive movement of jobs from the Middle Class to other countries.

Slashing education in state after Republican controlled state ---> ongoing.

The unwillingness to invest in American infrastructure ---> ongoing.

Even the threat of not helping tornado, hurricane and earthquake disaster victims.

The willingness to start foreign wars to create even more business opportunities.

Hoping the auto industry goes into bankruptcy.

In fact, the way Republicans have piled on the debt, it reminds me of Bain capital preparing a company for sale to maximize profits. Is that it? Is that the goal? Sell off what is left of the country until only a shell is left?

Unless Republicans can come up with an alternative scenario, this is how things seem to be going under their policies. If they get back into office, will they finish the job they started under Bush?

Bush was an Idiot, He is not the GOP. You are an Idiot as well. As Usual.

Oh, get real. Bush was totally a Republican. He was elected governor as a Republican. He was elected president twice as a Republican. His family is Republican to the core.

And his policies were totally Republican. From tax cuts going mostly to the wealthy to rampant de-regulation.

To say he wasn't Republican is insane. He even ignored the poor in New Orleans. And started a war for money and oil. You can't get any more Republican. And, he wanted "magical creation" taught in schools.

 

[Stephanie]

Under Bush and the Republicans, we saw:

Massive redistribution of wealth from the Middle Class to the top 1% ---> ongoing.

Massive movement of jobs from the Middle Class to other countries.

Slashing education in state after Republican controlled state ---> ongoing.

The unwillingness to invest in American infrastructure ---> ongoing.

Even the threat of not helping tornado, hurricane and earthquake disaster victims.

The willingness to start foreign wars to create even more business opportunities.

Hoping the auto industry goes into bankruptcy.

In fact, the way Republicans have piled on the debt, it reminds me of Bain capital preparing a company for sale to maximize profits. Is that it? Is that the goal? Sell off what is left of the country until only a shell is left?

Unless Republicans can come up with an alternative scenario, this is how things seem to be going under their policies. If they get back into office, will they finish the job they started under Bush?

Bush was an Idiot, He is not the GOP. You are an Idiot as well. As Usual.

Oh, get real. Bush was totally a Republican. He was elected governor as a Republican. He was elected president twice as a Republican. His family is Republican to the core.

And his policies were totally Republican. From tax cuts going mostly to the wealthy to rampant de-regulation.

To say he wasn't Republican is insane. He even ignored the poor in New Orleans. And started a war for money and oil. You can't get any more Republican. And, he wanted "magical creation" taught in schools.

Did you just say Bush was a, REPUBLICAN?

 

[rdean]

Bush was an Idiot, He is not the GOP. You are an Idiot as well. As Usual.

Oh, get real. Bush was totally a Republican. He was elected governor as a Republican. He was elected president twice as a Republican. His family is Republican to the core.

And his policies were totally Republican. From tax cuts going mostly to the wealthy to rampant de-regulation.

To say he wasn't Republican is insane. He even ignored the poor in New Orleans. And started a war for money and oil. You can't get any more Republican. And, he wanted "magical creation" taught in schools.

Did you just say Bush was a, REPUBLICAN?

He still is.

 

[whitehall]

Gut the Country? Does the radical left really believe the moderate to liberal policies of George W Bush ....gutted the Country? WTF? Organized crime couldn't think of a better scam than Fannie Mae. Democrats used it for a home for political hacks who knew nothing about mortgages. Look at the board of directors some time. It was a no-show job and the CEO's like Frank Raines had free reign to cook the books and walk away with 90 Million taxpayer dollars for three years work. The House Banking Committee had oversight responsibility and the chairman Barney Frank (D-Mass) told Americans that Fannie was doing fine when it was on the verge of collapse. Is there anybody on the left who looks around these days? Barry Hussein could have spiked the economy simply by going along with the Pipeline but spiking the economy ain't what the modern democrat party is about. Democrats want to punish Americans for their decadence in the last half century and create an energy crisis. Crisis is what keeps the democrat party going and democrats are determined to finish the job of converting the late great United States from a super-power to a 3rd world country.

 

[rdean]

Gut the Country? Does the radical left really believe the moderate to liberal policies of George W Bush ....gutted the Country? WTF? Organized crime couldn't think of a better scam than Fannie Mae. Democrats used it for a home for political hacks who knew nothing about mortgages. Look at the board of directors some time. It was a no-show job and the CEO's like Frank Raines had free reign to cook the books and walk away with 90 Million taxpayer dollars for three years work. The House Banking Committee had oversight responsibility and the chairman Barney Frank (D-Mass) told Americans that Fannie was doing fine when it was on the verge of collapse. Is there anybody on the left who looks around these days? Barry Hussein could have spiked the economy simply by going along with the Pipeline but spiking the economy ain't what the modern democrat party is about. Democrats want to punish Americans for their decadence in the last half century and create an energy crisis. Crisis is what keeps the democrat party going and democrats are determined to finish the job of converting the late great United States from a super-power to a 3rd world country.

90 million dollars could not bankrupt this country. Our economy is trillions.

After deregulation, more than 70% of the mortgage market was moved to Wall Street where they were sold overseas as bundled "securities". The securities were insured, they tanked and Wall Street collected those insurance policies referred to as "derivatives". This is what brought down the big insurance companies.

Notice, in your "speech" there was no mention of derivatives or insurance companies. This proves you have absorbed Republican talking points and have no clue what exactly happened. There are books out there. There's news stories. Plenty of material for you to read. Otherwise, you look ridiculous. Republicans are counting on an ignorant base.

If you guys are going to make these sweeping statement, make sure they're true. Otherwise, you look, well, you know.

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

Derivatives are extraordinarily dangerous. They brought down AIG, and AIG nearly brought down our economy. The market is huge--the trading value of derivatives is $3.3 trillion, and the contracts bet on $500 trillion worth of stuff. A whopping 96 percent of this market is housed in just five banks.

Five Ways the Wall St. Reform Bill Needs to Be Fixed

It’s harder to make a similarly extenuating case for Wall Street and the Street’s cronies in Washington. Real street-level fraud took place in mortgage lending. Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios. They misled regulators about the level of risk they were taking. Their access to power in Washington allowed them to get away relatively unscathed in the crash, and they’ve since awarded themselves record bonuses while the rest of the country struggles.

How Wall Street

 

[Toddsterpatriot]

Gut the Country? Does the radical left really believe the moderate to liberal policies of George W Bush ....gutted the Country? WTF? Organized crime couldn't think of a better scam than Fannie Mae. Democrats used it for a home for political hacks who knew nothing about mortgages. Look at the board of directors some time. It was a no-show job and the CEO's like Frank Raines had free reign to cook the books and walk away with 90 Million taxpayer dollars for three years work. The House Banking Committee had oversight responsibility and the chairman Barney Frank (D-Mass) told Americans that Fannie was doing fine when it was on the verge of collapse. Is there anybody on the left who looks around these days? Barry Hussein could have spiked the economy simply by going along with the Pipeline but spiking the economy ain't what the modern democrat party is about. Democrats want to punish Americans for their decadence in the last half century and create an energy crisis. Crisis is what keeps the democrat party going and democrats are determined to finish the job of converting the late great United States from a super-power to a 3rd world country.

90 million dollars could not bankrupt this country. Our economy is trillions.

After deregulation, more than 70% of the mortgage market was moved to Wall Street where they were sold overseas as bundled "securities". The securities were insured, they tanked and Wall Street collected those insurance policies referred to as "derivatives". This is what brought down the big insurance companies.

Notice, in your "speech" there was no mention of derivatives or insurance companies. This proves you have absorbed Republican talking points and have no clue what exactly happened. There are books out there. There's news stories. Plenty of material for you to read. Otherwise, you look ridiculous. Republicans are counting on an ignorant base.

If you guys are going to make these sweeping statement, make sure they're true. Otherwise, you look, well, you know.

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

Derivatives are extraordinarily dangerous. They brought down AIG, and AIG nearly brought down our economy. The market is huge--the trading value of derivatives is $3.3 trillion, and the contracts bet on $500 trillion worth of stuff. A whopping 96 percent of this market is housed in just five banks.

Five Ways the Wall St. Reform Bill Needs to Be Fixed

It’s harder to make a similarly extenuating case for Wall Street and the Street’s cronies in Washington. Real street-level fraud took place in mortgage lending. Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios. They misled regulators about the level of risk they were taking. Their access to power in Washington allowed them to get away relatively unscathed in the crash, and they’ve since awarded themselves record bonuses while the rest of the country struggles.

How Wall Street

After deregulation,

When do you imagine this deregulation happened?

Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios.

Yeah, that's why no Wall Street firms lost any money on mortgages.

Their access to power in Washington allowed them to get away relatively unscathed in the crash

Who got away "relatively unscathed"?

 

[rdean]

Gut the Country? Does the radical left really believe the moderate to liberal policies of George W Bush ....gutted the Country? WTF? Organized crime couldn't think of a better scam than Fannie Mae. Democrats used it for a home for political hacks who knew nothing about mortgages. Look at the board of directors some time. It was a no-show job and the CEO's like Frank Raines had free reign to cook the books and walk away with 90 Million taxpayer dollars for three years work. The House Banking Committee had oversight responsibility and the chairman Barney Frank (D-Mass) told Americans that Fannie was doing fine when it was on the verge of collapse. Is there anybody on the left who looks around these days? Barry Hussein could have spiked the economy simply by going along with the Pipeline but spiking the economy ain't what the modern democrat party is about. Democrats want to punish Americans for their decadence in the last half century and create an energy crisis. Crisis is what keeps the democrat party going and democrats are determined to finish the job of converting the late great United States from a super-power to a 3rd world country.

90 million dollars could not bankrupt this country. Our economy is trillions.

After deregulation, more than 70% of the mortgage market was moved to Wall Street where they were sold overseas as bundled "securities". The securities were insured, they tanked and Wall Street collected those insurance policies referred to as "derivatives". This is what brought down the big insurance companies.

Notice, in your "speech" there was no mention of derivatives or insurance companies. This proves you have absorbed Republican talking points and have no clue what exactly happened. There are books out there. There's news stories. Plenty of material for you to read. Otherwise, you look ridiculous. Republicans are counting on an ignorant base.

If you guys are going to make these sweeping statement, make sure they're true. Otherwise, you look, well, you know.

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

Derivatives are extraordinarily dangerous. They brought down AIG, and AIG nearly brought down our economy. The market is huge--the trading value of derivatives is $3.3 trillion, and the contracts bet on $500 trillion worth of stuff. A whopping 96 percent of this market is housed in just five banks.

Five Ways the Wall St. Reform Bill Needs to Be Fixed

It’s harder to make a similarly extenuating case for Wall Street and the Street’s cronies in Washington. Real street-level fraud took place in mortgage lending. Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios. They misled regulators about the level of risk they were taking. Their access to power in Washington allowed them to get away relatively unscathed in the crash, and they’ve since awarded themselves record bonuses while the rest of the country struggles.

How Wall Street

After deregulation,

When do you imagine this deregulation happened?

Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios.

Yeah, that's why no Wall Street firms lost any money on mortgages.

Their access to power in Washington allowed them to get away relatively unscathed in the crash

Who got away "relatively unscathed"?

Exactly. Clearly it wasn't "Freddie/Fannie" like many Republicans claim.

 

[Toddsterpatriot]

90 million dollars could not bankrupt this country. Our economy is trillions.

After deregulation, more than 70% of the mortgage market was moved to Wall Street where they were sold overseas as bundled "securities". The securities were insured, they tanked and Wall Street collected those insurance policies referred to as "derivatives". This is what brought down the big insurance companies.

Notice, in your "speech" there was no mention of derivatives or insurance companies. This proves you have absorbed Republican talking points and have no clue what exactly happened. There are books out there. There's news stories. Plenty of material for you to read. Otherwise, you look ridiculous. Republicans are counting on an ignorant base.

If you guys are going to make these sweeping statement, make sure they're true. Otherwise, you look, well, you know.

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

Derivatives are extraordinarily dangerous. They brought down AIG, and AIG nearly brought down our economy. The market is huge--the trading value of derivatives is $3.3 trillion, and the contracts bet on $500 trillion worth of stuff. A whopping 96 percent of this market is housed in just five banks.

Five Ways the Wall St. Reform Bill Needs to Be Fixed

It’s harder to make a similarly extenuating case for Wall Street and the Street’s cronies in Washington. Real street-level fraud took place in mortgage lending. Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios. They misled regulators about the level of risk they were taking. Their access to power in Washington allowed them to get away relatively unscathed in the crash, and they’ve since awarded themselves record bonuses while the rest of the country struggles.

How Wall Street

After deregulation,

When do you imagine this deregulation happened?

Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios.

Yeah, that's why no Wall Street firms lost any money on mortgages.

Their access to power in Washington allowed them to get away relatively unscathed in the crash

Who got away "relatively unscathed"?

Exactly. Clearly it wasn't "Freddie/Fannie" like many Republicans claim.

Holy non sequitur, Batman.

Next time, try to answer my questions.

 

[whitehall]

Gut the Country? Does the radical left really believe the moderate to liberal policies of George W Bush ....gutted the Country? WTF? Organized crime couldn't think of a better scam than Fannie Mae. Democrats used it for a home for political hacks who knew nothing about mortgages. Look at the board of directors some time. It was a no-show job and the CEO's like Frank Raines had free reign to cook the books and walk away with 90 Million taxpayer dollars for three years work. The House Banking Committee had oversight responsibility and the chairman Barney Frank (D-Mass) told Americans that Fannie was doing fine when it was on the verge of collapse. Is there anybody on the left who looks around these days? Barry Hussein could have spiked the economy simply by going along with the Pipeline but spiking the economy ain't what the modern democrat party is about. Democrats want to punish Americans for their decadence in the last half century and create an energy crisis. Crisis is what keeps the democrat party going and democrats are determined to finish the job of converting the late great United States from a super-power to a 3rd world country.

90 million dollars could not bankrupt this country. Our economy is trillions.

After deregulation, more than 70% of the mortgage market was moved to Wall Street where they were sold overseas as bundled "securities". The securities were insured, they tanked and Wall Street collected those insurance policies referred to as "derivatives". This is what brought down the big insurance companies.

Notice, in your "speech" there was no mention of derivatives or insurance companies. This proves you have absorbed Republican talking points and have no clue what exactly happened. There are books out there. There's news stories. Plenty of material for you to read. Otherwise, you look ridiculous. Republicans are counting on an ignorant base.

If you guys are going to make these sweeping statement, make sure they're true. Otherwise, you look, well, you know.

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

Derivatives are extraordinarily dangerous. They brought down AIG, and AIG nearly brought down our economy. The market is huge--the trading value of derivatives is $3.3 trillion, and the contracts bet on $500 trillion worth of stuff. A whopping 96 percent of this market is housed in just five banks.

Five Ways the Wall St. Reform Bill Needs to Be Fixed

It’s harder to make a similarly extenuating case for Wall Street and the Street’s cronies in Washington. Real street-level fraud took place in mortgage lending. Wall Street firms encouraged it and sold securities made with fraudulent mortgages while secretly unloading the same securities from their own portfolios. They misled regulators about the level of risk they were taking. Their access to power in Washington allowed them to get away relatively unscathed in the crash, and they’ve since awarded themselves record bonuses while the rest of the country struggles.

How Wall Street

The 90 million dollars that Frank Raines stole from American taxpayers is a tiny example of the way the federal government operates. The fact that radical lefties dismiss it is indicative of their ignorant attitude that government can do it better. Government can't tie it's shoelaces without a volume of instructions and a thousand pairs of shoelaces to replace the ones that are stolen. Wall Street has no power. It operated within government mandated guidelines. Don't you understand that Wall Street is not the problem?

 

[Chris]

The Republican War on America continues...

Take away union rights, take away women's rights, and suppress the black vote.

It's the same story in every state the Republicans control.

 

[rdean]

The Republican War on America continues...

Take away union rights, take away women's rights, and suppress the black vote.

It's the same story in every state the Republicans control.

It's their values and morals.

 

[ShaklesOfBigGov]

You're not seriously asking that question?

OK, I'll play.

If you make 60,000 (which I'm sure is way, way more than you will ever make) and you get back a thousand dollars, it means a lot to you, but it doesn't change your lifestyle much at all.

However, if you have 10 million dollars and get back 500,000, does that mean the guy making 60,000 isn't working hard enough? That the guy making 60,000 is lazy? Since that's more than 8 years salary for the guy making 60,000, for sure he feels the person getting back 500,000 is getting rich. In just three years under this plan, one guy is getting 3,000 while the other guy is getting more than a quarter century of the yearly salary of the guy making 60,000.

So where is the money moving to? Figure it out? Think before saying anything.

Remember, Mitt Romney hasn't worked for years and he gets 57,000 dollars a day.

Let's include another comparison. What sort of education and business experience does a man making $60,000 have compared to an individual who makes [lets say] $500,000 a year? Does the man with a business degree that allows him to perform their job as a CEO, received any special educational treatment that someone making $60,000 can't obtain if they chose to push themselves further? Shouldn't salary be a reward for how hard you worked in receiving that Bachlors or Masters degree? Wow! What a concept!

What entitles those with a lower salary, to earn a greater tax return? Can you answer me that? Is this to become more of a sympathy Federal tax refund, with a pat on the back "you can do it if you try" encouragement letter?

A lot of it depends on where you were born and who your "daddy" is. Nothing at all to do with work.

Besides, how hard is it to destroy a company and throw people out of work? For many Republicans, it's probably really fun.

There are grants, scholarships, and tuition assistance in place that can get you the education you need, all it requires is a bit of effort. If you want the income a CEO makes, then roll up your sleeves, apply for tuituion assistance or use the military for collage aid, find a way through a little research and effort, and do the hard work to get the education you need. If you choose to simply flip burgers or earn $15 an hour as a labor worker, then you get the lifestyle you have chosen to persue. Why is the left so afraid of earning an education that gets them into a position to earn more? For some reason, they would much rather just ask the Federal Government to just give it to them from the rich. How lazy (and YES I will use that word without apology or remorse to describe those who share in this particular "point of view") is that? Income is earned through EDUCATION, PERSONAL RESPONSIBILITY, taking the necessary RISKS and old fashioned hard EFFORT. Donald Trump and George Soros persued the idea of educating themselves with business and/or finances, and making decisions necessary to earn the lifestyles they wanted. The opportunity is there for those who want it bad enough to work towards it.

By the way you have yet to answer me as to what entitles those with a lower salary, to earn a greater tax return? Still waiting a response on that one.

 

[ShaklesOfBigGov]

Gut the Country? Does the radical left really believe the moderate to liberal policies of George W Bush ....gutted the Country? WTF? Organized crime couldn't think of a better scam than Fannie Mae. Democrats used it for a home for political hacks who knew nothing about mortgages. Look at the board of directors some time. It was a no-show job and the CEO's like Frank Raines had free reign to cook the books and walk away with 90 Million taxpayer dollars for three years work. The House Banking Committee had oversight responsibility and the chairman Barney Frank (D-Mass) told Americans that Fannie was doing fine when it was on the verge of collapse. Is there anybody on the left who looks around these days? Barry Hussein could have spiked the economy simply by going along with the Pipeline but spiking the economy ain't what the modern democrat party is about. Democrats want to punish Americans for their decadence in the last half century and create an energy crisis. Crisis is what keeps the democrat party going and democrats are determined to finish the job of converting the late great United States from a super-power to a 3rd world country.

90 million dollars could not bankrupt this country. Our economy is trillions.

Actually CRA the Communitry Reinvestment Act signed under Clinton pushed banks to give home mortgages to those "poor" families who didn't qualify for a loan to begin with, hiding behind the word "discrimination". Fannie Mae and Freddie Mac had no oversight, to which President Bush and the Republicans fought to achieve, the Democrats turned it into a racial hunt against "the supurb leadership of Mr Frank Reins" (quoted from D-Maxine Waters). We can see how supurb that was when they both were in MAJOR financial trouble at the very beginning of all this economic mess, then President Obama turned and gave them a blank check for a bailout without ANY oversight or accountability.

September 1999

With pressure from the Clinton Administration, Fannie Mae eased credit requirements on loans it would purchase from lenders, making it easier for banks to lend to borrowers unqualified for conventional loans. Raines explained that "there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market," reported the New York Times.

With this action, Fannie Mae put itself at substantial risk in the event of an economic downturn. "From the perspective of many people, including me, this is another thrift industry growing up around us," warned Peter Wallison. "If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry." The danger was known.


September 1999

A study by Freddie Mac, confirming earlier Federal Reserve and FDIC studies, contradicts race discrimination arguments for CRA. The study found that African-Americans with annual incomes of $65-$75,000 have on average worse credit records than whites making under $25,000, showing that the difficulty in qualifying was not because of race but because of bad credit records. The Federal Reserve Bank of Dallas accordingly entitled a paper "Red Lining or Red Herring?"


March 2000

Rep. Richard Baker (R-Louisiana) proposed a bill to reform Fannie and Freddie's oversight in a House Subcommittee on Capital Markets.

Rep. Frank (D-Massachusetts) dismissed the idea, saying concerns about the two were "overblown" and that there was "no federal liability there whatsoever."


June 2003

Freddie Mac reported it had understated its profits by $6.9 billion. OFHEO director Armando Falcon Jr. requested that the White House audit Fannie Mae.


July 2003

Sens. Chuck Hagel (R-Nebraska), Elizabeth Dole (R-North Carolina) and John Sununu (R-New Hampshire) introduced legislation to address Regulation of Fannie Mae and Freddie Mac. The bill was blocked by Democrats


September 2003

Treasury Secretary John Snow testifies that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements, says a White House release.

Rep. Barney Frank (D-Massachusetts): "I do not think we are facing any kind of a crisis. That is, in my view, the two government sponsored enterprises we are talking about here, Fannie Mae and Freddie Mac, are not in a crisis.


October 2003

Fannie Mae discloses $1.2 billion accounting error.


September 2004

OFHEO reported that Fannie Mae and CEO Raines had manipulated its accounting to overstate its profits. Congress and the Bush administration sought strong new regulation and authority to put the GSEs under conservatorship if necessary. As the Washington Post reports, Fannie Mae and Freddie Mac responded by orchestrating a major campaign "by traditional allies including real estate agents, home builders and mortgage lenders. Fannie Mae ran radio and television ads ahead of a key Senate committee meeting, depicting a Latino couple who fretted that if the bill passed, mortgage rates would go up." Again, GSE pressure prevailed.


October 2004

Rep. Baker again warned about the coming crisis in the Wall Street Journal: "Then there's the lesson of a company, Frankenstein-like, seemingly grown so powerful that it can intimidate and arrogantly flout all accountability to the very government that created it."

In a subcommittee testimony, Democrats vehemently reject regulation of Fannie Mae in the face of dire warning of a Fannie Mae oversight report. A few of them, Black Caucus members in particular, are very angry at the OFHEO Director as they attempt to defend Fannie Mae and protect their CRA extortion racket.

Rep. Maxine Waters (D-California): "Through nearly a dozen hearings where, frankly, we were trying to fix something that wasn't broke."

Rep. Maxine Waters (D-California): "Mr. Chairman, we do not have a crisis at Freddie Mac, and particularly at Fannie Mae, under the outstanding leadership of Mr. Frank Raines."

Rep. Gregory Meeks (D-New York): "And as well as the fact that I'm just pissed off at OFHEO, because if it wasn't for you I don't think that we'd be here in the first place, and now the problem that we have and that we're faced with is: maybe some individuals who wanted to do away with GSEs in the first place, you've given them an excuse to try to have this forum so that we can talk about it and maybe change the, uh, the direction and the mission of what the GSEs had, which they've done a tremendous job. There's been nothing that was indicated that's wrong, you know, with uh Fannie Mae. Freddie Mac has come up on its own. And the question that then presents is the competence that, that, that, that your agency has, uh, with reference to, uh, uh, deciding and regulating these GSEs. Uh, and so, uh, I wish I could sit here and say that I'm not upset with you, but I am very upset because, you know, what you do is give, you know, maybe giving any reason to, as Mr. Gonzales said, to give someone a heart surgery when they really don't need it."

Rep. Ed Royce (R-California): "In addition to our important oversight role in this committee, I hope that we will move swiftly to create a new regulatory structure for Fannie Mae, for Freddie Mac, and the federal home loan banks."

Rep. Lacy Clay (D-Missouri): "This hearing is about the political lynching of Franklin Raines."

Rep. Barney Frank (D-Massachusetts): "Uh, I, this, you, you, you seem to me saying, ‘Well, these are in areas which could raise safety and soundness problems.' I don't see anything in your report that raises safety and soundness problems."

Rep. Maxine Waters (D-California): "Under the outstanding leadership of Mr. Frank Raines, everything in the 1992 Act has worked just fine. In fact, the GSEs have exceeded their housing goals. What we need to do today is to focus on the regulator, and this must be done in a manner so as not to impede their affordable housing mission, a mission that has seen innovation flourish from desktop underwriting to 100% loans."

Rep. Lacy Clay (D-Missouri): "I find this to be inconsistent and a and a rush to judgment. I get the feeling that the markets are not worried about the safety and soundness of Fannie Mae as OFHEO says that it is, but of course the markets are not political."

Rep. Barney Frank (D-Massachusetts): "But I have seen nothing in here that suggests that the safety and soundness are at issue, and I think it serves us badly to raise safety and soundness as kind of a general shibboleth when it does not seem to me to be an issue."


January 2005-July 2006

Sen. Chuck Hagel (R-Nebraska), co-sponsored by Sens. Sununu and Dole and later Sen. McCain, re-introduced legislation to address GSE regulation.

Bloomberg writes, "If that bill had become law, then the world today would be different. . . . But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter. That such a reckless political stand could have been taken by the Democrats was obscene even then."
Archived-Articles: Why the Mortgage Crisis Happened

The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities by Howard Husock, City Journal Winter 2000
http://www.nytimes.com/2003/09/11/b...mac-and-fannie-mae.html?pagewanted=all&src=pm (new Agency proposed to oversee Freddie and Fannie)

 

[rdean]

Let's include another comparison. What sort of education and business experience does a man making $60,000 have compared to an individual who makes [lets say] $500,000 a year? Does the man with a business degree that allows him to perform their job as a CEO, received any special educational treatment that someone making $60,000 can't obtain if they chose to push themselves further? Shouldn't salary be a reward for how hard you worked in receiving that Bachlors or Masters degree? Wow! What a concept!

What entitles those with a lower salary, to earn a greater tax return? Can you answer me that? Is this to become more of a sympathy Federal tax refund, with a pat on the back "you can do it if you try" encouragement letter?

A lot of it depends on where you were born and who your "daddy" is. Nothing at all to do with work.

Besides, how hard is it to destroy a company and throw people out of work? For many Republicans, it's probably really fun.

There are grants, scholarships, and tuition assistance in place that can get you the education you need, all it requires is a bit of effort. If you want the income a CEO makes, then roll up your sleeves, apply for tuituion assistance or use the military for collage aid, find a way through a little research and effort, and do the hard work to get the education you need. If you choose to simply flip burgers or earn $15 an hour as a labor worker, then you get the lifestyle you have chosen to persue. Why is the left so afraid of earning an education that gets them into a position to earn more? For some reason, they would much rather just ask the Federal Government to just give it to them from the rich. How lazy (and YES I will use that word without apology or remorse to describe those who share in this particular "point of view") is that? Income is earned through EDUCATION, PERSONAL RESPONSIBILITY, taking the necessary RISKS and old fashioned hard EFFORT. Donald Trump and George Soros persued the idea of educating themselves with business and/or finances, and making decisions necessary to earn the lifestyles they wanted. The opportunity is there for those who want it bad enough to work towards it.

By the way you have yet to answer me as to what entitles those with a lower salary, to earn a greater tax return? Still waiting a response on that one.

In many states, not any more. In state after state controlled by Republicans, they have slashed education by a half billion to one and a half billion. These are states. If Republicans get a hold of the entire government, they will do it to the nation. That's the plan. An ignorant country is a country they can divide and keep control of. They aren't screwing the country over to "save" it. They want to squeeze it of everything they can.

Georgia - Columbia Co. superintendent says more education cuts are coming

Scott Walker's Historic Cuts to Higher Education Threaten Wisconsin's Future | Wisconsin Politics

Education Matters: Florida's education cuts lead to school closures

South Carolina Governor Nikki Haley's Budget Cuts Taxes, Education - schools close | ABC 6 WJBF-TV

Go look up the rest of the states Republicans control. It's the same across the board.

I can't believe these right wingers who absolutely refuse to look carefully at the damage their party is causing the US. Why? The country fails, they fail, their kids fail. Romney and Ryan will simply move their money overseas. They don't about the Republican Base. We know that.

 

[ShaklesOfBigGov]

In many states, not any more. In state after state controlled by Republicans, they have slashed education by a half billion to one and a half billion. These are states. If Republicans get a hold of the entire government, they will do it to the nation. That's the plan. An ignorant country is a country they can divide and keep control of. They aren't screwing the country over to "save" it. They want to squeeze it of everything they can.

Georgia - Columbia Co. superintendent says more education cuts are coming

Scott Walker's Historic Cuts to Higher Education Threaten Wisconsin's Future | Wisconsin Politics

Education Matters: Florida's education cuts lead to school closures

South Carolina Governor Nikki Haley's Budget Cuts Taxes, Education - schools close | ABC 6 WJBF-TV

Go look up the rest of the states Republicans control. It's the same across the board.

I can't believe these right wingers who absolutely refuse to look carefully at the damage their party is causing the US. Why? The country fails, they fail, their kids fail. Romney and Ryan will simply move their money overseas. They don't about the Republican Base. We know that.

Yet AGAIN you dodge my question: What entitles those with a lower salary, to earn a greater tax return? Still waiting rdean.





Students encouraged to apply for PG&E scholarships - Sacramento Business, Housing Market News | Sacramento Bee
http://www.collegeandfinance.com/32-weird-scholarships-almost-anyone-can-get/
FinAid! Financial Aid, College Scholarships and Student Loans

If all else fails you can still get one through the military G.I. Bill or ROTC !! This search here took me all but 2 seconds. You seem to love to use the word CAN'T over using a bit of effort and research. Too much work to discover ways get a grant or financial aid?

 

[rdean]

In many states, not any more. In state after state controlled by Republicans, they have slashed education by a half billion to one and a half billion. These are states. If Republicans get a hold of the entire government, they will do it to the nation. That's the plan. An ignorant country is a country they can divide and keep control of. They aren't screwing the country over to "save" it. They want to squeeze it of everything they can.

Georgia - Columbia Co. superintendent says more education cuts are coming

Scott Walker's Historic Cuts to Higher Education Threaten Wisconsin's Future | Wisconsin Politics

Education Matters: Florida's education cuts lead to school closures

South Carolina Governor Nikki Haley's Budget Cuts Taxes, Education - schools close | ABC 6 WJBF-TV

Go look up the rest of the states Republicans control. It's the same across the board.

I can't believe these right wingers who absolutely refuse to look carefully at the damage their party is causing the US. Why? The country fails, they fail, their kids fail. Romney and Ryan will simply move their money overseas. They don't about the Republican Base. We know that.

Yet AGAIN you dodge my question: What entitles those with a lower salary, to earn a greater tax return? Still waiting rdean.





Students encouraged to apply for PG&E scholarships - Sacramento Business, Housing Market News | Sacramento Bee
32 Weird Scholarships Almost Anyone Can Get | College and Finance
FinAid! Financial Aid, College Scholarships and Student Loans

If all else fails you can still get one through the military G.I. Bill or ROTC !! This search here took me all but 2 seconds. You seem to love to use the word CAN'T over using a bit of effort and research. Too much work to discover ways get a grant or financial aid?

All of those "scholarship" PRIZES are tax deductible. And the amount is tiny.

Now get this. I entered the military in 1975. People that entered the military the same time I did received the same GI bill that I did. Those starting in 1976 found their benefits slashed. The current GI bill isn't all that much.

Let me answer your question with a question. Why do those paying a smaller tax rates on millions of dollars deserve to pay even less? I mean those that aren't paying ZERO?

 

[Dot Com]

Under Bush and the Republicans, we saw:

Massive redistribution of wealth from the Middle Class to the top 1% ---> ongoing.

Massive movement of jobs from the Middle Class to other countries.

Slashing education in state after Republican controlled state ---> ongoing.

The unwillingness to invest in American infrastructure ---> ongoing.

Even the threat of not helping tornado, hurricane and earthquake disaster victims.

The willingness to start foreign wars to create even more business opportunities.

Hoping the auto industry goes into bankruptcy.

In fact, the way Republicans have piled on the debt, it reminds me of Bain capital preparing a company for sale to maximize profits. Is that it? Is that the goal? Sell off what is left of the country until only a shell is left?

Unless Republicans can come up with an alternative scenario, this is how things seem to be going under their policies. If they get back into office, will they finish the job they started under Bush?

Its well known who they work for by everyone except the Repub base who apparently don't read.
McConnell's Wall Street meeting prompts criticism from Democrats

Since the news surfaced that McConnell and Sen. John Cornyn (R-Tex.) met with financial chiefs in New York this month, on the eve of the Senate debate on a regulatory reform bill, Democrats have suggested Republicans are organizing against the legislation to curry favor and campaign donations from Wall Street, as Cornyn is the head of the Senate Republican campaign arm. Both men have denied that charge, and McConnell has defended the meeting as simply discussing legislation with people on wall street.

 

[rdean]

Under Bush and the Republicans, we saw:

Massive redistribution of wealth from the Middle Class to the top 1% ---> ongoing.

Massive movement of jobs from the Middle Class to other countries.

Slashing education in state after Republican controlled state ---> ongoing.

The unwillingness to invest in American infrastructure ---> ongoing.

Even the threat of not helping tornado, hurricane and earthquake disaster victims.

The willingness to start foreign wars to create even more business opportunities.

Hoping the auto industry goes into bankruptcy.

In fact, the way Republicans have piled on the debt, it reminds me of Bain capital preparing a company for sale to maximize profits. Is that it? Is that the goal? Sell off what is left of the country until only a shell is left?

Unless Republicans can come up with an alternative scenario, this is how things seem to be going under their policies. If they get back into office, will they finish the job they started under Bush?

Its well known who they work for by everyone except the Repub base who apparently don't read.
McConnell's Wall Street meeting prompts criticism from Democrats

Since the news surfaced that McConnell and Sen. John Cornyn (R-Tex.) met with financial chiefs in New York this month, on the eve of the Senate debate on a regulatory reform bill, Democrats have suggested Republicans are organizing against the legislation to curry favor and campaign donations from Wall Street, as Cornyn is the head of the Senate Republican campaign arm. Both men have denied that charge, and McConnell has defended the meeting as simply discussing legislation with people on wall street.

And the Chamber of Commerce gives to Republicans 9 to 1 over Democrats.