N.Y Times-PROOF-Regulations blocked by DEMS on Fannie/Freddie crisis

[oreo]

Date of article--September 2003

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.

Also quoted in this same article, democrat Barney Frank:--ranking democrat on the financial services commitee:

Quote:
'These two entities -- Fannie Mae and Freddie Mac --are not facing any kind of financial crisis,'' said Democrat 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.''

McCain co-sponsored the Federal Housing Enterprise Regulatory Reform Act of 2005 trying to reign in Freddie Mac & Fannie Mae. His bill was also blocked by democrats.

The Republicans saw this coming. The Democrats ignored it, then blocked any new regulation, & decided to keep loaning money to people who could not pay it back. Now the taxpayer, meaning you & I are out 700 BILLION dollars!

It's clear that democrats never wanted to regulate Fannie Mae & Freddie Mac! Why?--because these agencies were their own personal piggy banks! Barack Obama being the second largest donor receipiant of these agencies. Democrat Criss Dodd being in 1st place.

- New York Times


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Last edited by iamwhatiseem; 3 Hours Ago at 05:32 PM.

 

[oreo]

Karl Rove stated that every time the administration would try to reign in Fannie Mae & Freddie Mac--there would be at least 40 democrats on the hill that would block any new legislation.

 

[editec]

Depends on how they wanted to reign it in, doesn't it?

A fragment of a whole story is worse than lie.

If you haven't read the bill, if you don't know the whole story about what was actually be voted on, then you don't know SQUAT.

 

[WillowTree]

What we know is that they didn't reign it in.

 

[jillian]

What we know is that they didn't reign it in.

What you DON'T know is what offensive riders were placed on the bill by the repubs to kill it.

 

[dilloduck]

What you DON'T know is what offensive riders were placed on the bill by the repubs to kill it.

Im all ears--what were the offensive riders that were worth 700 billion ?

 

[Ravi]

I was under the impression that Fannie and Freddie went down because of the devaluation of property, no? Not sure how this article ties in with that.

Care to enlighten me?

 

[Silence]

curious....whose campaign manager worked for years, earning almost 2 million dollars, to keep Fannie Mae and Freddie Mac from being regulated?

 

[xsited1]

Also quoted in this same article, democrat Barney Frank:--ranking democrat on the financial services commitee:

Quote:
'These two entities -- Fannie Mae and Freddie Mac --are not facing any kind of financial crisis,'' said Democrat 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.''

Social Security is going bankrupt and Democrats are still in denial.

 

[sealybobo]

Date of article--September 2003

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.

Also quoted in this same article, democrat Barney Frank:--ranking democrat on the financial services commitee:

Quote:
'These two entities -- Fannie Mae and Freddie Mac --are not facing any kind of financial crisis,'' said Democrat 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.''

McCain co-sponsored the Federal Housing Enterprise Regulatory Reform Act of 2005 trying to reign in Freddie Mac & Fannie Mae. His bill was also blocked by democrats.

The Republicans saw this coming. The Democrats ignored it, then blocked any new regulation, & decided to keep loaning money to people who could not pay it back. Now the taxpayer, meaning you & I are out 700 BILLION dollars!

It's clear that democrats never wanted to regulate Fannie Mae & Freddie Mac! Why?--because these agencies were their own personal piggy banks! Barack Obama being the second largest donor receipiant of these agencies. Democrat Criss Dodd being in 1st place.

- New York Times


__________________


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Last edited by iamwhatiseem; 3 Hours Ago at 05:32 PM.

Just like they said there was a shortage of oil when there was no shortage, there was no problem with these banks. They were just going to take a lot of losses on foreclosed loans. Not enough to break them though. But they don't want to take a loss, so instead they used fear of economic collapse to trick us. So they let Lehman go belly up, they consolidate power and they take our tax dollars to make up for all those bad loans. In other words, they fucked you in the ass. And, do you even know about this?

A critical - and radical - component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. Section 8

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter

The Democrats better not give Bush a blank check and make Hank Paulson above the law. He/They will rape our treasury of whatever is left. They are already doing so.

 

[editec]

I cannot believe what a partisna idiot you are, Oreo.

The system is falling apart because of the greed of the master class, and you're STILL trying to blame only those masters that you think are liberals.

Do you not understand that everything you believed was a lie?

 

[dilloduck]

I cannot believe what a partisna idiot you are, Oreo.

The system is falling apart because of the greed of the master class, and you're STILL trying to blame only those masters that you think are liberals.

Do you not understand that everything you believed was a lie?

and just who elected this master class ?

 

[Ravi]

I cannot believe what a partisna idiot you are, Oreo.

Can't you? With a name like oreo...

 

[oreo]

Depends on how they wanted to reign it in, doesn't it?

A fragment of a whole story is worse than lie.

If you haven't read the bill, if you don't know the whole story about what was actually be voted on, then you don't know SQUAT.

Obviously--ANYTHING would have been better than doing NOTHING!

5 years ago--Barney Franks--was ADAMANT--that there was nothing wrong with Freddie Mac & Fannie Mae.

The Bush adminstration disagreed with him!

You might try reading Barney Franks "exact" words again!

I know this is a very tough PILL for you liberals to swallow, but this financial crisis is laid at the feet of democrats who continually blocked any new legislation--regarding new regulations on Freddie Mac & Fannie Mae.

This is why the democrat lead congress will not call for a full investigation. They know they would be exposed.

 

[Ravi]

oreo, I take it by your refusal to address my comment that you haven't the least idea of what you are talking about.

 

[oreo]

TO ALL YOU LIBERALS!

So now the next time you hear your "messiah" Barack Obama, while on the campaign trail.

Bush did nothing to stop this financial crisis--"where was the regulation on these agencies"--McCain is just like Bush--"do you want another 3rd term for President Bush".

NOW YOU KNOW THE TRUTH! While Obama's buddies, (CFO's of Freddie Mac & Fannie Mae) were driving these agencies into the ground, they were also making certain that Barack's coffers were full of cash.

This while President Bush & John McCain were trying to reign these agencies in. They were continually blocked by democrats on the hill, whom used these agencies as their personal piggy banks!.

 

[user_name_guest]

Social Security is going bankrupt and Democrats are still in denial.

Billions of dollars can be contributed to medicare fraud. Billions of dollars can be contributed to government programs going to illegal immigrants.

 

[editec]

and just who elected this master class ?

The master class, who else?

The own both parties.

They own both franchises.

Where have you been for the last 40 years?

 

[jillian]

TO ALL YOU LIBERALS!

So now the next time you hear your "messiah" Barack Obama, while on the campaign trail.

Bush did nothing to stop this financial crisis--"where was the regulation on these agencies"--McCain is just like Bush--"do you want another 3rd term for President Bush".

NOW YOU KNOW THE TRUTH! While Obama's buddies, (CFO's of Freddie Mac & Fannie Mae) were driving these agencies into the ground, they were also making certain that Barack's coffers were full of cash.

This while President Bush & John McCain were trying to reign these agencies in. They were continually blocked by democrats on the hill, whom used these agencies as their personal piggy banks!.

You need to take a deep breath... breathe into a paper bag or something... you're hyperventilating.

 

[Ravi]

Still waiting, oreo.