Newt Pimped Freddie Mac

[del]

It wasn't even him. His company was hired to provide strategic advice as a consultant.

We can't let the truth get in the way of a good lib lie though.

rofl

Confirmation bias - Wikipedia, the free encyclopedia



Outstanding.

strategic advice

 

[del]

And these are the only direct quotes of Gingrich? Please.....

Please provide a better model of supporting homeownership, all you need to win this argument is just one example, remember just one...

Funny how Gingrich gets this noose hung around his neck and you leave out the worst culprit, Franklin Raines, wasn't his compensation north of $92MILL????

Sub prime was the bastard child of CRA and you know it, if you don't your in denial...

there we go.we can dismiss you

Franklin Raines--received bonuse's from Fannie Mae to the tune of 125 MILLION dollars--of course after the collapse--he went to court over these bonuses and had to repay 25 million of it.

You might also remember that Franklin Raines--was to be an Obama cabinet appointee--when the news broke out about these bonuses--Obama had to kick him to the curb on an appointment.

is franklin running for president?

stfu

 

[JoeB131]

Awesome!

Let's add that to the long list of why you are a liberal/Marxist.

Actually, we can simplify this to one thing.

I am for what is best for America, not what is best for big corporations or scumwads on Wall Street.

If what you do is good for the rest of us, Go with God.

If it isn't, - BAM!

You guys screwed the country. We need to drag the lot of you in front of courts and send you all to big-boy prison.

 

[Steelplate]

Wait a second, bigot.

Conservatives blame Freddie and Fannie. Conservatives say they caused the housing bubble. Newt was a paid shill for Freddie. Amongst the many people you hate, you hate bankers who caused the Financial Crisis. According to the conservative meme, people are homeless because of Freddie.

Yet, because you hate Mormons more than bankers, you support Newt.

Until he implodes, then you'll support Bachmann/Perry/Santorum/Paul.

Well, first, I see a difference between the banks and Freddy/Fanny.

Freddie and Fannie were just left holding the bag. The banks would make the loans to Johnny Foodstamp because the CRA made him do it, and then sell off the crap paper to Freddie, because the government (again, told to do so by Wall Street) made them do it.

So, no, I don't "blame" Freddie. It was doing exactly what it was designed to do. I blame the banks who manipulated the system.

All Newt did was provide advice. Sorry, man, can't get upset about that, and normally, you wouldn't be upset about it if your Boy Romney wasn't getting his tail whupped right now and he was getting snippy with Fox News people.

Seriously? Fox News?

Awesome!

Let's add that to the long list of why you are a liberal/Marxist.

- You think that offshoring is treason. You've said it is worse than spies selling nuclear secrets to the Soviets.

- You think investing is parasitic

- You think the 1% is the enemy

- You think society has the right to expropriate property and take all their assets if they don't conform to your morals

- You think selling is a criminal offense

- You think violence is acceptable

- You think multinational corporations legitimize repressive regimes and exploit workers.

- You are a protectionist

- The GSEs aren’t to blame for the mortgage meltdown. Instead, blame the banks who "manipulated the system"

wow.... when all else fails... play the Marxist card, right?

 

[JoeB131]

wow.... when all else fails... play the Marxist card, right?

Unfortunatley, Toro represents the "I got mine, **** you" wing of the GOP.

 

[Steelplate]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

 

[JoeB131]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

The ironic thing is that he mistakes Plutocracy for Capitalism. They aren't really the same thing at all...

Sadly, I think that the hardest goal is saving people like him from themselves...

 

[Toro]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

But you're a liberal, right?

 

[Toro]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

The ironic thing is that he mistakes Plutocracy for Capitalism. They aren't really the same thing at all...

Sadly, I think that the hardest goal is saving people like him from themselves...

Socialists say the same thing.

 

[JoeB131]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

But you're a liberal, right?

See, again with the labels...

I mean, do you not see what the problem is, guy? You guys trigger the worse economic disaster in history, and then you all act like it's not your fault at all.

It would be hilarious if the punchline wasn't using a Robo-signer to take Granny's house.

If the economy had not collapsed because of what you people did, we'd be well into McCain's first term. He'd have won easily. But you guys messed it up so bad that a lot of otherwise reasonable people took a chance on "hope and change". And now you want to mess it up further by nominating a guy who helped cause the mess and has a weirdo religion to boot.

It's like you don't even realize you messed up.

 

[AVG-JOE]

It wasn't even him. His company was hired to provide strategic advice as a consultant.

We can't let the truth get in the way of a good lib lie though.

 

[Steelplate]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

But you're a liberal, right?

Depends on the issue. If you really want to know(which I know you don't):

On the Conservative Side:

I am very leery of Gun Control. I don't want a nation carrying fully automatic AK's and RPG's... but Handguns, Sporting guns and semi-autos are fine with me.

I am pro Welfare Reform. I think that there should be a "work for benefits" program. The problem that you will have with my idea of the concept is that, what starts out as "working for Benefits" is a transition to full time work... in both the Public and the Private Sector, depending on where their talents lie.

On the Liberal Side:

I am Pro-choice... not Pro-Abortion, mind you... Just Pro Choice. IMO, people's personal decisions in life are their business... it's between them and God(yes, I am a Christian).

I am Pro-Labor. The way I see it... if our workforce is paid a proper wage, even the ditch diggers can raise a family comfortably and have disposable income to buy the crap that rich people make.... it's a win/win. Good paying jobs= money to be spent=Money to be spent=more sales=more sales=more profit for the owners of business. It's a symbiotic relationship... not master/slave.

I am pro gay rights.... I don't care who sleeps with who in this country. I think Gay couples ought to be able to carry each other on their health Insurance and file taxes in the same way Heterosexual couples do.

Which brings me to Health Care.

I am pro national health Care. I know, I know... SOCIALIST!!!

But the way I see it is this. You want to stimulate Small Business? What's the best way to do it? What is one of the biggest problems Small businesses have in competing with the big boys, both in hiring and attaining labor and cost effectiveness? Health Insurance. If you were looking for a career and you were a desirable employee, where would you go? To a Mom and Pop who can barely afford a minimal benefits package, or to MegaCorp Inc. Who can afford to give you health Insurance?

Furthermore... if those Health Care needs were already taken care of... salaries should rise because the benefits package costs would go down... and the cost of Health Care would be spread across every working person in America. Also...For Profit Hospitals would go by the wayside, so Hospitalization Costs would go down... Big Pharma would either have to sell their products at the same cost as they sell them to other countries, or raise the price on other countries so that we are all paying the same... instead of America subsidizing the rest of the world.

There are other issues, but that hits most of the major ones.

 

[Toro]

yeah... I call them the "let them eat cake-ers" of our country. Well we all know how that turned out for Marie Antoinette, right?(euphemistically speaking, of course)

But you're a liberal, right?

See, again with the labels...

I mean, do you not see what the problem is, guy? You guys trigger the worse economic disaster in history, and then you all act like it's not your fault at all.

It would be hilarious if the punchline wasn't using a Robo-signer to take Granny's house.

If the economy had not collapsed because of what you people did, we'd be well into McCain's first term. He'd have won easily. But you guys messed it up so bad that a lot of otherwise reasonable people took a chance on "hope and change". And now you want to mess it up further by nominating a guy who helped cause the mess and has a weirdo religion to boot.

It's like you don't even realize you messed up.

You are an idiot.

Ravi, Jillian and all other liberals, I apologize for calling Joe a liberal.

 

[Ravi]

How did Romney "help cause the mess?"

 

[Dot Com]

He's the best man to do it

 

[Old Rocks]

Interesting thread. So how does this blue collar liberal see the role of financiers in this nation? Without people investing capital, you don't get new businesses started. However, when the investment capital is siphoned of in the type of schemes involved in the derivitives trading, then you get no new bussinesses, and a lot of rich people who essentially stole the nation's, or in this case, the world's, working capital.

In all the threads concerning this, all I have ever seen Toro post is condemnation of the type of practices that led to this debacle. Toro, by what I can tell by his posts, is a conservative, not a 'Conservative'.

In the present list of candidates for the GOP nomination, there are only two conservatives, Romney and Huntsman. Romney, unfortunetely, is flip-flopping, and denying some of his best work as governor. And Huntsman is just too damned honest and straightforward to gather even a small percentage of the vote in todays radicalized GOP.

 

[JoeB131]

How did Romney "help cause the mess?"

Soros hasn't sent you the talking points yet?

 

[JoeB131]

Interesting thread. So how does this blue collar liberal see the role of financiers in this nation? Without people investing capital, you don't get new businesses started. However, when the investment capital is siphoned of in the type of schemes involved in the derivitives trading, then you get no new bussinesses, and a lot of rich people who essentially stole the nation's, or in this case, the world's, working capital.

In all the threads concerning this, all I have ever seen Toro post is condemnation of the type of practices that led to this debacle. Toro, by what I can tell by his posts, is a conservative, not a 'Conservative'.

In the present list of candidates for the GOP nomination, there are only two conservatives, Romney and Huntsman. Romney, unfortunetely, is flip-flopping, and denying some of his best work as governor. And Huntsman is just too damned honest and straightforward to gather even a small percentage of the vote in todays radicalized GOP.

Toto has gotten on here bragging about how he made a fortune "selling real estate short".

So frankly, he's kind of like the Claude Riens character in Casablanca...

I'm shocked there are people here making a fortune stealing Granny's house!"
"Your winnings, sir!"

Now. to the point. I think that the overall mentatlity that we should encourage investment and build businesses is a sound one. Sadly, that got lost somewhere along the line. About the time people like Toto got in the system and got off in their fancy suits about how it was sooooo much like gambling. But not really because you were losing someone else's money if you lost.

"Ooops, lost a bunch of money".
"Quick, go to the government for a bailout."

 

[Toro]

Interesting thread. So how does this blue collar liberal see the role of financiers in this nation? Without people investing capital, you don't get new businesses started. However, when the investment capital is siphoned of in the type of schemes involved in the derivitives trading, then you get no new bussinesses, and a lot of rich people who essentially stole the nation's, or in this case, the world's, working capital.

In all the threads concerning this, all I have ever seen Toro post is condemnation of the type of practices that led to this debacle. Toro, by what I can tell by his posts, is a conservative, not a 'Conservative'.

In the present list of candidates for the GOP nomination, there are only two conservatives, Romney and Huntsman. Romney, unfortunetely, is flip-flopping, and denying some of his best work as governor. And Huntsman is just too damned honest and straightforward to gather even a small percentage of the vote in todays radicalized GOP.

Toto has gotten on here bragging about how he made a fortune "selling real estate short".

So frankly, he's kind of like the Claude Riens character in Casablanca...

I'm shocked there are people here making a fortune stealing Granny's house!"
"Your winnings, sir!"

Now. to the point. I think that the overall mentatlity that we should encourage investment and build businesses is a sound one. Sadly, that got lost somewhere along the line. About the time people like Toto got in the system and got off in their fancy suits about how it was sooooo much like gambling. But not really because you were losing someone else's money if you lost.

"Ooops, lost a bunch of money".
"Quick, go to the government for a bailout."

Just to clarify, I have told whiny über-RINO/Marxist-wannabe JoeB more than once that I did not make a fortune shorting real estate. I wish I had. Instead, I made a fair amount of money but not enough to retire on.

Just something to keep in mind when reading his blatherings.

 

[Trajan]

Well, it appears the Freddie Mac lobbyist wasn't just warning the GSEs about their lending practices after all.

Of course, you don't pay nearly $2 million to a politician to give you economic advice.

Former House Speaker Newt Gingrich touted the virtues of Freddie Mac's business model in an interview published by the company in April 2007, remarks that contrast with the candidate's recent statements that he had warned the company of impending financial disaster.

The interview was featured on Freddie Mac's website for several months in 2007 when he was a paid consultant to the company and Freddie Mac was struggling to address mounting financial problems after it stepped up its subprime mortgage business.

At the time, critics were complaining that Freddie Mac and its larger cousin, Fannie Mae, benefited from an unfair competitive advantage because of the perception their debt had an implicit government guarantee. That allowed the mortgage-finance companies, formerly known as government-sponsored enterprises, or GSEs, to borrow at lower rates than private-sector competitors.

"While we need to improve the regulation of the GSEs, I would be very cautious about fundamentally changing their role or the model itself," Mr. Gingrich said in the interview.

Pressed in the interview about how that was not "a point of view one normally associates with conservatives," Mr. Gingrich replied that there are times "when you need government to help spur private enterprise and economic development." He cited electricity and telephone network expansion as similarly effective private-public purposes. "It's not a point of view libertarians would embrace, but I am more in the Alexander Hamilton-Teddy Roosevelt tradition of conservatism," he said. He added, "I'm convinced that if NASA were a GSE, we probably would be on Mars today."

The interview was published by Freddie Mac as part of a regular campaign to educate the public—and Washington—about its brand. It appeared beneath a section entitled "Freddie Mac and the Subprime Market," and was composed by Freddie Mac based on Mr. Gingrich's discussions with the company as well as his writings about the role of government. The blog Verum Serum found that the transcript is accessible on an archived version of Freddie Mac's website.

A spokesman for Mr. Gingrich, Joe DeSantis, said the 2007 interview showed Mr. Gingrich arguing for improved regulation of Freddie and Fannie. He said the interview "directly contradicts the erroneous reports" that Mr. Gingrich was trying to stop reforms to Fannie and Freddie. ...

"While Fannie and Freddie were ruining the housing market and causing millions of homeowners to lose their homes and life savings, Newt Gingrich was earning millions advising them and advocating for them," said Gary Howard, a spokesman for Rep. Ron Paul (R., Texas). "Now, Newt wants to deny the facts of his role in the whole mess. Unfortunately for him, the facts are right there for everyone to see." ...

The Freddie corporate interview doesn't show him expressing such concerns. Fannie and Freddie "have made an important contribution to homeownership and the housing finance system," Mr. Gingrich is quoted as saying in the interview, which was presented on the website in a question-and-answer format. "We have a much more liquid and stable housing finance system than we would have without the [companies]."

Gingrich Backed Freddie Mac in 2007 Interview - WSJ.com

yes, I read this or that is another article outlining same the other day.

I have a john kerry 'waffle house' T shirt from 04, really. I bought it as a gag and a few for my democratic friends. I think I need a few more for newt and romney.

frankly, I am underwhelmed.

the curious thing is why the media is not going all out. I think, seriously, they are unsure who they would like to see obama run against as they are both heavily flawed.

newt can bamboozle obama ala policy, Romney has been a gov. of a blue state and is a centrist but a waffler too. Plus Romney is a Mormon and the obama acolytes are licking their chops over that. Newt has had, several ethics issues, and, a tick, like obama thinks hes the smartest guy in the room , every room, even empty ones.