Page 1 of 2 12 LastLast
Results 1 to 10 of 19
  1. #1 Fannie Mae and Freddie Mac: Do you want the truth or the Kool-Aid? 
    An Adversary of Linda #'s
    Join Date
    Aug 2005
    Posts
    22,891
    THE POLITICS OF BLACKNESS: Fannie Mae and Freddie Mac: Do you want the truth or the Kool-Aid?

    Fannie Mae, the Federal National Mortgage Association and Freddie Mac, the Federal Home Loan Mortgage Corporation, own about half of America’s $12 trillion mortgage market.

    Even though Fannie Mae goes back to President Roosevelt’s New Deal, it is commonly known that the present focus of both Fannie and Freddie are “creations of the congressional Democrats (particularly the Congressional Black Caucus) and the Clinton White House, designed to make mortgages available to more people,” meaning minorities.

    Jesse Jackson, according to the National Legal and Policy Center, has had a cozy relationship with Fannie and Freddie since 1998, when he accused Freddie of racial discrimination, encouraging major shareholders to sell their stock.

    His criticisms stopped when he signed a $1 million contract with Freddie Mac for his Rainbow/PUSH “Economic Literacy” program. Since then, Fannie and Freddie have been major contributors to the Rainbow/PUSH Coalition and Citizenship Education Fund Annual Conference, dropping a combined $250,000 even this year as they were in the midst of a financial meltdown.


    Based on articles in Fortune magazine and The Post Chronicle, it is very clear that the housing debacle that caused foreclosures on thousands of homeowners, particularly blacks, were initiated, instigated, and exacerbated by Democrats. These include Fannie Mae Chairman and Chief Executive Officer Franklin Delano Raines, known as “the first black man to head a Fortune 500 company.”

    Raines, a former Clinton White House budget director, took “early retirement” as the Office of Federal Housing Enterprise Oversight (OFHEO) sued him for $50 million in payments he received from “accounting irregularities” of overstated earnings from an estimated $6.3 billion.

    There are several million-dollar players in this meltdown, all Democrats, including James A. Johnson, another former Fannie Mae CEO, who resigned as the head of Barack Obama’s vice presidential vetting team after news that he received questionable loans from Countrywide Financial, also a part of the financial political loan scandal.

    Raines and Johnson are part of Obama’s inner circle. High-ranking Democrats like Sen. Christopher Dodd (D-CT), chairman of the
    Senate Banking Committee, and Sen. Kent Conrad (D-ND), chairman of the Senate Budget Committee, also received favorable financing from Countrywide as well as huge amounts from Fannie and Freddie as they pretended to provide oversight.


    Obama spits fire at John McCain for having lobbyists around him, but it was Obama who, in his 143 days in the Senate, got $126,349 from Fannie and Freddie, just a little less than Dodd’s $165, 400 and more than John Kerry’s $111,000, making him number two on the Fannie/Freddie list of favored politicians.

    As Obama blames McCain and President Bush for Fannie and Freddie, the facts show that both Republicans called for oversight but were thwarted by congressional Democrats. And when Obama claims to have warned about Fannie and Freddie, those watching Congress ask when Obama even spoke out, calling him an “unusually good liar.”

    On Sept. 19, 2008, The White House issued a press release, “Just the Facts: The Administration’s Unheeded Warnings About the System Risk Posed by the GSEs,” detailing that since April 2001, “the President and his Administration have not only warned (17 times in 2008 alone) of the systemic consequences of financial turmoil at (Fannie and Freddie), but also put forward thoughtful plans to reduce the risk that either would encounter such difficulties.”

    http://www.sfltimes.com/index.php?op...961&Itemid=188
     

  2. #2  
    Senior Member LogansPapa's Avatar
    Join Date
    May 2008
    Location
    Surf City, USA
    Posts
    3,782
    Yep - people of color and ALL Democrats are responsible for the latest gigantic economic fiasco - the largest since the Great Depression and not a single Republican, private or politician, had one single thing to do with the current situation, and to say so is unpatriotic and demoralises the troops.

    Fuck me.

    This is a giant shit sandwich - of EVERYONE’S making - and we’re all going to have to take a nice, big, juicy bite of it before this gets back to normal.
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
     

  3. #3  
    Power CUer
    Join Date
    May 2008
    Location
    Northern Virginia
    Posts
    11,409
    Exactly. There's plenty of blame to go around, and plenty of time to sort it out.
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
     

  4. #4  
    An Adversary of Linda #'s
    Join Date
    Aug 2005
    Posts
    22,891
    Quote Originally Posted by linda22003 View Post
    Exactly. There's plenty of blame to go around, and plenty of time to sort it out.
    Nice try slick but you liberals own it hook line and sinker !!
     

  5. #5  
    Power CUer
    Join Date
    May 2008
    Location
    Northern Virginia
    Posts
    11,409
    Yeah, it was me all the time. You're such a good detective, Megi.
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
     

  6. #6  
    Senior Member LogansPapa's Avatar
    Join Date
    May 2008
    Location
    Surf City, USA
    Posts
    3,782
    Quote Originally Posted by megimoo View Post
    Nice try slick but you liberals own it hook line and sinker !!
    I'd ask you to show us the math, megi, but we all know your head's still smarting from that one.
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
     

  7. #7  
    Goldwater
    Guest
    Quote Originally Posted by linda22003 View Post
    Yeah, it was me all the time. You're such a good detective, Megi.
    I love it. :D
     

  8. #8  
    Power CUer
    Join Date
    May 2008
    Location
    Northern Virginia
    Posts
    11,409
    And I would have gotten away with it, too, if it hadn't been for..... oh, never mind.
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
     

  9. #9  
    An Adversary of Linda #'s
    Join Date
    Aug 2005
    Posts
    22,891
    Quote Originally Posted by linda22003 View Post
    Yeah, it was me all the time. You're such a good detective, Megi.
    Silly Stuff and Comments .
     

  10. #10  
    CU Royalty JB's Avatar
    Join Date
    May 2005
    Posts
    8,017
    Quote Originally Posted by LogansPapa View Post
    Yep - people of color and ALL Democrats are responsible for the latest gigantic economic fiasco - the largest since the Great Depression and not a single Republican, private or politician, had one single thing to do with the current situation, and to say so is unpatriotic and demoralises the troops.

    Fuck me.
    I find it rather amusing that every thread that is posted on the subject...every thread that details the lib legislation, every thread that shows the libs that cooked the books, the libs that took the contributions, the libs that blocked oversight legislation and the libs that told us that F/F were just fine is met solely with the same response:

    It must be Bushies fault, he was president. waaaaahhhhhhh.
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •