Barney Frank's Fannie and Freddie Muddle
CB
September 10, 2008 10:20 AM ET | Sam Dealey | Permanent Link
Now that crisis management has taken root and Fannie and Freddie have been
placed in conservatorship, a number of commentators have remarked that
Treasury Secretary Henry Paulson's actions bear a striking resemblance to
what his predecessor proposed five years ago. Whether the two mortgage
giants deserve a future will be a pitched battle, but for now, Democratic
Rep. Barney Frank of Massachusetts, the Financial Services Committee
chairman, has issued a press release with a fanciful take on history.
From Frank's press release:
The truth is when President Bush took office, and the Republicans
controlled both houses of Congress, he did not make any progress on
comprehensive legislation to reform the regulation of the Government
Sponsored Enterprises. It was not until 2005, when the House, on a
bipartisan basis, and over the President's objections finally passed a
reform bill. It died in the Senate in part because the White House's failure
to make it a priority.
In fact, here's a New York Times story from September 2003, clearly showing
that the first substantive Fannie and Freddie reform from inside government
came from the Bush administration. Spurred by worries that Fannie and
Freddie were cooking their books and taking too many risks, Treasury
Secretary John Snow proposed placing the companies under Treasury oversight
with strict controls over risk and capital reserves. The NYT labeled the
proposal "the most significant regulatory overhaul in the housing finance
industry since the savings and loan crisis a decade ago" and noted:
Mr. Snow said that Congress should eliminate the power of the president to
appoint directors to the companies, a sign that the administration is less
concerned about the perks of patronage than it is about the potential
political problems associated with any new difficulties arising at the
companies.
So five years ago, there was one of those rare moments in Washington when
the branches and personalities of government-in this case, the Bush
administration-are less interested in protecting or expanding their turf
than in fixing a looming catastrophe. What was Frank's response to the
proposal?
"These two entities-Fannie Mae and Freddie Mac-are not facing any kind of
financial crisis," said 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."
As Frank mentions in his press release today, two years after it was first
proposed, the House finally voted on a bill reforming the mortgage giants.
Alas, the legislation was watered down to the point of being
meaningless-that's why it passed the House with such wide margins (122
Democrats and 209 Republicans). But even then, and despite his high regard
for bipartisanship now, Barney Frank wasn't among the yeas.
Lubow
The GOPukes are going to blame the financial mess on:
(1) Clinton's screwing around
(2) Ted Kennedy's driving
(3) Barney Frank's lifestyle
(4) Obama's preacher
"CB" <C...@PrayForMe.com> wrote in message
news:48d22161$0$6157$9a6e...@unlimited.newshosting.com...
CB
"Lubow" <lu...@lubowindustries.com> wrote in message
news:48d24fc6$0$2859$ec3e...@news.usenetmonster.com...
> Didn't I tell ya? Didn't I tell ya?
>
> The GOPukes are going to blame the financial mess on:
>
> (1) Clinton's screwing around
>
> (2) Ted Kennedy's driving
>
> (3) Barney Frank's lifestyle
>
> (4) Obama's preacher
The economy is on the skid due to DimocRAT greed
Lubow
anything that resembled the truth. Charlie, you are one lousy bullshit artist.
"CB" <C...@PrayForMe.com> wrote in message
news:48d2f33d$0$6137$9a6e...@unlimited.newshosting.com...
CB
> Thank you for your amazing comments and complete and total disregard for
> anything that resembled the truth. Charlie, you are one lousy bullshit
> artist.
The truth 'is' stark contrast to the good ole boy network that Dims have set
up for them selves.
Barney Frank, Franklin Raines - Berry Obama's economic mentor, James A.
Johnson and Jamie Gorelick.
Fannie Mae contributed to Obama's Senate/presidential campaigns. Obama
received the second highest amount of money in donations in Fannie Mae's
history. Obama's only been in office three years! Who's the #1 beneficiary
of Fannie Mae political contributions? Joe Biden!
You Dims have no morality
...
"None of the stories discussed the roughly $30 billion in lost value to
stockholders since this scandal has hit the news. None of them mentioned the
fact that this was a Democratic scandal."
...
Being connected to President Bush was newsworthy. Being connected to
President Clinton apparently was not.
...
http://www.businessandmedia.org/commentary/2006/com20060607.asp
Kevin Cunningham
CB wrote:
> "Lubow" <lu...@lubowindustries.com> wrote in message
> news:48d2fc0a$0$26764$ec3e...@news.usenetmonster.com...
> > Thank you for your amazing comments and complete and total disregard for
> > anything that resembled the truth. Charlie, you are one lousy bullshit
> > artist.
>
> The truth 'is' stark contrast to the good ole boy network that Dims have set
> up for them selves.
>
> Barney Frank, Franklin Raines - Berry Obama's economic mentor, James A.
> Johnson and Jamie Gorelick.
>
> Fannie Mae contributed to Obama's Senate/presidential campaigns. Obama
> received the second highest amount of money in donations in Fannie Mae's
> history. Obama's only been in office three years! Who's the #1 beneficiary
> of Fannie Mae political contributions? Joe Biden!
>
> You Dims have no morality
> ...
> "None of the stories discussed the roughly $30 billion in lost value to
> stockholders since this scandal has hit the news. None of them mentioned the
> fact that this was a Democratic scandal."
> ...
> Being connected to President Bush was newsworthy. Being connected to
> President Clinton apparently was not.
> ...
> http://www.businessandmedia.org/commentary/2006/com20060607.asp
>
>
And tell me, idiot, who nationalized Fannie and Freddie? Did Obama?
Nope it was Bush. And who passed all the legislation that "freed" the
banks? You repugs did.
See, filthy, you repugs got this crisis going and you kept it going.
You like the idea of screwing people, as long as they're money wound
up in your pocket.
As for morality, why are Craig and Vitter still members of the party?
Got an answer for that?
Oh, and do tell us about the glories of your morality.
George Grapman
> ANATOMY OF THE DEMOCRAT-CREATED SUBPRIME MORTGAGE DISASTER
>
> The "Community Reinvestment Act" (CRA) was passed into law by the
> Democratically controlled U.S. Congress in 1977 under Jimmy Carter
> because of pressure from Liberal Fascists clamoring for minority
> housing, despite considerable opposition from the mainstream banking
> community. Only one banker in the entire U.S. banking industry, Ron
> Grzywinski from the ShoreBank in South Chicago, testified in favor of
> the Act. The ShoreBank is headquartered in the South Shore
> neighborhood of Chicago. In 1985, Ron Grzywinski worked with then
> Arkansas Governor Bill Clinton to set up the Southern Development
> Bancorporation. Clinton credits ShoreBank with inspiring Community
> Development Financial Institutions (CDFI's). In a 1992 speech, Clinton
> called ShoreBank "the most important bank in America." In addition to
> ShoreBank, Ron Grzywinski is heavily involved with the Aga Khan
> Foundation in Pakistan.
>
What effort did Republican make to change this law when they
controlled congress and the presidency for 6 years?
>
> In 1995, because of insistence from Bill Clinton, the implementing
> regulations for the Community Reinvestment Act (CRA) were directed to
> concentrate the Federal Financial Regulators' attention on lenders
> performance in making loans to minorities. The 1995 revisions were
> credited with forcing a substantial increase the amount of Sub-Prime
> home loans to low-income borrowers with poor credit histories. The
> increase in this type of lending was facilitated by increased
> efficiency in the secondary market for bundled mortgage loans. The
> slack revisions allowed the Securitization of CRA Loans containing
> these dubious so-called Sub-Prime mortgages. The first Socialistic
> public securitization of CRA loans was started by Leftist Democrats
> in1997.
>
> Requirements to qualify for loans were drastically lowered to promote
> giving loans to inner city minority low-income households. "Racial
> Discrimination" in mortgage acceptance rates was cited by the National
> Community Reinvestment Coalition, ACORN and other Leftist groups as a
> primary reason to expand the scope of the "Community Reinvestment Act"
> (CRA).
>
> [Note that ShoreBank and its banker, Ron Grzywinski, is from the South
> Chicago. The same area that ObaMao agitated as a "Community
> Organizer".]
>
> The tens of thousands of Mortgage Defaults and Foreclosures in the
> euphemistically named "Sub-Prime" housing market (i.e., minority
> mortgage holders with bad credit ratings) is the direct result of
> thirty years of socialistic Democratic Policy that forced banks to
> make bad loans to un-creditworthy borrowers. The policy in question is
> the 1977 Community Reinvestment Act (CRA), which compelled banks to
> make imprudent loans to minority borrowers in what the Marxist
> supporters of the Act call "Communities of Color" that they would
> never have made based solely on sound economic criteria.
>
> The original lobbyists for the "Community Reinvestment Act" were the
> hardcore Leftists who supported Jimmy Carter and were rewarded for
> their support with Government Grants and Programs like the CRA that
> they benefited from. These included various "neighborhood
> organizations," as they like to call themselves, such as "ACORN"
> (Association of Community Organizations for Reform Now). These
> organizations brag that over $1 Trillion in CRA loans have been made,
> although no one seems to know the real magnitude. A U.S. Senate
> Banking Committee staffer said ten years ago that over $100 billion in
> Sub-Prime loans had been made in the first twenty years of the Act.
>
> The so-called "community groups" like ACORN benefit themselves from
> the CRA through a process of legalized extortion. The CRA is enforced
> by four Federal Government Bureaucracies: the Fed, the Comptroller of
> the Currency, the Office of Thrift Supervision, and the Federal
> Deposit Insurance Corporation. The law is set up so that any bank
> merger, branch expansion, or new branch creation can be postponed or
> prohibited by any of these four bureaucracies if a CRA "Protest" is
> issued by a "community group." This would cost banks huge sums of
> money, and the "community groups" understand this threat perfectly
> well. It is their leverage. They use this leverage to extort millions
> of dollars from banks as well as promises to continue making bad loans
> in their minority Communities of Color.
>
> A Jew named Bruce Marks became quite notorious during the last decade
> for pressuring banks to earmark literally billions of dollars to his
> organization, the "Neighborhood Assistance Corporation of America." He
> once boasted to the New York Times that he had "won" loan commitments
> totaling $3.8 billion from Bank of America, First Union Corporation,
> and the Fleet Financial Group. That is just one "community group"
> operating in one city - Boston.
>
> Banks have been forced into a Catch 22 situation by the "Community
> Reinvestment Act": If they comply, they know they will have to suffer
> from loan defaults. If they don't comply, they face government
> financial penalties and, worse yet, their business plans for mergers,
> branch expansions, etc. will be blocked by "Community Organizer"
> protesters, which cost large corporations like Bank of America
> billions of dollars. Like most businesses, they have largely buckled
> under and have surrendered to the government bureaucrats.
>
> Consequently, banks in every community in America have been forced to
> hold a portfolio of bad loans to minorities with bad credit,
> euphemistically referred to as "Sub-Prime" loans. In order to
> compensate themselves for the added risk of giving our money to
> noncredit worthy minority borrowers, lenders have tried to increase
> the lending fees associated with mortgage loans. This is simply an
> indirect way of doing what banks always do - and what they must do to
> remain solvent: charging effectively higher rates of interest on
> riskier loans.
>
> Nevertheless, this bez discriminatory, scream the "Community
> Organizers". Thus, if one browses the ACORN web site, one can read of
> their boasts of getting "Predatory Lending Laws" passed in numerous
> states which outlaw recouping such costs, prohibiting banks from
> protecting themselves from the huge risks involved in making the loans
> they're forced to give to "Sub-Prime" unqualified borrowers.
>
> These are Price Control Laws, and Price Controls always cause
> shortages. Normally, banks would respond to such laws by extending
> fewer riskier loans. In this case the banks are forced to continue
> giving bad risks loans by their bureaucratic masters at the Fed and
> the other three Federal Bureaucracies mentioned above. So-called
> Predatory Lending Laws therefore force the banks to "eat" the losses.
> This is the major factor that caused the bankruptcy of dozens of
> mortgage lenders over the past year.
>
> Then of course, there is the issue of the Fed's Monetary Policy having
> created the Housing Bubble, characterized by a spectacular escalation
> of real estate values in every American city over the past decade or
> so. This created a further problem for the financial institutions that
> are victimized by the "Community Reinvestment Act." They are forced to
> make bad loans, but because of the Fed-created explosion in housing
> prices, many thousands of Sub-Prime borrowers no longer qualified, by
> a long stretch, for conventional mortgages based on their incomes.
>
> The only way these borrowers could qualify for their mortgage loans
> (even ignoring their bad credit ratings) was to take out adjustable
> rate mortgages, some of which had astonishingly low first-year rates
> in the 3 percent range, and sometimes lower. This is what has largely
> fueled the subprime mortgage meltdown - the inability of thousands of
> subprime borrowers to afford their mortgages now that their rates have
> adjusted upward. Thus, the combination of the Fed's enforcement of the
> Marxist "Community Reinvestment Act." and Democratic Monetary Policy
> in general are the reasons for the bursting real estate bubble and the
> "Sub-Prime" mortgage meltdown.
>
> Don't expect to read about this in the "MainStream Media," however,
> which views groups like ACORN as Heroic Champions of the downtrodden
> po' niggras, Laws like the "Community Reinvestment Act" as
> Anti-Discrimination laws, and places all of the blame for the
> Sub-Prime mortgage meltdown on greedy capitalists, especially mortgage
> brokers. Encouraged by such reporting, the sleazy Democratic Senator
> Charley Schumer of New York has promised more Federal Legislation that
> will reign in the evil Capitalist miscreants, while the Bush
> administration is proposing an indirect bank bailout by having the
> Federal Housing Administration cover many of the defaulted bad
> "Sub-Prime" loans. This will create what economists call a "moral
> hazard" by encouraging even more bad loans to be extended in the
> future. Every banker in America will be glad to extend loans at high
> rates of interest to typical deadbeat minority borrowers if there is
> no possibility of default because the Taxpayers are effectively
> guaranteeing the bad loans.
>
> WHAT IS "ACORN" (Association of Community Organizations for Reform
> Now)
>
> ACORN is a far Leftist political organization that grew out of George
> Wiley's National Welfare Rights Organization (NWRO), whose Community
> Organizers in the 1960s and 70s violently invaded welfare offices
> across the U.S. bullying social workers and loudly demanding every
> penny to which the law "entitled" them. In the late 1960s, ACORN
> co-founder Wade Rathke was a NWRO organizer and a protegé of Wiley.
> Rathke also organized draft resistance for the militant group Students
> for a Democratic Society (SDS)
> In 1970 Rathke and Wiley best known for his use of the "Cloward-Piven
> strategy," which called for swamping the Welfare Rolls with minority
> applicants and thereby creating an economic crisis and Gary Delgado a
> lead organizer for Wiley's NWRO -- formed a new entity called ARKANSAS
> Community Organizations for Reform Now (ACORN) [Clinton's territory].
> The group's name was later changed to Association of Community
> Organizations for Reform Now, but the acronym ACORN remained. Instead
> of focusing only on welfare recipients, ACORN's mandate included all
> issues touching low-income and working-class people.
>
> Rathke and his ACORN co-agitators recruited rabble rousers and trained
> them in a program at Syracuse University patterned after Saul
> Alinsky's activist tactics. Today ACORN claims 175,000 dues-paying
> protestors, and more than 850 chapters in 70 U.S. cities in 38 states.
> It owns two radio stations, a housing corporation, and a law office,
> and maintains affiliate relationships with a host of Trade-Union
> thugs. ACORN also runs schools where children are trained in
> class-consciousness; a network of "boot camps" for indoctrinating
> Community Organizers; and operations that extort payoffs from banks
> and other businesses under threats of Racial violence and trumped-up
> Civil Rights Actions.
>
> In 1998, ACORN founded the Working Families Party in New York, to
> promote candidates for political office. It endorsed Hillary Clinton
> in her 2000 Senate race. Canvassers from ACORN and its sister groups
> launched a statewide voter-mobilization drive that proved influential
> in Clinton's victory. In November 2001, a coalition of radical
> politicians led by ACORN-sponsored candidates running on the Working
> Families Party ticket won a veto-proof majority on the New York City
> Council, giving ACORN de facto control of the New York City
> government.
>
> With little opposition from supine Republicans, ACORN radicals pushed
> laws tightening their control over New York City government and
> stripped the Mayor of executive power. Their current platform calls
> for a rollback of welfare reforms; a crackdown on NYC Police,
> including a ban on "Racial and Ethnic Profiling"; and the appointment
> of a radicalized Civilian Review Board newly empowered to harass and
> prosecute police officers. ACORN also uses its influence to raise
> corporate taxes, increase regulation, and empower unions with an array
> of new Rights. ACORN seeks to prevent any corporation from being free
> to leave New York without an "exit visa" from the City Council.
>
> On March 12, 2003, the ACORN-controlled City Council passed a
> resolution, by a 31-17 margin, condemning the U.S. invasion of Iraq.
> In the 2004 election cycle, ACORN and its sister group ran a
> nationwide voter mobilization drive that was marred by allegations of
> fraudulent voter registration, vote-rigging, voter intimidation, and
> vote-for-pay scams. ACORN's get-out-the-vote activists were implicated
> in schemes that included the falsification and destruction of
> thousands of voter registration forms, and the registering of
> convicted felons even in states where felons are ineligible to vote.
>
> In 2006, approximately 20,000 questionable voter registration forms
> were turned in by ACORN officials in Missouri -- virtually all in the
> St. Louis and Kansas City areas, where ACORN helped empower the
> "disenfranchised" minorities living there. Similar examples of ACORN
> voter fraud were perpetrated in Pennsylvania, Ohio and Colorado.
> Between 2004 and 2006, ACORN employees submitted fraudulent voter
> registration cards and forged signatures on ballot initiatives in 12
> states.
>
> Syndicated columnist Michelle Malkin wrote: "In July 2007 ACORN
> settled the largest case of voter fraud in the history of Washington
> State. Seven ACORN workers had submitted over 2,000 bogus voter
> registration forms. According to case records, they flipped through
> phone books for names to use on the forms, including 'Leon Spinks,'
> 'Frekkie Magoal' and 'Fruto Boy Crispila.' Three ACORN election
> hoaxers pleaded guilty in October 2007. A King County prosecutor
> called ACORN's criminal sabotage 'An act of vandalism upon the voter
> rolls.' "The group's vandalism on electoral integrity is systemic.
> ACORN has been implicated in similar voter fraud schemes in Missouri,
> Ohio and at least 12 other states. The Wall Street Journal noted: 'In
> Ohio in 2004, a worker for one affiliate was given crack cocaine in
> exchange for fraudulent registrations that included underage voters,
> dead voters and pillars of the community named Mary Poppins, Dick
> Tracy and Jive Turkey. During a congressional hearing in Ohio in the
> aftermath of the 2004 election, officials from several counties in the
> state explained ACORN's practice of dumping thousands of registration
> forms in their lap on eve of the submission deadline, even though the
> forms had been collected months earlier.' "In March [2008],
> Philadelphia elections officials accused the nonprofit advocacy group
> of filing fraudulent voter registrations in advance of the April 22nd
> Pennsylvania primary. The charges were forwarded to the city district
> attorney's office."
>
> ACORN makes a great deal of money from its "community organizing"
> campaigns, and shows little tolerance for rival leftist groups
> infringing on its turf. For instance, when ACORN set up shop in San
> Francisco in May 2002, it discovered that many of its potential
> recruits - low-income blacks and Hispanics - were networked with the
> Outer Mission Resident's Association (OMRA). The San Francisco
> Examiner reports, "ACORN soon began a process of intimidation by
> busing in activists from Oakland to disrupt OMRA events. Since ACORN
> is a private corporation, it does not divulge its finances. Further
> complicating any effort to calculate ACORN's income is the fact that
> it operates an unknown number of front groups, many of which conceal
> their relationship to ACORN. But as of March 2006 ACORN claimed
> 175,000 member families on its website, each contributing at least
> $120 per year, which amounts to about $21 million in annual membership
> fees. ACORN's website states, "Membership dues and a host of
> grassroots and chapter-based fundraising programs pay for 70 to 75
> percent of the entire organization's budget."
>
> Since its inception in 1970, ACORN's overriding mission has been to
> enact "living wage" ordinances at the local, state and - ultimately -
> federal levels. It has succeeded in getting many such laws passed.
> ACORN's model legislation contains a clause that exempts unionized
> businesses from paying the minimum wage. As a result, those companies
> that stubbornly resist unionizing founder and, in many cases, go
> bankrupt. Those that unionize thrive, providing an ever-expanding
> membership base for union recruiting. This is the main reason that
> unions such as AFSCME and SEIU contribute so generously to ACORN.
>
> Housing activism is another major focus for ACORN, which forms housing
> collectives in targeted areas. The collective applies pressure on
> local authorities to place it in charge of renovating and managing
> abandoned or dilapidated properties for poor tenants. Local
> authorities provide money for renovation -- much of which ends up in
> ACORN bank accounts. The poor tenants are compelled to "earn" their
> new homes by investing "sweat equity" -- that is, working without pay
> on renovating the properties. ACORN or its designated "housing
> collective" retains title to the land on which the building stands. If
> the tenants decide to move out, they are required to sell their
> property back to ACORN, at cost, no matter what the market value of
> the property.
> In recent years, ACORN has received funding from many left wing
> foundations, including but not limited to the Annie E. Casey
> Foundation;the Minneapolis Foundation the Open Society Institute; the
> Public Welfare Foundation; the Surdna Foundation; the WOODS FUND of
> CHICAGO; and the Ben and Jerry's Foundation.
>
> Our current financial disaster is a direct and unquestionable result
> of the Socialist Liberal Fascist policies of the Neo-Communist
> Democrat Party and its ilk such as B. Hussein ObaMao.
George Grapman
> ANATOMY OF THE DEMOCRAT-CREATED SUBPRIME MORTGAGE DISASTER
>
> The "Community Reinvestment Act" (CRA) was passed into law by the
> Democratically controlled U.S. Congress in 1977 under Jimmy Carter
> because of pressure from Liberal Fascists clamoring for minority
> housing, despite considerable opposition from the mainstream banking
> community. Only one banker in the entire U.S. banking industry, Ron
> Grzywinski from the ShoreBank in South Chicago, testified in favor of
> the Act. The ShoreBank is headquartered in the South Shore
> neighborhood of Chicago. In 1985, Ron Grzywinski worked with then
> Arkansas Governor Bill Clinton to set up the Southern Development
> Bancorporation. Clinton credits ShoreBank with inspiring Community
> Development Financial Institutions (CDFI's). In a 1992 speech, Clinton
> called ShoreBank "the most important bank in America." In addition to
> ShoreBank, Ron Grzywinski is heavily involved with the Aga Khan
> Foundation in Pakistan.
So it took 31 years from the time this law was enacted before it
caused the current crisis?
Slo
> //...@nog.org wrote:
> > ANATOMY OF THE DEMOCRAT-CREATED SUBPRIME MORTGAGE DISASTER
>
> > The "Community Reinvestment Act" (CRA) was passed into law by the
> > Democratically controlled U.S. Congress in 1977 under Jimmy Carter
> > because of pressure from Liberal Fascists clamoring for minority
> > housing, despite considerable opposition from the mainstream banking
> > community. Only one banker in the entire U.S. banking industry, Ron
> > Grzywinski from the ShoreBank in South Chicago, testified in favor of
> > the Act. The ShoreBank is headquartered in the South Shore
> > neighborhood of Chicago. In 1985, Ron Grzywinski worked with then
> > Arkansas Governor Bill Clinton to set up the Southern Development
> > Bancorporation. Clinton credits ShoreBank with inspiring Community
> > Development Financial Institutions (CDFI's). In a 1992 speech, Clinton
> > called ShoreBank "the most important bank in America." In addition to
> > ShoreBank, Ron Grzywinski is heavily involved with the Aga Khan
> > Foundation in Pakistan.
>
> >
>
> What effort did Republican make to change this law when they
> controlled congress and the presidency for 6 years?
This is total bullshit. The problem was that low interest rates
helped bring real estate values up way too high and deregulated
financial institutions gave out bad loans. It's pure Republinomics;
do anything to cheat your way into money. Leave it to scumbag racist
righties to try to make a race issue out of it.
There's a reason they're called Republiscum.
CB
"Slo" <Slos...@gmail.com> wrote in message
news:a66bebc5-7470-4f59...@c22g2000prc.googlegroups.com...
I posted article after article of the players that did our economy in, their
all Dims except one and his name is Mudd.
--
CB
While the form of treachery varies slightly from case to case, liberals
always manage to take the position that most undermines American security.
Ann Coulter
CB
"Kevin Cunningham" <sms...@mindspring.com> wrote in message
news:68613630-bd2a-4e37...@y21g2000hsf.googlegroups.com...
It's always Republicans who come to the rescue after Dims ruin it through
freed and corruption!
Did Obama?
> Nope it was Bush. And who passed all the legislation that "freed" the
> banks? You repugs did.
Fannie Mae contributed to Obama's Senate/presidential campaigns. Obama
received the second highest amount of money in donations in Fannie Mae's
history. Obama's only been in office three years! Who's the #1 beneficiary
of Fannie Mae political contributions? Joe Biden!
You Dims have no morality
...
"None of the stories discussed the roughly $30 billion in lost value to
stockholders since this scandal has hit the news. None of them mentioned the
fact that this was a Democratic scandal."
...
Being connected to President Bush was newsworthy. Being connected to
President Clinton apparently was not.
...
http://www.businessandmedia.org/commentary/2006/com20060607.asp
>
> See, filthy, you repugs got this crisis going and you kept it going.
> You like the idea of screwing people, as long as they're money wound
> up in your pocket.
It was Congress, specifically the DemocRAT Black Caucus that demanded Fannie
Mae make loans to people who wanted the American dream of home ownership but
had no credit, no down payment and little means of paying a loan back if
things got tough foo dim.
Slo
>
> I posted article after article of the players that did our economy in, their
> all Dims except one and his name is Mudd.
Well that would be a crock of shit, wouldn't it? Since the sub-prime
crash happened with Repubs in 100% control. The current disaster
shows the absolute bankruptcy of Republicanism.
Kevin Cunningham
>
>
>
> > See, filthy, you repugs got this crisis going and you kept it going.
> > You like the idea of screwing people, as long as they're money wound
> > up in your pocket.
>
> It was Congress, specifically the DemocRAT Black Caucus that demanded Fannie
> Mae make loans to people who wanted the American dream of home ownership but
> had no credit, no down payment and little means of paying a loan back if
> things got tough foo dim.
Hey, racist, prove it. Show how the Black Caucus forced, yes that's
right, forced the innocent banks to just hand out money to any Black
person walking along.
Well, folks this is repug racism at its worst. This filth lies about
how banks acted and how African-Americans act. Now what's fun is this
vile racist doesn't realize that people will realize that he is a vile
racist and a filthy liar. Best of all he pretends to be a christian.
CB
You duh bigot
CB
In 2005 THEY KNEW Fannie was failing but "THE FAMILY" DimocRATs and Obama
took payoffs to do nothing
I also posted a You Tube flick placing Mudd in front of the Congressional
Black Caucus grovelling to continue making loans to bad risk folk.
http://www.youtube.com/watch?v=usvG-s_Ssb0
Obama's in the crowd!
What's a crock of shit is your denial that Obama 'is' just a Black
Liberation thug from Chicago, home of the voter fraud guru, Richard Daley
Jr. Al Gore's campaign manager.
Kevin Cunningham
This racist want to show how he's not a racist by acting like a
racist. How repug of him.
Oh, he claims to be a christian. Yeah, right.
cmdr buzz corey
> This racist want to show how he's not a racist by acting like a
> racist. How repug of him.
>
> Oh, he claims to be a christian. Yeah, right.
Lets examine just who is the racist. I have emphasized parts so you
can see just how racist this moron you call lord and savior really is.
Referring to white men as crackers, "cigar smoking crackers" Dreams of
My Father, P229...Osama Hussein Obama
'I found a solace in nursing a pervasive sense of grievance and
animosity against my mother's race.'..;.Osama Hussein Obama
His mother's race was WHITE in case you forgot.
'There was something about him that made me wary, a little too sure of
himself, maybe. And WHITE.'...Osama Hussein Obama
'It remained necessary to prove which side you were on, to show your
loyalty to the BLACK masses, to strike out and name names.'...Osama
Hussein
Obama
'I never emulate WHITE men and brown men whose fates didn't speak to
my own. It was into my father's image, the BLACK man, son of Africa ,
that I'd packed all the attributes I sought in myself , the attributes
of Martin and Malcolm, DuBois and Mandela.'...Osama Hussein Obama
"The emotions between the races could never be pure; even love was
tarnished by the desire to find in the other some element that was
missing in ourselves. Whether we sought out our demons or salvation,
THE OTHER RACE (WHITE) WOULD ALWAYS REMAIN JUST THAT: MENACING, ALIEN,
AND APART." Pg 124....Osama Hussein Obama
..I ceased to advertise my mother's race (WHITE) at the age of twelve
or thirteen when I began to suspect that by doing so I was
ingratiating myself to WHITES..." pg xiv...Osama Hussein Obama
...for many WHITE people of my grandparent's generation and background
the instincts ran in an opposite direction, the direction of the mob."
pg 21...Osama Hussein Obama
"It was obvious that certain WHITES could be exempted from the general
category of our distrust," pg 81...Osama Hussein Obama
“They’re going to try to make you afraid of me. He’s young and
inexperienced and he’s got a funny name. And did I mention he’s
BLACK”...Osama Hussein Obama
Yes, the nationalist would say, whites are responsible for your sorry
state, not any inherent flaws in you. IN FACT, WHITES ARE SO HEARTLESS
AND DEVIOUS THAT WE CAN NO LONGER EXPECT ANYTHING FROM THEM. The self-
loathing you feel, what keeps you drinking or thieving, is planted by
them. Rid them from your mind and find your true power liberated. Rise
up, ye mighty race!...Osama Hussein Obama
"Questions of competition, decisions forced by a market economy and
majoritarian rule; issues of power. It was this unyielding reality-
that WHITES were not only phantoms to be expunged from our dreams but
were an active and varied fact of our everyday lives"...Osama Hussein
Obama
Oh, he claims to be a Christian. Yeah, right.
Sean Edwards <>
<cmdr-bu...@mailcity.com> wrote:
>On Sep 21, 7:07 am, Kevin Cunningham <sms...@mindspring.com> wrote:
>
>> This racist want to show how he's not a racist by acting like a
>> racist. How repug of him.
>>
>> Oh, he claims to be a christian. Yeah, right.
>
>Lets examine just who is the racist. I have emphasized parts so you
>can see just how racist this moron you call lord and savior really is.
>
>Referring to white men as crackers, "cigar smoking crackers" Dreams of
>My Father, P229...Osama Hussein Obama
"Ah, yes. Real change. It had seemed like such an attainable goal back
in college, an extension of my personal will and
my mother’s faith, like boosting my grade point average or giving up
liquor: a matter of taking and assigning
responsibility. Only now, after a year of organizing, nothing seemed
simple. Who was responsible for a place like
Altgeld? I found myself asking. There were no cigar-chomping crackers
like Bull Connor out there, no club-wielding
Pinkerton thugs. Just a small band of older black men and women, a
group characterized less by malice or calculation
than by fear and small greeds. People like Mr. Anderson, the Altgeld
project manager, a balding, older man one year
short of retirement. Or Mrs. Reece, a plump woman with a pincushion
face who was president of the official tenant
council and spent most of her time protecting the small prerogatives
that came with her office: a stipend and a seat at
the yearly banquet; the ability to see that her daughter got a choice
apartment, her nephew a job in the CHA
bureaucracy. Or Reverend Johnson, Mrs. Reece’s pastor and head of the
only large church in Altgeld, who, the first and
only time that we met, had stopped me the minute I mentioned the word
organizing."
If Obama offended you by labeling people like Bull Connor
(http://en.wikipedia.org/wiki/Bull_Connor)
cigar-chomping crackers, ask Mommy for a hanky.
>'I found a solace in nursing a pervasive sense of grievance and
>animosity against my mother's race.'..;.Osama Hussein Obama
>His mother's race was WHITE in case you forgot.
False quote. See
http://www.factcheck.org/askfactcheck/did_obama_write_that_he_would_stand.html
which debunks most of these out of context quotes.
If anyone would like to see the context of any of the above Obama
"quotes", just ask.
>
>Oh, he claims to be a Christian. Yeah, right.
The following is the Audacity of Hope sermon which moved Obama to
tears.
--------------------------------------------------------------
As the congregation joined in, the deacons, then Reverend Wright,
appeared beneath the large cross that hung from
the rafters. The reverend remained silent while devotions were read,
scanning the faces in front of him, watching the
collection basket pass from hand to hand. When the collection was
over, he stepped up to the pulpit and read the names
of those who had passed away that week, those who were ailing, each
name causing a flutter somewhere in the crowd,
the murmur of recognition.
“Let us join hands,” the reverend said, “as we kneel and pray at the
foot of an old rugged cross-”
“Yes…”
“Lord, we come first to thank you for what you’ve already done for
us…. We come to thank you most of all for Jesus.
Lord, we come from different walks of life. Some considered high, and
some low…but all on equal ground at the foot
of this cross. Lord, thank you! For Jesus, Lord…our burden bearer and
heavy load sharer, we thank you….”
The title of Reverend Wright’s sermon that morning was “The Audacity
of Hope.” He began with a passage from the
Book of Samuel-the story of Hannah, who, barren and taunted by her
rivals, had wept and shaken in prayer before her
God. The story reminded him, he said, of a sermon a fellow pastor had
preached at a conference some years before, in
which the pastor described going to a museum and being confronted by a
painting titled Hope.
“The painting depicts a harpist,” Reverend Wright explained, “a
woman who at first glance appears to be sitting atop a
great mountain. Until you take a closer look and see that the woman is
bruised and bloodied, dressed in tattered rags,
the harp reduced to a single frayed string. Your eye is then drawn
down to the scene below, down to the valley below,
where everywhere are the ravages of famine, the drumbeat of war, a
world groaning under strife and deprivation.
“It is this world, a world where cruise ships throw away more food
in a day than most residents of Port-au-Prince see
in a year, where white folks’ greed runs a world in need, apartheid in
one hemisphere, apathy in another
hemisphere…That’s the world! On which hope sits!”
And so it went, a meditation on a fallen world. While the boys next
to me doodled on their church bulletin, Reverend
Wright spoke of Sharpsville and Hiroshima, the callousness of policy
makers in the White House and in the State
House. As the sermon unfolded, though, the stories of strife became
more prosaic, the pain more immediate. The
reverend spoke of the hardship that the congregation would face
tomorrow, the pain of those far from the mountain-top,
worrying about paying the light bill. But also the pain of those
closer to the metaphorical summit: the middle-class
woman who seems to have all her worldly needs taken care of but whose
husband is treating her like “the maid, the
household service, the jitney service, and the escort service all
rolled into one”; the child whose wealthy parents worry
more about “the texture of hair on the outside of the head than the
quality of education inside the head.”
“Isn’t that…the world that each of us stands on?”
“Yessuh!”
“Like Hannah, we have known bitter times! Daily, we face rejection
and despair!”
“Say it!”
“And yet consider once again the painting before us. Hope! Like
Hannah, that harpist is looking upwards, a few faint
notes floating upwards towards the heavens. She dares to hope…. She
has the audacity…to make music…and praise
God…on the one string…she has left!”
People began to shout, to rise from their seats and clap and cry
out, a forceful wind carrying the reverend’s voice up
into the rafters. As I watched and listened from my seat, I began to
hear all the notes from the past three years swirl
about me. The courage and fear of Ruby and Will. The race pride and
anger of men like Rafiq. The desire to let go, the
desire to escape, the desire to give oneself up to a God that could
somehow put a floor on despair.
And in that single note-hope!-I heard something else; at the foot of
that cross, inside the thousands of churches across
the city, I imagined the stories of ordinary black people merging with
the stories of David and Goliath, Moses and
Pharaoh, the Christians in the lion’s den, Ezekiel’s field of dry
bones. Those stories-of survival, and freedom, and
hope-became our story, my story; the blood that had spilled was our
blood, the tears our tears; until this black church,
on this bright day, seemed once more a vessel carrying the story of a
people into future generations and into a larger
world. Our trials and triumphs became at once unique and universal,
black and more than black; in chronicling our
journey, the stories and songs gave us a means to reclaim memories
that we didn’t need to feel shamed about,
memories more accessible than those of ancient Egypt, memories that
all people might study and cherish-and with
which we could start to rebuild. And if a part of me continued to feel
that this Sunday communion sometimes
simplified our condition, that it could sometimes disguise or suppress
the very real conflicts among us and would fulfill
its promise only through action, I also felt for the first time how
that spirit carried within it, nascent, incomplete, the
possibility of moving beyond our narrow dreams.
“The audacity of hope! I still remember my grandmother, singing in
the house, ‘There’s a bright side
somewhere…don’t rest till you find it….’”
“That’s right!”
“The audacity of hope! Times when we couldn’t pay the bills. Times
when it looked like I wasn’t ever going to
amount to anything…at the age of fifteen, busted for grand larceny
auto theft…and yet and still my momma and daddy
would break into a song…
Thank you, Jesus. Thank you, Jesus.
Thank you, Jesus. Thank you, Jesus.
Thank you, Je-sus,
Thank you, Lo-ord.
You brought me fro-om
A mighty long way, mighty long way.
“And it made no sense to me, this singing! Why were they thanking
Him for all of their troubles? I’d ask myself. But
see, I was only looking at the horizontal dimension of their lives!”
“Tell it now!”
“I didn’t understand that they were talking about the vertical
dimension! About their relationship to God! I didn’t
understand that they were thanking Him in advance for all that they
dared to hope for in me! Oh, I thank you, Jesus, for
not letting go of me when I let go of you! Oh yes, Jesus, I thank
you….”
As the choir lifted back up into song, as the congregation began to
applaud those who were walking to the altar to
accept Reverend Wright’s call, I felt a light touch on the top of my
hand. I looked down to see the older of the two boy
sitting beside me, his face slightly apprehensive as he handed me a
pocket tissue. Beside him, his mother glanced at me
with a faint smile before turning back toward the altar. It was only
as I thanked the boy that I felt the tears running
down my cheeks.
“Oh, Jesus,” I heard the older woman beside me whisper softly.
“Thank you for carrying us this far.”
---------------------------------------------------
TypicalWh...@mailcity.com
All started on Clinton's watch.
I see why you call yourself "slo".