The Real Culprits In This Financial Meltdown
saltyfi...@gmail.com
By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20
PM PT
Big Government: Barack Obama and Democrats blame the historic
financial turmoil on the market. But if it's dysfunctional, Democrats
during the Clinton years are a prime reason for it.
Obama in a statement yesterday blamed the shocking new round of
subprime-related bankruptcies on the free-market system, and
specifically the "trickle-down" economics of the Bush administration,
which he tried to gig opponent John McCain for wanting to extend.
But it was the Clinton administration, obsessed with multiculturalism,
that dictated where mortgage lenders could lend, and originally helped
create the market for the high-risk subprime loans now infecting like
a retrovirus the balance sheets of many of Wall Street's most revered
institutions.
Tough new regulations forced lenders into high-risk areas where they
had no choice but to lower lending standards to make the loans that
sound business practices had previously guarded against making. It was
either that or face stiff government penalties.
The untold story in this whole national crisis is that President
Clinton put on steroids the Community Redevelopment Act, a well-
intended Carter-era law designed to encourage minority homeownership.
And in so doing, he helped create the market for the risky subprime
loans that he and Democrats now decry as not only greedy but
"predatory."
Yes, the market was fueled by greed and overleveraging in the
secondary market for subprimes, vis-a-vis mortgaged-backed securities
traded on Wall Street. But the seed was planted in the '90s by Clinton
and his social engineers. They were the political catalyst behind this
slow-motion financial train wreck.
And it was the Clinton administration that mismanaged the quasi-
governmental agencies that over the decades have come to manage the
real estate market in America.
As soon as Clinton crony Franklin Delano Raines took the helm in 1999
at Fannie Mae, for example, he used it as his personal piggy bank,
looting it for a total of almost $100 million in compensation by the
time he left in early 2005 under an ethical cloud.
Other Clinton cronies, including Janet Reno aide Jamie Gorelick,
padded their pockets to the tune of another $75 million.
Raines was accused of overstating earnings and shifting losses so he
and other senior executives could earn big bonuses.
In the end, Fannie had to pay a record $400 million civil fine for SEC
and other violations, while also agreeing as part of a settlement to
make changes in its accounting procedures and ways of managing risk.
But it was too little, too late. Raines had reportedly steered Fannie
Mae business to subprime giant Countrywide Financial, which was saved
from bankruptcy by Bank of America.
At the same time, the Clinton administration was pushing Fannie and
her brother Freddie Mac to buy more mortgages from low-income
households.
The Clinton-era corruption, combined with unprecedented catering to
affordable-housing lobbyists, resulted in today's nationalization of
both Fannie and Freddie, a move that is expected to cost taxpayers
tens of billions of dollars.
And the worst is far from over. By the time it is, we'll all be paying
for Clinton's social experiment, one that Obama hopes to trump with a
whole new round of meddling in the housing and jobs markets. In fact,
the social experiment Obama has planned could dwarf both the Great
Society and New Deal in size and scope.
There's a political root cause to this mess that we ignore at our
peril. If we blame the wrong culprits, we'll learn the wrong lessons.
And taxpayers will be on the hook for even larger bailouts down the
road.
But the government-can-do-no-wrong crowd just doesn't get it. They
won't acknowledge the law of unintended consequences from well-
meaning, if misguided, acts.
Obama and Democrats on the Hill think even more regulation and more
interference in the market will solve the problem their policies
helped cause. For now, unarmed by the historic record, conventional
wisdom is buying into their blame-business-first rhetoric and bigger-
government solutions.
While government arguably has a role in helping low-income folks buy a
home, Clinton went overboard by strong-arming lenders with tougher and
tougher regulations, which only led to lenders taking on hundreds of
billions in subprime bilge.
Market failure? Hardly. Once again, this crisis has government's
fingerprints all over it.
http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709
barnegatdx
John McCain Monday insisted US economic "fundamentals" were strong
despite a banking crisis and Wall Street meltdown, prompting a
scathing rebuke from his White House foe Barack Obama.
"Senator McCain, what economy are you talking about?" Democratic
candidate Obama said after the Lehman Brothers bankruptcy sent fear
across the globe and spooked investors, wiping 500 points off the Dow
Jones Industrial Average.
http://www.breitbart.com/article.php?id=080915232011.rxlcnsp5&show_article=1
saltyfi...@gmail.com
knowledgable about "Economics" than any Socialist "Community
Organizer" can ever know.
Unemployment is approaching the average mean and has been historically
BELOW AVERAGE for a number of years.
Thanks to Clinton the Mean will be reproached.
Senator McCain is absolutely correct - U.S. economic "fundamentals"
are sound.
If it were not the soveirgn debt rating for the US Treasuries, the
U.S. Dollar, would plummet. That hasn't happened and won't so long as
Socialist Liberal Fascism does not take over the economy.
Enjoy your Socialist soup bowl.
Dave
> Senator McCain, his wife, and Sarah Palin are infinately more
> knowledgable about "Economics" than any Socialist "Community
> Organizer" can ever know.
>
> Unemployment is approaching the average mean and has been historically
> BELOW AVERAGE for a number of years.
>
employed. Government statistics are worthless. We are the Soviets of
50 years ago.
saltyfi...@gmail.com
wrote:
>
> The Bush Regime counts anyone who works one hour a month as fully
> employed. Government statistics are worthless. We are the Soviets of
> 50 years ago.
> The Bush Regime counts anyone who works one hour a month as fully
> employed.
Dr.DaviD, Ph.D, can't even manage a single hour's worth of honest work
- a true Soviet Patriot!
Bernard Peters
> The Real Culprits In This Meltdown
>
> By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM
> PT
>
> Big Government: Barack Obama and Democrats blame the historic financial
> turmoil on the market. But if it's dysfunctional, Democrats during the
> Clinton years are a prime reason for it.
>
Keep drinking that cool-aid...
Republican'ts deregulated both fannie and fredie and they had their
cronies in there even more then the dems. I don't know about you but
unless your very rich, I (as well as many others) were allot better off
under Clinton then Bush.
RHF
Top Recipients of Fannie Mae and Freddie Mac Payola
-aka- Campaign Contributions, 1989-2008
http://en.wikipedia.org/wiki/Payola
http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html
.
Federal Election Commission has ruled on Illegal Campaign
Contributions
as far back as 2006.
.
Fannie Mae Bonuses to Franklin Raines -aka- FDR
[D-CEO] Carter & Clinton Administrations
http://en.wikipedia.org/wiki/Franklin_Raines
and Timothy Howard [D-CFO]
http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfo
http://www.usatoday.com/money/companies/management/2004-12-21-fannie_x.htm
http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
.
Ralph Nader -reports- on Fannie Mae's Franklin Raines
{$90M in Compensation} and Timothy Howard {$30M
in Compensation}
http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Cox-Regarding-Fannie-Mae.html
.
Payola # 1 - Chris Dodd [D-CT] $133,900
.
Federal National Mortgage Association (FNMA)
http://en.wikipedia.org/wiki/Fannie_Mae
-aka- Fannie Mae founded by FDR and the Democrat
Controlled US Congress in 1938
.
Federal Home Loan Mortgage Corporation (FHLMC)
http://en.wikipedia.org/wiki/Freddie_Mac
-aka- Freddie Mac founded by RMN and the Democrat
Controlled US Congress in 1970
.
Bernard Peters
THINK FOR YOURSELF FOR ONE MOMENT!! and stop googling!
Who deregulated the industry years ago, raped it, then moved on...
dxAce
Bernard Peters wrote:
> On Tue, 16 Sep 2008 16:17:11 -0700, RHF wrote:
>
> > On Sep 16, 12:17Ā pm, Bernard Peters <s...@boom.bang> wrote:
> >> On Tue, 16 Sep 2008 05:33:46 -0700, saltyfishsauce wrote:
> >> > The Real Culprits In This Meltdown
> >>
> >> > By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20
> >> > PM PT
> >>
> >> > Big Government: Barack Obama and Democrats blame the historic
> >> > financial turmoil on the market. But if it's dysfunctional, Democrats
> >> > during the Clinton years are a prime reason for it.
> >>
> >> Keep drinking that cool-aid...
> >>
> >> Republican'ts deregulated both fannie and fredie and they had their
> >> cronies in there even more then the dems. Ā I don't know about you but
You should follow your own advice! And if you did, you wouldn't vote for the
Liberal/Democrat/Marxist who is currently using the name 'Barack Hussein Obama'.
RHF
> On Tue, 16 Sep 2008 16:17:11 -0700, RHF wrote:
> > On Sep 16, 12:17 pm, Bernard Peters <s...@boom.bang> wrote:
> >> On Tue, 16 Sep 2008 05:33:46 -0700, saltyfishsauce wrote:
> >> > The Real Culprits In This Meltdown
>
> >> > By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20
> >> > PM PT
>
> >> > Big Government: Barack Obama and Democrats blame the historic
> >> > financial turmoil on the market. But if it's dysfunctional, Democrats
> >> > during the Clinton years are a prime reason for it.
>
> >> Keep drinking that cool-aid...
>
> >> Republican'ts deregulated both fannie and fredie and they had their
> >> cronies in there even more then the dems. I don't know about you but
> >> unless your very rich, I (as well as many others) were allot better off
> >> under Clinton then Bush.
> > .
> > Top Recipients of Fannie Mae and Freddie Mac Payola -aka- Campaign
> >http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-
> fanni.html
> > .
> > Federal Election Commission has ruled on Illegal Campaign Contributions
> > as far back as 2006.
> > .
> > Fannie Mae Bonuses to Franklin Raines -aka- FDR [D-CEO] Carter & Clinton
> > Howard [D-CFO]
> >http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfo
> >http://www.usatoday.com/money/companies/management/2004-12-21-
> fannie_x.htm
> >http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
> > .
> > Ralph Nader -reports- on Fannie Mae's Franklin Raines {$90M in
> > Compensation} and Timothy Howard {$30M in Compensation}
> >http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Cox-
>
> Regarding-Fannie-Mae.html
>
> > .
> > Payola # 1 - Chris Dodd [D-CT] $133,900
> > .
> > Federal National Mortgage Association (FNMA)
> > and the Democrat Controlled US Congress in 1938
> > .
> > Federal Home Loan Mortgage Corporation (FHLMC)
> > RMN and the Democrat Controlled US Congress in 1970
> > .
- THINK FOR YOURSELF FOR ONE MOMENT!! and stop googling!
1- Carter [D] & Clinton [D] Administrations
- Who deregulated the industry years ago, raped it,
- then moved on...
2 - Democrat Controlled US Congress
salty...@gmail.com
RHF
- See details of all 382 scandals at:
- http://www.netrootsmass.net/Hugh/Bush_list.html
tO tHE fAKE pHONY sALTY fISH sAUSE,
Dishonestly Using someone elses Screen ID is just
another example of Democrat Dirty Tricks and Nasty
Obama Campaign Tactics all the while neglecting the
Facts Confronting the USA and Issues Facing Americans.
* Democrat Dirty Tricks : Personal Smears
* Nasty Obama Campaign Tactics : Attacks On Their Families
get real and manufacture your own lies
under your own name ~ RHF
.
OK-no...@oakie.net
wrote:
Here you are Mr. Salty-Dog-Fish. the real story behind the mortgage
mess. But, being a re-pub troll/ shill, you won't read this. Just
drink that kool-aide.
OJ.
McCain and the Mortgage Meltdown
By Robert Scheer September 10, 2008
Ignorance is bliss, which perhaps explains Gov. Sarah Palin being so
confidently wrong about the root cause of the federalization of most
of the
nation's mortgage market. But what is Senator John McCain's excuse?
Both act
as if the financial meltdown of the US economy has nothing to do with
the
policies of the political party they represent--but she at least may
not
know any better.
Distracted momentarily from her campaign revelries of maverick
opposition to
the "bridge to nowhere," which she had supported until it became a
public
relations debacle, and congressional earmarks for which she, as a
small-town
mayor, had hustled piggishly at the federal trough, Palin made the
mistake
of dealing with an unscripted subject.
Referring to the government's bailout of Fannie Mae and Freddie Mac,
Palin
opined that the two had "gotten too big and too expensive to the
taxpayers,"
displaying abysmal ignorance of the fact that only now will those
privately
owned banks become a huge taxpayer obligation, as the federal
government
takes them over. Nor can the meltdown of home values be traced to
those two
beleaguered institutions, because they did not make the original
subprime
mortgage commitments.
The housing bubble was the result of the Ponzi-scheme antics of those
other
financial entities: commercial banks, stockbrokers and hedge funds,
which
were allowed in a GOP-deregulated market to get into the "swap"
business.
Through the rampant reselling of loans, the obligation to collect on a
loan
was divorced from the act of selling it in the first place, so who
cared if
the recipient of the loan was not at all qualified or the appraisal of
the
property value was inflated, as long as the paper was traded away, or
insured, before the moment of foreclosure?
As with any Ponzi scheme, the perps, who included the legislators as
well as
the bankers who exploited the loopholes they provided, expected to
bail long
before the bubble burst. The role of the legislators, Republican-led
but
with far too many Democratic running dogs, was critical to the success
of
the scam.
The mortgage swaps distancing the originator of the loan from the
ultimate
collector were made legal only as a result of the Commodity Futures
Modernization Act, which former Senator Phil Gramm, R-Texas, pushed
through
Congress just hours before the 2000 Christmas recess. Gramm, until
recently
co-chair of the McCain campaign, also had co-authored the
Gramm-Leach-Bliley
Act, which became law in 1999 with President Bill Clinton's signature.
That
gem, which Gramm had pushed for years with massive financial industry
lobbying, destroyed the Depression-era barrier to the merger of
stockbrokers, banks and insurance companies. Those two acts
effectively
ended significant regulation of the financial community, and no wonder
we
have witnessed an even more rapid and severe meltdown in housing
values than
during the Great Depression.
Not surprisingly, Gramm was rewarded for his service upon retirement
as a
senator and as head of the Senate Banking Committee with a top
position at
the Swiss-based UBS bank, which is close to drowning in the subprime
mortgage nightmare he helped create. These folks have no shame, as was
evidenced when the senator's wife, Wendy, was named a director of
Enron,
whose roiling of the energy market had been made possible only through
yet
another provision of Gramm's Commodity Futures Modernization Act.
While neophyte Palin can claim ignorance of such matters, that would
be
particularly difficult for McCain, who as a senator consistently lined
up
with Gramm in his deregulation crusade. Clearly McCain had not learned
much
from his previous involvement with the savings-and-loan debacle about
the
risks to consumers in unregulated banking.
McCain served as chair of Gramm's abortive 1996 presidential campaign,
and
Gramm returned the favor, providing critical support for McCain with
the
hard-line Republican base, including the editorial board of the Wall
Street
Journal. It was assumed in the business press that Gramm was the
front-runner to be Treasury secretary in a McCain Administration.
Gramm left
his role as the top economic person near McCain only after he made an
embarrassing statement blaming the current economic downturn on
"whiners,"
an awkward reference to the victims of his disastrous legislation.
Amazingly, the turmoil in the housing market, which has led to the
socialization of the nation's revered homeownership market in a
massive
expansion of the role of big government, has apparently not troubled
McCain's conservative supporters. As I said, ignorance is bliss, and
evidently not just for the newbie Palin.
Billy Burpelson
> Senator McCain is absolutely correct - U.S. economic "fundamentals"
> are sound.
Fish Breath,
Don't you see the irony here?
If the U.S. economy really was "fundamentally sound" as you and McCain
would have us believe, we wouldn't need to be having this discussion.
The feces are -REALLY- hitting the fan. BIG companies going bankrupt on
an almost daily basis, being nationalized, being sold at fire sale
prices, "Bank Holidays" like 1929 on some money market funds and when
the "holiday" is over, only giving the depositor 97% of their money
back, the country living on borrowed money for the last decade or
longer. This country is in deep doo-doo. (Heck of a job, Georgie!)
If you consider what is happening as an indication of being
"fundamentally sound", IMHO you're a really strange person. (Well,
OK...you're probably strange anyway).
RHF
-aka- Campaign Contributions, 1989-2008
http://en.wikipedia.org/wiki/Payola
http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html
.
Federal Election Commission has ruled on Illegal Campaign
Contributions
as far back as 2006.
.
Fannie Mae Bonuses to Franklin Raines -aka- FDR
[D-CEO] Carter & Clinton Administrations
http://en.wikipedia.org/wiki/Franklin_Raines
and Timothy Howard [D-CFO]
http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfo
http://www.usatoday.com/money/companies/management/2004-12-21-fannie_x.htm
http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
.
Ralph Nader -reports- on Fannie Mae's Franklin Raines
{$90M in Compensation} and Timothy Howard {$30M
in Compensation}
http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Cox-Regarding-Fannie-Mae.html
.
.
Federal National Mortgage Association (FNMA)
http://en.wikipedia.org/wiki/Fannie_Mae
-aka- Fannie Mae founded by FDR and the Democrat
Controlled US Congress in 1938
.
Federal Home Loan Mortgage Corporation (FHLMC)
http://en.wikipedia.org/wiki/Freddie_Mac
-aka- Freddie Mac founded by RMN and the Democrat
Controlled US Congress in 1970
.
On Sep 16, 4:17 pm, RHF <rhf-newsgro...@pacbell.net> wrote:
> On Sep 16, 12:17 pm, Bernard Peters <s...@boom.bang> wrote:
>
>
>
> > On Tue, 16 Sep 2008 05:33:46 -0700, saltyfishsauce wrote:
> > > The Real Culprits In This Meltdown
>
> > > By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM
> > > PT
>
> > > Big Government: Barack Obama and Democrats blame the historic financial
> > > turmoil on the market. But if it's dysfunctional, Democrats during the
> > > Clinton years are a prime reason for it.
>
> > Keep drinking that cool-aid...
>
> > Republican'ts deregulated both fannie and fredie and they had their
> > cronies in there even more then the dems. I don't know about you but
> > unless your very rich, I (as well as many others) were allot better off
> > under Clinton then Bush.
>
> .
> Top Recipients of Fannie Mae and Freddie Mac Payola
> -aka- Campaign Contributions, 1989-2008http://en.wikipedia.org/wiki/Payolahttp://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fann...
> .
> Federal Election Commission has ruled on Illegal Campaign
> Contributions
> as far back as 2006.
> .
> Fannie Mae Bonuses to Franklin Raines -aka- FDR
> [D-CEO] Carter & Clinton Administrationshttp://en.wikipedia.org/wiki/Franklin_Raines
> and Timothy Howard [D-CFO]http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfohttp://www.usatoday.com/money/companies/management/2004-12-21-fannie_...http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
> .
> Ralph Nader -reports- on Fannie Mae's Franklin Raines
> {$90M in Compensation} and Timothy Howard {$30M
> in Compensation}http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Co...
> .
> Payola # 1 - Chris Dodd [D-CT] $133,900
> .
> Federal National Mortgage Association (FNMA)http://en.wikipedia.org/wiki/Fannie_Mae
> -aka- Fannie Mae founded by FDR and the Democrat
> Controlled US Congress in 1938
> .
> Federal Home Loan Mortgage Corporation (FHLMC)http://en.wikipedia.org/wiki/Freddie_Mac
> -aka- Freddie Mac founded by RMN and the Democrat
> Controlled US Congress in 1970
> .- Hide quoted text -
>
> - Show quoted text -
salty...@gmail.com
http://www.netrootsmass.net/Hugh/Bush_list.html
RHF
- - - Filter It ! - Just Say NO to the Obamanation - - -
RHF
-aka- Campaign Contributions, 1989-2008
http://en.wikipedia.org/wiki/Payola
http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html
.
Federal Election Commission has ruled on Illegal Campaign
Contributions
as far back as 2006.
.
Fannie Mae Bonuses to Franklin Raines -aka- FDR
[D-CEO] Carter & Clinton Administrations
http://en.wikipedia.org/wiki/Franklin_Raines
and Timothy Howard [D-CFO]
http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfo
http://www.usatoday.com/money/companies/management/2004-12-21-fannie_x.htm
http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
.
Ralph Nader -reports- on Fannie Mae's Franklin Raines
{$90M in Compensation} and Timothy Howard {$30M
in Compensation}
http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Cox-Regarding-Fannie-Mae.html
.
.
Federal National Mortgage Association (FNMA)
http://en.wikipedia.org/wiki/Fannie_Mae
-aka- Fannie Mae founded by FDR and the Democrat
Controlled US Congress in 1938
.
Federal Home Loan Mortgage Corporation (FHLMC)
http://en.wikipedia.org/wiki/Freddie_Mac
-aka- Freddie Mac founded by RMN and the Democrat
Controlled US Congress in 1970
.
On Sep 17, 10:09 pm, RHF <rhf-newsgro...@pacbell.net> wrote:
> Top Recipients ofFannieMae and Freddie Mac Payola
> -aka- Campaign Contributions, 1989-2008http://en.wikipedia.org/wiki/Payolahttp://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fann...
> .
> Federal Election Commission has ruled on Illegal Campaign
> Contributions
> as far back as 2006.
> .FannieMae Bonuses to Franklin Raines -aka- FDR
> [D-CEO] Carter & Clinton Administrationshttp://en.wikipedia.org/wiki/Franklin_Raines
> and Timothy Howard [D-CFO]http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfohttp://www.usatoday.com/money/companies/management/2004-12-21-fannie_...http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
> .
> Ralph Nader -reports- onFannieMae's Franklin Raines
> {$90M in Compensation} and Timothy Howard {$30M
> in Compensation}http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Co...
> .
> Payola # 2 - John 'ff' Kerry [D-MA] $111,000
> .
> Federal National Mortgage Association (FNMA)http://en.wikipedia.org/wiki/Fannie_Mae
> -aka-FannieMae founded by FDR and the Democrat
> Controlled US Congress in 1938
> .
> Federal Home Loan Mortgage Corporation (FHLMC)http://en.wikipedia.org/wiki/Freddie_Mac
> -aka- Freddie Mac founded by RMN and the Democrat
> Controlled US Congress in 1970
> .
>
> On Sep 16, 4:17 pm,RHF<rhf-newsgro...@pacbell.net> wrote:
>
>
>
> > On Sep 16, 12:17 pm, Bernard Peters <s...@boom.bang> wrote:
>
> > > On Tue, 16 Sep 2008 05:33:46 -0700, saltyfishsauce wrote:
> > > > The Real Culprits In This Meltdown
>
> > > > By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM
> > > > PT
>
> > > > Big Government: Barack Obama and Democrats blame the historic financial
> > > > turmoil on the market. But if it's dysfunctional, Democrats during the
> > > > Clinton years are a prime reason for it.
>
> > > Keep drinking that cool-aid...
>
> > > Republican'ts deregulated bothfannieand fredie and they had their
> > > cronies in there even more then the dems. I don't know about you but
> > > unless your very rich, I (as well as many others) were allot better off
> > > under Clinton then Bush.
>
> > .
> > Top Recipients ofFannieMae and Freddie Mac Payola
> > -aka- Campaign Contributions, 1989-2008http://en.wikipedia.org/wiki/Payolahttp://www.opensecrets.org/news/20......
> > .
> > Federal Election Commission has ruled on Illegal Campaign
> > Contributions
> > as far back as 2006.
> > .
> >FannieMae Bonuses to Franklin Raines -aka- FDR
> > [D-CEO] Carter & Clinton Administrationshttp://en.wikipedia.org/wiki/Franklin_Raines
> > and Timothy Howard [D-CFO]http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfohttp://ww...
> > .
> > Ralph Nader -reports- onFannieMae's Franklin Raines
> > {$90M in Compensation} and Timothy Howard {$30M
> > in Compensation}http://nader.org/template.php?/archives/669-Letter-to-SEC-Chairman-Co...
> > .
> > Payola # 1 - Chris Dodd [D-CT] $133,900
> > .
> > Federal National Mortgage Association (FNMA)http://en.wikipedia.org/wiki/Fannie_Mae
> > -aka-FannieMae founded by FDR and the Democrat
> > Controlled US Congress in 1938
> > .
> > Federal Home Loan Mortgage Corporation (FHLMC)http://en.wikipedia.org/wiki/Freddie_Mac
> > -aka- Freddie Mac founded by RMN and the Democrat
> > Controlled US Congress in 1970
> > .- Hide quoted text -
>
> > - Show quoted text -- Hide quoted text -
rhf...@gmail.com
> See Complete Republican Administration Corruption and Scandal List athttp://www.netrootsmass.net/Hugh/Bush_list.html/
RHF
Payola @ $133,900 Says NO to Any Federal Bail-Outs - delay, Delay.
DELAY ! until After the Election
.
No Wonder They Call It a DO NOTHING CONGRESS !
>
>
>
> > On Tue, 16 Sep 2008 05:33:46 -0700, saltyfishsauce wrote:
> > > The Real Culprits In This Meltdown
>
> > > By INVESTOR'S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM
> > > PT
>
> > > Big Government: Barack Obama and Democrats blame the historic financial
> > > turmoil on the market. But if it's dysfunctional, Democrats during the
> > > Clinton years are a prime reason for it.
>
> > Keep drinking that cool-aid...
>
> > Republican'ts deregulated both fannie and fredie and they had their
> > cronies in there even more then the dems. I don't know about you but
> > unless your very rich, I (as well as many others) were allot better off
> > under Clinton then Bush.
>
> .
> Top Recipients of Fannie Mae and Freddie Mac Payola
> .
> Federal Election Commission has ruled on Illegal Campaign
> Contributions
> as far back as 2006.
> .
> Fannie Mae Bonuses to Franklin Raines -aka- FDR
> and Timothy Howard [D-CFO]http://www.cfo.com/article.cfm/3598464/c_3619616?f=insidecfohttp://www.usatoday.com/money/companies/management/2004-12-21-fannie_...http://www.mortgagenewsdaily.com/6152006_Fannie_Mae_Bonuses.asp
> .
> Ralph Nader -reports- on Fannie Mae's Franklin Raines
> {$90M in Compensation} and Timothy Howard {$30M
> .
> Federal National Mortgage Association (FNMA)http://en.wikipedia.org/wiki/Fannie_Mae
> -aka- Fannie Mae founded by FDR and the Democrat
> Controlled US Congress in 1938
> .
> -aka- Freddie Mac founded by RMN and the Democrat
> Controlled US Congress in 1970