1998:
Banks begin making thousands of bad loans, 0 down, no documentation, for
120% (1998 - 2008). Executives at Fannie receive huge bonuses if loan
targets are met. Franklin Raines and Jamie Garelick from the Clinton
Administration are appointed to run Fannie Mae.
2003:
President Bush proposes a new oversight committee to clean up Fannie
Mae, but Democrats derail the effort. Rep. Melvyn Watt, (D-NC)
Committee on Financial Institutions & Consumer Credit stated, �I don�t
see much other than weakening the bargaining power of poorer families to
get affordable housing.�
1999-2004:
Raines earns $100 million in bonuses. Garelick earns $75 million in
bonuses. In 2004, Enron collapses, congress investigates, Executives
Skilling & Lay go to jail for fraudulent bookkeeping. Congress responds
with the Sorbanes-Oxley Act, more heavy regulation of corporations
2004:
An Office of Federal Housing Enterprise Oversight investigation finds
massive fraudulent bookkeeping at Fannie Mae. False numbers triggered
executive bonuses every year. Congress holds no hearings, no one goes
to jail, or is punished. WHY NOT?
1999 - 2005
Fannie Mae gives millions to Democratic causes, examples: Jesse Jackson
& ACORN. Fannie Mae pays millions to 354 Congressmen and Senators, from
both parties. Who got the most money?
Top Four Recipients:
Sen. Christopher Dodd, (D-CT) Chairman of the Banking, Housing, & Urban
Affairs Committee
Sen. Barack Obama, (D-IL) Federal Financial Management Committee
Sen. Chuck Schumer, (D-NY) Chairman of the Finance Committee
Rep. Barney Frank, (D-MA) Chairman of the House Financial Services
Committee
2005:
Franklin Raines & top execs are forced to resign from Fannie Mae.
They DO NOT go to jail� There is no media �perp walk.� They keep all
of their bonuses. They finally pay $31.4 million in civil fines.
The Federal Housing Enterprise Regulatory Reform Act is sponsored by:
#325 - Sen. John McCain, (R-AZ) Armed Services & Commerce, Science &
Transportation
McCain said, �If Congress does not act, American taxpayers will continue
to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose
to the housing market, the overall financial system, and the economy as
a whole.�
NONE of the Top Four Recipients support the legislation
The Reform Act is blocked by Democrats, never even making it out of
committee NONE of the politicians return ANY of the money, tainted by
fraud.
2008:
Fannie Mae & Freddie Mac goes bankrupt and the Govt. takes them over
COMPLETELY. Lehman Brothers goes bankrupt from investing in bad
mortgages. AIG gets $85 million in loan guarantees, after insuring bad
loans & projects Taxpayers will ultimately pay BILLIONS! Franklin
Raines has given advise to the Obama Campaign which wants the Govt. to
take over more of the economy.
"Harold Burton" <hal.i....@hotmail.com> wrote in message
news:hal.i.burton-142C...@comcast.dca.giganews.com...
> They DO NOT go to jailS There is no media �perp walk.� They keep all
the leftbots dont care - to them it is ALL about hating Bush
http://www.youtube.com/watch?v=rqs_2CVcWb0
who favors regulation? who opposed it?
.
Please show us how Clinton --- by himself -- as you posted --- loosened Home
Loan Requirements in 1997.
Don't let facts get in your way.
It was 109th Congress (Republican majority) , when the bill was introduced
(Federal Housing Enterprise Regulatory Reform Act of 2005.)
It then went to the Committee on Banking, Housing, and Urban Affairs on Jul
28, 2005.
http://www.govtrack.us:80/congress/bill.xpd?bill=s109-190
Republicans were the majority in the committee by 2 members. It was
Republican Santorum which proposed the amendments.
http://banking.senate.gov/public/_files/s190_amd3.pdf
The bill was killed technically by Republicans. It is now bill S1100. Which
was read twice and referred to the Committee on Banking, Housing, and
Urban Affairs on Apr 12, 2007:
http://www.govtrack.us/congress/bill.xpd?bill=s110-1100
Meanwhile. Democrats sponsered H.R. 1427. It has gone through the steps,
and awaiting voting in the Senate.
Introduced March 9, 2007 , Scheduled for Debate March 29, 2007, Amendments,
and passed the House.
http://www.govtrack.us/congress/bill.xpd?bill=h110-1427#votes
Of course it was Bush, along with McCain who wanted this deregulation to
begin with. Bush was thumping his chest, crowing like a roster, taking
credit for it in 2003, now attempts to explain what
happened. He gave money away for downpayments, and the only way people
could get financing was through.......guess who....GSEs, and ARMs at that.
The first ARM came due in 3 years, tada....2006, ironically when problems
start arising.
http://www.whitehouse.gov:80/news/releases/2003/12/20031216-9.html
President Bush Signs American Dream Downpayment Act of 2003
Both houses ruled by Republicans.
History of Republican disasters:
Harding
Hoover
Nixon
Ford
Reagan
Bush
Bush
> "Harold Burton" <hal.i....@hotmail.com> wrote in message
> news:hal.i.burton-142C...@comcast.dca.giganews.com...
>
> History of DemocRAT wars:
Wilson
Roosevelt
Truman
Johnson
snicker.
>
>"Harold Burton" <hal.i....@hotmail.com> wrote in message
>news:hal.i.burton-142C...@comcast.dca.giganews.com...
>> 1997:
>> Fannie Mae is a GSE (Govt. Sponsored Entity) regulated by Congress.
>> Fannie Mae buys mortgages from other companies. It is backed by the
>> taxpayers for all losses, but keeps all profits!!! President Clinton
>> loosens Home Loan Requirements.
>>
>
>Please show us how Clinton --- by himself -- as you posted --- loosened Home
>Loan Requirements in 1997.
Andrew Cuomo was the one that actually rewrote the requirement rules
with Clinton approval.
You are all so very fond of the phrase "It happened under Bush's
watch"
Well, in this case it happened under Clinton's watch.
'A government big enough to give you everything you want, is
big enough to take away everything you have.'
"You cannot enrich the poor by impoverishing the rich."
Thank God McHamad and his pet moose will never make it.
leaving the foxes in charge of the henhouse
>
>
>
I heard a clip of Clinton saying he wanted tougher oversight on Fannie and
Freddie, but the dems kept blocking such things....
in other words, even Clinton blames the dems for the mess
>
http://www.youtube.com/watch?v=rqs_2CVcWb0
now then, who favored regulation? who opposed it?
>
>
Well, that's exactly what the left wants.
They honestly believe that if democrats had total and complete control
that they would go out and arrest all the businessmen and rich folks,
take their assets and then distribute them to their loyal followers.
It's about lazyness and greed. Leftists want the American dream as
bad as the next guy. They just think that it's owed to them as
opposed to them earning it.
> On Fri, 3 Oct 2008 11:44:13 -0700, "OneTwoThree"
> <you...@notverysmart.ru> wrote:
>
> >
> >"Sal Video" <svi...@socal.rr.com> wrote in message
> >news:_dcFk.2937$yr3....@nlpi068.nbdc.sbc.com...
> >> 2008: Republican president and congress members are thrown out on their
> >> asses
> >
> >leaving the foxes in charge of the henhouse
> >
>
> Well, that's exactly what the left wants.
> They honestly believe that if democrats had total and complete control
> that they would go out and arrest all the businessmen and rich folks,
> take their assets and then distribute them to their loyal followers.
> It's about lazyness and greed. Leftists want the American dream as
> bad as the next guy. They just think that it's owed to them as
> opposed to them earning it.
>
As opposed to those on Wall Street that just got handed a huge welfare
check??
If you are going to anything in the voting booth this election that
makes sense, don't vote for any incumbent. Any other vote sends the
wrong message to the pigs in DC and on Wall Street.
That's what I'm doing with one exception. Jerry Costello, my
representative voted NO both times. He'll get my vote.
> 2008: Republican president and congress members are thrown out on their
> asses
Wrong, but thanks for playing.
Snicker.
whatever --- Burton can't make his claim stand up...
Wall Street to Congress: Thanks, suckers!
>
> If you are going to anything in the voting booth this election that
> makes sense, don't vote for any incumbent. Any other vote sends the
> wrong message to the pigs in DC and on Wall Street.
What has amazed me throughout this last week or two is the rush to judgement
led by the very people who ranted about Bush misleading them into voting for
the war powers act, for the department of homeland secuirty, for the patriot
act. The same people! incredible1
I truly fear for the future of this country. we are handing unprecedented
power to an appointed official, someone whose name we will not know until
November at best.
>
> That's what I'm doing with one exception. Jerry Costello, my
> representative voted NO both times. He'll get my vote.
my rep is a liberal dem who voted my way the first time, but joined the
zombies and voted in favor of the Wall Street Restitution Act. I always vote
against her, but this is liberal San Francisco after all. the leftbots here
wouldn't vote an incumbent out of office if their lives depended on it.
.
.
I continue to be amazed at how you leftbots cannot do anything but blame
deregulation (still waiting to learn which republican repealed regulations
prevented lenders from making stupid loans, borrowers from lying about their
income, and brokerage firms from creating crazy derivitives and mortgage
securitizations), republicans (when there is ample evidence of dems fighting
to prevent regulation of Fannie and Freddie while republicans called for
tighter regulation) and Bush, who plays no part in the running of private
sector.
Yet many of you leftbots were out there screaming for this bailout,
swallowing hook line and sinker the plan created by a former Wall Street CEO
and pushed hard by the same president the left claims lied us into Iraq.
Amazing...........
.
>
>
Well, the econo-bozos in Washington found the easy way around that
to
make the middle class 50 years from now pay it. So that way the
wank
rich get more ghetto blaster profit, and the poor get more genuine
prefab Washington auto-aborts.
So, that's also why most modern houses look like just like GM
hubcaps.
Built to blast, not to last, and to guzzle gas.
>In article <cs1de4lkvi7quu3vb...@4ax.com>,
> Starkiller <NoSpam.S...@hotmail.com> wrote:
>
>> On Fri, 3 Oct 2008 11:44:13 -0700, "OneTwoThree"
>> <you...@notverysmart.ru> wrote:
>>
>> >
>> >"Sal Video" <svi...@socal.rr.com> wrote in message
>> >news:_dcFk.2937$yr3....@nlpi068.nbdc.sbc.com...
>> >> 2008: Republican president and congress members are thrown out on their
>> >> asses
>> >
>> >leaving the foxes in charge of the henhouse
>> >
>>
>> Well, that's exactly what the left wants.
>> They honestly believe that if democrats had total and complete control
>> that they would go out and arrest all the businessmen and rich folks,
>> take their assets and then distribute them to their loyal followers.
>> It's about lazyness and greed. Leftists want the American dream as
>> bad as the next guy. They just think that it's owed to them as
>> opposed to them earning it.
>>
>As opposed to those on Wall Street that just got handed a huge welfare
>check??
The market should have been left to itself. If the fed needed to
tighten up regulation then they should have done so, regardless of
which party initiated it. In this case we are simply paying a large
sum of money for the gov't to babysit a bunch of folks that are losing
due to their own stupidity and greed.
>
>If you are going to anything in the voting booth this election that
>makes sense, don't vote for any incumbent. Any other vote sends the
>wrong message to the pigs in DC and on Wall Street.
>
>That's what I'm doing with one exception. Jerry Costello, my
>representative voted NO both times. He'll get my vote.
BTW, have you read some of the crap in that bill that has absolutely
nothing to do with any kind of bank bailout?
I have nothing against incentives for alternative energy etc but this
bill sure as hell wasn't the place for it.
And since when does rum need PR?
Hate to beat a dead horse but that shit just amazes and dumbfounds me
every time I think about it.
These are the "wise people" that are supposed to manage our government
on our behalf. God help us.
Shelley Berkley is my Representative and she opposed the bill on
Monday and voted for the bill today. Despite being Jewish, she was
attracted to pork in the new version.
-
Q. What do Obama and Osama have in common?
A. They both have friends who bombed the Pentagon.
No -- what's amazing is how you wingnuts can't stay on topic -- I asked
Burton to prove his claim -- nothing more -- ADD must be a pain for you to
live with.
>
> .
>
>
>>
>>
>
>
> "Harold Burton" <hal.i....@hotmail.com> wrote in message
> news:hal.i.burton-142C...@comcast.dca.giganews.com...
> > 1997:
> > Fannie Mae is a GSE (Govt. Sponsored Entity) regulated by Congress.
> > Fannie Mae buys mortgages from other companies. It is backed by the
> > taxpayers for all losses, but keeps all profits!!! President Clinton
> > loosens Home Loan Requirements.
> >
>
> Please show us how Clinton --- by himself -- as you posted
No I didn't, reading comprehension is clearly not your strong point.
Wall Street to Congress: Thanks, suckers!
http://www.opensecrets.org/politicians/summary.php?cid=N00000275&cycle=2008
Real Estate $182,101
Securities & Investment $176,400
Lawyers/Law Firms $167,118
Insurance $155,798
Misc Finance $52,700
No wonder Barney was so hot to get this bailout passed.....
>
Care for some cheese with that whine?
Sure I can, you're too stupid to understand.
Snicker.
> No -- what's amazing is how us wingnuts can't stay on topic
Yep.
Snicker.
> "Harold Burton" <hal.i....@hotmail.com> wrote in message
> news:hal.i.burton-142C...@comcast.dca.giganews.com...
> > NONE of the Top Four Recipients support the legislation
> > The Reform Act is blocked by Democrats, never even making it out of
> > committee NONE of the politicians return ANY of the money, tainted by
> > fraud.
>
> I Don't let facts get in my way.
Yep.
Snicker.
You have no interest in history or finding out EVERYONE who is
responsible. You just want to spin this as something the Democrats
and ONLY the Democrats were responsible for. You don't care. You
just want to score points on a fictional scoreboard for a very small
audience.
Consider this:
http://www.hud.gov/offices/cpd/affordablehousing/programs/home/addi/
The American Dream Downpayment Initiative. I guess DEMOCRATIC
president George W Bush proposed it, right?
- Rich
And yes, the Democrats are also to blame. But it takes a partisan
hack to totally ignore any responsibilities by any Republicans.
You really are one dumb fuck, oh well, you fit right in there with the
Airhead and McDiaper.
Obama/Biden: 353
McDiaper/Airhead: 185
<SMIRK>
http://www.realclearpolitics.com/epolls/maps/obama_vs_mccain/?map=10
> You really are one dumb fuck, oh well, you fit right in there with the
> Airhead and McDiaper.
Snicker.
> On Oct 2, 6:44 pm, Harold Burton <hal.i.bur...@hotmail.com> wrote:
> > 1997:
> > Fannie Mae is a GSE (Govt. Sponsored Entity) regulated by Congress.
> > Fannie Mae buys mortgages from other companies. It is backed by the
> > taxpayers for all losses, but keeps all profits!!! President Clinton
> > loosens Home Loan Requirements.
> >
> > 1998:
> > Banks begin making thousands of bad loans, 0 down, no documentation, for
> > 120% (1998 - 2008). Executives at Fannie receive huge bonuses if loan
> > targets are met. Franklin Raines and Jamie Garelick from the Clinton
> > Administration are appointed to run Fannie Mae.
> >
> > 2003:
> > President Bush proposes a new oversight committee to clean up Fannie
> > Mae, but Democrats derail the effort. Rep. Melvyn Watt, (D-NC)
> > Committee on Financial Institutions & Consumer Credit stated, I don t
> > see much other than weakening the bargaining power of poorer families to
> > get affordable housing.
>
> You have no interest in history or finding out EVERYONE who is
> responsible. You just want to spin this as something the Democrats
> and ONLY the Democrats were responsible for.
Why not, it's what the leftards in these newsgroups do. They love to
dish it out but when someone plays turnabout with them they whine, just
like you're doing.
snicker.
It is hack partisanship by the likes of yourself, and others, that is
going to set back conservatism for at least 20 years. Because you
would rather spin things than deal in the truth, you end up causing
actual conservatism to be ignored. People think you can't be trusted
to get the facts right at all. But shoot, that is what a partisan
hack does. It is why increasing numbers show no party affiliation.
So, care to tell the world about the American Dream Downpayment
Initiative? That is highly doubtful. You would rather think it
doesn't exist or had NO impact on the current crisis.
The fact you are a giant partisan hack causes you to also not see my
desire to thrown Barney Frank under a bus also for the sheer nonsense
he stated a few years ago where he said that Fannie and Freddie were
just fine. Wow, you must really be hating BillO now, because he is
throwing Bush under the bus and calls partisan hacks liars.
- Rich
> It is hack partisanship by the likes of yourself, and...
...democRATs.
snicker.
> > It is hack partisanship by the likes of yourself, and...
>
> ...democRATs.
>
> snicker.
Time to let you get the last word in. I am not a Registered Democrat
for one thing. You apparently also have no idea what the American
Dream Downpayment Initiative is, nor do you care to know anything
about. It is probably best this way, or you might end up joining the
Bush bashing Brigade, led by BillO. So, here you go. Get the last
word in, and we are done. You have shown yourself to be a total waste
of time, who is incapable of getting the basic facts right, but insist
on sticking to talking points that don't vary. I do see Sarah Palin
is your role model.
So, go ahead and get the last word in again.
- Rich
> On Oct 6, 9:50 pm, Harold Burton <hal.i.bur...@hotmail.com> wrote:
>
> > > It is hack partisanship by the likes of yourself, and...
> >
> > ...democRATs.
> >
> > snicker.
>
> Time to let you get the last word in. I am not a Registered Democrat
> for one thing. You apparently also have no idea what the American
> Dream Downpayment Initiative is, nor do you care to know anything
> about. It is probably best this way, or you might end up joining the
> Bush bashing Brigade, led by BillO. So, here you go. Get the last
> word in, and we are done. You have shown yourself to be a total waste
> of time, who is incapable of getting the basic facts right...
Wrong, I got them right, hack partisanship cuts across party lines,
neither party has a lock on it.
Do you disagree?
Snicker.
You post a message on the "history of a financial disaster" and leave
out the American Dream Downpayment Initiative. That is being a
partisan hack. Got it? Well, I will again let you get the last word
in, and will look not to respond again. Address that issue, whether
you admit both parties are blame, or don't. Shoot, don't even say
anything but do some cutie shot. I am done here. And yes, this time
I am done. And done with you. Your choice whether you join the BillO
Brigade or not.
- Rich
> When did he ever stop ?????????????
In reference to you posts, good catch. There is nothing anyone can
say to you, without repeating the same thing, how you are wrong,
contribute nothing, and only bring down the level of political
discourse. So, on this note, I will say I am done with you. Sure,
you can post a thread with my name on it, and use a bunch of libelous
words in it, and MAYBE I will respond. But beyond that, there is no
other reason I have to respond to you. You have shown yourself to be
a hateful bigot, a troll, and one of the worst partisans ever. You
secretly long for the Democrats to take over, so you have someone to
blame for everything that goes wrong or is even slightly to your
dislike. So now, you have someone to blame for the weather being
slightly overcast, commercials on TV being wrong, and a potential feud
to break out between different Fox and News Corp radio commentators.
You secretly lust for this, because it is easier for you than dealing
with a world where things go well. Even then, you will still have to
go on witch hunts.
So, on this note, I am also done with you. You have shown enough of
yourself there is no need to respond any longer. Along with that,
there is actually next to no reason to post on here now, unless maybe
Jeb runs or Dubya declares war on Iran.
So, bye Fud. I am sure you will miss the attention.
- Rich
> On Oct 6, 10:49 pm, Harold Burton <hal.i.bur...@hotmail.com> wrote:
> > In article
> > <65b428e8-9bd2-40ce-8707-f495987b4...@t65g2000hsf.googlegroups.com>,
> > Rich Hutnik <richardhut...@gmail.com> wrote:
> >
> > > On Oct 6, 9:50 pm, Harold Burton <hal.i.bur...@hotmail.com> wrote:
> >
> > > > > It is hack partisanship by the likes of yourself, and...
> >
> > > > ...democRATs.
> >
> > > > snicker.
> >
> > > Time to let you get the last word in. I am not a Registered Democrat
> > > for one thing. You apparently also have no idea what the American
> > > Dream Downpayment Initiative is, nor do you care to know anything
> > > about. It is probably best this way, or you might end up joining the
> > > Bush bashing Brigade, led by BillO. So, here you go. Get the last
> > > word in, and we are done. You have shown yourself to be a total waste
> > > of time, who is incapable of getting the basic facts right...
> >
> > Wrong, I got them right, hack partisanship cuts across party lines,
> > neither party has a lock on it.
> >
> > Do you disagree?
> >
> > Snicker.
>
> You post a message on the "history of a financial disaster" and leave
> out the American Dream Downpayment Initiative. That is being a
> partisan hack.
didn't say it wasn't.
> Got it?
What part of "hack partisanship cuts across party lines,
neither party has a lock on it." didn't you understand?
> I am done here.
You were done before you started.
Run Away! Run Away! Run Away!
Bwahahahahahahahahha!!!