Posted on 09/17/2008 10:01:15 PM PDT by tallyhoe
A September 11, 2003 New York Times article shows that President Bush proposed “the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.” His proposal: An agency within the Treasury Department to supervise mortgage giants Fannie Mae and Freddie Mac. Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal. The current meltdown in the mortgage industry is a direct result of giving mortgages to people who could not pay them back, a practice protected by Congressional Democrats.
(Excerpt) Read more at query.nytimes.com ...
Hah, I was just getting ready to post that youtube.
Let’s me know FReepers are always on it! :)
bump
Oops! Sorry about that. I'll opt for the "too early in the morning, haven't had first cup of coffee" excuse.
farmer18th, the Oxygen thief.
The tone of your post is entirely suspect of a libtard suffering from BDS.
Go back to farming your 18 little green Bud plants in your hyponics lab.
First, she helped cause 9-11 with her asinine “wall”, and THEN she steals 26 million dollars from us? I’d say she should more jail time than Martha Stewart. I am so with you on treating her as the felon she is. People like her are a cancer in our country.
I’m so outraged, I can’t even find non-profane words to express myself!
After the SPECIAL PROSECUTOR is finished. First things first.
What is ridiculous are the Bush Haters on this forum pretending to Republicans and taking shots at him when he tried to do what was right.
Its the Corruption Stupid!! This was caused by the Dems in DC.
Pray for W, McCuda and Our Troops
“You might discern that I have lost a substantial amount of retirement income in the last couple of days.”
I will be 70 in November, and I can’t tell you the number of times the market has dropped even worse then the past few days. I stayed invested and particuliarly in funds with the S&P and other indexes until Pelosi and Reid took over congress. We started getting out of most mutual funds after Reid and Pelosi took over. In May of their first year of terror, we had auto sell on our index funds set at 6% losses fortunately. That May dip converted our index funds to money markets.
We are basically in CDs, AAA Bonds (no Fannie nor Freddie), two good mutual funds, and enough GLD (the gold index)that we could live a year or more if the bottom drops out.
My advise to my early 40 something sons, nieces and nephews, fund the maximum you can with your 401’s and IRA. Buy SPY, DIA and MDY or funds based on those indexes.
These index funds will weed out the crap and BS, and when the market rebounds they will rise in value.
Stay away from Bond Funds as they are often loaded with Fannie and Freddie and worse.
If you are really concerned about your retirement savings, make sure that Obami and his thugs don’t get elected.
Hang in there and be glad you don’t live in Russia where the markets have been closed for at least 2 days.
Because the New Media, libtards and FReeper trolls never give President Bush credit for anything.
“Because the New Media, libtards and FReeper trolls never give President Bush credit for anything.”
Now these bastards, who stabbed him in the back 24/7/365 are blaming him for what he tried to avoid years ago.
Thanks for posting this.
You're not part of the solution if you, like McCain, keep insisting this is not a Democrat scandal. Look at the top 3 recipients of $$$ from Fannie Mae. They are Democrats. And Obama is #2 on the list of receiving the most money from them, even though he's only been in the Senate for 3 or 4 years!
They have flat out robbed us.
I could not agree with you more. However, most Americans do not care. They have to get the beer, popcorn, pizza ordered, stock up on smokes, and get ready for the big games this weekend. No time for this stuff. Most think that the thieves in D.C., formerly known as politicians, are going to screw up anything they get involved with anyway. So, never mind.
You are correct - there is blame on both sides. But you had the Chosen One come out and take a direct shot at Republicans and is trying to lay this totally on Bush. If ever there was a need for a full investigation, this is it.
Where’s the Special Prosecutor when you really need him. Half of Congress and all of Obama’s Moneymen should be under indictment for fraud and bribery.
“Fearing that mortgages would no longer be available to people who were unable to pay them back”
At that point, it’s not a mortgage, it’s a handout.
***What is ridiculous are the Bush Haters on this forum pretending to be Republicans and taking shots at him when he tried to do what was right.***
You’re absolutely right, Grampa. And let’s remember that Jamie Gorelick was the same person who made it impossible for the FBI to share information with the CIA and yet managed to make millions for herself from Fannie and Freddie. With people like that involved in the mortgage industry, Bush was absolutely right to ask Congress for an overseer.
I’m so outraged, I can’t even find non-profane words to express myself!
~~~~
I’m in the same boat ... deep breathing
to prevent neck vein explosion.
In every case, he got ridiculed and the discussion stalled and faded away as something to fix.
So sad.
I like the idea of the mobs with lighted torches marching on up to the steps of Congress.
We need to do what Sarah Palin did in Alaska...fire 'em all, and re-interview them for their jobs. That way we can keep the good (and they'll have to prove themselves) and permanently get rid of the bad.
W's talking on TV now - He's got my fav lucky tie on, too...orange!
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