Skip to comments.Bush Proposed Fannie Mae / Freddie Mac Supervision In Sept 2003
Posted on 09/17/2008 10:01:15 PM PDT by tallyhoe
click here to read article
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.
... nor how much much their malicious
ignorance and vicious sniping stains
AND TERM LIMITS!!
Excellent point! And the same insurance (health and otherwise) and social security policies that Congress enjoys should be ours as well. If they don’t agree...we insist they take on our same coverage...and see how fast they change their minds!
What is REALLY pitiful is that this is NOT NEW news.... I remember when this was being put together by the admin and when Snow came out talking about it and how the demonrats were seething at he teeth and calling Bush and the admin a bunch of racists trying to deny Americans their “American dream” of owning a house.... AND NOW all of these DEMONRATS are trying to escape culpability, go on ANOTHER recess and push this off until AFTER the election. Now I ask you all.... just IMAGINE what it will be like if the DEMONRATS have control of the Whitehouse and the HALLS OF CONGRESS. This rant is a typical REACTIVE RANT... where was EVERYBODY in 2003???????????
Great idea; Put a fresh coating of sh** over an old bloated, diseased, turd. /angry sarc
The Democrats are experts at pandering.
If you are a Pub, as you claim, you realize Pres. Bush is not running for reelection.
John McCain is the nominee. McCain, the guy who has not taken an earmark. McCain, the guy who has not voted for any tax increases. McCain, the guy who remained calm and steady when this financial mess first broke. McCain who sensibly said the best way to deal with this mess is with an independent commission (do you really think a Rat congress will admit and correct all the things they did to cause this problem).
I learned a long time ago it's better to look forward if that's the direction you want to go.
When did you hear me defending McCAin? I wish he’d step out of the way and let Palin be the man.
My best regards to both you and your fetching trophy wife!!!
I understand McCain/ Palin’s campaign plan requires they distance themselves from Bush. However, when Bush gets something right, they need to support him, and take advantage of the low Congressional approval ratings and place the blame on Pelosi’s house.
They could simply take this opportunity to say that it was Obama and his party who killed the necessary regulation several in Congress hoped to put in place to prevent this sort of problem.
Thanks for the ping!
“If you think GWB was a Republican, in anything but name, you really are an idiot. “
Look in the mirror, fool.
Idiots like you are one of the reasons we didn’t get regulatory reform, social security reform and permanent tax cuts. Too excited at the prospect to insult a President to understand the reality of the issues.
Bigger govt and regulation? Yeah thats the ticket. Whoopie. No possibility of ABOLISHING these types of monstrosities huh Dubya.
I am holding my breath watching this all unfold.
I am not optimistic that the true perpetrators of all this will get caught; at least not now.
But this Freddie Mac stuff is nought but a way for the House of Lords to bribe, manipulate and spindle their grip on power. It is their own bank.
I worked for a company whose service was going out and finding “community reinvestment” spots for banks. I tell you, it was such a lush and ripe vehicle for bribes. Cities would put in for waterfront projects, sports complexes, affordable housing.
Banks had to, to remain in business, “reinvest” in the community. They actually had to hire a company to investigate where to reinvest.
It’s a concept that, obviously, didn’t work. So they decide, under the guise of helping the poor to own their own homes, come up with this “lend anybody money to buy a house...don’t worry, we’ll back up all defaults” strategy.
A concept that will, obviously again, collapse like any pyramid scheme.
Only those who used this vehicle to purchase voters via such dynamite groups as Rainbow Coalition and ACORN, giving commissions to “community organizeers” who bought in the likes of Crystal the Stripper and Butch her Pimp as new homeowners....it’s how it worked. It’s a tawdry system and what scares the living hell out of me is that it will never, not ever, stop.
The fed will back up the losses as this was, and is, the plan. Those who steal from this trough know and count on this.
Only one thing would ever stop this thing, essentially White Water on steroids, and a lot of folks would go to jail yes they would, is for the OPPOSITION party to grow a pair and clean it up.
Bush evidently tried it in 2003 but the country wasn’t paying attention then. The Dems might pull off the political coup of the century....steal billions for vote purchasing and incumbent protection, get the taxpayers to pay....AND successfully blame it on the Republicans!
And this will happen because, as always, the Republicans will do nothing about it.
Someday us peons will have representation in our congress. Someday the Republicans might do the right thing.
Well, McCain has finally done something about the Fannie Mae stuff:
“Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie Maes CEO who helped create this disaster in charge of finding his Vice President. Fannies former General Counsel is a senior advisor to his campaign. Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didnt lift a hand to avert this crisis. While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments. Thats not change, thats whats broken in Washington.”
Did this proposal pass the House? The GOP controlled the House when this article came out.
Why is this printed in the New York Times? They never print anything unless it is republicans fault.
That’s right out of their playbook. They have been selling us out for so long. They really should be held accountable even if it means some jail time.
Fearing that mortgages would no longer be available to people who were unable to pay them back, Democrats eventually killed the proposal.
Excellent work finding this.
I'd say an article in the NY Times is proof enough -- or do you want something signed in blood?
As far as why he's taking blame, ask John McCain, who said today that "Two years ago I warned this Administration and Congress that regulations for our home loan agencies, Fannie Mae and Freddie Mac, needed to be fixed "
So where was McCain five years ago?
And no, I'm not a troll, and I wouldn't vote for Obama if my life depended on it. Let's just say I'm sick of the "bipartisan" BS and distortion of history.
McCain’s advisors are just now getting him unstuck from the post-partisan label he has been characterised with.
Good. I’m glad to hear it.
Do you know where he was when he made this statement? Did he have a large audience?
These are the specific portions of your post that make a Republican doubt your loyalties “”....George Bush has sent our boys to die in Iraq to create an Islamic republic....... I don’t trust GWB as being the author of anything sensible. “”
And this quote belongs to someone else, not me: “”No. I think he’s a lawyer and a comedian; two professions where total honesty, strict accuracy, and unbiased presentation are not regarded as essential in presenting a point of view. “”
And yes, the GWB federal spending spree has been another step away from the Republican ideal, towards Socialism. I never said I liked it, and I cringe every time he adds another hand-out, pass-out program. His failure to use the veto pen is a historical anomaly in itself.
But, I don’t criticize or condemn his choice of Iraq to fight the central war against islamic jihadist and terrorism. (If the CIC wanted to see our guys die, he could have put them on a bus and sent them to the ‘Community Organizer-Obama’s’ home turf in Chicago, since it boast a higher death rate than the Iraq War. The surge worked and GWB should have listened to McCain when he advised this troop increase in 2004.
campaign rally in Iowa today. Not sure about the audience though, but there was another thread on it
Most childish tagline of the month award.
Mr. Woodhead. The tag-line was penned by GWB. Our boys died for an Islamic republic. Those are the facts. Deal with them.
Nope they blocked it from getting out of committee! With the help of liberal or Moderate Rino’s
Still believe the Drive-By civil war BS, don't you.
BTW most of our blood spilled in Iraq was spilled fighting Al Qaeda.
McCain was talking about this in 2003 and 2005!
Some more stuff in the Iraqi Constituion.
"This Constitution guarantees the Islamic identity of the majority of the Iraqi people and guarantees the full religious rights of all individuals to freedom of religious belief and practice such as Christians, Yazedis, and Mandi Sabeans."
"Iraqis are equal before the law without discrimination based on gender, race, ethnicity, origin, color, religion, creed, belief or opinion, or economic and social status."
"The State guarantees the protection of the individual from intellectual, political and religious coercion."
There's a lot more too.
I posted this the other morning.
Thanks grampa, they really make me sick.
thanks for posting ! Mccain needs to use this
That would explain why Chaldean Christians are less free to worship now than they were before our intervention. Explain to me how “Now law that contradicts Islam” will fare against “Now law that contradicts democracy?” The supremacy of Islam as a governing principle in this constitution is clear, else there would have been a balancing clause “no law that contradicts Christianity” would have been included. This Constitutions was, and is, an insult to the west.
Sexism from a Republican?
I had tried to stay away, but you are not a nice person.
McCain is a man because of anatomy.
Sarah is a woman because of anatomy.
Interpretation's outside anatomy; scream prejudice.
The President was right to be proud of seeing this happen. And what he said has really nothing directly to do with the Fannie/Freddie debacle.
Basic economics: As businesses grow, so does the economy. This means people have newer availability of jobs to seek. This can also mean they have more income. When they have more income, this increases their opportunities for home ownership. There are many people all across the "race/ethnicity/gender/orientation-pinwheel" of humanity with great credit, who are responsible, and would like to own a home. As the Bush economic plan was successful, these people were able to find either higher paying jobs, or simply more constant, full-time work in their locations. This, then, increased homeownership.
Redlining, OTOH, is a pure creation by Democrats. Redlining means loaning to a broad category of people (of "color" or of low income levels, bad credit history, etc,) and giving them a "preferential" loan. This latter is what has wrought this current economic mortgage crisis.
When the President said this thing in his SOU address, I and my household were on our feet applauding. Not because he said "minorities were owning homes" but rather because when good people are of solid character and buying their homes, this brings about the boon, if not birth, of a microeconomy in their location. And if the city/town fathers of that area invest revenues properly, this means that even newer jobs are created. In small towns across America, this also means that those with disabilities can work too!
If those on various welfarian rolls are able to work, to actually have a paying job, this decreases the monies used up in transportation, health, food, housing, etc., and alleviates the burden on the American Taxpayer. I include also those who are retired, but barely eking it out on their social security. They too can have part-time jobs which supplement their incomes, which of course reduces the taxpayer burdens for various supplemental programs.
Homeownership is a GOOD thing. When people have an investment in their home, care about their neighborhoods, the opportunities for slime to enter is vastly reduced.
One of the greatest ways to cut down crime in an area is truly, home ownership.
What the dems did with Redlining - giving loans to people who'd never be able to repay, had bad money histories, etc., was a ripoff of anyone who'd invested in the companies MAKING those loans.
Usually, businesses making a profit tend to reinvest, either in their own companies or in other companies. And in so doing, grow micro-economies. This is how wealth and prosperity grows.
What the CEOs of Fran/Fred did was steal the profits and invest it principally in themselves, and their candidate of "choice", Barack Obama. And now, they plan Scam II, and why they are desperate for Obama to win.
I've already, many years ago, in San Francisco, early 90s, seen what happens, now.
Those properties foreclosed on, either get declared this that or the other, and auctioned off for mere dollars.
I cannot immediately recall the Dem's name in SF; but SF had a "housing crisis" similar to the one we have now, brought on by the same damned regulations. Sure enough, this Dem bought these "slums" for a mere dollar, had them declared "federal disasters, and used Federal dollars to repair these homes. Once these edifices were totally fixed up? The Dem put these houses on the market for sale at top dollar. He got all the profits, which ran to about 90% of total value, when he'd only paid mere dollars for the property to begin with.
And he wasn't the only Dem who did this.
And at this point, we can now talk about the hows and why RE in San Francisco Area grew so outrageously high. And the beginnings of "how the RE bubble got built" and by whom.
Why... if we were of a mind to, we could also talk about Your Black Muslim Bakery, across the Bay from SF in Oakland, and their Real Estate Growth Adventures, and all that happened as a result. ahem.
First of all you did not lose retirement “income”. Your retirement account lost some of its value. And if you (or your advisor) has you invested properly you will not be affected. Why? Because the money you need to withdraw from your portfolio for the next 3-4 years should not be in stocks (or stock mutual funds) anyway. It should be in bonds or other fixed investments and the most immediate of this 3-4 year amount ought to be in (i.e. the next twelve months withdrawal) should be in cash or money market. The market has never been down more than four consecutive years (and that only once, from ‘29-’32). This cushion will provide you the time needed for the market to recover its losses. Then, when the market recovers (and it will!!!) simply replenish the cushion and enjoy a relaxing cup of hot tea and a good book.
I was talking of “potential” retirement income, and I don’t have that many years to make up the losses. But fortunately, since my post, or actually a few days before it, i went 100% cash. Now hoping MM funds don’t break the buck.