Posted on 09/30/2008 6:55:09 AM PDT by RDasher
Unbelievable video of Bush promoting zero down loans for minorities....
We know they are all to blame.. and we are, too! We let them.
Every President wants to increase home ownership.
The 2003 Quote of the decade from Barney Frank (D)- “Fannie Mae and Freddie Mac are not in crisis.”
The 2003 Bill to step in and set up a Banking styled Regulator for Fannie May & Freddie Mac needed 60% support to get out of the House Committee and to the House Floor for a vote. The committee was made up of 20 members, 11 Republicans & 9 Democrats.
To get 60% to get the Bill out of Committee, the Republicans needed just one Democrat’s support. Not a single one of the nine would vote with the Republicans to get this Bill to regulate Fannie May & Freddie Mac out of Committee.
In 2003 Barney Frank, Maxine Waters, etc expressed utmost faith in Fannie May CEO Franklin Raines, however, on December 21, 2004 Raines resigned from his position as CEO of Fannie Mae after being charged with shifting of losses so senior executives, such as himself, could earn large bonuses.
Note that McCain, the GOP, Alan Greenspan, and Bush were all warning of this in 2001, 2003, 2005 and 2006. Legislation for reform and oversight of Fannie-Freddie was proposed and was blocked every time - on party line votes - by the Democrats. Ignoring it won’t change it.
Even better that you found it. Doing our side real good! Hey could you post some Pro-Obama You-Tubes links as well?
“Gingrich’s four-point plan includes:
(1) suspending immediately mark to market provisions (the accounting practice of valuing a financial position in an investment at its current market price) in the hopes of stopping the downward spiral in asset values and eventually replacing it with a three year rolling average;
(2) repealing immediately Sarbanes-Oxley, the 2002 accounting law Gingrich described as “an enormous drag on small business”;
(3) setting the capital gains tax rate at zero “matching the Chinese and Singapore” (to encourage private capital to flood into the market picking up properties without the taxpayers being at risk); and
(4) passing an “extraordinarily powerful” energy bill (”to return $500 billion a year to the American economy that are currently going overseas”).”
I take it you did not watch this video.... WATCH IT
PC run amok.
I am a McCain / Palin Supporter... but How could Bush complain about Freddie and Fannie and do this at the same time?
Yep. As bad as the Democrat plan was in propping up Fannie and Freddie, President Bush and the 6 years of Republican Congress did nothing about it.
I’m mad at all of them frankly. I’m still voting for McCain because Obama is just, well, ridiculous. But I’m good and mad at them all!
See my tagline.
The truth is the truth. Look up Mel Martinez and Alphonso Jackson both Bush appointees as Secretary of HUD. They turned out to be just as bad as Raines and the other guy from Fannie.
Never FEAR or HIDE FROM the truth. Bush should be exposed too. This whole scheme needs to be dealt a death blow. This is bigger than politics.
>> Doing our side real good!
Hmmm... I don’t know what “our side” is.
The only thing I can speak about with any authority is *my* side. And *my* side is — I want to know the WHOLE TRUTH about this mess. I want to know who screwed up and how so maybe we can keep it from happening again. I don’t care what letter is by their name — if a politician was wrong or corrupt, I want to KNOW.
What’s YOUR side?
yeah. Republicans had total control of Washington for 6 years, but were too busy telling everyone how great the Bush economy was, about how the Dow was hitting 14,000 and how so many people were now homeowners. Everybody ignored the man behind the curtain until it was too late.
“Then would someone please explain what the Heck is going on so that we can know”
the govt tried to get poor minorities in houses by ignoring reality and everybody lost their shirts, so now they need you to pay for it and everything will be fine and dandy.
cheer up, we are the world, we are the children
see for the world to be equal, the USA must be brought down a peg or two...or three...it’s all for the good. don’t be a sourpuss...soon there won’t be any racial problems because w’ll all be a warm coffee color, and there won’t be anyreligious tension because we’ll all believe the govt and do away with the old superstitions. we will all be equal except for our leaders who live on that golden hill,...w3e never see them, we just hear thier warm voices in our heads, soothing us and guiding us in harmony...isn’t that nice?
Man, that is heartbreaking to listen to.
I cringed when he said those things initially and here I was cringing all over again.
This mess goes way beyond Barney frank and Franklin Raines. The whole boom economy of the last several years was as fragile as a house of cards, but everyone was so busy cashing in on it that they ignored all the warning signs.
I suppose that the problems that I have with this bailout is that those who were responsible for getting us to this point are not only still in office but also are the ones writing laws to fix the problem.
your vote counts in the good ole USSA
love it
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