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An Investigation Has Started on Fannie/Freddie (AP) -- Now its a SCANDAL (Enron times TEN)
hmv

Posted on 09/30/2008 8:11:22 AM PDT by Hillary'sMoralVoid

Per AP, Freddie and Fannie are facing a Grand Jury as a U. S. Attorney's Investigation is underway.

Folks, this is huge! It is now a SCANDAL, the repercussions of which are TEN to TWENTY times the impact of the Enron Scandal!!!

We need to write to the editors of our newspapers and publicize this every way possible. Of course, we need to trace the money path through Dodd, Frank and company, directly to the annoited one.

Get excited, this is great news!


TOPICS: Your Opinion/Questions
KEYWORDS: acorn; fanniemae; franklinraines; freddiemac; hangemhigh; jamiegorelick; obama; unindictedcriminals
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1 posted on 09/30/2008 8:11:23 AM PDT by Hillary'sMoralVoid
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To: Hillary'sMoralVoid

Link?


2 posted on 09/30/2008 8:12:51 AM PDT by MarkeyD (Not In My Name! Palin turned me. McCain turned me off. McCain, get busy or I'm out.)
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To: Hillary'sMoralVoid

It’s about time!!!!!!!!!!!!!!!!!


3 posted on 09/30/2008 8:13:10 AM PDT by bandleader
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To: Hillary'sMoralVoid

October surprise...delivered right on time-—by Democrats!

This isn’t good news. It will be lies and slander of Republicans until AFTER the election.


4 posted on 09/30/2008 8:13:16 AM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: Hillary'sMoralVoid

ATTENTION MCCAIN CAMP: ATTACK! THERE ARE LINKS TO OBAMA!


5 posted on 09/30/2008 8:13:48 AM PDT by Blue Turtle (I)
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To: Hillary'sMoralVoid

Foxes, meet hen house!


6 posted on 09/30/2008 8:13:50 AM PDT by The Duke (I have met the enemy, and he is named 'Apathy'!)
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To: Hillary'sMoralVoid

yeah well don’t hold your breath


7 posted on 09/30/2008 8:13:59 AM PDT by Guyin4Os (My name says Guyin40s but now I have an exotic, daring, new nickname..... Guyin50s)
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To: Hillary'sMoralVoid

Don’t hold your breath.


8 posted on 09/30/2008 8:14:25 AM PDT by conservativemusician
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To: Hillary'sMoralVoid

Dod, Frank and all of the heads of Freddie and Fanney should ALL be put in jail.


9 posted on 09/30/2008 8:14:33 AM PDT by Jmouse007 (tot)
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To: Hillary'sMoralVoid

The GOP needs to be out in full force referring to this as a “Democrat scandal.”


10 posted on 09/30/2008 8:14:35 AM PDT by Harry Wurzbach (Rep. Thaddeus McCotter is my hero.)
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To: Hillary'sMoralVoid
What did Obama know...

and when did he know it?
11 posted on 09/30/2008 8:15:05 AM PDT by evets (beer)
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To: Blue Turtle

Maybe this is what McCain has been waiting for. An excuse to look for an entirely different approach.

Maybe?????


12 posted on 09/30/2008 8:15:25 AM PDT by 1curiousmind (Call me if you need me, just not at 3am.)
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To: Guyin4Os

I’m not holding my breath.

The MSM has no reason to even discuss this, since it won’t help Obama get elected.


13 posted on 09/30/2008 8:15:40 AM PDT by rightwingintelligentsia
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To: Hillary'sMoralVoid

GRRRRREAT news! Thanks for posting.

We’ll see if we have a justice system or a “just us” system.

Rule of law BUMP!


14 posted on 09/30/2008 8:15:41 AM PDT by PGalt
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To: Hillary'sMoralVoid

Where is your source or did you make this up?


15 posted on 09/30/2008 8:16:07 AM PDT by teletech (Friends don't let friends vote DemocRAT)
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To: Hillary'sMoralVoid

this will be slow


16 posted on 09/30/2008 8:16:10 AM PDT by dalebert
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To: Hillary'sMoralVoid

They’ll find some previously unheard of Republican congressman from Bumphus Idatucky who also took money, and instantly declare the scandal “bipartisan.”


17 posted on 09/30/2008 8:16:12 AM PDT by dead (I've got my eye out for Mullah Omar.)
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To: Harry Wurzbach
The GOP needs to be out in full force referring to this as a “Democrat scandal.”

Amen. An excellent add would be Maxine Waters and Barney Frank saying in a congressional hearing that Freddy and Fannie are A-OK!

18 posted on 09/30/2008 8:16:37 AM PDT by frogjerk (MSM: We will not question Obama bin Biden...)
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To: Guyin4Os; conservativemusician

yes and no...

obviously the rats will do all that is possible to drag this out...it is now up to the Republicans to make this front and center daily and scream for expidited investigations...

of course I have as much faith in them doing this as I do dollar bills growing on my trees outside....


19 posted on 09/30/2008 8:16:50 AM PDT by God luvs America (When the silent majority speaks the earth trembles!)
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To: The Duke
... chickens are coming home to roost"

20 posted on 09/30/2008 8:16:59 AM PDT by evets (beer)
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To: Hillary'sMoralVoid

You want to post a link or is this just a vanity??


21 posted on 09/30/2008 8:17:39 AM PDT by Centurion2000 (McCain/Palin 2008 : Palin the Paladin 2012)
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To: Hillary'sMoralVoid

Please. This is just a Democrat political stunt. Remember the 911 commission? The Waco investigation?


22 posted on 09/30/2008 8:18:02 AM PDT by SeeSharp
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To: Hillary'sMoralVoid

Where does AP say this?


23 posted on 09/30/2008 8:18:30 AM PDT by SumProVita ("Cogito ergo sum pro vita." .....updated Descartes)
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To: teletech

http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D93GV6JG0


24 posted on 09/30/2008 8:18:52 AM PDT by God luvs America (When the silent majority speaks the earth trembles!)
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To: dead

Bob Bennett, (R-Ut)


25 posted on 09/30/2008 8:19:21 AM PDT by colorcountry (To anger a conservative, lie to him. To anger a liberal, tell him the truth.)
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To: teletech

http://ap.google.com/article/ALeqM5gTS1CPMMgKdY2xTl8IYWGjOXERjAD93GV6JG0


26 posted on 09/30/2008 8:19:31 AM PDT by God luvs America (When the silent majority speaks the earth trembles!)
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To: Hillary'sMoralVoid

Bush will be blamed and Obama will benefit. This is not good news. It keeps the crisis on the front page and lets Dems/Obama and the DBM to perpetuate the Bush (ergo McCain) blame.

There should definitely be an investigation, but it should start in earnest AFTER the election.

For those who disagree, why do you think all of a sudden the AP has gotten so interested in FM and FM? They wouldn’t care a whit unless they thought it could help Dems. They always ignore scandals that would hurt Dems (e.g. Edwards).


27 posted on 09/30/2008 8:19:38 AM PDT by randita
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To: Hillary'sMoralVoid
YES INDEED...BRING IT ON...

FREDDIE,FANNIE,FRANK,FRANKLIN REIGNS,BLACK CAUCUS AND OUR YES WE CAN(take from the American people and no they cant investigate us, because we are black, we call it a lynching, racist,white privileged tactic) Senator Acorn from IL.Obama.

28 posted on 09/30/2008 8:19:56 AM PDT by Texas4ever (SIT DOWN JUNIOR :))
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To: Hillary'sMoralVoid

Put Guiliani in charge!!! Make him a special prosecutor that can never ever be fired.

Can’t Bush do something like this with his so-called justice department?

I am beginning to suspect that Bush is suffering from severe depression. He doesn’t seem to have fire anymore.


29 posted on 09/30/2008 8:20:28 AM PDT by Puddleglum
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To: teletech

Source: San Antonio Express News, lead story on front page of business section, 30 Sept morning edition.


30 posted on 09/30/2008 8:20:34 AM PDT by Hillary'sMoralVoid
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To: Hillary'sMoralVoid

Hopefully this ‘investigation’ will produce something. The precursor to this mess...FHA...8 years ago was supposed to be investigated as well...we see how that turned out...

I’ve been purging through 25 years of paperwork. I just came across a note I made while listening to a radio program about an article in Mother Jones from 2000.

The title is “HOME CHEAT HOME”.

First the notes I made: Cuomo, HUD...Mortgage bankers lobby....changes in 1994 to lending voted in by the democrats....realtor and lender often the same....low income limit mortgage loan $220,000.00......6 to 8 billion per year on defaults......FBI Investigating.......

And yesterday we heard the ‘FBI is investigating”...again???

http://www.motherjones.com/news/outfront/2000/07/outfrontja00.html

July/August 2000 Issue Mother Jones

[snip]Evans is among tens of thousands of low-income homeowners victimized by a scam called “flipping” that is being repeated every day in inner-city neighborhoods from Syracuse to Los Angeles. To resurrect blighted urban areas, the government sells abandoned houses to real estate investors for renovation. But some speculators simply slap on cosmetic repairs and “flip” the properties, reselling them for many times their true value. Because the FHA co-signs the loans, it gets stuck with the bill when homeowners can’t pay the inflated mortgages. Last year the agency spent $6.5 billion to bail out 78,890 home loans that went bad-up 30 percent in three years. The foreclosed homes are seized, boarded up, and put back on the market, and the cycle starts all over again.

“We have found flipping scams in every city we’ve investigated,” says an official with the Department of Housing and Urban Development, which recently indicted 41 Realtors, lenders, and appraisers in California. “What has me shaking is that we have these kinds of numbers on defaults and we are in a bull market.”

Federal investigators call flipping more lucrative than bank robbery — but it was mortgage bankers who lobbied to make the scheme possible. Historically, the FHA assigned independent appraisers to inspect houses and set a fair value. But lenders wanted to select their own appraisers. They claimed it would streamline the process. But it would also make it easier to find someone who would ignore shoddy repairs and approve jacked-up prices.

The industry certainly had plenty of clout on Capitol Hill. From 1991 to 1994, lenders handed out $2.3 million in campaign contributions, and the investment paid off. At a meeting of the Mortgage Bankers Association in 1993, the FHA unveiled a “lender select” policy allowing bankers to choose appraisers. The news was greeted by a standing ovation.

Because the FHA supports low-income home buyers with shaky credit, defaults on agency loans have always been above the industry average. But since lenders have been allowed to handpick their own appraisers, investigators say, foreclosures have skyrocketed.”


31 posted on 09/30/2008 8:21:48 AM PDT by AuntB ( "During times of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
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To: Hillary'sMoralVoid

The “investigators” have requested documents from JANUARY 2007 and on. To make sure the outcome can be blamed on Bush.

Looks like they are giving Raines Johnson Gorelick Cuomo at HUD and other dem cronies a “get out of being investigated free” card.

Would you be surprised if Jamie Gorelick was appointed to participate in the investigation?

uuugh


32 posted on 09/30/2008 8:22:25 AM PDT by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
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To: randita
why do you think all of a sudden the AP has gotten so interested in FM and FM?

Because their collapse was a major cause of the biggest financial crisis in 70 years?

It doesn't matter who it helped or hurt politically, the media could not ignore it. There was no decision to make.

33 posted on 09/30/2008 8:22:55 AM PDT by dead (I've got my eye out for Mullah Omar.)
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To: randita

I agree. Notice how the investigation is only going back to 2007. Why not go back further? There sure is plenty to look at.


34 posted on 09/30/2008 8:23:03 AM PDT by Vanbasten
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To: MarkeyD

http://hosted.ap.org/dynamic/stories/M/MORTGAGE_GIANTS_INVESTIGATIONS?SITE=MOSTP&SECTION=HOME&TEMPLATE=DEFAULT


35 posted on 09/30/2008 8:23:12 AM PDT by ChowChowFace
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To: Hillary'sMoralVoid

That’s the good news. The bad news is that the investigation will be conducted by congress with Fwank and Dodd chairing the committee doing the investing.


36 posted on 09/30/2008 8:23:12 AM PDT by TruthWillWin
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To: God luvs America

Faith in Senate Repubs?

Let me know when that tree bears fruit.


37 posted on 09/30/2008 8:23:36 AM PDT by conservativemusician
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To: Hillary'sMoralVoid

Looks like an October Surprise to crush Obama.

And it is well deserved.


38 posted on 09/30/2008 8:24:12 AM PDT by RobRoy (This is comical)
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To: God luvs America
The government investigation focuses on activities starting in 2007, Freddie Mac said in a statement.

How about activities starting BEFORE 2007? Guess they don't count.

39 posted on 09/30/2008 8:24:56 AM PDT by teletech (Friends don't let friends vote DemocRAT)
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To: frogjerk

It’s a “political lynching!”

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.


40 posted on 09/30/2008 8:24:57 AM PDT by maggief
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To: evets

"Walk like an E-gytian, damn it!"


41 posted on 09/30/2008 8:25:04 AM PDT by Jeff Chandler (Taglines are The Devil.)
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To: rightwingintelligentsia

>>I’m not holding my breath.

The MSM has no reason to even discuss this, since it won’t help Obama get elected.<<

The MSM are even more irrelevant than four years ago. They couldnt save Rather from the Pajamahadin and they couldn’t save Kerry from the Swift Boat Vets.

And now we have youtube.

This is gonna be fun.


42 posted on 09/30/2008 8:26:10 AM PDT by RobRoy (This is comical)
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To: Hillary'sMoralVoid
There have been a lot of new releases about this the past 24 hours. It's just not quite on the front page yet (if ever).

Freddy & Fanny get subpoenaed

43 posted on 09/30/2008 8:27:03 AM PDT by Darth Hillary (Freezing in the dark reduces your Carbon footprint.)
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To: Jeff Chandler


44 posted on 09/30/2008 8:27:30 AM PDT by evets (beer)
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To: Hillary'sMoralVoid

I think when Raines tells a COngressional committee, like he did 3 years ago, that these mortgage derivitives are “riskless” it’s a fraud and a crime.


45 posted on 09/30/2008 8:28:51 AM PDT by 1Old Pro
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To: TruthWillWin
"The bad news is that the investigation will be conducted by congress with Fwank and Dodd chairing the committee doing the investing."

A federal grand jury is doing the investigation.

46 posted on 09/30/2008 8:29:01 AM PDT by avacado
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To: Hillary'sMoralVoid

http://hosted.ap.org/dynamic/stories/M/MORTGAGE_GIANTS_INVESTIGATIONS?SITE=INLAF&SECTION=HOME&TEMPLATE=DEFAULT


47 posted on 09/30/2008 8:29:04 AM PDT by BAW (Proud member of the vast right wing conspiracy.)
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To: Hillary'sMoralVoid
They need to seize all documents (that haven't already been shredded) RIGHT NOW!!!
48 posted on 09/30/2008 8:29:11 AM PDT by teletech (Friends don't let friends vote DemocRAT)
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To: Hillary'sMoralVoid

bump


49 posted on 09/30/2008 8:30:20 AM PDT by VOA
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To: silverleaf
"The government investigation focuses on activities starting in 2007, Freddie Mac said in a statement"

Freddie Mac said. That could be a bit of misdirection, and the investigators may be looking at other, earlier time periods, as well. The political and financial fog is very thick, pay very close attention to *WHO* says *WHAT*.
50 posted on 09/30/2008 8:30:28 AM PDT by Frank_Discussion (May the wings of Liberty never lose a feather!)
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