Skip to comments.VIDEO OF ANDREW CUOMO STARTING THE HOUSING MELT DOWN!
Posted on 10/16/2010 2:57:25 AM PDT by Mr. K
CUOMO: To take a greater risk on these mortgages, yes. To give families mortgages that they would not have given otherwise, yes. Q: [unintellible]
that they would not have given the loans at all? CUOMO: They would not have qualified but for this affirmative action on the part of the bank, yes. Q: Are minorities represented in that low and moderate income group? CUOMO: It is by income, and is it also by minorities? Yes. CUOMO: With the 2.1 billion, lending that amount in mortgages which will be a higher risk, and Im sure there will be a higher default rate on those mortgages than on the rest of the portfolio
THIS IS THE ROOT OF THE HOUSING MELT DOWN
And now he wants to be governor of NY
CUOMO = OBAMA (without the business sense)
Watch the video before it is pulled!!!
“For those who want a smoking gun to show the genesis of the financial collapse, this short sequence from a longer video I posted this week will do it. Clinton HUD Secretary Andrew Cuomo announced a settlement of a lending discrimination complaint with Accubanc, a Texas lender whose prerequisites for mortgages came under attack from community organizers at the Fort Worth Human Relations Commission and the city of Dallas. I clipped out this sequence to underscore its importance:” see the video at the link
Capture it and email the link to Drudge and then Paladino.
how do I do that??? do you know??
If Carl is playing by the Alynski book he will smack Andy in the last days and not give him the chance to respond. Lets hope so. Although how does Andy spin himself out of this? Lets go to the video tape!
Excellent. This video needs to go viral. Also it should be used against all Dems. Their policies created the financial and economic mess we have today.
It is unpopular to say that the mortgage meltdown was a multi-player event. Dem and Pub Presidents and Congresses all had a hand in it. I call it a failure of the Fed-Gov period. Yes it started with the Dems, but the Repubs were enablers at the least.
email it to all your friends!!!
It wont go viral if no one starts passing it along
WE HAVE TO STOP CUOMO!
Thanks for this Mr. K
The GOP doesn't come close to the DUms in the pocket of Freddie/Fannie. Of all people, McCrisis saw the damage forthcoming and tried to fix it:
"JOHN GIBSON: Alright Heather. Lehman Brothers collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs...which politicians get Fannie and Freddie political contributions. The top three U.S. Senators getting big Fannie and Freddie political bucks were Democrats and number two is Senator Barack Obama. Now, remember, he has only been in the Senate four years but still managed to grab the number two spot ahead of John Kerry, decades in the senate, and Chris Dodd who is chairman of the Senate banking committee. Fannie and Freddie have been creations of the Congressional Democrats and the Clinton White House, designed to make mortgages available to more people, and as it turned out, some people who couldnt afford them. Fannie and Freddie have also been places for big Washington democrats to go to work in the semi-private sector and pocket millions. The Clinton Administrations White House budget director Franklin Raines ran Fannie and collected 50 million dollars. Jamie Gurilli, Clinton Justice Apartment Official, worked for Fannie and took home 26 million dollars. Big Democrat Jim Johnson, recently on Obamas VP search committee has hauled in millions from his Fannie Mae C.E.O. job.
Now remember, Obamas ads and stump speeches attack McCain and Republican policies for the current financial turmoil. It is demonstrably not Republican policy and worse, it appears the man attacking McCain, Senator Obama, was at the head of the line when the piggys lined up at the Fannie and Freddie trough for campaign bucks...." - FoxNews, Sept. 2008
"McCain spoke forcefully on May 25, 2006, on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005 (via Beltway Snark): "Mr. President, this week Fannie Maes regulator reported that the companys quarterly reports of profit growth over the past few years were illusions deliberately and systematically created by the companys senior management, which resulted in a $10.6 billion accounting scandal. The Office of Federal Housing Enterprise Oversights report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Maes former chief executive officer, OFHEOs report shows that over half of Mr. Raines compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulators examination of the companys accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform."
If Boehner’s first act isn’t to make Dodd do a perp walk in front of a Congressional inquiry on “Fast Times at Freddie/Fannie” I’m gonna lose interest in the Demogeddon reaaalll fast...
This video will sink him. It's over Andy.
Here's an email address for Paladino.
I dont know how to capture it
Obama was one of the first beneficiaries.
So now we have millions of people with college degrees who can barely read them (but all is good with the world, because minority college graduation rates are UP!)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.