Dems Fume over Wall Street Trillions

The American Thinker ^ | December 03, 2010 | Christopher Chantrill

[Leftism is Mentally Deranged]

Democrats and other communists hate waking up every morning and thinking that they don’t control ALL the means of production.

[Donald Rumsfeld Fan]

Perhaps the purpose of the article is merely to buttress the narrative, copyrighted by Sgt. Schultz of Hogan's Heroes, that liberals know nothing -- nothing about Fannie and Freddie.

Sgt. Schultz

[Alberta's Child]

I would consider it beyond immoral. As far as I’m concerned, it’s outright theft from the U.S. taxpayer.

[GlockThe Vote]

Agreed, and some of the cheerleading on this site for these criminals and these is equally appauling.

If you want to read a great book, get creature from jekyll island.

Truly shocking.

[<1/1,000,000th%]

"Despite the very dire consequences of the latest financial crisis that Wall Street perpetrated on the world, ...

I missed all this.

I thought the crisis came from the Dems shaking down banks and mortgages companies to suppport their "urban housing program" after having bankrupted the savings and loan industry to fill their pockets with cash.

[denydenydeny]

Potential nice silver lining here that we may get Democrats on board with legislation requiring more oversight for the out-of-control Fed.

[BipolarBob]

I agree with your analysis.

[M-cubed]

LMAO...Newbie!....what point do u want to debate!

Tell me everything u know what was wrong (”from the start”) about what I said...

Now to make it easy for you.. ..””IF YOU WERE IN CHARGE”””...
would you have approved of those securitized mortages and estoric financial instruments you know so much about!

It's a yes or no question...Don't respond without leading with one or the other...

THEN WE CAN TALK!

[M-cubed]

I'm gonna call that bullshit!....IT WAS CONGRESS that told the banks they WOULD loan to to the “Red-lined areas”......Banks said NO WAY! ...LOL
CONGRESS SAID...We'll cover u with Fannie and Freddie...

BANKS SAID....HELL YESS,,,THATS A NO LOSE PROPESITION!!

Guess Who's on the hook for Fannie and Freddie?? YOU AND ME....Do your own DD!

[BiggieLittle]

I’m familiar with the real estate markets in both Las Vegas and the Tampa area as well as NY. The foreclosures are not confined to “redlined” areas. The majority are in middle class and wealthy areas.Google “Lake Las Vegas”. It’s a wealthy enclave with six figure and over price tags on homes that’s slowly turning into a ghost town.
You really believe that the foreclosures are occurring in the poor part of town only? You got to be kidding. In fact you have to know that’s not true.

[M-cubed]

My point was..once the government, thru Fanny and Freddie, started backing the loans...the banks had no incentive to refuse or evaluate risk...

With no risk to the bank, any warm body was qualified and welcomed...EASY MONEY for the banks

[M-cubed]

Psssst...You that are so hip on the real estate market...

Janet Tavakoli Explains How Banks Converted US Housing Into “Fraud As A Business Model”

http://www.zerohedge.com/article/janet-tavakoli-explains-how-banks-converted-us-housing-fraud-business-model