Skip to comments.Obama wisely embraces Sarah Palinís mortgage advice - pushes to end Fannie and Freddie
Posted on 08/07/2013 5:06:24 PM PDT by xzins
Back in September of 2008, Sarah Palin spoke at a Colorado Springs rally. During her address, she lamented the all-encompassing power of government sponsored mortgage giants Fannie Mae and Freddie Mac. She argued that a potential McCain administration would rein the companies in. As she put it:
John McCain has been calling for years to reform things and cut bureaucracy, even at the lending agencies that our government supports. The fact is Fannie Mae and Freddie Mac have gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help.
She was, of course, pilloried for this. Virtually every mainstream media outlet pounced, accused her of ignorance, and reminded the American people that these were not taxpayer funded entities. Taxpayers simply werent a factor.
Then, under Barack Obama, taxpayers proceeded to dump $180 billion into Fannie and Freddie.
Now, even Obama himself is acknowledging that Palin had it right back in 08. No, he doesnt mention her by name, but his remarks during a recent home ownership address are telling.
Obama basically reiterated Palins comments, ...:
(Excerpt) Read more at canadafreepress.com ...
That was the slam on Palin. Whats different here?
Oh yeah. I forgot. Theyre not out to destroy Obama, and Palin was right all along.
History will vindicate Sarah — and history is being written in the next three years!!
Ping for (another) Palin Vindication
While he has his axe out there are some other agencies that need to be lopped.
He should ask her if she wants to be a full-time advisor.
Of course she was right.
Obama wisely embraces Sarah Palins mortgage advice - pushes to end Fannie and Freddie
Obama "wisely".... Let's just stop right there. Obama has never done one thing in office "wisely" because he surrounds himself with communist cannibals who want to eat Americas' heart out from the inside. In any meeting Obama ever has he is the least qualified and biggest idiot in the room (unless plugs is attending and then it's a tossup). Wisdom? Really? I think not.
Now that being said, can anyone here name one thing Obama has done that has benefited America? That has made us stronger? that hasn't weakened us in some way or another. My guess would be no one can name even one thing. However, one thing Obama constantly does with every word out of his mouth and every action he does is play politics. America with no help from people like myself made him a two term president but he still acts like he's a victim of (fill in the blank). Every failure and there are a multitude of failures are all laid at the feet of a scapegoat, because Obama wants only to be adored and loved and cherished and dare I say worshiped? All politics, all the time.
Obama and his commies makes me and liberty loving Americans want to puke. Anyone who still thinks he's good for America isn't worth even having a discussion with at this point. they've sold there soul to the devil.
Sure we do want Fanny and Freddy to go away forever but to think that Obama has done anything out of 'wisdom' is just a complete joke.
Sorry, but when BHO speaks common sense, he’s lying to distract and make himself seem acceptably competent to sucker in Boehner & the RINO coalition.
Is he proposing that people should go directly to the government for a mortgage?
Ping to Sarah's Awesome List.
One day the Ignorant Masses of this country will beg for a leader like Sarah.
And She is 100% justified in just laughing in their faces.
Under the plan the same rules used by Fannie and Freddie would be forced on private banks.
He’s gonna want to give them to a conglomerate of democrat investors and will head the group after he leaves office. They will make it so dependent on government that it will eventually need to be taken over only after they milked it for billions and run it into the ground giving away free stuff to people who can’t actually pay it back. Another multi-trillion dollar boondoggle in the making.
Private ownership but government control?
Absolutely great post!
If fannie and freddie have served the regimes political needs you can be sure there will be something else created by big communist govt. to take their place. That’s just how it works.We fail to see who or what we are up against.
Though I agree with Obama on this issue....I can’t help but think he really has something up his sleeve...
I take nothing at face value with this POS....there is always a down side .....even when it looks like the unicorns are pooping skittles....
See geronL’s post at #12. Getting rid of fannie/Freddie is Palin’s contribution. Forcing the same requirement on banks is the Obama poison with a twist of irony.
And, of course since Governor Palin is hitting the Republicans on their failures as well, the Republicans are all for the success of the Obama/NSA plan.
Expect to see Obama's press secretary to regularly say, "we already thought of that, and made a statement on it, nothing new to see here, move along".
Gee, I never would have guessed...LOL
I don’t trust Obama on this or any other thing that he says. He hates America and wants nothing good to happen to America.
His plans are not for the betterment of the USA.
I refinanced a year or so ago and found out that my mortgage before refinancing was assumed by Fanny and Freddie and it was a normal conventional loan. It was surprising to find that out. It was probably part of TARP. Nonetheless, it was done without my knowledge.
Many (if not most) lenders sell their mortgages to bundlers. Small, locally owned banks sometimes prefer to manage their own. That’s the case with our local bank, a small group of about a dozen banks here in southern Ohio
Ubama knows what is best for you.......
The only reason he would end them is to make it look like he is really trying to solve the problems while he destroys the housing market with some other tool which has yet to manifest very soon.
Mine is and was Wells Fargo but it was still classified a Fanny/Freddie. I don’t have any idea what Fanny/Freddie have to do with it. Maybe underwrite it and they didn’t to begin with as far as I know. We were in no danger of defaulting and I don’t think underwater.
Wells Fargo sold it to Fannie/Freddie and F&F market bundles of them to high stakes investors from around the world. I don’t know how derivatives work, but they even play the derivatives game (or used to, anyway) with bundled mortgages.
From what I read he is still calling for gov’t backing of these bundled mortgages. Fannie and Freddie might be gone but the principle is still the same. Nothing is really changing. It will go bust again.
If Sarah Palin were President, the spending nonsense in the Federal Government would stop.
If we let the Hildebeast become President she would spend the taxpayer's money like a drunken sailer:
Yeah but sparky wants to continue to do exactly what FM and FM did... he just wants his communists to control the funds.
Sarah just wants the program killed and buried.
I take it you really like our President?
Let me guess, Fannie to become Beyonce and Freddie to become Fifty-cent?
Fifty-cents is about what Fannie & Freddie have left!
Follow the money. Follow the money.
She also warned of death panels with Obamacare. Watch the libs squirm and bob around that as well.
Liberals are the followers of anything that matches their reduced ability to think for themselves.
Yes. If FM & FC were to shut down- who would stand to gain? Those who ended up with the bundled mortgages? After some "law" was passed to soften the blow to whatever investors would take over the assets, of course. And followed by Obama blaming 'fat cats' while being supported by them, doing their bidding, and again blaming Republicans for "the poor" being shut out of the housing market, etc.
What fresh hell have the figured they could cook up this time, to again have Democrat Party operatives get in on the looting of the U.S Treasury?
There has never been a more mature and knowledgeable leader than Gov Palin in the history of the United States
that’s some pretty high praise. :>)