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Fact Check: "Obama tried to reign-in Freddie Mack and Fannie May in 2006"
Fox News | 10/6/08 | vanity

Posted on 10/06/2008 2:23:54 PM PDT by pabianice

Fact check needed. That red-haired Obama Suck-up is on Fox proclaiming that in 2006 Obama introduced legistation in the US Senate to rein-in and better control sub-prime loans backed by Fannie May and Freddie Mack. Can anyone corroberate this or is this just another Obama lie? (I also note that she looks rather distressed at the moment -- a result of today's wailing of Obama by McCain and Palin?)


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections; Your Opinion/Questions
KEYWORDS: areliars; factcheck; obama; obamarecord
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To: BookmanTheJanitor

Thank you Bookman...adding your link to my new link set this afternoon.


51 posted on 10/06/2008 2:49:40 PM PDT by Cindy
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To: Red Steel

No, but I THINK his claim was that it was about subprime lending (again, I’m sure that there wasn’t enough of it or the terms were too tough!)—and he’s trying to make it sound as if it was about F&F.


52 posted on 10/06/2008 2:49:47 PM PDT by 9YearLurker
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To: dalcapret
A lie would be “shocking” to the perpe’trait’or. I.E., you lie, you fry.

I like it! Here's a twist on your idea. Instead of wiring up the politicians, wire up their supporters in the audience. If they lie, their supporters fry.

53 posted on 10/06/2008 2:50:54 PM PDT by Pearls Before Swine (Is /sarc really necessary?)
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To: pabianice
Factcheck.org -> Annenberg
Obama -> Annenberg

Give Factcheck.org no credibility on Obama-related topics, as Annenberg supports both.

54 posted on 10/06/2008 2:53:10 PM PDT by Lexinom (There you go again, Joe!)
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To: pabianice

The red headed woman was on with John Scott (Fox)earlier today and she just kept screeching. When she came on the second show......click MUTE button.


55 posted on 10/06/2008 2:53:32 PM PDT by 4integrity
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To: Diogenesis

Oh the Obama back dated letter. LoL!


56 posted on 10/06/2008 2:53:37 PM PDT by Red Steel
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To: Pearls Before Swine

Good idea, but their supporters would probably be typical socalist/progressive/liberals/democrats and lie about who they were supporting before they were hooked up.


57 posted on 10/06/2008 2:56:18 PM PDT by dalcapret
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To: stubernx98

“Guess who funds Factcheck.”
Who does fund them? I need the info for a letter to the editor of The Cleveland Plain Dealer.


58 posted on 10/06/2008 2:58:35 PM PDT by Dr. Bogus Pachysandra ("Don't touch that thing")
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To: gov_bean_ counter

Are letters from Senators to Secretaries in the public domain? Or would it have to be subpoenaed in a lawsuit?

Perhaps Secy Paulson could make it available for the public good. The Treasury Dept (and all other govt agencies) has an office specifically for dealings with Members of Congress. A letter written by a Senator to a Department Secretary should be very easily available for all to see. It is official government business. It is our right to see the letter and to know exactly what it says.


59 posted on 10/06/2008 3:03:24 PM PDT by EDINVA
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To: 9YearLurker; Brookhaven
Brookhaven: "I broke it down paragraph by paragraph. It isn’t a warning about financial meltdown. It is a warning that we need MORE sub-prime loans.

Read it. It is amazing they can get away with saying Obama warned about the current crisis. Had they followed the advice in Obama’s “warning” letter, the crisis would have been WORSE."

-------------------------------------------------

SO Obama wanted more unsafe loans that would fix the "current crisis." LoL! His letter than is pure BS.

60 posted on 10/06/2008 3:04:28 PM PDT by Red Steel
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To: savedbygrace

bookmark


61 posted on 10/06/2008 3:05:49 PM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: Diogenesis
Re: 32

Hah! At first I thought you forged this letter as a joke (a la, the Onion). Then after I read the posts below I realized this is for real... I still half think I'm falling for the joke letter -- but this letter says to ease loan restrictions. Its proposing a solution by tossing more gasoline on the burning embers... May work when trying to 'burn-out' a fire (a technique I can't say that I completely grasp -- but the experts seem to pull it off) -- but not the wisest course to steer when dealing with a Financial crisis...
IF that letter is real -- these people are insane if they think it shows Mr. Obama was providing any useful warnings. He was as useful as an arsonist gone mad at the start of fire...

62 posted on 10/06/2008 3:06:20 PM PDT by El Cid (Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house...)
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To: just me
Barack Husssein Obama is a liar, he wants to take your money. silence free speech, grab your guns, and kill your babies..

He is the most dangerous man ever to run for president in American history.


Truth
63 posted on 10/06/2008 3:06:20 PM PDT by combat_boots (God, gun and babies. Justices, taxes and sovereignty. Otherwise known as White Trash. Count me in.)
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To: pabianice
Not reading the responses yet but if the claim is that he introduced legislation, it will be on Thomas. But that's right, Obama doesn't know that stuff is already out on the Internet.

Also, isn't it true that Obama never introduced substantial legislation? Or is he equating signing on as a co-signer an "introduction?" That's like jumping out in front of a marching band marching down the street and yelling out "follow me!"

64 posted on 10/06/2008 3:07:55 PM PDT by NonValueAdded (don't worry, they only want to take water out of the other guy's side of the bucket.)
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To: Red Steel

Thanks, I will—and he really should be called on it!


65 posted on 10/06/2008 3:07:57 PM PDT by 9YearLurker
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To: Diogenesis

Wow! He’s really concerned. A whole 30 words! That’s hard hitting. (Oct. 3, 2006)

And he really is asking “to further ease the availability of low-interest, high risk loans.” Yeah, that’s going to help.


66 posted on 10/06/2008 3:09:11 PM PDT by Right Wing Assault ("..this administration is planning a 'Right Wing Assault' on values and ideals.." - John Kerry)
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To: Proud_texan

It’s a lie.

McCain tried to reign them in in 2006, not Obamanation.


67 posted on 10/06/2008 3:12:27 PM PDT by Salvation ( †With God all things are possible.†)
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To: combat_boots

Thanks for the edit. :-)


68 posted on 10/06/2008 3:13:24 PM PDT by just me (JELLY BEANS AND WINKS...)
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To: pabianice

Fact check is a left wing PROPAGANDA site. Let’s see Obama talk about Odinga, I can’t wait to see the stuttering and stammering.

http://www.youtube.com/watch?v=S8QcpdUtxNQ

How about Obama openly campaigning for his communist cousin Odinga who signed a pact with Muslims to enact Sharia Law if elected and started riots when he lost. Obama campaigned for an openly Anti-American candidate in a foreign country in 2006.


69 posted on 10/06/2008 3:14:34 PM PDT by word_warrior_bob (You can now see my amazing doggie and new puppy on my homepage!! Come say hello to Jake & Sonny)
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To: Proud_texan
Just heard “whats her name” say something about Obama recommended a financial summit in 2006. No mention of legislation.

That was one of B Clintons tricks. When he was on the wrong side of an issue he would recommend a summit to get problems resolved. Remember him talking to union loggers in Oregon in 1992. They were concerned about restrictions to logging because of the spotted owl. Clinton said if elected he would hold a summit to get that resolved. Bush (elder) said he would do everything he could to make sure the the endangered species act was not used as a weapon to prevent logging. The union leaqders supported Clinton much to concern of the union members.

70 posted on 10/06/2008 3:14:59 PM PDT by TruthWillWin
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To: just me
"silence free speech"

In all fairness, so does Comrade Juan McNuts.

71 posted on 10/06/2008 3:16:09 PM PDT by Uncle Miltie (Bushonomics: Privatize Gains, Socialize Losses......."PAULSON'S THEFT")
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To: pabianice

At this point I figure that anything positive about BO is probably a lie. The guy has about as much redeeming value as John Kerry or Al Gore.


72 posted on 10/06/2008 3:19:36 PM PDT by Busywhiskers (Delinda est Democrats)
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To: Diogenesis

Scooooorrrre! Excellent find!


73 posted on 10/06/2008 3:23:53 PM PDT by papasmurf (I ain't your Daddy's Conservative, OK?)
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To: pabianice

Any democrat that introduced any kind of bill to reign in Fannie Mae would be hated by all the other democrats.

The only thing Obama was concerned about was keeping people in their homes at the expense of the American taxpayers.


74 posted on 10/06/2008 3:48:04 PM PDT by sazerac
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To: Brookhaven
Obama Urges Bernanke, Paulson to Fight Foreclosures, Hold Homeownership Summit
Thursday, March 22, 2007
Printable FormatFOR IMMEDIATE RELEASE

Contact: Ben LaBolt

WASHINGTON, DC -- U.S. Senator Barack Obama today sent a letter to Federal Reserve Chairman Bernanke and Treasury Secretary Paulson urging them to immediately convene a homeownership preservation summit with key stakeholders to fight foreclosures driven by growth in the subprime mortgage market.

(this is a warning?) The text of the letter is below:

Dear Chairman Bernanke and Secretary Paulson,

There is grave concern in low-income communities about a potential coming wave of foreclosures. Because regulators are partly responsible for creating the environment that is leading to rising rates of home foreclosure in the subprime mortgage market, I urge you immediately to convene a homeownership preservation summit with leading mortgage lenders, investors, loan servicing organizations, consumer advocates, federal regulators and housing-related agencies to assess options for private sector responses to the challenge.

We cannot sit on the sidelines while increasing numbers of American families face the risk of losing their homes. And while neither the government nor the private sector acting alone is capable of quickly balancing the important interests in widespread access to credit and responsible lending, both must act and act quickly.

Working together, the relevant private sector entities and regulators may be best positioned for quick and targeted responses to mitigate the danger. Rampant foreclosures are in nobody’s interest, and I believe this is a case where all responsible industry players can share the objective of eliminating deceptive or abusive practices, preserving homeownership, and stabilizing housing markets.

The summit should consider best practice loan marketing, underwriting, and origination practices consistent with the recent (and overdue) regulators’ Proposed Statement on Subprime Mortgage Lending. The summit participants should also evaluate options for independent loan counseling, voluntary loan restructuring, limited forbearance, and other possible workout strategies. I would also urge you to facilitate a serious conversation about the following:

What standards investors should require of lenders, particularly with regard to verification of income and assets and the underwriting of borrowers based on fully indexed and fully amortized rates.

How to facilitate and encourage appropriate intervention by loan servicing companies at the earliest signs of borrower difficulty.

How to support independent community-based-organizations to provide counseling and work-out services to prevent foreclosure and preserve homeownership where practical. (read ACORN)

How to provide more effective information disclosure and financial education to ensure that borrowers are treated fairly and that deception is never a source of competitive advantage.

How to adopt principles of fair competition that promote affordability, transparency, non-discrimination, genuine consumer value, and competitive returns.

How to ensure adequate liquidity across all mortgage markets without exacerbating consumer and housing market vulnerability.

Of course, the adoption of voluntary industry reforms will not preempt government action to crack down on predatory lending practices, or to style new restrictions on subprime lending or short-term post-purchase interventions in certain cases. My colleagues on the Senate Committee on Banking, Housing and Urban Affairs have held important hearings on mortgage market turmoil and I expect the Committee will develop legislation. (it didn't)

Nevertheless, a consortium of industry-related service providers and public interest advocates may be able to bring quick and efficient relief to millions of at-risk homeowners and neighborhoods, even before Congress has had an opportunity to act. There is an opportunity here to bring different interests together in the best interests of American homeowners and the American economy. Please don’t let this opportunity pass us by.

Sincerely,

U.S. Senator Barack Obama

So the Messiah asked for it. If he is so persuasive, why didn't anyone listen to his punk ass?

75 posted on 10/06/2008 3:50:44 PM PDT by Bommer (Who was Obama's diction coach? Bevis or Butthead? Uhhhhhh.....)
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To: gov_bean_ counter

Didn’t he sponsor the Global Poverty something or other where he wanted to GIVE more of our tax money to the UN?


76 posted on 10/06/2008 3:51:21 PM PDT by IM2MAD
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To: Diogenesis

Ooh! That’s gonna leave a mark.


77 posted on 10/06/2008 3:54:34 PM PDT by IM2MAD
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To: queenkathy
I also heard her say that McCain said “above his pay grade”. I don't think she was confused, I think she said that for the people who weren't paying attention before when nObama said it.
78 posted on 10/06/2008 3:55:46 PM PDT by Ditter
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To: Longstreet63

“....she’s confusing McCain’s action versus Obama’s inaction...”

No confusion .... the traitor party is panicked, that’s an outright lie, again.

The lights have just been turned on, the rats will run.... off at their moths, and lie about anything.


79 posted on 10/06/2008 3:56:03 PM PDT by Gator113 ("Noli nothis permittere te terere.")
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To: pabianice; Diogenesis; All
in 2006 Obama introduced legistation in the US Senate to rein-in and better control sub-prime loans backed by Fannie May and Freddie Mack

What bovine excrement. He wanted more risky loans.

Dear Secretary Paulson,

I fear there will be a serious financial crisis among those Americans most in need if immediate action is not taken to further ease the availability of low interest high-risk loans.

Sincerely,
Barack Osama

80 posted on 10/06/2008 4:08:18 PM PDT by McGruff (Read my lips, NO NEW BAILOUTS!)
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To: eggman
He used to be The One but he added Biden

That would make him a negative number then. But I guess "The -8" does not quite roll off the tongue like "The Zero."
81 posted on 10/06/2008 4:21:58 PM PDT by attiladhun2 (Obama is the anti-Reagan, instead of opposing the world's tyrants, he wants to embrace them)
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To: Diogenesis
Interesting signature........

The "O" in Obama...is CANCELLED!!! ROFLOL!!!

82 posted on 10/06/2008 4:30:16 PM PDT by Osage Orange (" I did not have radical relations with that man, William Ayers. " -Barack Hussein Obama)
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To: Proud_texan
he "contacted Paulson"

The treasury secretary does not originate legislation - though he might propose it. Congress does. You know. Folks like O. They get out a keyboard, and type out proposal for legislation, pass it around, see if they can get cosponsors, and then propose it in committee.

83 posted on 10/06/2008 4:36:12 PM PDT by AndyJackson
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To: McGruff

Obama said:

... “if action is not taken to further “ *ease*{decrease} the availability of low interest high-risk loans.”

He did NOT say:

‘increase’ the availability of low interest high-risk loans
... or did I miss something?

STE=Q


84 posted on 10/06/2008 4:39:49 PM PDT by STE=Q ("These are the times that try men's souls." -- Thomas Paine)
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To: Dr. Bogus Pachysandra

The Annanberg Foundation funds Factcheck.org


85 posted on 10/06/2008 5:09:09 PM PDT by stubernx98 (cranky, but reasonable)
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To: pabianice

what’s the red-head suck-up’s name? (I admit I have not read all the posts yet)


86 posted on 10/06/2008 5:15:44 PM PDT by isom35
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To: Diogenesis

Honestly? Please, is that a real letter? Could this be the single document in question?

A number of follows (posts following) but this poster is asking for a source and statement.

Does this letter represent the letter Biden referred to in his debate with Palin?

Is this for realsies? How can I find letters like this, go to community college and take photoshop 110?


87 posted on 10/06/2008 6:16:42 PM PDT by widdle_wabbit
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To: Brookhaven

The link is missing, broke or being re-negotiated. Seems some body is working on it (the letter)?


88 posted on 10/06/2008 6:23:43 PM PDT by widdle_wabbit
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To: attiladhun2
Joe Biden is The Negative One as he proved at the debate and many times on the campaign trail. But the media is more concerned about what Sarah Palin reads than Joe believing Roosevelt went on TV in 1929, asking paraplegics to stand up, and imagining he is a regular guy chatting with constituents in a restaurant named Katie's that was closed almost 20 years ago. There you go again Joe.
89 posted on 10/06/2008 7:54:03 PM PDT by eggman (Obama is now The Zero. He used to be The One but he added Biden.)
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To: guardian_of_liberty

Yeah, wasn’t it a two sentence letter? ... I saw that thing and thought how easy it would be to forge such a letter now. Paulson would cooperate with a fraud, given Paulson’s recent favoring Obama, in the finance summit invitation to the White House when Paulson sent the Republican sticking points to him in advance, privately. Paulson is as treacherous a man as has ever hissed about a White House.


90 posted on 10/06/2008 8:03:19 PM PDT by MHGinTN (Believing they cannot be deceived, they cannot be convinced when they are deceived.)
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To: pabianice

Should have asked her what the bill number was and who were the co-sponsors.


91 posted on 10/06/2008 8:18:29 PM PDT by Mike Darancette (Nyet-Bama)
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To: eggman

Hey cut the media a little slack. Look at the horde of reporters who descended on the southside of Chicago after Obama cinched the Dem nomination. They worked night and day to find out the truth about Obama.


92 posted on 10/10/2008 2:13:15 PM PDT by attiladhun2 (Obama is the anti-Reagan, instead of opposing the world's tyrants, he wants to embrace them)
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To: pabianice

IIRC, he said he sent a letter.

I don’t think he’s produced it yet.


93 posted on 10/10/2008 2:16:11 PM PDT by dixiechick2000 (Sarah'cuda Rocks)
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To: pabianice

Oh...and I don’t believe it.

If he had, he would be able to physically prove it.
He hasn’t thus far.


94 posted on 10/10/2008 2:17:49 PM PDT by dixiechick2000 (Sarah'cuda Rocks)
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