http://www.freerepublic.com/tag/fannie/ en-us Sat, 11 Oct 2008 21:40:04 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2103348/posts Sen. John McCain's 2006 demand for regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis, as HUMAN EVENTS learned from the letter shown in full text below. [Includes screenshot] Human Events http://www.freerepublic.com/focus/f-news/2103348/posts#comment Sat, 11 Oct 2008 21:40:04 GMT http://www.freerepublic.com/focus/f-news/2103262/posts Maxine Waters, a key Democrat congresswoman that has been implicated in blocking government oversight that could have prevented the current financial crisis, was caught lying Friday evening about her connection to failed lenders Fannie Mae and Freddie Mac. During the panel discussion of HBO's "Real Time," Waters was challenged by the Wall Street Journal's Stephen Moore about the campaign contributions she's received from these government sponsored enterprises. Despite what public records clearly show, Waters denied she had ever taken any money from these two companies Newsbusters.org http://www.freerepublic.com/focus/f-news/2103262/posts#comment Sat, 11 Oct 2008 19:25:44 GMT http://www.freerepublic.com/focus/f-news/2103246/posts Sen. John McCain's 2006 demand for regulatory action on Fannie Mae and Freddie Mac could have prevented current financial crisis, as HUMAN EVENTS learned from the letter shown in full text below. McCain's letter -- signed by nineteen other senators -- said that it was "...vitally important that Congress take the necessary steps to ensure that [Fannie Mae and Freddie Mac]...operate in a safe and sound manner.[and]..More importantly, Congress must ensure that the American taxpayer is protected in the event that either...should fail." Sen. Obama did not sign the letter, nor did any other Democrat. Human Events http://www.freerepublic.com/focus/f-news/2103246/posts#comment Sat, 11 Oct 2008 18:54:16 GMT http://www.freerepublic.com/focus/f-news/2102605/posts Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. NYT http://www.freerepublic.com/focus/f-news/2102605/posts#comment Fri, 10 Oct 2008 21:10:48 GMT http://www.freerepublic.com/focus/f-news/2101842/posts Worse than the AIG Spa Vacation (updated)Thomas Lifson October 09, 2008 The last few days we have been treated to hyperventilation over the outrage of AIG executives attending a lavish sales incentive meeting at a ritzy California spa. I hope that Henry Waxman and his committee will be evenhanded in exposing this outrage. But I bet they will ignore Raines. Franklin Raines, the Democrat who inflated Fannie Mae earnings in order to pay himself fabulous bonuses, earning $90 million dollars, is feeling none of the real estate market pain he helped to create for so many others. The Washingtonian reports:... American Thinker http://www.freerepublic.com/focus/f-news/2101842/posts#comment Fri, 10 Oct 2008 00:22:40 GMT http://www.freerepublic.com/focus/f-bloggers/2100534/posts I'll keep this short and sweet. Someone needs to tell McCain that Fannie Mae and Freddie Mac are the epitome of failed government regulation. They were created to regulate the way loans are doled out, n'est pas? So the next time His Highness, Obama, slams McCain for "bragging" about being a de-regulator, he needs to grow a pair and point this out! And while he's at it, he needs to create "ECORN" Expose the Community Activist Right Now. Okay, I feel better now. I can eat my sandwich. http://www.freerepublic.com/focus/f-bloggers/2100534/posts#comment Wed, 8 Oct 2008 16:15:43 GMT http://www.freerepublic.com/focus/f-news/2099931/posts [snip] As alleged in the complaint, in 2007, U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke urged Fannie Mae to raise more money and bolster its balance sheet in order to comply with existing and impending regulations. Accordingly, Fannie Mae embarked upon a capital raising campaign, which was designed to reinforce the Company's balance sheet for: (i) continued satisfaction of government mandated capital requirements, thus allowing the Company to continue purchasing mortgages from banks nationwide; (ii) to increase shareholder value; and (iii) to provide stability to the secondary mortgage market. The Offering, which was part of... MarketWatch http://www.freerepublic.com/focus/f-news/2099931/posts#comment Tue, 7 Oct 2008 22:17:05 GMT http://www.freerepublic.com/focus/f-news/2099822/posts View a slideshow on the senators and congressmen who let the mortgage meltdown happen. As the finger-pointing ramps up worldwide about the causes of the financial meltdown, one of the major culprits is clear: the reckless priming of the mortgage market by Freddie Mac and Fannie Mae, both government-sponsored enterprises. Since at least 2003, there have been numerous efforts to put Fannie and Freddie on a tighter leash. Each was defeated, in large part by Democrats—many of them major recipients of campaign contributions from Fannie and Freddie. In the accompanying media gallery, The Daily Beast documents in detail the main... The Daily Beast http://www.freerepublic.com/focus/f-news/2099822/posts#comment Tue, 7 Oct 2008 19:53:50 GMT http://www.freerepublic.com/focus/f-news/2099679/posts Republicans, for their part, launched a campaign to pin the financial meltdown on Fannie Mae and Freddie Mac, and attacked Waxman for not holding a hearing to dig into the now-nationalized mortgage giants. “Any hearing on oversight that does not begin with Fannie and Freddie and [former Fannie Mae CEO] Franklin Raines will be a sham,” said Rep. John Mica (R-Fla.). “This is like investigating a train robbery and only talking to the dining car stewards.” The GOP attack from the dais came as the National Republican Campaign Committee and House Minority Leader John Boehner (R-Ohio) sent nearly simultaneous news... The Hill http://www.freerepublic.com/focus/f-news/2099679/posts#comment Tue, 7 Oct 2008 16:53:22 GMT http://www.freerepublic.com/focus/f-news/2099667/posts Democrats refuse to talk about Fannie, Freddie in Oversight hearing posted at 11:22 am on October 7, 2008 by Ed Morrissey Send to a Friend | printer-friendly Democrats have begun a search for the culprit in the financial collapse in a manner somewhat akin to the OJ Simpson search for Nicole Brown and Ron Goldman’s murderer. The Hill reports that Henry Waxman’s Oversight Committee hearing grilled Lehman Brothers executives over CEO pay and “deregulation”, but never mentioned the names Fannie Mae and Freddie Mac. Republicans found that more than a little strange: Democrats aimed their harshest attacks at deregulation and... Hot Air http://www.freerepublic.com/focus/f-news/2099667/posts#comment Tue, 7 Oct 2008 16:38:17 GMT http://www.freerepublic.com/focus/f-news/2099646/posts "For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems." Read entire timeline here. Very interesting. The White House http://www.freerepublic.com/focus/f-news/2099646/posts#comment Tue, 7 Oct 2008 16:15:26 GMT http://www.freerepublic.com/focus/f-news/2099564/posts ...the reason no one focuses on Obama's "community organizing" is because few understand how it fits into the big picture. focus, trace, read [click acorn] - revisit if necessary - but do understand why a) Obama has gotten to where he is and why he threatens to continue that meteoric rise - with your tax money - straight to the white house and b) how Obama, his advisors & the dems are linked to the biggest financial meltdown since the Great Depression. justsaynodeal.com http://www.freerepublic.com/focus/f-news/2099564/posts#comment Tue, 7 Oct 2008 14:11:26 GMT http://www.freerepublic.com/focus/f-news/2099421/posts Well, no one ever accused Sen. Chuck Schumer of letting any sense of shame hold him back. Ditto for irony. Still, it was a bit surreal to see Schumer - one of the prime apologists for the faulty federally backed mortgages now dealing body-blows to the US financial system - laying the groundwork yesterday for yet more government meddling in the loan business. "We need to build an impermeable wall around the student-loan market to protect our kids from this financial crisis," he said at Stuyvesant HS in Manhattan. It's unclear exactly what such an "impermeable wall" might look like,... NY Post http://www.freerepublic.com/focus/f-news/2099421/posts#comment Tue, 7 Oct 2008 10:56:31 GMT http://www.freerepublic.com/focus/f-news/2099123/posts If you e-mail only one video this year to your undecided family and friends, let it be this one. Or, I guess, this one. hotair http://www.freerepublic.com/focus/f-news/2099123/posts#comment Tue, 7 Oct 2008 00:22:29 GMT http://www.freerepublic.com/focus/f-news/2099113/posts I am not a big fan of Bill O'Reilly, but why is he doing the job of the Main Street Media by himself? Why are the Republicans so mute? TUNE IN NOW! BOR is going to talk about the romantic involvement with a Fannie Mae executive. We know the drill folks, but tune in while SOMEONE in the media is bothering to cover the facts. http://www.freerepublic.com/focus/f-news/2099113/posts#comment Tue, 7 Oct 2008 00:08:31 GMT http://www.freerepublic.com/focus/f-news/2098969/posts U.S. Rep Frank vows more financial policingBy Svea Herbst-Bayliss and Scott Malone Reuters - 1 hour 22 mins ago NEWTON, Massachusetts (Reuters) - Blaming lax regulation for what turn into the worst U.S. financial crisis since the Great Depression, U.S. Rep. Barney Frank vowed on Monday to police banks and hedge funds more actively to avoid future financial meltdowns. Frank, the powerful chairman of the House Financial Services Committee who has been credited with largely shaping the $700 billion (401 billion pound) bailout plan, also said he expects the cost of to be much less. Frank said next year's agenda... Yahoo http://www.freerepublic.com/focus/f-news/2098969/posts#comment Mon, 6 Oct 2008 21:15:05 GMT http://www.freerepublic.com/focus/f-chat/2098909/posts If you had purchased $1,000 of AIG stock one year ago, you would have $42 left. With Lehman, you would have $6.60 left. With Fannie or Freddie, you would have less than $5 left. But if you had purchased $1,000 worth of beer one year ago, drank all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have had $214. Marketwatch.com community forum http://www.freerepublic.com/focus/f-chat/2098909/posts#comment Mon, 6 Oct 2008 19:46:40 GMT http://www.freerepublic.com/focus/f-news/2098904/posts 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. Obama Senate Website http://www.freerepublic.com/focus/f-news/2098904/posts#comment Mon, 6 Oct 2008 19:45:32 GMT http://www.freerepublic.com/focus/f-news/2097902/posts A decision, made under pressure from Congress and investors, to steer Fannie Mae into dangerous corners of the mortgage market proved to be disastrous. The New York Times http://www.freerepublic.com/focus/f-news/2097902/posts#comment Sun, 5 Oct 2008 12:34:42 GMT http://www.freerepublic.com/focus/f-news/2097789/posts The rise and fall of our housing market and how did it happen? This is a very high level overview of the pertinent facts. Ok we have heard a lot of talk back and forth on what caused the problems that led to the economic meltdown this year. We have heard that it is both party's fault and that the Democrats share the blame equally with others. Additionally people want you to believe that Glass-Steagal is the main cause here. What I am going to try to do is provide the core facts of this scenario all the way back... my own two cents http://www.freerepublic.com/focus/f-news/2097789/posts#comment Sun, 5 Oct 2008 03:57:42 GMT http://www.freerepublic.com/focus/f-news/2096971/posts WASHINGTON — Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s. So did Frank’s gay partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions. Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which... Fox News http://www.freerepublic.com/focus/f-news/2096971/posts#comment Fri, 3 Oct 2008 21:15:18 GMT http://www.freerepublic.com/focus/f-news/2096964/posts I cannot source this, but I heard the other day that Ms. Gorelick had worked for Fannie may at a salary of a little over $500,000 and left with $26,000,000 in bonuses. The bio on her website says she was Vice Chair of Fannie Mae from 1997 to 2003. She is a Harvard elitist (see link below). Jamie GorelickApparently she did a horrible job and left with a 26 million dollar bonus. To me, something just doesn't look right here. I think there should be a thorough investigation to see if any laws were broken and if she (and Franklin... Radio Report http://www.freerepublic.com/focus/f-news/2096964/posts#comment Fri, 3 Oct 2008 21:05:12 GMT http://www.freerepublic.com/focus/f-news/2096867/posts Normally I would think it quite presumptuous for someone such as myself, with no formal experience running a campaign or advising a candidate, to make specific recommendations to a presidential candidate. However, my frustration level is extremely high and the stakes are obviously very high, so I am going to do it anyway. The general thesis is that you are not attacking Obama and the democrats in general with enough strength and specificity regarding Fannie Mae/Freddie Mac. I am not alone. Just last night, Brit Hume and Charles Krauthammer expressed disbelief that you have not attacked on an issue which... Vanity http://www.freerepublic.com/focus/f-news/2096867/posts#comment Fri, 3 Oct 2008 19:11:53 GMT http://www.freerepublic.com/focus/f-chat/2096799/posts No sooner had the $805B bail-out bill passed the House than Pelosi went to the TV cameras and promised show trials under Henry Waxman to pin the blame for this mess (on Republicans). She then praised Barney Frank's courage and leadership in delivering the country from the evil of Republicans in general and Wall Street in particular. Denny Hoyer then spoke of how we must never let the greedy lenders destroy the economy and that he is going to make sure that never happens again. James Clyburn assured viewers that Congress will make sure that no one loses their home... Fox News http://www.freerepublic.com/focus/f-chat/2096799/posts#comment Fri, 3 Oct 2008 17:53:01 GMT http://www.freerepublic.com/focus/f-news/2096030/posts A new YouTube group, Taxpayers for Truth, has a good question to ask today. The Bush administration frog-marched executives from Enron, Tyco, and Worldcom into federal prison for their financial shenanigans, in collapses that look positively microscopic in the wake of the failure of Fannie Mae and Freddie Mac. Why hasn’t anyone in the recent failure received the same treatment? Here is the roster presented by the video, in brief: Bernard Ebbers, Worldcom: 25 years in prisonKen Lay, Enron: Convicted on 10 counts, died before serving sentenceJeff Skilling, Enron: 24 years in prisonAndrew Fastow, Enron: 10 years in prisonDennis Koslowski,... HotAir http://www.freerepublic.com/focus/f-news/2096030/posts#comment Thu, 2 Oct 2008 19:48:15 GMT