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  • McCain Claims ‘Massive Cover-Up’on Benghazi

    02/18/2013 5:06:23 AM PST · by lbryce · 32 replies
    Yahoo News ^ | February18, 2013 | Dylan Stableford
    While discussing the contentious confirmation hearings for defense secretary nominee Chuck Hagel, things got a bit heated on Sunday's "Meet The Press" when Sen. John McCain referred to the lack of information from the White House surrounding the Sept. 11, 2012 attacks in Benghazi as a "massive cover-up." "There are so many answers we don't know," McCain told host David Gregory. "We've had two movies about getting bin Laden and we don't even know who the people were who were evacuated from the consulate the day after the [Benghazi] attack. So there are many, many questions. So we've had a...
  • 'Obama was born in Kenya and raised in Indonesia and Hawaii': President claims he WAS born in Africa

    05/17/2012 1:43:58 PM PDT · by Brown Deer · 147 replies
    Mail Online ^ | 17 May 2012 | Beth Stebner
    In the cover for a 1991 booklet, President Obama is billed as ‘the first African-American president of the Harvard Law Review, (who) was born in Kenya and raised in Indonesia and Hawaii.’ ‘It is evidence – not of the President’s foreign origin, but that Barack Obama’s public persona has perhaps been presented differently at different times.’ President Obama released his birth certificate to the public last April. He said during a press briefing at the time that he was ‘puzzled at the degree to which this thing just keeps going on.’ He said: ‘We’ve had every official in Hawaii, Democrat...
  • Terminated CBO Whistleblower Exposes Deep Conflicts At "Impartial" Budget Office

    03/15/2012 11:40:51 PM PDT · by Mount Athos · 17 replies
    Zero Hedge ^ | 03/15/2012 | Tyler Durden
    I am making public the letter that I wrote to Senator Grassley (Feb. 23, 2011) regarding circumstances that led to my firing after 2.5 months by the Congressional Budget Office (CBO), particularly my writing about mortgage fraud and its roots in mortgage securitization that CBO sought to deny was a problem. I was repeatedly pressured by the CBO Assistant Director, Deborah Lucas… to not write nor discuss issues in the banking sector and mortgage markets that might suggest weakness in these sectors and their consequences on the economy and households... …Issues at the heart of the foreclosure problems pertain to...
  • NBC, Brokaw denounce Romney ad

    01/28/2012 7:50:01 PM PST · by NKP_Vet · 16 replies
    http://politico.com ^ | January 28, 2012 | Maggie Haberman
    Via POLITICO's Reid Epstein, NBC News and Tom Brokaw are loudly objecting to the Mitt Romney campaign's use of footage from the 1990s in an ad blasting Newt Gingrich over his House ethics charges. Brokaw, whose statement noted he was speaking on his behalf, said, "I am extremely uncomfortable with the extended use of my personal image in this political ad. I do no want my role as a journalist compromised for political gain by any campaign." "The NBC Legal Department has written a letter to the campaign asking for the removal of all NBC News material from their campaign...
  • NBC's Gregory Defends ObamaMideast Policy Vs. Santorum,Defends Election Win

    01/01/2012 1:20:56 PM PST · by Nachum · 47 replies · 1+ views
    Newsbusters ^ | 1/1/12 | Brad Wilmouth
    On Sunday's Meet the Press on NBC, as guest Rick Santorum criticized President Obama for not supporting a democracy movement in Iran that might have weakened the anti-America radical Muslim government of Tehran, but, by contrast, supported a democracy movement in Egypt directed against a pro-America government - which resulted in an election that recently handed more power in Cairo to radical Muslims - host David Gregory accused the GOP presidential candidate of being "patently contradictory." As he moved into this foreign policy portion of the interview, Gregory brought up a recent speech in which Santorum accused President Obama of
  • NBC/WSJ poll: Romney Struggles With Primary Voters, Gingrich With General Electorate [Newt: 50% No]

    12/17/2011 3:10:31 PM PST · by Steelfish · 78 replies
    MSNBC ^ | December 16, 2011 | Mark Murray
    NBC/WSJ poll: Romney Struggles With Primary Voters, Gingrich With General Electorate By Mark Murray, Deputy Political Director, NBC News WASHINGTON - Exactly three weeks until the first Republican presidential nominating contest in Iowa, front-runners Newt Gingrich and Mitt Romney have two different challenges, according to a new NBC News/Wall Street Journal poll. Romney faces a challenge with the Republican primary electorate, trailing Gingrich nationally by 17 percentage points as nearly two-thirds of Republicans view him as either liberal or moderate. Gingrich, meanwhile, faces a challenge with the general electorate, as half of all voters say they wouldn’t vote for him...
  • Brian Williams Lottery (Guess the Date When he is forced to utter "Fast & Furious")

    12/14/2011 7:20:27 AM PST · by PJ-Comix · 23 replies
    Self | December 14, 2011 | PJ-Comix
    So far the sum total of the times that Operation Fast & Furious has been mentioned on NBC is exactly ONE time and that was when it briefly mentioned in passing on Dateline NBC. Even though this scandal has been much discussed on the Web and covered in detail on CBS by Sharyl Attkinson, Brian Williams has yet to even mention this scandal once. However, there might come a point where even Brian Williams' virgin lips will be forced to be "deflowered" by uttering the taboo words "Fast & Furious." Therefore let us have a Brian Williams Fast & Furious...
  • Fannie and Freddie Big Wigs Under Fire For Lavish Spending and Bonuses

    12/01/2011 4:24:54 PM PST · by mandaladon · 12 replies
    US News ^ | 1 Dec 2011
    Embattled government mortgage giants Fannie Mae and Freddie Mac were under fire again Thursday as the House Committee on Financial Services grilled leaders on "lavish" spending and executive pay. This after the government mortgage giants both posted huge losses last quarter and have appealed to the Treasury Department for more funds—almost $14 billion between them—to shore up their shaky balance sheets. With a hefty dose of indignation, Texas Republican Rep. Randy Neugebauer railed on Fannie Mae chief Michael Williams about more than $5 million budgeted for "meals and social activities" for employees—wondering why a taxpayer-funded organization in major financial trouble...
  • Fannie, Freddie Execs Defend Pay Packages

    11/16/2011 10:03:43 AM PST · by tobyhill · 11 replies
    fox business ^ | 11/16/2011 | reuters
    Top executives at Fannie Mae and Freddie Mac on Wednesday defended their companies' pay practices which have drawn opposition after it was disclosed the government-controlled firms were paying out nearly $13 million in executive bonuses. Michael Williams, chief executive of Fannie Mae, and Charles Haldeman, Freddie Mac's chief executive, both argued the compensation structures at the mortgage finance firms were warranted to retain and attract qualified staff. A bill to block the pay packages was approved by the House Financial Services Committee on Tuesday in a 52-4 vote. The full House must still vote on the measure. A similar bill...
  • (Obama Supporters) Fannie, Freddie execs score $100 million payday

    11/15/2011 4:32:12 AM PST · by tobyhill · 18 replies
    cnn money ^ | 11/15/2011 | staff
    Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show. The top five executives at Fannie Mae received $33.3 million in 2009 and 2010, while the top five at Freddie Mac received $28.1 million. And each company has set pay targets of as much as $17 million for its top managers for 2011. That's a total of $95.4 million, which will essentially be coming from taxpayers, who have been keeping the mortgage finance giants alive...
  • Fannie Mae taps $7.8 billion from Treasury, loss widens

    11/08/2011 4:55:47 PM PST · by Sub-Driver · 18 replies
    Fannie Mae taps $7.8 billion from Treasury, loss widens Photo 6:42pm EST WASHINGTON (Reuters) - Fannie Mae, the biggest source of money for U.S. home loans, on Tuesday said it needed a further $7.8 billion in federal aid to stay afloat as a shaky housing market widened its third-quarter loss to $5.1 billion. Fannie Mae also attributed the deeper cash drain to losses on derivatives that are used to hedge the firm's exposure to swings in interest rates and expenses related to home loans made prior to the 2008 financial collapse. In the year-earlier quarter it had a loss of...
  • Freddie Mac Loses $4.4B in Third Quarter, Requests $6B More From Treasury

    11/03/2011 10:20:35 AM PDT · by ETL · 43 replies
    AP via Fox News ^ | November 03, 2011 | Associated Press
    Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter. Freddie Mac said Thursday that it lost $4.4 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in the same quarter of 2010. This quarter's $6 billion request from taxpayers is the largest since April 2010.
  • Fannie Mae, Freddie Mac Executives Get Big Housing Bonuses

    11/01/2011 8:13:51 AM PDT · by TexasCajun · 12 replies
    Politico.com ^ | 10/31/11 11:32 PM EDT | JOSH BOAK & JOSEPH WILLIAMS
    The Obama administration’s efforts to fix the housing crisis may have fallen well short of helping millions of distressed mortgage holders, but they have led to seven-figure paydays for some top executives at troubled mortgage giants Fannie Mae and Freddie Mac. The Federal Housing Finance Agency, the government regulator for Fannie and Freddie, approved $12.79 million in bonus pay after 10 executives from the two government-sponsored corporations last year met modest performance targets tied to modifying mortgages in jeopardy of foreclosure. The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in...
  • GM Spends Taxpayer Money to Lobby for More Taxpayer Money

    07/05/2011 9:06:45 AM PDT · by jazusamo · 16 replies
    National Legal & Policy Center ^ | July 5, 2011 | Mark Modica
    According to CNBC, General Motors has ramped up its lobbying efforts to the tune of $3.58 million in the first quarter of 2011. This is nearly triple the $1.36 million it spent in the first quarter of the prior year. It is also over double the $1.67 million spent by non-bailed out Ford in the same quarter. The $50 billion that taxpayers gave to bail out GM is now partially being distributed back to President Obama, Congress and a variety of agencies in an effort by GM to, well, receive more taxpayer money.One of the requests made by GM lobbyists...
  • NBC’s ‘Under God’ Omission Prompts Calls for Boycott, Firing

    06/20/2011 11:14:58 AM PDT · by CNSNews · 24 replies
    CNSNews ^ | 6/20/11 | Melanie Hunter
    (CNSNews.com) – NBC apologized for omitting the words “under God” and “indivisible” from the Pledge of Allegiance during Sunday’s U.S. Open, but the incident has touched off calls for NBC to hold those responsible for the omission accountable. During the opening broadcast of the U.S. Open, NBC showed a montage that included children reciting the pledge, but the words “under God” and “indivisible” were omitted twice. The network received immediate backlash about the incident through social media, including tweets calling for a boycott of NBC. “We began our coverage of this final round just about three hours ago, and when...
  • NBC Omits “Under God”, “One Nation’ & “Indivisible” From Pledge Before US Open

    06/19/2011 6:35:49 PM PDT · by Halfmanhalfamazing · 21 replies
    Iconic Surrealism ^ | June 20th | Jay Busbee
    Listen to the pledge of allegiance that runs alongside the patriotic images, and later to the one that overlays video of previous U.S. Open winners: (VIDEO)
  • NBC Offers Incomplete Apology For Editing 'Under God' Out Of Pledge

    06/19/2011 3:15:59 PM PDT · by governsleastgovernsbest · 21 replies
    NewsBusters ^ | Mark Finkelstein
    As Noel Sheppard reported earlier, in the show-opening feature of its coverage of the final round of the US Open golf championship today, NBC--twice--edited out the words "under God" from its clip of school children reciting the Pledge of Allegiance. Clearly many Americans were offended and let NBC know about it. Because later in the broadcast, one of the announcers issued an apology. But the network simply compounded one omission with another. The apology spoke of "a portion of the Pledge" being edited out--but never mentioned that the omitted words were "under God." View video here.
  • Blame the Economy on Welfare Queen General Electric

    06/14/2011 8:46:38 AM PDT · by Kaslin · 14 replies
    Townhall.com ^ | June 14, 2011 | John Ransom
    With data showing that the housing market has gone into reverse, another of Obama’s blue ribbon panels is about to report to the president on ways to get the U.S. economy going. Heading up the President's Council on Jobs and Competitiveness is corporate welfare queen GE’s Jeffery Immelt.Expect, then, Obama’s Council on Jobs and Competitiveness headed by Immelt to recommend more of the top-down central planning where Big Business, Big Labor and Big Government connive to divide up the jobs pie at the expense of the rest of us, the little guys. The program will kind of be like Obamacare,...
  • Fannie, Freddie: Too Big To Fail?

    06/13/2011 7:42:59 PM PDT · by Kaslin · 7 replies
    IBD Editorials ^ | June 13, 2011 | Staff
    Subprime Scandal: Turns out the true cost of bailing out Fannie Mae and Freddie Mac is double what the White House claims. Yet reforming the failed mortgage giants remains in limbo. In a new report delivered to the House Budget Committee, the Congressional Budget Office puts the bailout figure at $317 billion — not the $130 billion claimed by the Obama administration, which has vowed to "reform" Fannie and Freddie. And CBO says costs to taxpayers will continue to rise as the housing market weakens. Why low-ball the bleeding from these quasi-governmental agencies? Because the White House doesn't really want...
  • 'Just Shut Up': Scarborough Shouts Down RNC Chairman's Words On Weiner

    06/13/2011 5:03:16 AM PDT · by governsleastgovernsbest · 55 replies
    When on today's Morning Joe, Mika Brzezinski tried to report the comments of RNC Chairman Reince Priebus on Weinergate, Joe Scarborough shut her down and shut the comments out. "It's just stupid. Just shut up," said Scarborough of Priebus. View video here.
  • Bailout Costs Double as Taxpayers Pick Up the Bill [Your Wallet and Your Life]

    06/09/2011 1:54:09 PM PDT · by 92nina · 1 replies
    Center for Fiscal Accountability ^ | 2011-06-07 | Soren Kreider
    When the federal government stepped in to prevent Fannie Mae and Freddie Mac from collapsing in 2008, it stuck the taxpayers with a hefty bill. Since 2008, the federal government has sunk $162.4 billion into these government sponsored enterprises (GSEs) without any form of taxpayer protection. But the true magnitude of the cost this bailout has foisted upon the taxpayer is actually far greater, according to a report released by the Congressional Budget Office (CBO) last week. By putting Fannie Mae and Freddie Mac into conservatorship, the federal government effectively became the owner of both entities. Yet the government’s accounting...
  • "Fanniegate" Is Really Bad News For Democrats

    06/09/2011 1:04:35 PM PDT · by Brookhaven · 36 replies
    Business Insider ^ | 6-7-11 | Walter Russell Mead
    Democrats, watch out. The Republican Party and especially its Tea Party wing have just acquired a new weapon of mass destruction — and it has nothing to do with any of Congressman Wiener’s rogue body parts. If they deploy this weapon effectively in the next election cycle — a big if — then they have the biggest opportunity to move the country rightward since Ronald Reagan took the oath of office back in 1981. The Tea Party WMD stockpile is currently stored in book form: Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon. By Gretchen Morgenson,...
  • Obama falsely claims that GM repaid bailout… Again

    For the second time President Obama has falsely claimed that General Motors repaid the bailout they received from the American taxpayers. The first time Obama lied to the American people about GM repaying its loan was in April 2010. This past Saturday the president was at it again telling a crowd in Ohio “Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency.” Glenn Kessler does an outstanding job ripping the president apart at his blog the Fact Checker but the key to Obama’s argument are the words “during my presidency.”...
  • Fanniegate: Gamechanger For The GOP?

    Fanniegate: Gamechanger For The GOP? Walter Russell Mead Democrats, watch out.The Republican Party and especially its Tea Party wing have just acquired a new weapon of mass destruction — and it has nothing to do with any of Congressman Wiener’s rogue body parts. If they deploy this weapon effectively in the next election cycle — a big if — then they have the biggest opportunity to move the country rightward since Ronald Reagan took the oath of office back in 1981.The Tea Party WMD stockpile is currently stored in book form: Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led...
  • Defiant Morning Joe Defends Burying Weiner-gate

    06/08/2011 5:20:08 AM PDT · by governsleastgovernsbest · 53 replies · 2+ views
    NewsBusters ^ | Mark Finkelstein
    Yesterday, this column jibed Joe Scarborough & Co. for blacking out, during Morning Joe's first half-hour, coverage of Anthony Weiner's epic news conference of the day before. Today, a defiant Scarborough dismissed the criticism the show received, boasting "we'll talk about what we feel like talking about." When the show opened today, it at first seemed that Scarborough was about to make amends for yesterday's poor news judgment. But Joe's mock contrition was just a set-up for a joke. View video here.
  • True Cost of Fannie, Freddie Bailouts: $317 Billion, CBO Says

    06/06/2011 8:13:48 AM PDT · by CNSNews · 13 replies
    CNSNews ^ | 6/6/11 | Matt Cover
    (CNSNews.com) – The Congressional Budget Office (CBO) says the real cost of the federal government guaranteeing the business of failed mortgage giants Fannie Mae and Freddie Mac is $317 billion -- not the $130 billion normally claimed by the Obama administration. In a report delivered to the House Budget Committee on June 2, the CBO said a “fair value” accounting of guaranteeing the two defunct mortgage companies – known as Government Sponsored Enterprises (GSEs) – was more than twice as high as the Office of Management and Budget had accounted for. “Specifically, CBO treats the mortgages guaranteed each year by...
  • The Palin pile-on: Media loathe spotlight they themselves place upon prominent figure

    06/04/2011 1:04:06 AM PDT · by 2ndDivisionVet · 4 replies
    The Augusta Chronicle ^ | June 4, 2011 | Editorial Staff
    A book some years ago called The Dance of Anger was an exploration of dysfunctional intimate relationships. The so-called "mainstream" media ought to read it, with Sarah Palin in mind. It's comical to watch them stalk Palin and then blame her for it all. CNN's John King recently staked out the Gettysburg battlefield at night and complained that Palin wasn't there. MSNBC's Andrea Mitchell noted that a Palin appearance in a biker event proved she was "once again showing that she sure knows how to seize the political spotlight." Irony of ironies, Mitchell, of course, chose to shine that spotlight...
  • MSNBC Anchor: Palin‘s Use of American Flag Could be ’Breach of Federal Law’

    06/01/2011 9:34:10 AM PDT · by FortWorthPatriot · 68 replies
    The Blaze ^ | June 1, 2011 | Jonathon M. Seidl
    Martin Bashir, it seems, is not a fan of Sarah Palin. And during his MSNBC show and “Clear the Air” segment, he went looking for a way to roast the possible 2012 candidate who is now on a national bus tour. So what tool did he use to blast the woman even many of her detractors see as patriotic? The American flag. According to Bashir, Palin could be breaking the law by displaying the American flag on her tour bus: Here’s what he had to say: "In fact, the whole thing could be in breach of a federal law because...
  • Netanyahu says he's open to 'painful compromises' for peace (NBC lies for Obama, again)

    05/24/2011 10:05:33 AM PDT · by tobyhill · 26 replies
    MSNBC ^ | 5/24/2011 | NBC
    In an address to a joint meeting of Congress, Israel's prime minister pledged to make "painful compromises" for peace with the Palestinians, but said he would not agree to any deal that threatens Israel's security or its identity as a Jewish state. Netanyahu, who received a rapturous reception from lawmakers on both sides of the political divide, said Israel wants and needs peace but repeated his flat rejection of a return to what he called the "indefensible" borders that existed before the 1967 Mideast war. He also restated Israel's refusal to entertain the return of millions of Palestinian refugees and...
  • Fannie Mae reports $8.69 billion loss for Q1 (and wants $8.5B more in federal aid)

    05/06/2011 2:59:47 PM PDT · by library user · 59 replies
    AP ^ | May 6, 2011 | Staff
    ~ EXCERPT ~ WASHINGTON (AP) -- Mortgage buyer Fannie Mae reported a loss of $8.7 billion for the January-March quarter, and asked for an additional $8.5 billion in federal aid. The new request is more than three times the $2.6 billion in government aid it sought in the final three months of last year. The loss was caused by declining home prices around the country, Fannie Mae said. It said prices declined on average 1.8 percent, leading more homeowners to default on loans that the mortgage giant had guaranteed. The government rescued Fannie Mae and sibling company Freddie Mac in...
  • Fannie Mae & Freddie Mac: Too Big to Wind Down?

    03/17/2011 6:12:25 AM PDT · by EBH · 13 replies
    Yahoo/Finance ^ | 3/17/11
    The problem with winding down Fannie and Freddie is the GSEs buy about 70% of all mortgages originated in the U.S. and there just isn't enough capital or risk appetite in the private sector to fill the void. "You can't pull that much liquidity out of the mortgage market without crashing it," Muolo says. "If you crash it, home prices will fall by 50% and we'll be in a worse situation than we were three years ago." Given that and the political calendar, Muolo predicts there will be a lot of talk but very little action on Fannie and Freddie...
  • GE Not Exposed to Nuclear Liability in Japan (Despite known flawed design)

    03/16/2011 3:36:49 AM PDT · by tobyhill · 67 replies
    Fox News ^ | 3/16/2011 | By Matt Egan
    Thanks to a nuclear-industry practice known as channeling law, General Electric (GE: 19.59, 0.00, 0.00%) doesn’t appear to be on the hook for liabilities related to the nuclear crisis at Japanese reactors designed 40 years ago by the blue-chip conglomerate. Since the magnitude 9.0 earthquake that has paralyzed Japan, GE’s stock has slumped as much as 7.4%, in part due to worries about its legal exposure to the Fukushima Daiichi nuclear facility, which is said to be teetering near a nuclear catastrophe. However, analysts believe GE has little to worry about from a legal perspective and its bottom line may...
  • Experts Had Long Criticized Potential Weakness in Design of Stricken Reactor (Corrupt GE)

    03/15/2011 7:55:45 PM PDT · by Frantzie · 30 replies · 1+ views
    NY Slimes ^ | 3-15-2011 | Tom Zeller Jr.
    The warnings were stark and issued repeatedly as far back as 1972: If the cooling systems ever failed at a “Mark 1” nuclear reactor, the primary containment vessel surrounding the reactor would probably burst as the fuel rods inside overheated. Dangerous radiation would spew into the environment.
  • The housing menace: Fannie & Freddie must die now

    02/16/2011 2:24:05 AM PST · by lowbridge · 8 replies
    NY Post ^ | February 15, 2011 | STEPHEN B. MEISTER
    Mind you, Fannie and Freddie have cost the taxpayers $160 billion in direct subsidies since they were taken over in August 2008. The country would be better off if they shut down today. Housing finance is incredibly simple to get right: Require 20 percent down payments and make sure the borrowers have income of at least 2˝ times their monthly nut, and guess what happens? Nothing -- no defaults; no bubble. That's how housing markets work when the government stays out of them, and it's how ours worked for the half century before the feds started twisting the arms of...
  • What A Racket (Fannie/Freddie Legal Bills)

    01/24/2011 9:41:19 AM PST · by FromLori · 13 replies
    The Market Ticker ^ | 1/24/2011 | Karl Denninger
    It's common for companies to indemnify their officers and directors against lawsuits. But what happens when the company gets taken over by the government? Oh, you know.... Since the government took over Fannie Mae and Freddie Mac, taxpayers have spent more than $160 million defending the mortgage finance companies and their former top executives in civil lawsuits accusing them of fraud. The cost was a closely guarded secret until last week, when the companies and their regulator produced an accounting at the request of Congress. This would be amusing if it wasn't so outrageous. Remember, most of these allegations date...
  • John King Bashes Obama for Calling Fox 'Destructive' and MSNBC 'Invaluable'

    CNN's John King on Wednesday mocked Barack Obama for calling Fox News a "destructive" force in our society while at practically the same time a White House spokesman was saying MSNBC's Keith Olbermann and Rachel Maddow provide "an invaluable service" to the country. JOHN KING, HOST: "Sometimes you feel sad to be left out of a big debate. This is not one of those sometimes. In an interview with "Rolling Stone," President Obama voiced the opinion that Fox News is a "destructive" force in our society. On the other hand, the left hand in this case, Obama spokesman Bill Burton...
  • Gov't starts talks about new mortgage system

    08/17/2010 2:34:56 AM PDT · by markomalley · 6 replies
    AP (via PMSNBC) ^ | 8/17/2010 | Alan Zibel
    Talk of shrinking the government's involvement in the mortgage market is growing. Just don't expect action any time soon. A conference Tuesday at the Treasury Department is the first of many steps toward restructuring the nearly $11 trillion mortgage market. So far, rescuing mortgage giants Fannie Mae and Freddie Mac has cost the government more than $148 billion. That number is expected to grow. Treasury Secretary Timothy Geithner will address the conference but is not expected to offer an exit strategy Tuesday. The administration has said it won't offer its plan until next year. Officials are pledging dramatic changes to...
  • Cenk Suggests The 70% Of Americans Who Oppose Ground Zero Mosque Are 'Ignorant'

    08/16/2010 4:10:31 PM PDT · by governsleastgovernsbest · 44 replies
    NewsBusters ^ | Mark Finkelstein
    Different host, same liberal bias . . . Subbing for Ed Schultz on MSNBC this evening, Cenk Ugyur suggested that the roughly 70% of Americans who oppose the Ground Zero mosque are "ignorant." Ugyur was debating the mosque matter with Republican strategist and former Newt staffer David Winston. Winston suggested that the people behind the mosque could, in light of the overwhelming oppposition of Americans to the plan, show sensitivity by agreeing to site it elsewhere. That provoked Cenk's snide insult, which, as you'll see, actually revealed his own lack of knowledge on the subject . . . View video...
  • WH equates Ground Zero Mosque fight to how CHRISTIANS

    08/16/2010 7:34:09 AM PDT · by Marty62 · 31 replies
    msnbc/ ^ | 8/15/2010 | Chuck Todd
    see- video
  • Is Obama about to forgive billions in mortgage principal?

    08/05/2010 6:39:02 AM PDT · by Daisyjane69 · 208 replies · 1+ views
    Hot Air ^ | 8/5/10 | Ed Morrissey
  • 2500 page Financial Reform Bill fine print: SEC can refuse Freedom of Information Requests

    08/02/2010 8:01:00 PM PDT · by geraldmcg · 7 replies · 6+ views
    WebToday ^ | 8-2-10 | WebToday
    If you thought it ended with ObamaCare, think again. By “it,” we mean the irresponsible act of Congress to ramrod massive legislation through its chambers with far more regard for incestuous political praise than public service, only to find out, after the fact, that assaults on our Constitution and our individual freedoms were buried in the thousands of pages that this same Congress didn’t have time to read. Bob Beauprez (R) is a former Congressman from Colorado, now political commentator, who can only sum up what he is witnessing in the past 18 months under an Obama, Reid and Pelosi...
  • Sen. Kerry Predicts ‘Ice-Free Arctic' In '5 or 10 Years’

    07/23/2010 8:46:40 AM PDT · by Sub-Driver · 62 replies
    Sen. Kerry Predicts ‘Ice-Free Arctic' In '5 or 10 Years’ Friday, July 23, 2010 By Penny Starr, Senior Staff Writer (CNSNews.com) – Speaking at a town hall-style meeting promoting climate change legislation on Thursday, Sen. John Kerry (D-Mass.) predicted there will be “an ice-free Arctic” in five to 10 years.. “The arctic ice is disappearing faster than was predicted,” Kerry said. “And instead of waiting until 2030 or whenever it was to have an ice-free Arctic, we’re going to have one in five or 10 years.” However, the Web site of the National Oceanic and Atmospheric Administration says: “Using the...
  • Mass. Sen. Kerry docks yacht in RI, saving $500K (docking his family's new $7 million yacht there)

    07/23/2010 9:15:08 AM PDT · by NormsRevenge · 52 replies
    AP on Yahoo ^ | 7/23/10 | AP
    BOSTON – Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State. If the "Isabel" were kept at the 2008 Democratic presidential nominee's summer vacation home on Nantucket, or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes. Rhode Island repealed those taxes in 1993. That has made the state something of a nautical tax haven.
  • Taxpayer Tab for Fannie, Freddie, Other Housing Bulges by $700 Billion

    07/21/2010 10:27:25 PM PDT · by BulletBobCo · 12 replies · 1+ views
    Money News ^ | 21 Jul 2010
    Increased housing commitments swelled U.S. taxpayers' total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday. The Special Inspector General for the Troubled Asset Relief Program said the increase was due largely to the government's pledges to supply capital to Fannie Mae and Freddie Mac and to guarantee more mortgages to the support the housing market. Increased guarantees for loans backed by the Federal Housing Administration, the Government National Mortgage Association and the Veterans administration increased the government's commitments by $512.4 billion alone in the year to...
  • Thanks To Fannie And Freddie, Bailout Tab Hits $3.7 Trillion !!

    07/21/2010 8:40:36 AM PDT · by SeekAndFind · 17 replies · 2+ views
    Business Insider ^ | 07/21/2010 | Joe Weisenthal
    Remember when the bailout was going to cost $700 million? Yeah, not so much. Reuters: Increased housing commitments swelled U.S. taxpayers' total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday. The Special Inspector General for the Troubled Asset Relief Program said the increase was due largely to the government's pledges to supply capital to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) and to guarantee more mortgages to the support the housing market. Of course, Fannie and Freddie went completely untouched in financial reform.
  • Fannie Mae 153, Freddie Mac 20

    07/20/2010 7:39:22 PM PDT · by smokingfrog · 3 replies
    fortune cnn blog ^ | July 20, 2010 | unattributed
    It's a tally of Countrywide loans extended on preferential terms to workers at the government-backed mortgage companies. The count was released Tuesday by Rep. Darrell Issa, who sent a letter to Fannie (FNMA) and Freddie's (FMCC) federal regulator requesting that the loans be investigated. This is not Issa's first bite at the rotten Countrywide apple. The California Republican has been investigating the big subprime lender's efforts to cash in on the mortgage boom by pulling strings in Congress. He was behind the release of last year's "Friends of Angelo" report, which rehashed the favorable terms longtime Countrywide chief Angelo Mozilo...
  • Countrywide probe snares Fannie, Freddie execs

    07/20/2010 12:06:58 PM PDT · by Sub-Driver · 22 replies
    Countrywide probe snares Fannie, Freddie execs By: Jake Sherman July 20, 2010 02:34 PM EDT Employees at Fannie Mae and Freddie Mac — including top executives — received more than 170 cut rate loans from Countrywide Financial, according to a congressional probe, the latest accusation that the lender tried to curry influence with people in power. The investigation revealed that Fannie Mae employees — including an assistant to the CEO, a government relations lobbyist and a vice president for sales — received 153 favorable loans, while 20 VIP loans were issued to employees at Freddie Mac. Countrywide Financial collapsed in...
  • Why A Price On Carbon (Dioxide) Is Nothing More Than A Great Big New Tax

    07/13/2010 7:07:16 AM PDT · by TonyfromOz · 8 replies
    PA Pundits International ^ | 13 July 2010 | TonyfromOz
    With talk of a price on Carbon, (in reality Carbon Dioxide) just what is the scope of this, and when you see, it then becomes patently obvious that this whole so called debate is not about the environment. It’s just about the money, and just how much money is involved. At the proposed $25 per ton, and there are CO2 emissions of 3.25 billion tons just to produce the electrical power we all need to have access to, then that amount comes in at nearly $82 Billion. Electrical power emits one third of all emissions, so now the total comes...
  • MSNBC's poll that never was: overwhelming support for SB 1070

    07/09/2010 4:17:51 AM PDT · by jmaroneps37 · 28 replies
    MSNBC ^ | July 9, 2010 | unknown
    MSNBC just finished a poll asking “Do you support Arizona's tough new law on illegal immigration?” Results: of 2738,770 votes 95.9% YES! 95.9% Yes! 2,626,424 voters said YES! 4.1% said No 112,346 votes Of course this was smothered by the enemy's media, but here it is.
  • Cap-and-Trade is a Nation Killer

    07/07/2010 6:25:37 AM PDT · by IbJensen · 10 replies
    Canada Free Press ^ | 7/7/2010 | Alan Caruba
    There are many reasons why the Cap-and-Trade Act will harm the future of the nation, but among the worst is that it is entirely based on a lie. The very worst, however, is that it is a nation killer. Cap-and-Trade is intended to set up a trade scheme in “carbon credits” that is estimated to be worth a trillion dollars if enacted. The rationale is the need to reduce greenhouse gas emissions, primarily carbon dioxide (CO2), to avoid global warming. There is no global warming and no need to reduce carbon dioxide emissions The vast bulk of CO2 is natural....