say...anybody know where all that money is going?
Fannie and Freddie need to be removed from the Federal budget.
This alone should get all of these Dems fired shortly.
Not until there is a FULL AUDIT.
And they get off the Gov. tit.
http://www.washingtonpost.com/wp-dyn/content/article/2009/12/24/AR2009122401588.html
Related posts
Fannie, Freddie bailout could double, regulator says
http://www.freerepublic.com/focus/f-news/2611756/posts
Regulator for Fannie Set to Get Litigious
http://www.freerepublic.com/focus/f-news/2611743/posts
http://www.freerepublic.com/focus/f-news/2608592/posts
VIDEO OF ANDREW CUOMO STARTING THE HOUSING MELT DOWN!
Hot Air ^ | 10/12/2008 | HotAir
CUOMO: To take a greater risk on these mortgages, yes. To give families mortgages that they would not have given otherwise, yes. Q: [unintellible] that they would not have given the loans at all? CUOMO: They would not have qualified but for this affirmative action on the part of the bank, yes. Q: Are minorities represented in that low and moderate income group? CUOMO: It is by income, and is it also by minorities? Yes. CUOMO: With the 2.1 billion, lending that amount in mortgages which will be a higher risk, and Im sure there will be a higher default rate on those mortgages than on the rest of the portfolio
And to think that on top of this they mortgages they hold may be worthless for any number of reasons. The latest being that they may not hold the notes to many of them. The taxpayer is paying for an empty box.
Fannie And Freddie HAVE NO NOTES EITHER?
http://market-ticker.org/akcs-www?post=169840
FHFA: Foreclosuregate And Scams: It’s (Maybe) 1/2 Over
http://market-ticker.org/akcs-www?post=169867
Sure, why not.
I only need 1 billion so pay me first.
And first thing they’ll do is give MILLIONS to liberal Democrat Politicians who support them.
Pay your taxes America - the ruling class needs the money. :)
Bwahney’s legacy.
From Wikipedia, found at http://en.wikipedia.org/wiki/Andrew_Cuomo - Early life, education and career Andrew Cuomo was born in Queens, New York, the elder son of Mario Cuomo, the first Italian American to be elected Governor of New York and his Sephardic Jewish wife Matilda Raffa, daughter of Charlie Raffa (See Jewish Genealogy in Sicily at http://www.italian-family-history.com/jewish/_Sicilia.html). He is the older brother of ABC News journalist Chris Cuomo.
During the administration of former New York City Mayor David Dinkins, Cuomo served as Chairman of the New York City Homeless Commission, which was charged with developing policies to address the homeless issue in the city and to develop more housing options.
Cuomo, as HUD Secretary holding a press conference with then Treasury Secretary Larry SummersAndrew Cuomo was appointed to the Department of Housing and Urban Development as Assistant Secretary in 1993, as a member of President Bill Clinton’s administration. After the departure of Secretary Henry Cisneros at the end of Clinton’s first term under the cloud of an FBI investigation, Cuomo succeeded him as HUD Secretary in January 1997 after being unanimously confirmed by the Senate, serving until 2001 when Clinton’s administration ended. In 1998, Cuomo’s lauded work in the department garnered speculation that he could challenge Senator Al D’Amato but he ultimately declined, saying that he had more things to revamp in the Department. Instead, Congressman Charles Schumer won the Democratic nomination and ultimately defeated D’Amato. Cuomo was also mentioned as a candidate for U.S. Senator in 2000 but deferred to First Lady Hillary Rodham Clinton.
During Cuomo’s tenure as HUD Secretary, he called for an increase in home ownership.[4] He also pushed government-sponsored lenders Fannie Mae and Freddie Mac to buy more home loans issued to poor homeowners, in an attempt to end discrimination against minorities.[5] Some believe that this helped lead to the current subprime mortgage crisis.[4][5][6] Edward J. Pinto, former chief credit officer at Fannie Mae, said “they should have known the risks were large. Cuomo was pushing mortgage bankers to make loans and basically saying you have to offer a loan to everybody.”[4] But others disagree with the assesment that Cuomo caused the crisis. Dean Baker, co-director of the Center for Economic and Policy Research, said Cuomo “was a contributor in terms of him being a cheerleader, but I don’t think we can pin too much blame on him.”[4]
In other words, apparently this man Andrew Cuomo caused the entire financial crisis/great depression this country is facing now.