Fannie Mae "Hearts" Obama

[guido911]

http://www.youtube.com/watch?v=usvG-s_Ssb0

[Conan71]

I'll be damned.  He's really losing credibility with me.  I might have to vote for McCain now.

[Gaspar]

I find it so interesting how the Democrats for years have held Fanny and Freddy up on pedestals as shining examples of how responsible government regulation can work to create something from nothing.

Fanny and Freddy have given millions to them in exchange for their favor.

But today Pelosi, Dodd, and Obama don't want to own them any more.

You guys and your predecessors fed this puppy, raised it into a dog, let it follow you around, and now you want to have it put to sleep.

Meanwhile we have the poor, ill-informed, uneducated, and somewhat intellectually disabled, extoll blame on all but those who deserve it.

Fannie and Freddie have been instrements of the congressional Democrats (since the 30s) designed to make mortgages available to more people and, as it turns out, some people who couldn't afford them.

John Gibson:
Fannie and Freddie have also been places for big Washington Democrats to go to work in the semi-private sector and pocket millions. The Clinton administration's White House Budget Director Franklin Raines ran Fannie and collected $50 million. Jamie Gorelick — Clinton Justice Department official — worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job.

Now remember: Obama's ads and stump speeches attack McCain and Republican policies for the current financial turmoil. It is demonstrably not Republican policy and worse, it appears the man attacking McCain — Sen. Obama — was at the head of the line when the piggies lined up at the Fannie and Freddie trough for campaign bucks.

Sen. Barack Obama: No. 2 on the Fannie/Freddie list of favored politicians after just four short years in the Senate.

So I think we should go after who's in charge (of Fanny and Freddy).  And we know who they are.

[Gaspar]

Looks like this is the last nail in this congressional coffin.  They are going to walk again.

Democratic Congress May Adjourn, Leave Crisis to Fed, Treasury
By Kristin Jensen,

Sept. 18 (Bloomberg) -- The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.

Lawmakers say they are unlikely to take action before, or to delay, their planned adjournments -- Sept. 26 for the House of Representatives, a week later for the Senate. While they haven't ruled out returning after the Nov. 4 elections, they would rather wait until next year unless Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke, who are leading efforts to contain the crisis, call for help.

One reason, Senate Majority Leader Harry Reid said yesterday, is that ``no one knows what to do'' at the moment.

``When you rush to judgment, you usually make mistakes,'' said Sherwood Boehlert, a former Republican congressman from New York. ``This is something you can't go on forever without addressing, but Congress in a short span of time is best served by going home.''

In 2002, after accounting scandals forced Enron Corp. and WorldCom Inc. into bankruptcy, Congress passed the Sarbanes-Oxley law, setting new corporate-governance rules. While the measure passed unanimously in the Senate and overwhelmingly in the House, it has since become a target of criticism from some Republicans, including presidential candidate John McCain, and from many in the business and financial worlds.

``There's a huge danger that needs to be guarded against -- that we'll have a tremendous overreaction in regulations,'' former Treasury Secretary John Snow said in an interview.

Reid's `Despair'

Still, the Democrats opened themselves up for attack with Reid's comments. The Republican National Committee pounced on the Nevada lawmaker for his ``despair,'' and Senator Mel Martinez, a Florida Republican, said his remarks are ``not a way to inspire confidence or begin to turn the tide.''

And there were some calls for at least a bipartisan show of leadership during the crisis, which has resulted in the collapse of mortgage giants Fannie Mae and Freddie Mac, investment banks Lehman Brothers Holdings Inc. and Bear Stearns Cos., and insurer American International Group Inc., among other companies.

Unless party leaders on both sides of the aisle join with President George W. Bush to endorse a solution, there's little Congress and the president can do in the near term to restore market confidence, said Chuck Gabriel, managing director of Capital Alpha Partners LLC, which advises investors on politics and Washington.

White House Lawn

Wall Street would respond positively ``if the president and Treasury Secretary Paulson and a couple of Cabinet members and the Republican and Democratic leadership all went on the White House lawn and said that we are resolved to taking additional measures in the coming weeks despite the elections to ensure that confidence is restored,'' Gabriel said.

``But the odds of that seem very, very low.''

Some committee chairmen have scheduled hearings and promised better oversight.

Representative Henry Waxman, chairman of the House Oversight and Government Reform Committee, will hold two days of hearings on Oct. 6 and 7 ``to examine what went wrong and who should be held to account'' at AIG and Lehman Brothers, which filed for bankruptcy on Sept. 15.

Waxman's committee summoned Lehman Chief Executive Officer Richard Fuld, AIG CEO Robert Willumstad and former AIG chiefs Maurice ``Hank'' Greenberg and Martin Sullivan to speak.

`Work Will Continue'

House Speaker Nancy Pelosi defended the decision of Congress to adjourn. Lawmakers can always be recalled to Washington ``if there is a need to do so,'' she told reporters yesterday. In the meantime, House and Senate committees will hold hearings and the financial crisis will be studied by Congress, she said. ``Our work will continue even if we are not still on the floor,'' she said.

House Financial Services Committee Chairman Barney Frank said Congress could give the Federal Reserve authority to pay interest on bank reserves sooner than originally scheduled.

``They already have the authority; it's just a question of moving it up a couple of years,'' Frank, of Massachusetts, told reporters yesterday. ``We're trying to work that out.''

Senate Banking Committee Chairman Christopher Dodd said the Fed also has the power to buy and dispose of bad debt stemming from the subprime-mortgage crisis.

``The Fed has the authority to move in this area,'' Dodd told reporters in Washington.

No `Quick Fixes'

Creating a separate agency to take on bad debt, akin to the Resolution Trust Corp. set up in 1989 to absorb losses from savings-and-loan associations, would take about a year, he said. Instead, the Fed should use its own authority to act.

Senator Johnny Isakson, a Georgia Republican active on housing issues, scoffed at suggestions that lawmakers postpone adjournment to rewrite laws governing the financial markets.

``The last thing you need,'' he said, ``are 535 people, not many of whom are that well-versed in financial markets, trying to do quick fixes to a market correction that's one of the more significant that we've ever seen.''

[Conan71]

There needs to be bi-partisan solutions to this crisis instead of this being used as a political issue by either party.  I agree, Bush and Democrat leaders need to put their heads together and try to work on a unified front instead of being concerned about consolidating power on Nov. 4th.

Harry Reid needs to understand once again that inaction is not an action.

[Gaspar]

I don't really care who's in power in congress.  The actions of this congress are what you find on a kindergarten playground.  It needs to stop.  Put a new Democrat leader or a new Republican leader or whoever in charge, but someone needs to take control.  This is a disaster.

I would even be happy if Reed stepped up and took leadership at this point.

[FOTD]

Well, looks like we are near the bottom.....short selling has been tamed!

We'll give some credit to Paulson. A Bush appointee finally does something!

Won't help the stupid old lame angry white guy much at this point. But will help Obamamon!

[iplaw]

The real question is, how will it help the big-eared lanky marxist black teleprompter reader?

See, I can be a rude and uncouth as you dingus.  It takes no effort whatsoever.

Maybe next time you could post something worth reading?

[FOTD]

quote:Originally posted by iplaw

The real question is, how will it help the big-eared lanky marxist black teleprompter reader?

See, I can be a rude and uncouth as you dingus.  It takes no effort whatsoever.

Maybe next time you could post something worth reading?

If this devil is "Dingus", then you are Dingleberry!

We all know you are voting for the angry white guy (look alike) over the smart black guy.

"Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats."
-- Henry Louis Mencken

Problem Ipsqueak is you have no throat to slit. Your heads so far up your arse it's impossible to slit yours.

[guido911]

quote:Originally posted by iplaw

The real question is, how will it help the big-eared lanky marxist black teleprompter reader?

See, I can be a rude and uncouth as you dingus.  It takes no effort whatsoever.

Maybe next time you could post something worth reading?

Are you a glutton or something? Why in the hell do you engage aox?

[FOTD]

quote:Originally posted by guido911

quote:Originally posted by iplaw

The real question is, how will it help the big-eared lanky marxist black teleprompter reader?

See, I can be a rude and uncouth as you dingus.  It takes no effort whatsoever.

Maybe next time you could post something worth reading?

Are you a glutton or something? Why in the hell do you engage aox?

The bait lured Tweedle Dum in, Tweedle Dee (aka Ipsqueak aka Dingleberry).


Sent from my BlackBerry -
another miracle from the mind of John McCain!

[Conan71]

quote:Originally posted by FOTD

Well, looks like we are near the bottom.....short selling has been tamed!

We'll give some credit to Paulson. A Bush appointee finally does something!

Won't help the stupid old lame angry white guy much at this point. But will help Obamamon!

Now it's the cripple thing.  Bigot.

[FOTD]

He has lame abilities....there better??? Wafler!


"If evil be said of thee, and if it be true, correct thyself; if it be a lie, laugh at it. Epictetus "