The fundamentals of Fannie and Freddie are strong?

At least that's how the Democrats saw it. Don't take my word for it, see for yourselves.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Youtube thumbnail

Listen to Maxine Waters come to the defense of Franklin Raynes, the man who ran Freddie into an iceberg and then jumped ship to be an Economic Advisor for Obama. But not before he looted millions (and put Obama at #2 in the ALL-TIME donor list from Freddie. In his short tenure, the honorable Sen. Obama ranks behind only 20+ year Washington veteran Chris Dodd on the Freddie Mac gravy train.

And you people defend him?

I guess, thanks to you, we're going to get the government we deserve.

Update:

Weasel McWeasel:

40% of Democrats voted against the bill. Evidently, being a 'top contributor' doesn't require any basis in fact or reality.

Try again.

4 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    I know, ain't life a beach? The democrats are bunch of lame ducks, once again!

    http://www.justsaynodeal.com/acorn.html

    Virtually no

    attention has been

    paid to the amount

    of taxpayer

    dollars that

    funds ACORN

    Housing Corporation

    or A H C - which

    helped unqualified

    poor people get

    NINJA mortgages

    stalwart defender of

    Fannie Mae, the

    congressman dated

    exec Herb Moses, who

    developed FM's

    affordable housing &

    home-improvement

    lending programs for

    the past 7 years--a

    clear conflict of

    interest and potential

    impropriety.

    In 2005,

    formed

    Democracy

    Alliance,

    donating

    $100 million

    to groups,

    including

    ACORN.

    Provided the

    $20 million

    seed capital

    for left-wing

    advocacy

    group,

    MoveOn

    deeply embedded

    in wall street firms,

    the senator and

    house banking

    chair is the single

    largest recipient

    of money from

    Freddy Mac &

    Fannie Mae - now

    overseeing the

    bailout and the

    very crisis he has

    enabled

    the 2nd largest recipient of Freddy & Fannie cash,

    the former ACORN attorney blames "reckless

    deregulation and lack of oversight" for the current

    financial meltdown, However, government

    policies - formulated and promoted by community

    organizations - like those linked to Obama - along

    with members of his campaign- are the root cause.

    By trafficking bad paper, they collectively

    collapsed the credit markets in one fell

    swoop and may well be the catalyst for

    another American Depression. Continuous

    attempts by republicans were made (2002 -

    2005) to overhaul the two mortgage

    giants,, only to be blocked by scores of

    Dems led by Barney Frank. Bill Clinton

    tried to reign in Freddy & Fannie in 1998,

    but ultimately succumbed to party pressure.

    reportedly one of

    the democrats to

    block the $700

    Billion Bailout by

    demanding 20%

    kickback to

    ACORN. Helped

    collapse IndyMac

    - one of the

    largest bank

    failures in US

    history.

    peddled

    sub-prime

    loans to

    millions of

    unqualified

    applicants,

    enabling a

    massive

    systemic

    abuse by Wall

    Street Bank

    execs,

    politicians,

    lobbyists and

    low-income

    Americans

    Founded in the 70's,

    this training arm of

    ACORN mobilizes

    activists to manipulate

    public opinion through

    "direct action" and

    illegal activities.

    Obama's extensive work

    with ACORN & Midwest

    Academy dates back to

    1992 and ranges from

    training and

    fundraising, to legal

    representation and voter

    mobilization (Project

    Vote).

    ACORN has

    reportedly

    received

    payments of

    nearly a million

    dollars from the

    Barack Obama

    Campaign in

    2008 -- payments

    were funneled

    through a front

    company called

    "Citizens Services

    Inc." and may

    have been falsely

    reported to the

    FEC.

    Former top Obama advisor &

    veep vetter resigned in disgrace

    for involvement in Countrywide

    Scandal. As former Fannie Mae

    CEO he pulled in $21 million in

    just his last year alone.

    Established Fannie Mae

    Foundation - sweet little setup for

    handing out millions to ACORN.

    Launched Obama's

    political career from

    his home, appointed

    him Chair of the

    Chicago Annenberg

    Challenge and served

    with him on Board of

    Woods Fund. Obama

    calls the Weathermen

    founder and domestic

    terrorist "respectable"

    and "mainstream" and

    claims he's "just

    another guy in the

    neighborhood."

    ACORN receives grants from

    the Chicago-based Woods

    Fund. Ayres and Obama

    served together on the Fund’s

    Board. Other grantees during

    their tenure included former

    PLO spokesman Rashid

    Khalidi and the Obamas'

    church, Trinity United.

    according to a

    whistleblower, the

    sub-prime financial

    engineering that

    created the wall

    street meltdown was

    developed by

    Obama's finance

    chair & Ernst and

    Young, working with

    Merrill Lynch to sell

    bonds securitized by

    what are now

    useless mortgages.

    Taking 90 million out of the

    system in 5 years, he illegally

    coerced employees to falsify

    accounting facts so he'd get

    maximum bonus. Fannie used

    Enron-esque fraud, at Raines'

    orders, to create the largest

    bail-out in US history. Called

    Obama a member of the

    "family" and thanked him for

    pressuring him to make

    unsound loans.

    NOTE: This is a snapshot view

    and remains a work in progress --

    does not represent the full scope

    of Obama's links to ACORN and

    the current financial meltdown.

    CLICK THE BIG ACORN for

    in-depth research or click the

    PUMA to enter site :

    okay, 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.

    The now bankrupt high-flying loan originator in the

    sub-prime mortgage debacle funneled millions to gain

    favor with Congress, Freddie & Fannie in the form of

    sweetheart deals for Raines, Dodd & Johnson, among

    others.

    Teaches Obama

    supporters "organizing

    principles" by

    adopting stunningly

    similar tactics of

    intimidation and

    confrontation taught

    at the Midwest

    Academy and akin to

    activities reported in

    the blogosphere, the

    caucuses and on the

    campaign trail.

    • Login to reply the answers
  • 1 decade ago

    A good start to the answer of why we finally believe that certain people don't belong in Washington, and McCain does.

    • Login to reply the answers
  • Anonymous
    1 decade ago

    How about you ask Barry Soetoro, seeing that he benefited from Fannie Mae, Barney Frank is another SOB that need to be booted, WAKE the MUCK UP AMERICA, the DEMONCRATS are driving us into the pits of HELL.

    • Login to reply the answers
  • Anonymous
    1 decade ago

    Yeah, well, that's what McCain keeps saying..............the economy is fineeeeeeeeeeeeeeeee.

    and Republicans just shot down the bailout plan.....so I guess they all think the economy is fine too.

    • Login to reply the answers
Still have questions? Get your answers by asking now.