Congress defends FM&FMac illegal book keeping

[Garcia Bronco]

http://amyproctor.squarespace.com/blog/2008/9/28/2004-footage-shows-democrats-defending-fanniefreddie-illegal.html

Footage of Congress defending these government sponsered programs is in the link.

[Garcia Bronco]

2004 Footage Shows Democrats Defending Fannie/Freddie Illegal Book Keeping While Republicans Call for Oversight
Sunday, September 28, 2008 at 05:59AM
Thanks to Naked Emperor News, this incredibly incriminating footage on C-Span from 2004 shows a Congressional hearing on oversight of Fannie Mae and Freddie Mac, investigating illegal book keeping of the government backed banking companies.

You’ll notice Democrats like Barney Frank, Maxine Waters, Gregory Meeks and Artur Davis saying Fannie Mae and Freddie Mac were doing just fine, didn’t need to be investigated and beating up on regulators trying to keep Fannie and Freddie honest.

Meanwhile, Republicans like Richard Baker, Ed Royce, Christopher Shays and Don Manzullo predict trouble ahead at Frannie and Freddie, call for more oversight and condemn the incredible profits of the CEOs of these government sponsored financial companies.






A couple weeks ago, I wrote that Barack Obama ranks #2 on the list of Senators receiving funds from Fannie Mae and Freddie Mac lobbyists and campaign contributions. The contributions span 20 years, yet in Obama’s 4 short years in the Senate he has received more contributions than any other Senator but Democrat Christopher Dodd, who has been in the Senate for several decades.

The lobbyist money and political contributions from Fannie and Freddie were an effort to dissuade the federal government via these Senators from looking too closely into their corrupt financial practices.

Now, WHO’S FAULT IS IT THAT WE’RE IN THIS ECONOMIC CRISIS?????

(Hat Tip: Ms. Underestimated)

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Response: $700 Billion Democrats
by Gawfer at Gawfer on September 29, 2008 Reader Comments (7)
And Dingy Harry had the temerity to stand in front of God and everybody and say "the Republicans caused this" while slobbering on about bipartisanship.

Anytime the government tries to 'help' people , look out. Fannie May and Freddy Mac = cheap, easy credit for people to buy homes they can't afford to make the mortgage payments on.

Democrats are caught red-handed on this one. Great catch, Amy, here's to hoping this makes the MSM, at least FOX. Bteer yet, let the blogosphere take the lead on this story.

[Rohirrim]

You know, all this may be true. Probably is. But so what? What do we do about it? Elect McCain? Look at who surrounds him. In this age of partisan venom we want to blame it all on the other guys. The truth is, the whole system is rotten to the core. They are ALL guilty. They are all in it up to their elbows. Short of revolution, what do we do about it?

[kappys]

You know, all this may be true. Probably is. But so what? What do we do about it? Elect McCain? Look at who surrounds him. In this age of partisan venom we want to blame it all on the other guys. The truth is, the whole system is rotten to the core. They are ALL guilty. They are all in it up to their elbows. Short of revolution, what do we do about it?

Revolt!!! Elect independants and 3rd parties! Refuse to vote for any congressman who votes for this crooked a bill and sent them an E-mail that lets them know it

[Garcia Bronco]

I agree Roh, that the point. All these people in both parties are to blame and they always have been,

[L.A. BRONCOS FAN]

FM&FM went from mandatory oversight to voluntary oversight under Bush in 2002.

(Consistent with Bush's policy of allowing private industry to police itself and putting foxes in charge of hen houses.)

The U.S. banking system was turned into a big casino (one that was heavily rigged in favor of the house) on Bush's watch.

Which rethugs in Congress opposed this policy over the last eight years?

[epicSocialism4tw]

Barney Frank and Chris Dodd should be run out of congress on a rail and publicly lambasted...then thrown in prison.

[epicSocialism4tw]

You know, all this may be true. Probably is. But so what? What do we do about it? Elect McCain? Look at who surrounds him. In this age of partisan venom we want to blame it all on the other guys. The truth is, the whole system is rotten to the core. They are ALL guilty. They are all in it up to their elbows. Short of revolution, what do we do about it?

To be honest, I fear McCain much less than I do Obama. Obama has proven to be very naive. Not to mention the fact that idiots like Dodd and Frank need to be checked at the partisan window, and we wont have a balance in place at all with an extremist liberal president.

You are right about the rot in the system. The shelf life of this concoction is long expired and its disease is now taking the constitution to the grave with it.

If the bottom drops out of the economy, there should not be another single excuse as to why we need to wait another minute to take the country back.

[BABronco]

You know, all this may be true. Probably is. But so what? What do we do about it? Elect McCain? Look at who surrounds him. In this age of partisan venom we want to blame it all on the other guys. The truth is, the whole system is rotten to the core. They are ALL guilty. They are all in it up to their elbows. Short of revolution, what do we do about it?

How did this happen? Who's to blame? Well, certainly there are those who are more responsible than others, and they will be held accountable. But again, truth be told, if you're looking for the guilty, you need only look into a mirror.

[kappys]

Barney Frank and Chris Dodd should be run out of congress on a rail and publicly lambasted...then thrown in prison.

Whatever happened to a good old tar and feathering?

[epicSocialism4tw]

Whatever happened to a good old tar and feathering?

Maybe we can get that going after the tea party.

[watermock]

This is what I've been screaming for a week now. It's all comming out.

This "morgage reform let people, increasing minorities specifically, get loans that were beyond their ability. That's more than criminal. It's cruel.

[watermock]

<embed src="http://blip.tv/play/nGnP6E6Ioik" type="application/x-shockwave-flash" width="525" height="340" allowscriptaccess="always" allowfullscreen="true"></embed>

[Rohirrim]

<embed src="http://blip.tv/play/nGnP6E6Ioik" type="application/x-shockwave-flash" width="525" height="340" allowscriptaccess="always" allowfullscreen="true"></embed>

Boy, that video sure does paint this whole thing as a "black/white" issue, if you get my drift. :pity:

[watermock]

Well, dont ya know cspan is.......

[defenseman]

You know, all this may be true. Probably is. But so what? What do we do about it? Elect McCain? Look at who surrounds him. In this age of partisan venom we want to blame it all on the other guys. The truth is, the whole system is rotten to the core. They are ALL guilty. They are all in it up to their elbows. Short of revolution, what do we do about it?

Obama is up to his eyeballs in this. McCain....limited exposure..dman

[Rohirrim]

Obama is up to his eyeballs in this. McCain....limited exposure..dman

Gramm, his chief economic advisor, wasn't up to his eyeballs in this? Or Davis, his campaign manager? You're wearing partisan blinders, chum.

[defenseman]

Gramm, his chief economic advisor, wasn't up to his eyeballs in this? Or Davis, his campaign manager? You're wearing partisan blinders, chum.

Hang them all. ALL OF THEM, right now.............keel hauling is too good for them. Slow painful and excrutiating pain is what each deserves. This was entirely avoidable....entirely....damn the average american, as long as their pockets are full of cash....hang them all.....dman

[defenseman]

This is what I've been screaming for a week now. It's all comming out.

This "morgage reform let people, increasing minorities specifically, get loans that were beyond their ability. That's more than criminal. It's cruel.

And the folks that got the loan are too stupid to know they were sold down the river to make a buck....in any case.....they deserve NO GOOD DEALS EITHER. Too stupid....you pay the price...simple as that...dman

[L.A. BRONCOS FAN]

And the folks that got the loan are too stupid to know they were sold down the river to make a buck....in any case.....they deserve NO GOOD DEALS EITHER. Too stupid....you pay the price...simple as that...dman

The irresponsible and/or crooked casino capitalists and predatory lenders on Wall Street are no more deserving of a bail-out than those Americans on Main Street who have been trying to live beyond their means.

Those of us who have worked hard, played by the rules, and who have not tried to get something for nothing from the system should not have to pay these jackasses' markers, IMO.