Uppity Woman writes today over at her place:
I hope you haven’t just eaten, because what you are about to read will disturb you–and well it should. It’s proof that John McCain foresaw the Freddie Mac, Fannie Mae disaster in 2006 — and tried against all Obama-Like minds to ward it off.
Below are John McCain’s remarks urging the passage of the Federal Housing Enterprise Regulatory Reform Act of 2005 , which he co-sponsored and which was rendered “Dead” in Congress.
Guess who prevailed... Read Full Story
In what could prove to be the biggest federal bailout in U.S. history, the federal government will take control of mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) - the U.S. government’s latest attempt to blunt a credit crisis that has spawned more than $500 billion in losses since it began.
U.S. Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart held a joint press conference yesterday (Sunday) to unveil and detail the plan to place the two... Read Full Story
Jesse Jackson has long been in the business of extortion to collect money for his pet company “Rainbow/PUSH Coalition”. His normal mode of operation is to threaten companies with organized boycotts against the company’s products/services until the company makes a substantial “contribution” to Rainbow/PUSH.
This is extortion, and I believe Jesse Jackson is a criminal. He has single handedly done more to hurt race relations in this country than any other person.
But today’s news is not... Read Full Story
A new congressional report was just released and in what should come as a surprise to no-one, the government was found to be at fault for the current mortgage crisis. Freddie Mac and Frannie Mae encouraged people who could not afford to buy homes to buy them anyway. This was done to be “fair” instead of only giving money to those that could afford it.
In the short run, this government intervention was successful in its stated goal – raising the national home ownership rate,” says the... Read Full Story
Below is an editorial that appeared in the New Hampshire Union Leader that talks about Barney Frank and Chuck Schumer and their roles in the failure of Fannie Mae and Freddie Mac. Here is the editorial in it’s entirely: One month from tomorrow, U.S. Rep. Barney Frank, D-Mass., will be the keynote speaker at the New Hampshire Democratic Party’s annual Jefferson-Jackson dinner. It is a coveted and high-profile role previously filled by such notables as Hillary Clinton and Al Gore. The... Read Full Story
It seems we consumers are not the only ones who think the credit bureaus are unfair and give little to no care for how their actions affect the little guy -which is usually us. But not in this case. Seems they are bullying their smaller competitors and trying to monopolize the mortgage credit reporting market to enhance their billions in profits. And now their competitors have had enough and are willing to take this Goliath to court.
According to the Maryland Daily Record ; The... Read Full Story
There aren’t many issues as polarizing in today’s society as politics. Those who have chosen it as a career are usually loved or loathed, and rarely do they care either way. One of our most celebrated politicians, Thomas Jefferson, once said:
Be a listener only, keep within yourself, and endeavor to establish with yourself the habit of silence, especially in politics.
If only this ideal were followed today. In actuality, the majority of politicians today endeavor to constantly and... Read Full Story
I've heard everyone blaming George W. Bush for the economic mess we are in now. I've heard the Democrats/Liberals/Traitors, namely Barack Obama and others of his ilk, blaming President Bush for everything that's gone wrong including the zits on their faces. So I started doing a little digging, as every thinking American should do and found the following: This whole blooming mess was started by James Arthur Carter, otherwise known as our completely useless former president, Jimmy Carter. Even... Read Full Story
FBI is combing through documents and e-mails related to the collapse of AIG, Fannie Mae, Freddie Mac and Lehman Brothers looking for wrongdoing that may have contributed to the credit crisis. Some 500 prosecutions are under way against mortgage brokers and appraisers at the sharp end of the subprime scandal. The top US regulator, the Securities and Exchange Commission (SEC), has ordered more than two dozen hedge funds to hand over trading information as it seeks evidence that short-sellers... Read Full Story
