Obama Hearts Fannie Mae

The Audacity of Barack Obama!!! This was on Fox News, surely the MSM will pick it up??!!!

Yeah like they picked up everything else. Dont’ hold your breath.

McCain in May, 2006: “I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.”

Obama voted against the legislation.

I like Biden…too bad he sided with BO.

I like Biden…too bad he sided with BO.

The McCain people out to make an ad out of that.

Fannie and Freddie were giving African Americans a chance at the housing boom, in which they were disproportionately left behind. Now after 8 years of McBush failed economic policies and mismanagement, African Americans are once again made to carry the burden in disproportionate numbers. No more McBush policies for another 4 years.

Excellent post Susan! The video is very damaging, it needs more traction in the MSM…yeah right! Like that will ever happen! However we now have a good explanation why we still have not hit bottom in the housing crisis….it is time for all involved including Congress to admit their complicity in the housing crisis! But I know I am asking too much!

Correction: The bill passed the House but was never brought up for a vote in the Senate, largely because of Democratic opposition to change in the Fannie Mae and Freddie Mac regulatory structure.

Freedom fighter, you lame excuses for obama, are no more impressive than the lame excuses made for bush. Grasp the truth, BUSH AND OBAMA hang out with people who care more about themselves, and money than they do about other people. Obama and Bush have more in common than bush and mccain ever will. And that is why I didn’t vote for bush and i won’t vote for obama. Making sure we have a future trumps making history. One day you will understand that. Giving loans to anyone who can’ afford to pay for it, is just putting that person in dept and puts a strain on tax payers all the while they are making money.

Also pick up a copy of the book Shock Doctorine. In it the author gives a description of one of the hospitals that bush’s contractor friends was supposed to have built in iraq, and then compare it to Tony Rezko’s low income housing. Not only is it disturbingly similar, it gives you a little sneak peak of what to expect should you elect obama.

Didn’t greenspan warn us this was going to happen? I think i remember they asked about this at one of the democratic debates. And greenspan had said they would only be prolonging the inevitable

No Quarter:

Can you believe that the MSM is not really reporting this? Why? Because it doesn’t help Obama? This is very serious. No one is really paying attention to this. It’s like it’s a weird national hush hush campaign in the media.

9/19/08
Russia ratchets up US tensions with arms sales to Iran and Venezuela

http://www.timesonline.co.uk/tol/news/w … 781027.ece

9/8/08
Russia ships to join Venezuela naval exercises in Caribbean
http://www.latimes.com/news/nationworld … 0282.story

New McCain Ad: Obama Chavez:
http://www.youtube.com/watch?v=AHQwsxHiaY0

Ugh! Here are the links again:

http://www.timesonline.co.uk/tol/news/world/europe/article4781027.ece

http://www.latimes.com/news/nationworld/world/la-fg-chavez8-2008sep08,0,7210282.story

that’s because they know people don’t trust obama, on foreign policy. Trust me if people know russia was about to start playing in our back yard, and selling weapons to people who don’t like us. McCain would win the election by a land slide.

40 years of preferential treatment and what is there to show for it?

Black people in power behaving worse than those before them?

Pathetic.

Just say no to reparations.

Vote McCain/Palin

Don’t go there, I’ve seen the ugly coming from just as many white democracts as black acting like fools. And this has nothing to do with perferential treatment. IT has to do with black people assimulating the behavior of the people around them and picking up on some of the worst behavior instead of staying above the bs. My proble with obama isn’ that he’s black, it’s that he acts too much like bush.

Until you start being responsible for your actions, you will keep having others make decision for you. You have no understanding of your fellow broters did to the AA.

When you take a loan you cannot afford, it is irresponsible, what do you do? You play your normal line. Be an American once and stop the blame game.

The truth is that Fannie and Freddie were giving African Americans a loan that they cannot afford, likewise other Americans and other minority. It is not just the African American.

And Sen. John S. MacCain said this on the senate floor………McCain in May, 2006: “I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.”

Obama voted against the legislation. Now Obama is saying what? Let me help you he now lying to the Americans and you cannot see it. If you love your country then open your eyes, think!!!!

I know you will find a way to defend him. The record is there. There are more…..

your ignorance of the mortgage crisis is only matched by your blind reverence for the Omessiah.

Please go get yourself some education.

That’s because most AA’s see Obama as family.

I do not. His mother is white his father was Kenyan. Obama’s history is not my history. Therefor I feel no need to cover up for his differences. Other blacks don’t see it that way. Above and beyond that, regardless of how blacks and whites fell about each other, the fact is we rise and we fall together and the president is the person who steers the ship. That means I pick the person that’s most qualified for the job, and i can’t base that on anything but who can do the job. And no matter how much i might want to see a black person in that job, I can not choose a person whose history shows me they will run this county aground. Obama has to many of bush’s bad habits. He tells stupid lies, he has a bloated war chest, he has very little if any executive experience, to many of his friends have ran large companies into the ground, he has a history of taking care of his friends more than his constituents, he’s arrogant, has a poor concept of foreign policy even if he is more accommodating, and he’s willing to put our troops in danger to help himself politically.. His outward appearance, and his party do not change these facts. Bush was a warning i think obama is the real thing, if people choose him, he will gut our economy and sink our country, and no matter how anyone feels about ethnicity, we are all in this together, so make wise decisions about who you put at the helm of USS America. I’ve lived throught two moderate republican presidents, it wasn’t fun, but i’m alive. I can tolerate McCain. But i will not abide George III.

Former Fannie Mae chairman and chief executive Franklin D. Raines agreed to a multimillion settlement with federal regulator, the Office of Federal Housing Enterprise Oversight, over his responsibility for improper accounting at the mortgage finance giant.

In court papers, the agency said Mr Raines was unjustly enriched. “OFHEO’s mission is to ensure that the Enterprises operate in a safe and sound manner,” OFHEO Director James B. Lockhart said in a statement. “That cannot occur without corporate management providing prudent and responsible leadership and setting the appropriate ethical and overall ‘tone at the top.’ ”
http://voices.washingtonpost.com/washbizblog/2008/04/regulator_to_dismiss_charges_a.html

Raines failures at Fannie Mae earned him the not so coveted “Worst Manager of the Year” award from Business Week on January 10th, 2005. http://www.businessweek.com/magazine/content/05_02/b3915646.htm

Obama’s team will never be known as “The Best and the Brightest”.

This was posted eleswhere, but must always be repeated. A non-conservative undecided economics professor analyzed both candidates for The Atlantic and decided for McCAIN.

His conclusion? OBAMA would mean more Bush policies… I kid you not: great article:

http://www.theatlantic.com/doc/200809u/mccain-economics

Thanks for not drinking the Kool Aid. That must be difficult because I am sure your peers and family must be applying pressure.

“regardless of how blacks and whites feel about each other, the fact is we rise and we fall together”

The AA’s and others still cannot afford the loans, will default, and lose their homes. And We taxpayers will bail out the lenders.

It corroborates my theory that Obama is just another crooked neocon. That explains why the corporate media fawn over him.

I mean, they would never fawn over a Marxist, right?

The GOP has it all spelled out here, complete with linked sources.

http://www.gop.com/news/NewsRead.aspx?Guid=82d81739-da81-48ea-b329-026ac77bc8ec

Bingo!! 0blowme is this years corporate pick. I am afraid that the Democrats are almost as corrupt as the Republicans. The Abramoff scandal is a clue as to how corrupt the Democrats are. At no time did the Democrats ask or start an investigation into one of the largest slush fund bribing scandals ever and the Democrats kept their mouth shut almost like they were involved also. I feel like it is all one big game and we are the game pieces.

Nobama!!!

The author of that article is as conservative a Republican on the economy as you can get, not a neutral commentator.

Surely Fox is the MSM? Don’t you mean MSNBC? I doubt they will touch it. But this is one of the best and most informative campaign ads I’ve ever seen. How did Bill Clinton let these crooks get away with this?

If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

Jesus Christ. Yes they should make an ad out of it. I’ve learned more about this crisis now in a few posts and ads than I think all the MSM articles can teach. Thanks much!

* Mandatory registration to post at No Quarter *

I have posted comments on this Fannie Mae, Freddie Mac and Obama connection on a different puma blog. So, far there doesn’t seem to be too much interest on this scandal. But, I am hopping mad.

This bailout of the corrupt 110th Congress, Fannie Mae, and Freddie Mac is going to cost us in excess of $1,000,000,000,000. That is a one and twelve 0’s after it. We get stuck with bill and the corrupt jerks that caused this continual to live in mansions.

Heads must roll! That ding bat Nancy Pelosi adjourned the House and went home while the Americans get stuck with a trillion dollar bill. Heads must roll! The wealth of all those responsible, no matter who they are or what party the belong to must be seized to reimburse the American People. Heads must roll!

To this end we should demand an investigation of the matter that is truly independent. That ding bat Nancy Pelosi will no doubt call for an investigation to cover the tracks of the guilty and heap allegations upon the innocent. No way Pelosi, heads must roll.

That is why ask of John McCain to show real leadership and support a truly independent investigation into the scandal. I ask of John McCain to encourage each state in the union to appoint two independent investigators to investigate the corruption of 100th Congress of the United States of America, Fannie Mae, Freddie Mac, and all other parties that have contributed to this trillion dollar fraud upon our citizens..

Hi everyone, if you want this to get traction, I suggest getting it as many views as possible, if it gets a lot of views on youtube, the msm will forced to cover it, that is how they covered wright, when it got a lot of hits on youtube.

Typo in intro of video — is it supposed to be ‘Now video…’ or is it ‘New video’ — ??

Ouch! Great find Susan. Isn’t just sucko when the truth comes back after the fact and bites you in the ARS Backtrack Obama?

remember the previous article right here on No Quarter. Don’t battle the bots!

Obama supporters are quick to say “This is no worse than John McCain’s involvement with Lincoln Savings, John Keating, and McCain’s role in the “Keating Five”. The difference is, no one from Lincoln Savings, including John Keating ever served on John McCain’s election campaigns. And, John McCain donated all money raised by Keating to the US Treasury.

John McCain requested that Federal Banking Regulators give Keating and Lincoln Savings a fair hearing, and make sure they were treated with due process by the regulatory agency. McCain specifically told regulators “I wouldn’t want any special favors for Keating or Lincoln Savings” and “I don’t want any part of our conversation to be improper”.

The Senate Ethics Committee probe of the Keating Five began in November 1990, and committee Special Counsel Robert Bennett, a Democrat, recommended that McCain and Ohio Senator John Glenn be dropped from the investigation.

In February 1991, the Senate Ethics Committee exonerated McCain and Glenn, saying “McCain and Glenn attended the meetings but did nothing to influence the regulators” and declared his actions were not “improper nor attended with gross negligence.”. McCain contributed $112,000 (the amount raised for him by Keating) to the U.S. Treasury. http://www.slate.com/id/1004633/

What has Obama done with the money raised by Pritzker, Raines, and Johnson?

The McCain campaign should use portions of this video in an ad (watch the entire video – there are gaps).

This shows that Obama and the Congressional Black Caucus (CBC) were fully aware of the problems at Fannie Mae and Freddie Mac, and this was before Obama began receiving large contributions from these two quasi-governmental instituions.

It was well known at the time that the books at Fannie and Freddie were being manipulated as questionable loans were given to minorities and to poor people who could not afford them.

But, to Obama and his cronies, extending the dream of home ownership to such groups was more important than fiscal responsibility.

We keep hearing about how “smart” Obama is, but he sure was dumb to ignore McCain’s warning that we were headed for a financial crisis if these lending institutions were not reformed.

Or was he? It’s clear that Obama cares more about income redistribution than sound fiscal policies. His 1960′s style big-government, high-taxation policies are not new. He was opposed to Clinton’s plan to get people off of welfare, one of the most important and far-reaching pieces of legislation from the Cinton era. Obama is sponsoring the “Global Poverty Act,” which will require Americans to “donate” up to $845 billion to “end” global poverty.

Read Obama’s own books, study his mentors, his associates, the Black Liberation Theology of his church of 20 years, his work as a “community organizer,” and with Acorn. This man is a socialist at heart and he believes that “his” people not only deserve home loans, whether they can afford them or not (the rest of us can pay for them), educational reparations, and income redistribution, e.g. tax the “wealthy” – those making more than $250,000, and give it to everyone else, including the 40% who pay no taxes at all.

Of course, taxpayers who work and sacrifice their entire lives to build up their careers and businesses and who might have recently paid off student loans, and finally, after years of hard work are earning $250,000 a year, individuals in their 40′s and 50′s who have employees to pay, are saving for their kids’ college tuition, and probably helping elderly parents as well, plus paying heavy state, local, and business taxes, might not be as wealthy as Sen. Obama suggests. I know many people in this very situation who are definitely not “rich” and are worried they will even be able to save for retirement. I’ve even heard Michelle Obama whine about only recently paying off her and Barack’s student loans, and how they worked for years to get where they are, she who has been making over $100,000/year for quite some time.

Taking the money of these allegedly “rich” Americans, giving it to a government full of losers in Congress who did nothing to avert the current financial meltdown, so that these same do-nothing incompetents can give it to people who don’t even pay taxes is socialism at its finest. As Biden says “it’s our patriotic duty” – well, yeah sure, if you live in a European-style stagnant socialist country.

Anyone who could vote for a man who is afraid to come up with a plan to address a financial crisis that has been brewing for years (despite having 300 advisors at hand) until he finds out what everyone else recommends so that he can either copy it and claim it as his own (if his internal polls tell him that the voters like it) or criticize such proposals if they’re unpopular or don’t work out, will get what they deserve: a junior Senator with no backbone and little experience, whose greatest accomplishment is making millions writing fictionalized accounts of his life.

ACORN who Obama is tied to is tied to this Fannie Mae mess. Another link in the rope that may hang Obama. Just a figure of speech.

Ahhhhhhhh isn’t it too sad?

AIG Stakes Evaporate

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSEtGBXG0C0s&refer=worldwide

Sept. 19 (Bloomberg) — The market storm that brought down Lehman Brothers Holdings Inc., American International Group Inc. and other pillars of U.S. finance may have also blown holes in the portfolios of House Speaker Nancy Pelosi, Senator John Kerry and more than 50 other members of Congress.

Pelosi, in her most recent financial disclosure form, reported that her husband owned between $250,000 and $500,000 of stock in AIG, which ceded majority control to the U.S. government this week in exchange for $85 billion of loans.
Kerry, the 2004 Democratic presidential nominee, disclosed that his wife, Teresa Heinz Kerry, had more than $2 million of AIG stock at the end of 2007, when shares were worth $58.30. AIG has fallen 85 percent this week to close yesterday at $2.69. The lawmakers’ aides didn’t respond to calls seeking comment.

Altogether, 56 senators and representatives had stakes in AIG, Lehman, Fannie Mae, Freddie Mac, Bear Stearns Cos. or IndyMac Bancorp Inc. – some of the biggest casualties of the market bloodbath — according to the Center for Responsive Politics. The most recent annual disclosure filings list investments as of Dec. 31, 2007, and reveal the size of holdings only within a range of values. Lawmakers may have sold shares since then.

Just heard on a local Saturday morning radio program covering real estate issues that Fannie Mae lent Lehman l.5 billion dollars in August – when everyone else was running as far away from the sinking Lehman mess as they could. Makes you go hmmmmmm? Did any of the Democratic Freddie Mae cheerleaders and Lehman Bros. backers like Pelosi and Obama have a hand in this?

There is no doubt in my mind they all conveniently sold them before it tanked. They all belong in jail, the whole lot of them.

“Steal a little and they throw you in jail, steal a lot and they make you king” – Bob Dylan

That quote fits them ALL.

ObamaNomics

You are a upset black person who thinks the white man owes you something. Get off your porch, stop drinking your 40 and get a job.

Senator Harry Reid should be very proud. He now has
his very own puppet. Let’s be truthful here. In 1995 Bill Clinton opened the door to home owership to people that were unable to afford them. If you miss your payment then the taxpayer through Fannie Mae will make them for you. This was a democrat, not Bush, and Not McCain. Get the facts man.