Originally Posted by Grokmaster

Both President Bush ,AND John McCain sought to rein in the outrageous mismanagement of Fannie Mae and Freddie Mac, but were blocked by (surprise, surprise!!) Democrats. Meanwhile,in less than TWO YEARS, Sen. Barack Obama managed to become the #2 money taker from the failing mortgage underwriters,surpassing all but Chris Dodd's take,in a fraction of time it took others to garner such cash.
Coincidence? Why were Americans NOT WARNED when Frank Raines was FIRED,with his MULTI-MILLION DOLLAR GOLDEN PARACHUTE?


http://hotair.com/archives/2008/09/1...credit-crisis/


http://beltwayblips.com/story/mccain...e_mac_in_2005/


YouTube - Part 2 - Exposing Fannie Mae and Freddie Mac: Corruption



Hmmmm....why is NO ONE BEING PROSECUTED,like at ENRON?

Originally Posted by Grokmaster

Both President Bush ,AND John McCain sought to rein in the outrageous mismanagement of Fannie Mae and Freddie Mac, but were blocked by (surprise, surprise!!) Democrats.

Originally Posted by Latherty

I don't think either FM was exposed to the sub-prime market. I understand they fell victim to the drying up of market liquidity generally.

So what regulation would have you applied to the FM's that would have averted this position?

Originally Posted by ObamaSuperStar

Why must we post the same argument over and over. There are other active threads with the very same material..think they all should be combined.

Originally Posted by Latherty

I don't think either FM was exposed to the sub-prime market. I understand they fell victim to the drying up of market liquidity generally.

So what regulation would have you applied to the FM's that would have averted this position?

Originally Posted by Barack 'Blessed One' Obama/Barry Soetoro

My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody. ... I think when you spread the wealth around, it's good for everybody.

Originally Posted by Barney Frank

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis''......''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Originally Posted by Grokmaster

They encouraged subprime loans with the promise of FM support. Both AIG and Lehman Brothers had large FM holdings as well.

Originally Posted by MrRelevant

Down payments on homes?

Originally Posted by Latherty

The FM's required down-payments. It was only under political pressure in the May of this year that they reduced the required down payments to 5%, but they never dropped the requirement entirely.