Posted on 04/22/2009 5:14:09 AM PDT by xtinct
I agree, and that's what I had in mind (although not expressed as well as you did) when I typed my "routine move" comment. IOW, "home in a trust" isn't useful as an indicator of much anything beyond having average legal advice with structuring ones assets. Said another way, I think "house is in a trust" is irrelevant.
Assuming arguendo that this was a suicide, it was necessarily premeditated to some extent. Suicide, without more, implies premeditation.
phase three: cap and trade to line elite pockets and to finish off the middle class and even the poor.
RE...”To Cheney, not to Bush”
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Agree, and responded as you did to the original poster re Cheney v. Bush getting this whole story.
Bush is sitting in Texas (OK by me — he deserves some rest) but Cheney is out there swinging — and good for him! He has absolutely nothing to lose whatsoever, he’s aging and his health isn’t great — I believe he is writing a book (?) — I think he couldn’t wait for this opportunity to let fly with truths all around. He is one tough mean SOB!!! I love him!
Re: “What do you want on your tombstone?
(Pizza pic shown)
Do not stand on my grave and weep;
I am not there. I do not sleep.
I am a thousand winds that blow.
I am the diamond’s glint on snow.
I am the sunlight on ripened grain.
I am the gentle autumn’s rain.
I am am no longer working at Freddie Mac
Cuz someone shot me in the back”
**********
Oh geez, horrible, but thanks for the laugh — we need SOME laughs these days, don’t we?
I bet Fox News has already given Glenn Beck his perameters for his show today. Even Fox is msm.
parameters (fixing spelling)
hired security? That makes no sense whatsoever if it was for his own safety and his family’s.
Legal zoomers think alike.
RE: “Don’t know it his man was involved in the fraud and venality of the previous CEOs, but he and his family deserve our sympathy.
RIP Mr. Kellerman.
Prayers for you and your family”
************
Agree — How much do you suppose his WIFE knew about the day to goings on at Freddie?????? I’d be scared for her safety if I were another family member or friend......
I can imagine the various sets of books he kept. According to a former friend of mine, (who worked for several of what used to be the Big Eight accounting firms) is was common to have a set of books for the bank, another for the shareholders and another for the IRS. And this guy was party to it for 17 years. Yes, it’s safe to say that he knew too much.
“If you can look at everything that’s happened to this country in the last 2 years and NOT see the possibility of a vast conspricay at work I think you’re nuts.” (#409 & 414 & 421)
and
“”9/11 was phase one. The economic meltdown was phase two. The U.S. is being assimilated into the third world.””
It has taken some of us a while to come to grips with the recognition of watching the well-orchestrated demise of America led by foreign enemies and internal and international global elitest
The questions (especially for FReepers ) remain:
Is it possible to stop the behemoth machine?
If not, where do you jump off? Where is there to go?
http://www.forbes.com/feeds/ap/2009/04/22/ap6325032.html
Mich. friend says Freddie Mac exec chased success
By COREY WILLIAMS , 04.22.09, 04:53 PM EDT
pic
As far back as high school, friends of David Kellermann knew what their classmate’s aspirations were: finding success in corporate America.
“Dave knew he wanted to go to U-M. He went to U-M,” Bay City attorney Jeffrey Martin told The Associated Press Wednesday. “Dave knew he wanted to climb the corporate ladder, and he climbed the corporate ladder. Failure was not an option.”
(snip)
“It shocks the hell out of me that this happened,” said Martin, 42, who along with Kellermann graduated from T.L. Handy High School in Bay City, about 90 miles north of Detroit.
(snip)
“He was a very hard worker and focused on what he wanted,” Martin said. “He wanted to be Alex P. Keaton from `Family Ties.’ He was very successful and he worked hard at it.”
(snip)
Rahm Emanuel is to Obama, what Heinrich Himmler was to Hitler.
____________
Rahm is one of the most evil men on the planet.
“But didn’t Bush try to investigate and pose regulations to this mess in 2003 and was basically told to shut up about it by the Democrats?”
My point exactly. His pandering push for a “Ownership Society” was in 2002. What did Bush EXPECT was going to happen? Investigate and pose regulations just a year later (2003) on something HE was responsible for?
Well...it would make sense to target Republicans with lobbying efforts aimed at dropping the new regulatory efforts, since it was Republicans, after all, that were calling for stricter regulatory oversight. This pretty much proves that the democrats were all in bed with Freddie Mac and Fannie Mae. Not very happy with Newt’s efforts here AT ALL!!
You can bury your head in the sand by blaming only Democrats, but doing is why history repeats itself.
That is complete and utter horse hockey. The FACTS:
The following is a condensation of a series from the Investor’s Business Daily explaining ‘What Caused the Loan Crisis’:
1977: Pres. Jimmy Carter signs the Community Reinvestment Act (CRA) into Law. The law pressured financial institutions to extend home loans to those who would otherwise not qualify. The Premise: Home ownership would improve poor and crime-ridden communities and neighborhoods in terms of crime, investment, jobs, etc.
Results: Statistics bear out that it did not help.
How did the government get so deeply involved in the housing market?
Answer: Bill Clinton wanted it that way.
1992: Republican representative Jim Leach (IA) warned of the danger that Fannie and Freddie were changing from being agencies of the public at large to money machines for the principals and the stockholding few.
1993: Clinton extensively rewrote Fannie Mae and Freddie Mac’s rules turning the quasi-private mortgage-funding firms into semi-nationalized monopolies dispensing cash and loans to large Democratic voting blocks and handing favors, jobs and contributions to political allies. This potent mix led inevitably to corruption and now the collapse of Freddie and Fannie.
1994: Despite warnings, Clinton unveiled his National Home-Ownership Strategy which broadened the CRA in ways congress never intended.
1995: Congress, about to change from a Democrat majority to Republican, Clinton orders Robert Rubin’s Treasury Dept to rewrite the rules. Robt. Rubin’s Treasury reworked rules, forcing banks to satisfy quotas for sub-prime and minority loans to get a satisfactory CRA rating. The rating was key to expansion or mergers for banks. Loans began to be made on the basis of race and little else.
1997 - 1999: Clinton, bypassing Republicans, enlisted Andrew Cuomo, then Secretary of Housing and Urban Development, allowing Freddie and Fannie to get into the sub-prime market in a BIG way. Led by Rep. Barney Frank and Sen. Chris Dodd, congress doubled down on the risk by easing capital limits and allowing them to hold just 2.5% of capital to back their investments vs. 10% for banks. Since they could borrow at lower rates than banks their enterprises boomed.
With incentives in place, banks poured billions in loans into poor communities, often ‘no doc’, ‘no income’, requiring no money down and no verification of income. Worse still was the cronyism: Fannie and Freddie became home to out-of work-politicians, mostly Clinton Democrats. 384 politicians got big campaign donations from Fannie and Freddie. Over $200 million had been spent on lobbying and political activities. During the 1990’s Fannie and Freddie enjoyed a subsidy of as musch as $182 Billion, most of it going to principals and shareholders, not poor borrowers as claimed.
Did it work? Minorities made up 49% of the 12.5 million new homeowners but many of those loans have gone bad and the minority homeownership rates are shrinking fast.
1999: New Treasury Secretary, Lawrence Summers, became alarmed at Fannie and Freddie’s excesses. Congress held hearings the ensuing year but nothing was done because Fannie and Freddie had donated millions to key congressmen and radical groups, ensuring no meaningful changes would take place. ‘We manage our political risk with the same intensity that we manage our credit and interest rate risks,’ Fannie CEO Franklin Raines, a former Clinton official and current Barack Obama advisor, bragged to investors in 1999.
2000: Secretary Summers sent Undersecretary Gary Gensler to Congress seeking an end to the ‘special status’. Democrats raised a ruckus as did Fannie and Freddie, headed by politically connected CEO’s who knew how to reward and punish. ‘We think that the statements evidence a contempt for the nation’s housing and mortgage markets’ Freddie spokesperson Sharon McHale said. It was the last chance during the Clinton era for reform.
2001: Republicans try repeatedly to bring fiscal sanity to Fannie and Freddie but Democrats blocked any attempt at reform; especially Rep. Barney Frank and Sen.Chris Dodd who now run key banking committees and were huge beneficiaries of campaign contributions from the mortgage giants.
2003: Bush proposes what the NY Times called ‘the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago’. Even after discovering a scheme by Fannie and Freddie to overstate earnings by $10.6 billion to boost their bonuses, the Democrats killed reform.
2005: Then Fed chairman Alan Greenspan warns Congress: ‘We are placing the total financial system at substantial risk’. Sen. McCain, with two others, sponsored a Fannie/Freddie reform bill and said, ‘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’. Sen. Harry Reid accused the GOP ;of trying to ‘cripple the ability of Fannie and Freddie to carry out their mission of expanding homeownership’ The bill went nowhere.
2007: By now Fannie and Freddie own or guarantee over HALF of the $12 trillion US mortgage market. The mortgage giants, whose executive suites were top-heavy with former Democratic officials, had been working with Wall St. to repackage the bad loans and sell them to investors. As the housing market fell in ‘07, subprime mortgage portfolios suffered major losses. The crisis was on, though it was 15 years in the making.
2008: McCain has repeatedly called for reforming the behemoths, Bush urged reform 17 times. Still the media have repeated Democrats’ talking points about this being a ‘Republican’ disaster. A few Republicans are complicit but Fannie and Freddie were created by Democrats, regulated by Democrats, largely run by Democrats and protected by Democrats. That’s why taxpayers are now being asked for $700 billion!!
If you doubt any of this, just click the links below and listen to your lawmakers own words. They are condeming! Link 1. Link 2 Link 3
Postscript: ACORN is one of the principle beneficiaries of Fannie/ Freddie’s slush funds. They are currently under indictment or investigation in many states. Barack Obama served as their legal counsel, defending their activities for several years.
From this thread:
http://www.freerepublic.com/focus/f-news/2107677/posts
Re: “I can imagine the various sets of books he kept. According to a former friend of mine, (who worked for several of what used to be the Big Eight accounting firms) is was common to have a set of books for the bank, another for the shareholders and another for the IRS. And this guy was party to it for 17 years. Yes, it’s safe to say that he knew too much.”
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Yes, I know an accountant with many years of experience in large companies and he said that accounting stuff can get pretty creative — NOT good!
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