Posted on 09/08/2008 2:14:12 PM PDT by Dubya-M-DeesWent2SyriaStupid!
bookmark
Welcome to Free Republic!
Tens of millions to ‘community agitators’ like ACORN too..
Indeed.
“Those achievements were illusions deliberately and systematically created by the Enterprise’s senior management with the aid of inappropriate accounting and improper earnings management.”
If YOU use fruadulent accounting like this YOU are going to jail.
YOU, not your betters.
No one will swing for Fruad in this fiasco.
Now, let’s talk about somthing else.
Google the names of prior CEO’s of Fannie and Freddie and check their political contributions. A few worked both sides of the aisle but the bulk of their donations were for the Dems. Of course several are now wrking for Obama.
This is worse than Enron but nobody will report it.
Leland Brendsel, Franklin Rains, Rham Emanuel, Jim Johnson, I’m sure there are many others.
http://www.spectator.org/dsp_article.asp?art_id=13841
The GOP has a big share of blame for this too. The twelve years of “Republican” Congress we had from 1995 through 2006 were more than happy to subsidize housing and loosen lending standards. And then they wonder why the conservative base is disillusioned with them. Its the spending and expansion of entitlements like this monstrosity. Its the GOP being one of the cheerleaders for the expansion of Socialism in America.
Yes, they deserve scorn for doing nothing to counteract the fraud before the market went bust. But they deserve far more blame for letting FF&FM off the hook once their failures went public. Propping up failed businesses with money confiscated from productive enterprises is socialistic.
Bear repeating again and again...
“Propping up failed businesses with money confiscated from productive enterprises is socialistic.” and criminal!
Their comments, that we have no idea what the final cost for this will be, definitely caught my ear. Now here is where I'm not sure I'm on the right page. Why was it that the Democrats (and some RINOS) weren't willing to give President Bush a "blank check" when it came to waging the war on terror, but they obviously have no problem with giving the government a "blank check" when it comes to taking over these mortgage lenders? Am I appropriately comparing the two issues, or am I not making any sense?
bookmark
Bloomberg saying interest rates dropping since this news, to become a trend of lower interest rates, speculating interest rates will be 1/2 percent lower within 6 months or less.
Jamie Gorelick (911 fame) was a director.
And she walked away with over $20 million.
Because it will hurt the Democrats in general and Obama in particular.
The crooks that ran Freddie Mac and Fannie Mae into the ground are all now financial advisers to Obama's campaign.
ping for later
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.