[George Smiley]

We did the same thing with the Clinton scandals.

This just has too much stuff for one person to put together a *comprehensive* timeline; I figured that with a little "distributed processing" we could put it together before the Senate vote.

[woodb01]

The Democrat Propaganda Enterprises, MSNBC, NBC, CBS, ABC, and CNN are completely SILENT about how the DEMOCRATS ENGINEERED THE CURRENT FINANCIAL MESS!

Democrats Covering up the Fannie Mae, Freddie Mac and Economic Crisis

http://www.youtube.com/watch?v=_MGT_cSi7Rs

http://www.youtube.com/watch?v=3p1Wc2NFa3w

MORE WARNINGS TO DEMS who actually BLOCKED REPUBLICAN ATTEMPTS TO FIX THE MESS IN 2004 AND 2006

EVEN BEFORE THE HOUSING MARKET TANKED, MCCAIN SPONSORED A BILL TO TRY TO FIX FANNIE MAE AND FREDDIE MAC. DEMOCRATS CONTROLLED CONGRESS AND KILLED IT!

Americans everywhere had better quickly come to terms with the fact that the Democrats and their media propaganda machines are anti-American terrorist sympathizers who want America destroyed.


THE BARAK OBAMA - DIRECT CONNECTION TO THE SCANDAL!

http://www.youtube.com/watch?v=AiEWCnpNnBQ

The Story the Democrat Media Propaganda Machine is hiding! The story that EVERYONE IN AMERICA should know!



SEND THESE LINKS TO EVERY PERSON IN AMERICA!

SEND THESE LINKS TO EVERY PERSON IN AMERICA!

EVERYONE NEEDS TO KNOW THAT THE DEMOCRATS CREATED THIS MESS
AND NOW THEIR MEDIA PROPAGANDA MACHINE IS BLAMING THE REPUBLICANS.  THE PUBLIC NEEDS TO UNDERSTAND THAT **NOTHING** RUN BY NBC, CBS, ABC, MSNBC, OR CNN CAN BE TRUSTED.

[Arthur Wildfire! March]

$700 Billion American Taxpayer Dollars to go to Foreigners!
http://www.freerepublic.com/focus/f-news/2094684/posts

[XR7]

BTTT

"If we fail to act, the gears of our economy will grind to a halt," McCain said.
McCain planned to return to Washington to vote on the bill...

Gag me.

[ForGod'sSake]

Excellent idea bump! SUBPRIME LOAN PRIMER

[syriacus]

Bookmarked.

This is a terrific thread. Thanks for setting it up.

Someone at YouTube called this scandal

DemronPerhaps "Dem-ron" would be better.

[George Smiley]

This is a terrific "in a nutshell" presentation http://navlog.org/SHOTINTHEFANNIEMAE.ppt

[ForGod'sSake]

More grist for the mill?

Investment Banks Provided Subprime Lenders with Critical Funding

[Arthur Wildfire! March]

New York Times:

Pressured to take more risk, Fannie hit a tipping point

http://www.freerepublic.com/focus/news/2097902/posts?page=1

[Arthur Wildfire! March]

Even Alec Baldwin gets it now:

Alec Baldwin Points Fingers at Barney Frank & Democrats for Fiscal Crisis

http://www.freerepublic.com/focus/news/2097909/posts?q=1&;page=51

Maybe others wish to continue. Once someone like Baldwin gets it, I think my work on this thread is done. FRegards ....

[ForGod'sSake]

Just adding this to the thread:

Anatomy of the Crisis

[Arthur Wildfire! March]

Rush shocked me with something I didn’t know.

Five Million Illegal Aliens get Fraudulent Loans?

Here’s what a google link yields:

http://www.google.com/search?hl=en&as_q=house+loans+bailout&as_epq=illegal+aliens&as_oq=%

22five+million%22+%225+million%

22&as_eq=&num=10&lr=&as_filetype=&ft=i&as_sitesearch=&as_qdr=all&as_rights=&as_occt=any&cr

=&as_nlo=&as_nhi=&safe=images

Near top of the list, Newsbusters:

headline: Calling the Old Media: Five Million Illegals Have Illegal Mortgages in U.S.A.!

http://newsbusters.org/blogs/warner-todd-huston/2008/10/09/calling-old-media-five-million

-illegals-have-illegal-mortgages-u

Here are some snippets:

” ... One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt. ...”

” ... It’s not known how many of those have contributed to the subprime housing mortgage

meltdown, but it has affected every state, including Arizona. ...”

One FR related link in which HUD denies the charge:
HUD cries foul over illegal immigrant mortgage data
http://www.freerepublic.com/focus/f-news/2101844/posts

Oldexpat posted: Whether it is 1m or 5m is irrelevant. No bank should have been giving mortgages to someone who could be deported any day. Makes no sense. All I know is we have a friend foreclosing on almost one house a day in Orange Co. CA.

[TenthAmendmentChampion]

Some really smart guy needs to make a web 2.0 website called timelines.com (or similar name) where you can use a provided timeline template and insert events to tell your story. Someone who’s good with Java or Ruby on Rails or something.

[TenthAmendmentChampion]

I find the timing of Spitzer’s “investigation” of AIG forcing Hank Greenberg out (and removing the main opponent of Credit Default Swaps) very suspicious.

2005 - Eliot Spitzer (the same idiot who had to resign later from the governorship of NY after he was caught with hookers) forced CEO Hank Greenberg out of AIG. Greenberg did not trust these instruments and stood firm in not allowing them on his books. Once he was gone, the Financial Products division went crazy selling CDSs and making billions.

AIG promised to guarantee banks in case they had above-average mortgage defaults. But the “insurance” policies they sold (CDS instruments) weren’t backed by anything because they were classified as assets and not covered by insurance regulations.

CDS fraud is apparently in the trillions of dollars because they were written into the accounts as assets. They let the brokerage houses lend even more money on high-return loans.

Here’s a good article about Joseph Cassano and his infamous credit swaps.

http://www.portfolio.com/news-markets/top-5/2008/09/28/AIGs-Derivatives-Run-Amok

[TenthAmendmentChampion]

Here's another chart I found:

Loss histories for subprime mortgages in their first year after issuance formed a predictable pattern between 2000 and 2005, but the loss history for subprime loans issued in 2006 broke the mold during the first eight months of 2007.

http://www.calvert.com/news_subprime_anatomy.html