Replies

Good analysis,in all fairness (Mark did point out on his show Friday) that on several occasions GW and the adm. did try and head off what was a demorat inspired fiasco. It went something like this:

We must let our constituents(those who don't qualify for standard home loans) to have the loans anyway.

So Dem/rats broke all the rules that bankers had used for years and sooner rather than later we have lots of people who bought homes they could ill afford that should not have been there to begin with, not paying their mortgages and defaulting.

Do we now give all of them a pass or let banks foreclose, giving passes just brings us one step closer to Socialism which is where we are headed.

Let's hope McCain and Sarah can turn this lipsticked pig around and head it back to the barn where it belongs.

FNC just ran a repeat of who’s to blame. It too fixes the date at 1999. That would be Clinton but it is also with a Republican congress.

Allowing the commercial banking industry to combine with the investment industry without solid oversight seems to be the underlying culprit in all this.

One more reason to oppose power and money in DC. We need government to keep the playing field level but they must be stopped from helping businesses, or choosing winners and losers.

We must let our constituents(those who don't qualify for standard home loans) to have the loans anyway.

Nine per cent Nan is STILL pimping for this. "We have to protect main street as well as wall street and make sure people can keep their homes..."

She's not the only one pushing more poison as the antidote but she's one of the "leaders".

“So Dem/rats broke all the rules that bankers had used for years and sooner rather than later we have lots of people who bought homes they could ill afford that should not have been there to begin with, not paying their mortgages and defaulting.”

Here’s a post I made the other day. It includes a link to a long article in Fortune from 2005 that has a lot of history on Freddie and Fannie:

I suspect that would be you, other FReeper FRiends and moi.

Here’s another article I found from 2005 and posted on the compilation thread:

Long article (from 2005), but a lot of history:

The Fall of Fannie Mae
This is not your ordinary accounting fraud. Yes, there’s the matter of $9 billion in overstated earnings. But the fight over Fannie is a nasty political showdown where everyone has his own agenda. And it’s not over yet.

By BETHANY MCLEAN
January 24, 2005
(FORTUNE Magazine)

http://money.cnn.com/magazines/fortune/fortune_archive/2005/01/24/8234040/index.htm

7 posted on Wednesday, September 17, 2008 10:02:21 AM by Seattle Conservative (God Bless and protect our troops and their CIC)
http://www.freerepublic.com/focus/f-news/2084407/posts

http://www.freerepublic.com/focus/news/2084338/posts?page=71#71