Posted on 09/23/2008 4:56:31 PM PDT by Fred Nerks
WASHINGTON — The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.
(Excerpt) Read more at foxnews.com ...
as i understand it, gorelick got off scott free and raines got a $2 million fine - that fine was paid by his insurance policy - the premiums for that policy were paid by fannie mae
democrats have a funny idea of justice
F. Raines has went from “Economic Adviser” to “we had one phone call” in less then a week, then there is Jim Johnson, the fmr Chariman at Fannie who headed Obama’s “VP vetting team” until the dirt about Countrywide landed on him, never mind he got the job via his time giving away Fannie Mae money to groups like ACORN..
Then there is Jaimie Gorelick, and of course Obama’s 130k in 140 days tour in the Senate courtesy of Fannie Mae..
Notice it isn’t the Fannie Mae crooks being hauled in front of Mayor McCheese ( Chris Dodd) for the “hearings”?
Sure don't have a hard time prosecuting our border agents though....
Feel like I'm coming down with a mild case of Bush Derangement Syndrome over here
First give them more money then investigate. I feel better knowing how our tax dollars are being used.
I was part of a class action suit against Fannie Mae several years ago. Their shennigans have been going on for a very long time.
Raines has already been convicted once. He paid a measly 2 million dollar fine, the company paid a 400 million dollar fine.
the fraud was done by carter (cra) and clinton (reno) by forcing loans to be made to unqualified buyers - all else is distraction
I had to look to find out and found this at Wikipedia.
Gorelick was added in February 2006 to Duke University's defense team after the 2006 Duke Lacrosse Scandal.
Yea so I guess she really HAS been everywhere screwing things up lol
Raines wipes his rear end with 2 million dollars. He needs to go to Leavenworth.
She was instrumental in a decisive turn allowing 9-11 to happen.
God I hope so! And I hope McCain will hammer "The One" for his associations with them!
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I think that there are a whole lot of us that want to see these scam artist put in jail. I can't believe the arrogance and condescension by Shumer, Frank, Dodd!!
Even more disgusting is that not a single Republican is man enough to stand up to them and call these perp out!!!
Of course there is fraud.
The government (due to pressure from the liberals) forced lending institutions to stop “red-lining”. In other words, stopped them from drawing a line through those people who could not afford to buy homes. And the government forced the lending institutions to loan money to people who (1) didn’t have a down payment, (2) didn’t have good credit ratings, (3) didn’t have established income.
Since we don’t have debtors prison in this country, there was literally no risk involved to those people who bought homes they couldn’t afford.
So, lots of poor, disadvantaged people were able to buy new homes they could not afford. (This was good for new home construction.) To furnish these newly bought homes, they bought houses-full of new furniture with credit card credit. (Good for credit card companies.) Naturally, since these new home owners are living above their means, they could NOT pay the credit card debit or the mortgage payments – and eventually everything has to go back.
But that’s not the whole problem. There is the FRAUD. Greedy, self-serving people saw the line forming to get credit without risk – and here is where the fraud comes in – they got their brothers, sisters, relatives, to get in the “cheap” line – rather than getting in the line to purchase reasonable and affordable housing. Of course, the lending institutions participated in the fraud.
If you see two lines: one line of people who are given credit without risk, and one line of people who are given credit at a risk – which line gets longer?
Two separate issues here: Fraud and socialism.
Nice. I’d like some sleep-deprived interrogations,followed by confessions, followed by 3AM trials covered by C-Span and a delicious and fitting sentence.
This is one idea that I cannot agree with.
Three large banks, Wells Fargo, US Bancorp, and JPMorgan Chase made virtually no subprime loans. They were not bothered in any way by the government, but stock analysts ridiculed them for being too stodgy and conservative.
LLS
http://www.gopusa.com/commentary/mreagan/2008/mr_09191.shtml
‘...According to the Center for Responsive Politics, the top three U.S. Senators getting big Fannie and Freddie political bucks were Democrats, and No. 2 was Sen. Barack Obama, who as Fox noted had only been in the Senate four years but still managed to grab that No. 2 spot ahead of longtime colleagues John Kerry and Chris Dodd, the chairman of the Senate Banking Committee.
According to Fox, Fannie and Freddie were where big-time Washington Democrats went to work and pocketed millions. Franklin Raines, Clinton’s White House Budget Director, ran Fannie and collected $50 million.
Jamie Gorelick, an official in Clinton’s Justice Department — the woman who built the “wall” that prevented the FBI from targeting terrorists before 9/11 — worked for Fannie Mae and took home $26 million. Big-time Democrat Jim Johnson, who headed Obama’s VP search committee, also hauled in millions from running Fannie Mae...’
W stepping up to the plate and taking a swing? Another "misunderestimation"?
It may not be Biden that Hillary needs to be replacing on the ticket.
In a statement released to the press, Marie Antoi-gorelick said, “Let them eat cake.” It was noted that she was being lead to the guillotine by citizens bent on correcting her misbehavior.
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