Posted on 02/28/2009 2:34:30 AM PST by Scanian
From New York Times September 11, 2003 By Stephen Labaton
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac—which together have issued more than $1.5 trillion in outstanding debt—is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.
(Excerpt) Read more at canadafreepress.com ...
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You think
Bush was a horse sh*t communicator. If he and other republican saw this coming, he should have rallied the AMerican public about it. He didn’t.
I also think that there was a concerted effort by the dems to undermine the Bush gov’t IN EVERY POSSIBLE WAY WITH EVERYTHING BUT A SHUT DOWN OF GOVT. The dems failed to pass his legislation, allow for opening of tradebills such as in Columbia.
Now we have the media and everyone else glowing over Obama.
WHY can someone tell me is every photo of Obama basically of the same pose with the camera angled looking UP to him. I mean every photo online that I’ve seen is like that. Do they now control what photos will and will not be shown to the public?
ping
You see only certain photos because Zer0 is really a funny-looking geek who the media is trying to make into a hansome, compelling superman.
I think too, he knows how to position himself. They have the lecturn propped up higher etc.
Let’s face it, Reagan was pretty photogenic and new where the cameras were and had his poses down perfect.
Obama postures almost always with that menacing “don’t mess with me” pose that the media is eating up.
It will be interesting to watch how this evolves. Right now any photog who publishes him looking in a bad light will find himself ousted from the grounds and not having access again. They will call the photog racist.
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Obama: “If they make a mistake, I don’t want them punished with a baby.”
I also think that there was a concerted effort by the dems to undermine the Bush gov’t IN EVERY POSSIBLE WAY WITH EVERYTHING BUT A SHUT DOWN OF GOVT. The dems failed to pass his legislation, allow for opening of tradebills such as in Columbia.
Ya think? Read this and note the date. Now tell me dim-0s didnt follow this plan to a T.
http://web.archive.org/web/
20030212115427/http://www.
capitolhillblue.com/artman/
publish/article_1476.shtml
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