Posted on 03/27/2009 2:16:18 PM PDT by BuckeyeTexan
Bob Secter and Andrew Zajac of the Chicago Tribune report that, while researching what went at Freddie Mac during the period White House Chief of Staff Rahm Emanuel served on the government sponsored enterprises board of directors, they were unable to get minutes of board meetings and other information:
The Obama administration rejected a Tribune request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuels time as a director. The documents, obtained by Falcon for his investigation, were commercial information exempt from disclosure, according to a lawyer for the Federal Housing Finance Agency.
Freddie Mac executives cooked the books, mismanaged the firm, and ultimately drove it into the ground, costing taxpayers billions of dollars. The commercial information exemption is reserved for private companiesFreddie Mac is by no means a private company anymore.
More obfuscation from President Transparency.
Even then it will tough. Voter fraud is going to be off the charts.
It sure did work for the clintons. The A in ACORN stood for Arkansas when ACORN first started and Clintons connection with the Dixie mob was discussed at great length at FR.
But we'll be the ones tested. Mobsters don't need 15%. They take over with a suitcase of money or a trail of suicided bodies.
Once they're in position it's called consolidation.
Voila. Third World transfusion complete and enough people love you for it the clean up team has a window of opportunity to pillage.
Only the 15 per centers can stop it.
http://www.hoover.org/publications/digest/37904049.html
I forgot to include this link to a Hoover Digest article titled “The House That Government Built”. The evidence is overwhelming that Congress and the bank regulators caused the banks to lower lending standards for political reasons: to increase mortgage lending and home ownership among low income and/or minorities. Once the standards were lowered for that group, it naturally followed that the standards were lowered for those who were better qualified. the whole thing snow-balled, to include low down, zero down, interest only, no doc, low doc, etc.
Private label lenders (non Fannie and non Freddie), had to lower their standards in order to compete for loans. So market competition was twisted in a negative way by the government.
According to The American Spectator article mentioned before, “... in the years just before the collapse of home prices began, about half of all home loans being made in the United States were non-prime loans. Since these mortgages aggregate more than $2 trillion, this accounts for the weakness in bank assets that is the principal underlying cause of the current financial crisis.” - February 2009 issue of The American Spectator, page 26, article titled “The True Origins of This Financial Crisis”
To summarize, Obama and Congess are now screaming for more regulation of the financial system, when in fact Congress and the regulators caused the problem in the first place, aided and abetted by both the Clinton and Bush administrations.
Why don’t we hear this on TV? Why is it not reported in daily newspapers. Most people don’t read Hoover’s Digest or the American Spectator, so they have not heard the facts. People are being mislead to believe that the financial crisis was caused entirely by “evil” bankers and Wall Street, when in fact the Government caused the problem!
Try this for consolidation http://www.openleft.com/showDiary.do?diaryId=5637
The Post American World?
Zombie hunting season.....or maybe White Zombie hunting season.
were commercial information exempt from disclosure
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I got a feeling we will be hearing that excuse again.
One exec quit in March, another found dead yesterday of a companyin which Rahm was at one time on the board.
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