Here we go again. ;o)
Please, at least let’s us Freepers know and tell the truth...
Newt was hired as a consultant when the bank were looking for a way to help people learn how to work, to save and to buy a house - then the process took a turn when the banks got sued and made to adopt the sub-prime loans - giving, ‘gifting’ not ‘low income’ but even ‘no income’, no credit loans.
Newt’s advice - “that’s insane...”
http://politicalticker.blogs.cnn.com/2011/11/15/gingrich-fires-back-at-lobbying-charge/
Now, dig back to just WHO it was that made the banks give those loans? Was it Newt? hardly. Was it the banks? They didn’t want to do it.
Does Acorn and CRA strike a bell? The banks were taken to court on the charge that they were “Redlining (denying poor people loans because of their ethnic heritage)...”
Starting to get the drift?
And who was their lawyer that took it to court? Can you handle the truth?
http://www.mediacircus.com/2008/10/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/
Also, can we please remind ourselves what actual lawmakers received political donations from Freddie and Fannie? Let’s not forget that as of 2008, B.O. was the #2 recipient of donations from them, and that’s going back cumulatively all the way to 1989! There is a difference between collecting fees as a private citizen who’s not representing the people or voting on anything vs. receiving campaign donations as an elected official who’s voting on the country’s policy.
All Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
1. Dodd, Christopher $165,400
2. Obama, Barack $126,349
3. Kerry, John $111,000