Raines, Gorelick, and a sloo of other Clintonites made a fortune looting Fannie and Freddie, and now the taxpayers are going to bail them out so a new bunch of DNC cronies can earn their fortunes.
We should be marching on Washington D.C. with torches and pitchforks. That’s my thought.
“That’s a howler even by Mr. Krugman’s standards. Fannie Mae and Mr. Mozilo weren’t competitors; they were partners. Fannie helped to make Countrywide as profitable as it once was by buying its mortgages in bulk. Mr. Raines — following predecessor Jim Johnson — and Mr. Mozilo made each other rich. Which explains why Mr. Johnson could feel so comfortable asking Sen. Kent Conrad (D., N.D.) to discuss a sweetheart mortgage with Mr. Mozilo, and also explains the Mozilo-Raines tag team in 2003.”
this is the jim johnson that barry placed on (and had to remove from) his veep vetting committee - the jim johnson that reported income from salary as 6 or 7 million from fammie mae but actually got 21 million that year
The current bail out bill gives Freddie and Fannie an unlimited line of credit at taxpayer expense. My question is this: how does this bail out stop the “business as usual” mentality at Freddie and Fannie? It doesn’t. No oversight, no people going to jail, no accountability, no new regulations, just throw more taxpayer $$$$ at it. And all the while, tell the American public that it’s all for the “little guy.”
Great racket. Worst that can happen to you for your crooked accounting and incompetence, is you will be forced to resign. Best case, walk away with $20 Million. Too big to fail, politicians afraid to stop it.
The Mortgage Mess: Bankers Were Robbing People !
Time to wake up, people.
I read a found a report out of LA that said foreclosures were up 263% last month. That is a 'year-over-year' statistic for 2007 to 2008. It will get a lot worse next year. And continue until about 2013.
Raines, Gorelick, and other Clintonites made a fortune looting Fannie and Freddie (F & F). But F & F acted like bankers and top people made a fortune raping and looting ordinary Americans. Heads must roll ! I say, "Line 'em all up for a firing squad" . . .
What happened to all those real estate and mortgage industry shills that used to hang out here? Where are they now? Why were they running an average of about 250 hacking attacks per month aimed at me _________ ?
Because I was telling the truth.
They were trolling for more victims. And also trying to shut me down forever. Obvious insults went ignored by moderators. I almost had a third stroke fighting illegal hacking attacks. The assssssnakes just slithered away into the sunset.
Now they are piling heaps of campaign cash on both parties. Wall Street wants to buy Congress and the White House. And the voters will roll over again and just allow them to take control.
Time to wake up, folks! Or just go back to sleep. Or visit Drudge and catch the latest bovine squat on Batman, Joker, Britney and Obamarama.
My own theory is that Paulsen, on behalf of the PRC and KSA who hold massive amounts of FNM & FRE bonds, showed the congressweasels what would probably happen to the USD and US interest rates if FNM & FRE defaulted on their debts. That was sufficient revelation of the gates of hell to convince the gang of scum in Congress to support their constituents to the best of their ability.
This one is a winner. So much so that I’m thinking of reposting it.