Must see video from 2004 of Maxine Waters, Barney Frank, Gregory Meeks defending Fannie Mae!

several sources | several authors

[ETL]

Must see video from 2004: 'Democrats Defend Fannie/Freddie from Regulation'. Watch it 'til the end. You will not believe it.

"We've been through nearly a dozen hearings where frankly we were trying to fix something that wasn't broke. Mr. Chairman we do not have a crisis at Freddie Mac and in particular at Fannie Mae under the outstanding leadership of Mr. Frank Raines."-Rep. Maxine Waters, 2004

http://www.youtube.com/watch?v=_MGT_cSi7Rs

[ETL]

History of Fannie Mae scandal
"Fannie Mae announces its long-awaited restatement, erasing $6.3 billion in profit from 2001 through June 30, 2004."
http://www.boston.com/business/articles/2006/12/07/history_of_fannie_mae_scandal/?page=1
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Bailout Politics: The Congressional Dems who enabled this crisis are now being trusted to fix it?
Thomas Sowell, September 30, 2008
http://article.nationalreview.com/?q=OWE3OWU3OTExYzNlNTUzMzY2YmJmOWZjMzcwN2M1NjU=
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Guilty Party: ACORN, Obama, and the mortgage mess
Mona Charen, September 30, 2008
http://article.nationalreview.com/?q=Mzk4MmVkNzA1NGQ2NGRkZjQ2YjNmYjdlODZkMmQ4N2I=
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An ACORN Falls from the Tree: A congressional outrage
Ken Blackwell, September 29, 2008
http://article.nationalreview.com/?q=N2Y5MTc0ZTAyMmE1Mjk3NGE3OWRiY2FkMjZlN2YxYzc=

[AngelesCrestHighway]

These asshats are the ones who created this damn mess by forcing Fannie Mae and Freddie Mac to make loans to low income families who had no way in hell of paying anything back!

[ETL]

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Media Mum on Barney Frank's Fannie Mae Love Connection:
Democratic House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive

By Jeff Poor
Business & Media Institute, 9/24/2008

excerpt...

"Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his "spouse." Another Washington Post report said Frank called Moses his "lover" and that the two were "still friends" after the breakup.

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk."

http://www.businessandmedia.org/printer/2008/20080924145932.aspx
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Lawmaker Accused of Fannie Mae Conflict of Interest

By Bill Sammon, October 03, 2008

WASHINGTON -- Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s.

So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions.

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie.

Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical.

"It’s absolutely a conflict," said Dan Gainor, vice president of the Business & Media Institute. "He was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive. How is that not germane?

"If this had been his ex-wife and he was Republican, I would bet every penny I have - or at least what’s not in the stock market - that this would be considered germane," added Gainor, a T. Boone Pickens Fellow. "But everybody wants to avoid it because he’s gay. It’s the quintessential double standard."

A top GOP House aide agreed.

"C’mon, he writes housing and banking laws and his boyfriend is a top exec at a firm that stands to gain from those laws?" the aide told FOX News. "No media ever takes note? Imagine what would happen if Frank’s political affiliation was R instead of D? Imagine what the media would say if [GOP former] Chairman [Mike] Oxley’s wife or [GOP presidential nominee John] McCain’s wife was a top exec at Fannie for a decade while they wrote the nation’s housing and banking laws."

Frank’s office did not immediately respond to requests for comment.

Frank met Moses in 1987, the same year he became the first openly gay member of Congress.

"I am the only member of the congressional gay spouse caucus," Moses wrote in the Washington Post in 1991. "On Capitol Hill, Barney always introduces me as his lover."

The two lived together in a Washington home until they broke up in 1998, a few months after Moses ended his seven-year tenure at Fannie Mae, where he was the assistant director of product initiatives. According to National Mortgage News, Moses "helped develop many of Fannie Mae’s affordable housing and home improvement lending programs."

Critics say such programs led to the mortgage meltdown that prompted last month’s government takeover of Fannie Mae and its financial cousin, Freddie Mac. The giant firms are blamed for spreading bad mortgages throughout the private financial sector.

Although Frank now blames Republicans for the failure of Fannie and Freddie, he spent years blocking GOP lawmakers from imposing tougher regulations on the mortgage giants. In 1991, the year Moses was hired by Fannie, the Boston Globe reported that Frank pushed the agency to loosen regulations on mortgages for two- and three-family homes, even though they were defaulting at twice and five times the rate of single homes, respectively.

Three years later, President Clinton’s Department of Housing and Urban Development tried to impose a new regulation on Fannie, but was thwarted by Frank. Clinton now blames such Democrats for planting the seeds of today’s economic crisis.

"I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac," Clinton said recently.

Bill Sammon is FOX News' Washington Deputy Managing Editor.

http://www.foxnews.com/printer_friendly_story/0,3566,432501,00.html
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Rush Limbaugh's "Barney Frank/Banking Queen" parody of ABBA's "Dancing Queen":
http://www.youtube.com/watch?v=ZwVWXN0Pyq4

[Professor_Leonide]

It’s heartbreaking because we can’t get the media to ask moderately easy questions of BHO and the dems, much less hard ones.

[Cyman]

Having to watch those three at one time would necessitate me enucleating my eyeballs with my letter opener and injecting sulfuric acid into my ear canals.

[avacado]

For the record, Democrat Senator Chris Dodd filibustered that bill in 2004. And the Democrats continued to defeat those bills to regulate Fannie Mae and Freddie Mac in 2005, 2006. Once the Democrats took control of Congress in 2007 the bills were put into the paper shredder.

[Welcome2thejungle]

You would think a woman like Maxine Waters would be on cloud 9 these days. For the first time in her a life time a kindred spirit occupies the White House and her ideological soulmates control the Congress. This is as good as it gets for a person of her ilk. Yet she seems as embittered and angry as ever these days.

[Vision]

BM

[SMARTY]

How did the smartest, strongest, most ethical and resourceful nation on earth founded by and on the principles of political and Christian suffragists become the global running sore of corruption, incompetence, inequity, greed and breathtakingly shameless stupidity???

[river rat]

If YOU were Maxine Waters - wouldn’t YOU be pissed?

[Signalman]

How did the smartest, strongest, most ethical and resourceful nation on earth founded by and on the principles of political and Christian suffragists become the global running sore of corruption, incompetence, inequity, greed and breathtakingly shameless stupidity???

Mind-altering drugs, both illegal, and prescription.

[ETL]

You would think a woman like Maxine Waters would be on cloud 9 these days. For the first time in her a life time a kindred spirit occupies the White House and her ideological soulmates control the Congress.

FYI: Maxine Waters is one of many prominent endorsers of the Revolutionary Communist Party's "World Can't Wait" movement...(the org will probably soon be dropping the "Drive Out the Bush Regime" portion of their title, perhaps replacing it with "Drive Out the Capitalists!")

Endorsers of the [World Can't Wait] Call to Drive Out the Bush Regime Include:

James Abourezk, Aris Anagnos, Rocky Anderson, Anti-Flag, Edward Asner, Russell Banks, Ed Begley Jr., Harry Belafonte, St. Clair Bourne, Gabriel Byrne, Margaret Cho, Ward Churchill, Paulette Cole, US Rep John Conyers Jr., John Densmore, Jesse Diaz Jr., Michael Eric Dyson, Steve Earle, Niles Eldredge, Daniel Ellsberg, Eve Ensler, Laura Flanders, Jane Fonda, Martin Garbus, Senator Mike Gravel, Andre Gregory, Sam Hamill, Suheir Hammad, Rev. Jesse L. Jackson Jr., Mumia Abu-Jamal, Rickie Lee Jones, Sarah Jones, Brig. Gen. (Ret) Janis Karpinski, Jonathan Kozol, Rabbi Michael Lerner, US Rep. Cynthia McKinney, Robin Meyers, Mark Crispin Miller, Tom Morello, Viggo Mortensen, John Nichols, US Rep. Major Owens, Grace Paley, Harvey Pekar, Sean Penn, Michelle Phillips, Harold Pinter, Michael Ratner, Mark Ruffalo, US Rep. Bobby Rush, Susan Sarandon, Richard Serra, Jeff Sharlet, Rev. Al Sharpton, Cindy Sheehan, Martin Sheen, Nancy Spero, Gloria Steinem, Lynne Stewart, Serj Tankian, Sunsara Taylor, Studs Terkel, Gore Vidal, Kurt Vonnegut, Alice Walker, Naomi Wallace, US Rep. Maxine Waters, Cornel West, Ann Wright, Howard Zinn, and thousands more who have already joined us.

http://worldcantwait.net/index.php?option=com_content&task=view&id=2538&Itemid=2
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World Can't Wait--Drive Out the Bush Regime is a Maoist-revolutionary movement organized by the Revolutionary Communist Party. Scroll down the list that appears (after clicking link) to find the World Can't Wait organization (rwor.org is the website of the Revolutionary Communist Party):
http://rwor.org/a/rwlink/links.htm
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From David Horowitz's FrontpageMag.com /DiscoverTheNetworks.org:
Profile: World Can't Wait (WCW)

*Revolutionary communist movement that stages protests against the Bush administration

*Organizes college and high-school students

*Founded in June 2005 by Charles Clark Kissinger, a longtime leader of the Revolutionary Communist Party

http://www.discoverthenetworks.org/groupProfile.asp?grpid=7213
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The RCP calls for the armed overthrow of the U.S. government...

From the website of the Revolutionary Communist Party (revcom.us or rwor.org) :

"Create Public Opinion, Seize Power: We are preparing minds and organizing forces for the time when there is a major crack in the system, whenever it comes and wherever it comes from: an opening that makes it possible to bring the future Revolutionary Army of the Proletariat (R.A.P.) into the field and wage a revolutionary armed struggle that actually has a chance of winning.

And we have said that building our party itself is the most important part of organizing forces for revolution. This is true now, and it is true looking forward to the creation of that future R.A.P. and the waging of that armed struggle.":

http://revcom.us/a/v20/1000-1009/1000/barw.htm
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From David Horowitz's FrontpageMag.com /DiscoverTheNetworks.org:
"Throughout its history, one of RCP's [Revolutionary Communist Party] principal objectives has been to foment civil unrest in the United States. The most notable example of such efforts occurred on April 29, 1992, when RCP members looted and trashed the downtown and government districts of Los Angeles, triggering the infamous Rodney King riots. During the days immediately preceding the violence, RCP -- which maintained close ties to the L.A. gangs known as the Crips and the Bloods -- had circulated throughout South Central Los Angeles a leaflet featuring a statement by RCP National Spokesman Carl Dix, titled 'It's Right To Rebel' -- a quote popularized by Mao Zedong.

Encouraged by Dix, RCP activists helped lead the riots that would leave 58 people dead, more than 2,300 people injured, some 5,300 buildings burned, and $1 billion in property damaged or destroyed. On the ten-year anniversary of the rioting, RCP member Joseph Veale fondly recalled the violence as 'the most beautiful, the most heroic civil action in the history of the United States.'"
http://www.discoverthenetworks.org/groupProfile.asp?grpid=6197
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"The RCP upheld the 1992 sometimes-violent unrest in Los Angeles and nationally as a 'rebellion' in the aftermath of the Rodney King verdicts. Then-LAPD chief Daryl Gates alleged that the RCP was involved in the 'riots'. Los Angeles has long been one of the RCP's larger and more active branches. William 'Mobile' Shaw was a local leader who recently passed and received public commendation from the party."
http://en.wikipedia.org/wiki/Revolutionary_Communist_Party%2C_USA
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Maxine Waters on the Los Angeles riots of 1992/Rodney King riots
(Maxine AGREES with the Revolutionary Communist Party: it was an "acceptable rebellion":
"[Maxine] Waters has been criticized for her comments regarding the Los Angeles riots of 1992. In defense of the people that looted stores and damaged property, Waters said 'If you call it a riot it sounds like it was just a bunch of crazy people who went out and did bad things for no reason. I maintain it was somewhat understandable, if not acceptable. So I call it a rebellion.'[5] She also said it was 'a spontaneous reaction to a lot of injustice' and 'The anger in my district is righteous. I'm just as angry as they are.' She responded to the mass looting of Korean-owned stores by saying: 'There were mothers who took this as an opportunity to take some milk, to take some bread, to take some shoes. They are not crooks. Everybody in the street was not a thug or a hood.'"
http://en.wikipedia.org/wiki/Maxine_Waters#Los_Angeles_riots_of_1992
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Voice of the Revolutionary Communist Party, USA [Maoist]
Revolution interview with ["Peace Mom"] Cindy Sheehan: October 29, 2005:
['Revolution' is the newspaper of the Revolutionary Communist Party]
http://rwor.org/a/021/cindy-sheehan-interview.htm
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[Revolution] Interview with Bill Ayers, Revolution #63, October 1, 2006:
"On Progressive Education, Critical Thinking and the Cowardice of Some in Dangerous Times"
http://rwor.org/a/063/ayers-en.html
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"This is a guy [Bill Ayers] who lives in my neighborhood, who's a professor of English..."

[Welcome2thejungle]

Pissed about what? The Republicans are out of power, there is a Marxist in the White House. Our country is rushing to socialism. Saul Alinsky style Marxism has triumphed.

If I were a Marxist, I would be absolutely delighted watching all of these events unfolding in Washington. Not since the 1930s have we seen this country move so rapidly towards socialism and a greatly expanded role of government. And this is only just the beginning. Wait till they start getting into health care and the environment. Congressman Barney Fwank is already clamoring for major cuts in the one legitimate function of the federal government: the Department of Defense.

[Nathan Zachary]

"These asshats are the ones who created this damn mess by forcing Fannie Mae and Freddie Mac to make loans to low income families who had no way in hell of paying anything back!"

Democrats have had their hands in this since the Carter Admin, when they created this disaster called "The community re-investment act", creating "Acorn" at the same time.

But now, it's conveniently all "Bushes fault", this 2004 video is irrelevant. It wasn't disastrous enough, so they gave it more teeth during the Clinton Admin.

[Dead Corpse]

Links to a bunch of those Dem connections to Fannie and Freddie I keep carping about.

[r-q-tek86]

ping

[river rat]

Take a good look at the beastly wench....
No amount of money, power, cosmetics, style can mask the fact she is nightmarish ugly..

Listen to her speak...
EVERY time she opens her mouth, she reveals her ignorance, racism and anger at her place in life..

In her deepest consciousness, she KNOWS she enjoys her office in Congress to the fact that she represents a district with a majority of miscreants, drug addicts, welfare broodmares, uneducated bastards, former and future convicts and black racists like herself.

Nothing can heal the deep wounds of the self loathing..
Maxine has MUCH about herself to loath....

It explains the “anger” of those in power....

[Swede Girl]

How in the h_ll can anyone (even in Massachusetts) think it is a good idea to vote for this total and complete subhuman. He is an embarrassment for the whole country.

[Welcome2thejungle]

Yes, indeed it does. NOTHING will satify them. Reminds me of the French Revolution when crowds gathered every day to watch people being executed in the guillotine. Nothing could satisfy their bloodlust and desire for vengeance and retribution.

[a fool in paradise]

I suspect criminal conspiracy and willful neglect. They should be on trial.