Free Republic

Would it be queer to vote for the man who created the housing bubble and hence buggered the U.S. economy? ... Before it all erupted, Fannie and Freddie held or backed half of all American mortgages and a full 20% of their portfolio was subprime. ... Congress allowed them to leverage their assets more highly than any bank (Freddie was in hock for $70 for every $1 in cash it held – banks run at about 30:1 – and some think Mae and Mac’s numbers are low due to the mortgage-back securities for which they were on the hook). ......

WASHINGTON (Reuters) - The Treasury Department is considering giving banks and investors billions of dollars in fresh incentives to modify troubled mortgages and save homeowners from foreclosure, sources familiar with official deliberations said. Under one scenario, investors in second liens would receive a cash payment if they agree to ease the terms of troubled loans and accept a smaller return on their mortgage investment, the sources said. During the height of the housing boom, some borrowers were able to buy a home with no downpayment by adding a second lien and many of those loans are now failing as the...

Americans do not be deceived, Meltdown this tale belongs to these donkeys. On 8/15/08 President Bush reacted to mortgage lending practices promoted by Barrack Obama through the group known as ACORN and protected by key democrats both in the House,Barney Franks and Senate Christopher Dodd. Bush announced a meltdown in lending institutions with Bush's treasury boss offering to be made a "Czar" of a new Department of Dole that starts at $700,000,000,000 billion which would underwrite "ify" paper bought by F&F (Fammie Mae-Frank Mac mortgage houses which already has 300 billion allocated) and AIG insurance. This serious situation was not...

Democrat Congressman has solution for Mexican immigrants--Gay Bomb Mexico! WASHINGTON (Reuters) - A congressman is pushing a quick fix in the debate over illegal immigrants from Mexico: Gay Bomb Mexico! "A slower rate of growth of Mexico's population would improve the economy of Mexico. It would also reduce the environmental pressure on Mexico's ecosystem. But a slower rate of growth would also reduce the long-term illegal immigration pressure on America's borders," reasoned Rep. Barney Franks, who also supports stronger border security in the short-term. Franks, a Massachusetts Democrat, made the argument on Thursday during a heated debate in the House...

Listening to Rush Limbaugh while eating lunch. He is talking about the Senators viewing the other prison pictures. Said some senators say it is real bad while others say more of the same. Then he said that Senator Ted Kennedy said he does not have to look at the photos because he can have Barney Franks and Nancy Pelosi act it out for him! I almost choked on my fish! Then he quickly stated it was a joke. That ought to get the liberal panties in a wad!