Free Republic

A US senator said Wednesday that the Securities and Exchange Commission may have destroyed thousands of documents related to probes into possible violations by major banks and hedge funds. Senior Republican Senator Chuck Grassley said that "an agency whistle-blower" sent him a letter that described the SEC's allegedly unlawful destruction of records related to more than 9,000 informal investigations. The documents included cases arising from the 2008-2009 financial crisis, including Goldman Sachs, AIG, and the Bernard Madoff pyramid fund, according to the whistle-blower, Grassley said. The whistle-blower, 13-year SEC lawyer Darcy Flynn, said the destroyed records related to "matters under...

Anyone logged in to linkedin can discover the following if they search under the name "Herb Moses": Herb Moses Specialist at FDIC Location: Orange County, California Area Industry: Financial Services Current •Specialist at FDIC Past •Home Mortgage Consultant at Wells Fargo Home Mortgage •Account Executive at Washington Mutual •Director of Product Development at Fannie Mae

Even if Congress goes Republican in the fall, assuming nothing gets done in a lame duck session, I do not trust Washington to fix this mess without significant pressure on them from the middle-class at the time. How can you solve the mortgage industry problems brought about by the Community Reinvestment Act by giving lower income people more help? Are we simply going to buy them houses outright? If Obama has his way, they'd pay for that by doing away with tax breaks for people who actually pay their mortgages on time. No matter what, I don't see Obama signing...

SUBPRIME MORTGAGE CRISIS HITS WHOREHOUSESMarch 3, 2010 It looks like Brooklyn District Attorney Charles Hynes is on track to win another endorsement from ACORN! This week, Hynes announced that "no criminality has been found" after his investigation of the videotapes made by investigative journalists James O'Keefe and Hannah Giles, which show ACORN employees counseling the pair on getting a mortgage for a house of prostitution. (They got a choice of government loans: Phat Fannie Mae, Prince Freddie Mac or Barney Fresh Daddy Frank ... aka "Sir Fix-A-Lot.") I'm just glad to know that Hynes conducted a thorough "investigation" first. Who...

Barney Frank was a leading opponent of the regulation of Fannie Mae and Freddie Mac. Frank never made to answer about how we got into the present crisis. Why he fought so hard to squash regulation or why he pushed Fannie and Freddie to get involved with making loans to people who could not afford them? Because he was never confronted, he has been empowered to go at it again. In March, Fannie Mae announced it would no longer guarantee mortgages on condos in buildings where fewer than 70 percent of the units have been sold, up from 51 percent,...

WASHINGTON, D.C. ( LifeSite­News) — As mortgage giants Fred­die Mac and Fannie Mae hurtled to financial ruin, their charitable foundations continued to pour money into homosexual causes, reports the organization Parents and Friends of Ex- Gays & Gays ( PFOX). Their largest single gifts came in the last year — just months before both companies collapsed and were taken over by the govern­ment. Freddie Mac gave more than $ 20,000 to the 2008 fundraising gala of the Washington, D. C., chapter of Parents and Friends of Lesbians and Gays ( PFLAG- DC). Fannie Mae gave between $10,000 - $ 19,000...

Are journalists playing favorites with some of the key political figures involved with regulatory oversight of U.S. financial markets? MSNBC’s Chris Matthews launched several vitriolic attacks on the Republican Party on his Sept. 17, 2008, show, suggesting blame for Wall Street problems should be focused in a partisan way. However, he and other media have failed to thoroughly examine the Democratic side of the blame game. Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient...

Here is just one of the many Democrats comments MAXINE WATERS "We have had a dozen hearings trying to fix something that wasn't broke. Mr. Chairman we do no have a crises at Freddie Mac and Fanny Mae."

WASHINGTON — The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.

It's not often that one person plays key roles in two -- count 'em, two -- trillion-dollar disasters. Welcome, my friends, to the world of well-connected Democrat Jamie Gorelick. In 2004, observers were "astonished" to discover that a key member of the 9/11 Commission had a fatal conflict-of-interest. Jamie Gorelick had served as a Deputy Attorney General under Bill Clinton from 1994 to 1997.....

To: Senator Hillary Clinton, Senator Christopher Dodd, Senator Charles Schumer and members of Congress Please do not support the efforts to bail out mortgage holders and mortgage lenders with my tax dollars. As a responsible citizen, I do not believe it is right for you to ask me to pay for other peoples’ financial excesses, especially since a bailout encourages lenders to continue making predatory loans, with the assumption that taxpayers are on the hook. Further, we believe that the liability of the mortgage mess should NOT be shifted to GSE’s Freddie and Fannie. I appreciate the goal of helping...

Downsizing Fan and Fred The Monitor's View If the government-sponsored mortgage giants known as Fannie Mae and Freddie Mac knew what was good for them, they'd accept proposals to create a more muscular regulator over them and reduce their supersized $1.5 trillion portfolios. Those proposals were laid out in a bill introduced on Tuesday by Rep. Richard Baker (R), chairman of the House financial services subcommittee on capital markets. His measure rightly reflects a growing, post-Enron alarm in Congress over the risks a potential collapse of these two beasts poses to the nation's economy. Yet officials at Freddie Mac have...