Bail Out or Slush Fund?

Dankster ...

If you hated what Bush did your not going to like O'Bama in the least.

Let's name names: Chris Dodd, Barney Frank, Joe Biden and Barak Obama. Those were the folks who stood in the way of regulations that would have reigned in Fannie and Freddie. The housing/loan debacle started this whole mess. Bush tried to get Congress to legislate in this matter. McCain co-sponsored a bill that would have done the same. The Democrats shot it down. The above mentioned folks raked in huge sums of money from Freddie and Fannie.

Don't you find it a bit odd that there are no senate hearings regarding Freddie and Fannie, and that Pelosi has announced that there won't be any hearings until after the election? Who's being protected here?

That's about it in a nutshell.

Vi



Vi

I'd like some Senate hearings about Fannie. In particular, I'd like to hear more about the guy running McCain's campaign that's been getting Fannie bux ($15k/month) for some years now, in return for doing no work. The last $15k he got from Fannie was just last month. If he gets a check from Fannie for October, that's from our taxpayer money. What *is* that money for? Obviously, it's because he's close to McCain -- influence peddling. That's a crime, and it's one that McCain has ALREADY been busted for, so you'd think he'd have learned...but apparently not.

Influence peddling

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Influence peddling is the illegal practice of using one's influence in government or connections with persons in authority to obtain favors or preferential treatment for another, usually in return for payment. Also called traffic of influence.



Top Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name Office Party/State Total
1. Dodd, Christopher J S D-CT $133,900
2. Kerry, John S D-MA $111,000
3. Obama, Barack S D-IL $105,849
4. Clinton, Hillary S D-NY $75,550
5. Kanjorski, Paul E H D-PA $65,500

Gee, why would they give money to these people?
Instead of contributions it should be called investments, for which they expect a return.

They probably gave money to the McCain guy to convince republicans to get on the gravy train, he just wasn't as successful as they would have wished.

Nice job, Spitzer ...

Any more questions, Bong?

Vi

So Please, the market problems we face now are 2 fold,

1. Was the deregulation of speculative buying of the market. Big mistake.

What is the Commodity Futures Modernization Act?

2. Poor/lack of oversight in the Home mortagages and the selling of securities, even pressure to relax existing regulation in favor of more 'home ownership'. Freddie Mac and Frannie Mae by far the largest problem. Raines' 'cooking the books for higher bonus's', in lock step with Enron and WorldCom CEO's. But he is protected by the Dem's but Obama says' 'Its just someone I know'.

Sound familar?

2003 NY Times article (Bush attempt to ovehaul Frannie and Freddie blocked by Democrats

Now the Dem's knowing that they are at fault, on record for saying 'all was good' when McCain brought it up, now have to 'pop smoke'. So they began the slogan chanting of 'deregulation did it'. Lets blame Bush and by association McCain.

The ones who foresaw the problem.

And all the sheepies fall in line and pick up the slogans.

^^^ And that is exactly why there are no senate hearings on the Fannie and Freddie debacle.

Vi

Look at who Fannie and Freddie's *executives* gave their donations to, and you'll see that it's primarily Republicans. That the employees gave money to other people, I don't care about. Who were the guys making the decisions at Fannie and Freddie giving THEIR money to? The rabbit hole goes deeper than who the EMPLOYEES gave money to.

Again, McCain's staffer has been getting $15 grand a month from Fannie for years, for doing nothing other than whispering into McCain's ear. Two million dollars the guy's firm has soaked up from Fannie, and he's helping McCain run his campaign.

In fact, if you add up all those totals from Fannie/Freddie *employees* to Democrats, it doesn't equal the amount that ONE GUY next to McCain has gotten from them. So yeah, we can see where the corruption really is -- it's in concentrated form and it's standing right next to McCain.

OK, so what it boils down to is this: For the last 150 years, we have been allowing our elected federal officials to trash the Constitution.

The Constitution, being the Law of The Land, was put into place to avoid government plunder.

Because we the citizens discovered long ago that we could vote ourselves perks from the public treasury, we have looked the other way and have allowed this plunder to take place.

To find the real culprits in this Great Train Robbery, we need look no further than our bathroom mirrors.

Vi

Bongulator said:

Look at who Fannie and Freddie's *executives* gave their donations to, and you'll see that it's primarily Republicans. That the employees gave money to other people, I don't care about. Who were the guys making the decisions at Fannie and Freddie giving THEIR money to? The rabbit hole goes deeper than who the EMPLOYEES gave money to.

Again, McCain's staffer has been getting $15 grand a month from Fannie for years, for doing nothing other than whispering into McCain's ear. Two million dollars the guy's firm has soaked up from Fannie, and he's helping McCain run his campaign.

In fact, if you add up all those totals from Fannie/Freddie *employees* to Democrats, it doesn't equal the amount that ONE GUY next to McCain has gotten from them. So yeah, we can see where the corruption really is -- it's in concentrated form and it's standing right next to McCain.

Click to expand...

Did you not just read the top 5 senators who received contributions?

Nevermind that Jim Johnson, former CEO of Fannie Mae went on to Goldman Sachs (Oldman Sacks) and then Goldman Sachs gave nearly $1 Million to the Obama Campaign (still less than Jim Johnson ripped off the shareholders for.)

But then again, maybe that's a coincidence, maybe Obama is into Oldman Sacks... at least that's the only conclusion I can draw from the way Medman preaches about him and his ideology.

"Old man Sacks?" ~lol~ that paints a vision in my head that I don't want there.

Vi

ViRedd said:

"Old man Sacks?" ~lol~ that paints a vision in my head that I don't want there.

Vi

Click to expand...

Sorry Vi

I didn't say McCain got a buttload of money. The guy whispering in his ear got buttloads of Fannie money (may even still be receiving it, dunno), more than all those senators combined. More than all those senators combined PLUS another $1,500,000. And he got that cash for doing nothing except being near McCain. (Well, and convincing McCain to do what they want, obviously.)