Rick Perry will be next President

You have everything figured out. Go ahead and fix it. What do you want? everyones approval?

 

Can't fix it while the Monumental Fraud, Commie/Socialist, Racist Owebama is the Prez, with a Corrupt Dem Senate.....any lobotomized retarded parameciums, with their heads up their rectums, would realize that.

 

Yes this post is a typical example of brainwashed right winged nonsense without any arguments. Its quite pathetic .

 

K995,

The irony of it !!!

Doncha see that my post has at least a DOZEN IRREFUTABLE FACTS which are PUBLIC KNOWLEDGE..... whilst your TWO POSTS combined have NONE !!!!



Talking about PATHETIC ?!?!?

 

Perhaps in your own fantasy world . In the real word thats just some stupid insults from someone who obviously has irrational hate.

Yep, when you can have a civilized dicussion you might not sound pathetic anymore. LOL

 

Clinton, Reno and Acorn caused much of the problem


http://www.americanthinker.com/2008/10/what_really_happened_in_the_mo.html


June 1995

Republicans had won control of Congress and planned CRA reforms. The Clinton Administration, however, allied with Rep. Frank, Sen. Kennedy (D-Massachusetts) and Rep. Waters (D-California), did an end-around by directing HUD Secretary Andrew Cuomo to inject GSEs into the subprime mortgage market.

As Kurtz notes,"ACORN had come to Congress not only to protect the CRA from GOP reforms but also to expand the reach of quota-based lending to Fannie, Freddie and beyond." What resulted was the broadening of the "acceptability of risky subprime loans throughout the financial system, thus precipitating our current crisis."

The administration announced the bold new homeownership strategy which included monumental loosening of credit standards and imposition of subprime lending quotas. HUD reported that President Clinton had committed "to increasing the homeownership rate to 67.5 percent by the year 2000." The plan was "to reduce the financial, information, and systemic barriers to homeownership" which was "amplified by local partnerships at work in over 100 cities."

Kurtz concludes, "Urged on by ACORN, congressional Democrats and the Clinton administration helped push tolerance for high-risk loans through every sector of the banking system -- far beyond the sort of banks originally subject to the CRA. So it was the efforts of ACORN and its Democratic allies that first spread the subprime virus from the CRA to Fannie and Freddie and thence to the entire financial system. Soon, Democratic politicians and regulators actually began to take pride in lowered credit standards as a sign of ‘fairness' -- and the contagion spread."

Attorney General Janet Reno, with a number of bank lending discrimination settlements already, sternly announces, "We will tackle lending discrimination wherever it appears." With the new policy in full force, "No loan is exempt; no bank is immune." "For those who thumb their nose at us, I promise vigorous enforcement," reiterated Reno.

 

Fannie's market share of subprimes decreased in the mid-2000s, until it picked back up in 2005-07:

Fannie's market share of subprime mortgage-backed securities issued dropped from a peak of 44% in 2003 to 22% in 2005, before rising to 33% in 2007.

More than 84 percent of the subprime mortgages came from private lending institutions in 2006 and the share of subprime loans insured by Fannie Mae and Freddie Mac decreased as the bubble got bigger (from a high of insuring 48 percent to insuring 24 percent of all subprime loans in 2006). Despite conservative criticism for government lending programs as the main cause of the crisis, much of the crisis was independent of government home loan programs.

http://en.wikipedia.org/wiki/Government_policies_and_the_subprime_mortgage_crisis

 

So Bush slowed it and when the dems took control of congress it again increased

 

The repubs had control of the congress in 2005 and 2006. Plus, oversight of Fannie was by the WH OFHEO.

 

Bush gave warnings but Franks and Dodd did not want it changed

[ame="http://www.youtube.com/watch?v=cMnSp4qEXNM"]Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown - YouTube[/ame]

 

Frank and Dood wanted it changed and compromised with the Republicans to pass a law to increase regulation of F/F but the Bush Administration gave them "the one fingered salute."

Here is the vote of the Democrats on HR 1461, the Federal Housing Finance Reform Act of 2005, which was the *only* bill to regulate F/F to ever be passed (in 2005) by a chamber of the Republican controlled Congress.

Party - Ayes - Nays
Republican 209 15
Democratic 122 74

http://clerk.house.gov/evs/2005/roll547.xml

And here is the the Bush administration's response to this, the only bill to regulate F/F ever pased by either chamber of the Republican controlled Congress:

http://www.presidency.ucsb.edu/ws/index.php?pid=24851

"the Administration opposes the bill"

And here's a link to an article about Republican Mike Oxley, of Sarbannes-Oxley fame, then ranking Republican majority member and chair of the House Financial Committee on Financial Services and sponsor of that bill, saying how they "got a one-finger salute” from the Bush White House.


He fumes about the criticism of his House colleagues. “All the handwringing and bedwetting is going on without remembering how the House stepped up on this,” he says. “What did we get from the White House? We got a one-finger salute.”

The House bill, the 2005 Federal Housing Finance Reform Act, would have created a stronger regulator with new powers to increase capital at Fannie and Freddie, to limit their portfolios and to deal with the possibility of receivership.

Mr Oxley reached out to Barney Frank, then the ranking Democrat on the committee and now its chairman, to secure support on the other side of the aisle. But after winning bipartisan support in the House, where the bill passed by 331 to 90 votes, the legislation lacked a champion in the Senate and faced hostility from the Bush administration. Adamant that the only solution to the problems posed by Fannie and Freddie was their privatisation, the White House attacked the bill. Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all.


http://www.ft.com/cms/s/0/8780c35e-7e91-11dd-b1af-000077b07658.html
http://www.salon.com/tech/htww/2008/09/10/greenspan_bush_fannie_freddie/index.html
http://krugman.blogs.nytimes.com/2008/09/10/one-finger-salute/

 

You can see the Bush administration warnings here.

The Bush administration's OFHEO, responsible for oversight of Fannie and Freddie including the adequacy of their capital structure issued reguarly reports on the adequacy of F/F's capitalization. And if you read them, you can see the warnings about their capitalization danger:


March 31, 2003
WASHINGTON, D.C. — Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), has determined that the Enterprises were adequately capitalized under OFHEO’s capital standards as of December 31, 2002.
http://www.fhfa.gov/webfiles/805/cc33103.pdf

March 31, 2004
WASHINGTON, D.C. — Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), has determined that the Enterprises were adequately capitalized under OFHEO’s capital standards as of December 31, 2003. Although OFHEO imposed a capital surcharge for Freddie Mac in January 2004 due to increased operational risk, that surcharge does not impact past periods, including the fourth quarter 2003.
http://www.fhfa.gov/webfiles/798/capclass33104.pdf

March 31, 2005
WASHINGTON, D.C. — Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), has classified Freddie Mac as adequately capitalized as of December 31, 2004.
http://www.fhfa.gov/webfiles/792/capclassfreddie33105.pdf


March 31, 2006
WASHINGTON, D.C. — Stephen Blumenthal, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO), safety and soundness regulator for Fannie Mae and Freddie Mac (the Enterprises), classified Fannie Mae and Freddie Mac as adequately capitalized as of December 31, 2005.
http://www.fhfa.gov/webfiles/787/capclass33106.pdf


March 30, 2007
WASHINGTON, DC — James B. Lockhart III, Director of the Office of Federal Housing Enterprise Oversight (OFHEO), the safety and soundness regulator for Fannie Mae and Freddie Mac, classified Fannie Mae and Freddie Mac as adequately capitalized as of December 31, 2006. Fannie Mae’s classification is based on estimated numbers submitted by Fannie Mae and not financial statements released to shareholders. Freddie Mac’s classification is based upon numbers consistent with the information statement and annual report it released on March 23, 2007.
http://www.fhfa.gov/webfiles/2235/4Q06capclass.pdf


Sept 27, 2007
WASHINGTON, DC . James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO), the safety and soundness regulator for Fannie Mae and Freddie Mac, classified Fannie Mae and Freddie Mac as adequately capitalized as of June 30, 2007.
http://www.fhfa.gov/webfiles/780/OFHEO_mincap_2q07.PDF

March 11, 2008
WASHINGTON, DC . James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO), the safety and soundness regulator for Fannie Mae and Freddie Mac, classified Fannie Mae and Freddie Mac as adequately capitalized as of December 31, 2007. Both Fannie Mae and Freddie Mac have publicly released financial results for year-end 2007 and OFHEO.s results are consistent with those publicly released data.

http://www.fhfa.gov/webfiles/777/OFHEO_mincap_4q07.PDF


June 9, 2008
WASHINGTON, DC . James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO), the safety and soundness regulator for Fannie Mae and Freddie Mac, classified Fannie Mae and Freddie Mac as adequately capitalized as of March 31, 2008. Both Fannie Mae and Freddie Mac have publicly released financial results for the first quarter 2008 and OFHEO.s results are consistent with those publicly released data.

http://www.fhfa.gov/webfiles/776/OFHEO_mincap_1q08.PDF

October 9, 2008
FHFA ANNOUNCES SUSPENSION OF CAPITAL CLASSIFICATIONS DURING CONSERVATORSHIP AND DISCLOSES MINIMUM AND RISK-BASED CAPITAL CLASSIFICATIONS AS UNDERCAPITALIZED FOR THE SECOND QUARTER 2008 FOR FANNIE MAE AND FREDDIE MAC ... Director Lockhart is classifying Fannie Mae and Freddie Mac as of June 30, 2008, prior to the conservatorship, as undercapitalized using FHFA.s discretionary authority provided in the statute.

http://www.fhfa.gov/webfiles/775/FHFA_Suspension.PDF
http://www.fhfa.gov/Default.aspx?Page=178&ListNumber=0&ListYear=2002

Ooops.

 

A bill to increase Fannie and Freddie. That would have been worse. I showed Bush gave warnings and the democrats blew him off and would not let reforms pass

The GOP wanted reforms and the Dems said there was no problem and blocked legislation.


[ame="http://www.youtube.com/watch?v=_MGT_cSi7Rs"]Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis - YouTube[/ame]

 

You ignore what I have shown. Bush and the GOP in congress were correct and the tax payers have had to bail out them under Obama

 

Bush through his OFHEO was telling everyone F/F were adequately capitalized right through the Summer of 2008.

Bush Mr. Ownership society promoted policies to expand home ownership right in the midst of the bubble.

Bush "Mr. Regulation" gave the "one figured salute" to the Republicans and Dems in the House that supported the *only* bill ever passed by the Republican controlled congress to regulate F/F.

I appreciate you've found a couple hatch job videos of 4-5 Dems.

But the facts I posted are irrefutable, from reliable sources.

 

How does that video of 5 Dems in 2004 prove they blocked legislation?

Here is the vote on the *only* bill to regulate F/F ever passed by a chamber of the Republican controlled Congress:


Party - Ayes - Nays
Republican 209 15
Democratic 122 74

http://clerk.house.gov/evs/2005/roll547.xml

More than 60% of the Dems vote along with over 90% of the Republicans in favor of that bill.

Please explain how that is the Dems blocking it?

Here is the Bush administration response:


http://www.presidency.ucsb.edu/ws/index.php?pid=24851

"the Administration opposes the bill"

Please explain how that is the Dems blocking the legislation.

 

ptif219,

Absolutely correct.

In numerous posts, I have mentioned the Youtube videos of the LATEST Congressional Committee Hearings on F&F where the CORRUPT Congressional Black Racist Caucus yowled and Hollered at the Bush Representatives. There were at least 3 o4 Rep Senators and/or Congressmen protesting the lack of regulation, and the need for greater regulation to stem off the predictable F&F Disaster....to no avail.

These Corrupt Black Racists attacked the Bush Reps as though they were criminals trying to block the fine work of the F&F. Predictably, the Queen of Sleaze, the $%^#^* Maxine Waters, attacked the Bush representatives and applauded the actual criminal CEO of Fannie Raines for his excellent work.

Yep, Raines is the SOB who got kicked out of his office as CEO of Fannie, and absconded with over $200 MILLION. And, so did his compadre, the CEO of Freddie, Johnson, who, by some estimates got away with even more.

Both of these buttholes, IMMEDIATELY, after being bounced, were given top jobs in the Political Charlattan's Owebama's cabinet: Raines as Owebama's Chief Financial advisor. And, Johnson, as the Honcho in charge of the selection of the next veep, Biden.

Both of these %$^#&@* buttholes evaporated from their appointments as soon as the public limelight focussed on their appointments into that Financial Heaven reserved for the top DEM crooks.

BTW, to give them some credit, allthe Black Racist Congressmen apologized to the Bush reps later. Predictably, The Queen of Sleaze, the ^%$#&* Maxine Waters never did.

 

The key words in the tripe is: ....."through the Summer of 2008."

At that time, some credit for the viability of the F&F concept was kinda acceptable..... but when the FULL FORCE of the unindicted DEM criminals Chris Dodd (Chairman of the Senate Finances), and Bwarney Fwank (Chairman of the House Finances) got unbridled power..... when these, with the strong backing of, especially, the CORRUPT Congressional Black Racist Caucus.....started their assault on banks, practically FORCING them into the ridiculous "SOMETHING fer NOTHING" well established Modus Operandi of the flucking DEMS .....that's when the feces hit the fan.

THAT is when the Bush Reps plus the Republican Senators & Congressmen (caught n the Youtube videos) strongly protested the ridiculous DEM "SOMETHING fer NOTHING" Bullchet .....but, to no avail.

BTW, most of the people saw O'Reilly's exposure of the unindicted criminal Bwarney Fwank take a shellacking for Fwank's puke on his show.

In regard to your comment about the "hatch job" videos.....a better description of these videos is: "the exposure of the DEM sleazebags".

 

So you will not believe it when i show the democrats saying it.

McCain tried to pass reforms but the democrats blocked it. That was in the Fox news you tube

 

[ame="http://www.youtube.com/watch?v=4n5dKztd96k"]McCain Tried To Reform Fannie & Freddie, But was Stopped by every Democrat Senator... - YouTube[/ame]

 

ptif219,

Something you gotta realize (if you haven't already).

These Obamarrhoidals are not rational. You will never convince the Obamarrhoidals of ANYTHING that runs contrary to their ideology, even if it's their actual surname.

The ONLY reasons I respond to their obvious bullchet is 1) it's fun to squish them like the bugs that they are. And, 2) hopefully to amuse, and/or give ammunition to the rational ones in their exposure of this scum.

 

It is fun showing them for the partisan hacks they are.

 

And that's a FACT, JACK !

 

You only showed 5 Democrats. What about the other 200 or so?

McCain did nothing but jump on as a sponsor a year after the bill was already dead. The Republicans could have brought it to a floor vote at any time.

Consider other sources of information than Murdoch propaganda outlets if you want a more informed view.

 

By 2008, the housing bubble had already blown up and imploded.

http://mysite.verizon.net/vodkajim/housingbubble/united_states.png

The damage was already done and the house of cards was falling.

Frank joined with the Republicans and supported the *only* bill ever to pass a chamber of the Republican controlled congress to regulate F/F, by the way.