Sep
What lead to the Collapse of Fannie Mae and Freddie Mac?
Ed Morissey of Hot Air wrote a very interesting and revealing article detailing what lead to the Collapsing of Fannie and Freddie. It appears that there was a red flag that was raised back in 2003 already, suggesting that Fannie and Freddie accounting system was broken and manipulated. And guess who raised the red flag? George W. Bush…remember…our current president? See below for the quote from Ed’s resource,
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.
Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.
The recommendation was presented at the Congressional Hearing. Did Congress listen? Nope…they just ignored it and went on…
Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”
I don’t know about you, but from reading the article, it is apparent to me whose buns should be on the grill! Could Barney’s be it?
Or perhaps we can just close our eyes and ears and tell it to ourselves or to our friends:
Bush Lies!!! Fannie and Freddie Dies!!! OR
Bush is just a dumb cowboy from Texas…what does he know about the economy…Barney knows BEST! Yay Barney!
After doing further research into this Fannie and Freddie mortgage mess, I found another revealing article:
McCain’s attempt to fix Fannie Mae, Freddie Mac in 2005
If this is the case, why’s this one not told all over the media? Is there such thing as liberal media bias?
And guess who are the top 3 recipients of Fannie Mae and Freddie Mac campaign contributions between 1998 and 2008? A simple google search with keywords “who’s the biggest Fannie Mae recipient in senate” brought me to this information on the top 3 recipients of Fannie Mae and Freddie Mac campaign contributions between 1998 and 2008.
There’s plenty of blame to go around…don’t worry, everyone will get their fill. But come on…to say that this meltdown happened SOLELY because of the Bush economy policy is TOO FAR of A STRETCH when such charge is coming from a candidate whose party has opposed more Fannie and Freddie oversights proposed by John McCain in 2006 and is in the top 3 Fannie and Freddie campaign fund recipient during his 2 years tenure in the senate.
Rhetoric brings Excitement, Track Records bring Confidence!
Sep
Sarah Palin Rocks!
Hi everyone! This is my 1st post for this blog. First off, I just want to say that this blog would not have existed, had John McCain not selected Sarah Palin for his VP for this 2008 Presidential Election. Why? Because Sarah Palin Rocks. PERIOD 
Okay. That was a joke! Sarah Palin Rocks because of all the following reasons:
a) She’s a mom
She’s a mom of five kids: Track, Bristol, Willow, Piper and Trig.
b) She’s pro-life
And she lives by what she believes. Trig is a very cute 5 months old baby boy, who was born with a down syndrome, who because of his parents’ love, was given a CHOICE to live.
c) She’s a fiscal conservative and pro small government
She believes in wise and controlled spending and cutting taxes when needed. In fact, she started her career in politics as the member of the city council of a small town in Alaska called Wasilla, in 1992. Palin says she entered politics because she was concerned that revenue from a new Wasilla sales tax would not be spent wisely. She also used her veto power to make the second-largest cuts of the construction budget in state history. The $237 million in cuts represented over 300 local projects, and reduced the construction budget to nearly $1.6 billion. In 2008 Palin vetoed $286 million in funds for 350 projects from the FY09 capital budget.
d) She’s a maverick
She took down the incumbent governor of Alaska, Frank Murkowski, a Republican governor. She was running on a clean goverment platform and successfully managed to enact on his campaign platform. Her first legislative action after taking office was to push for a bipartisan ethics reform bill.
e) She’s a businesswoman
She and her husband own a commercial fishing company.
f) She’s beautiful
Have you seen her?
g) She gives the word “FEMINIST” breath of fresh air
According to wiki, feminist is:
- A person who supports the equality of women with men.
- A member of a feminist political movement.
- One who believes in the social, political, and economical equality of the sexes.
And feminism is:
A social theory or political movement supporting the equality of both sexes in all aspects of public and private life; specifically, a theory or movement that argues that legal and social restrictions on females must be removed in order to bring about such equality.
So, by definition, Palin is a feminist and she is actually a member of the Feminist for Life organization.
h) She’s not part of the Washington establishment (congress,senate)
She’s lived her whole adult life in Alaska…need I say more?
Because McCain had picked Sarah Palin as his running mate, the Conservative Republican base is energized. I am energized! Hats off for John McCain for picking Sarah Palin. Looking at her and listening to her talking, I can feel she’s so one of us. She may not be an excellent interviewee, but as long her heart…and her HEAD are in the right place…WHO CARES?!?
