Freddie’s Friend

More on the voter fraud in Ohio:
http://www.foxnews.com/video2/video08.html?maven_referralObject=3128354&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/politics/

voter fraud in Ohio:
http://www.foxnews.com/video2/video08.html?maven_referralObject=3126975&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/politics/

Obama's dirtiest, darkest secret!:
http://larrysinclair.org/

O.K. , now lets follow all the other money trails , Dodd , Obama , Banks and many more ...,
But you don't check on Democrats , only Republicans.
So what does that make you , a lowly . biased wanne- be newsman..!!!
What has happened to unbiased , investigative journalism one can trust and count on.

A Proposal to Resolve the Fannie Mae and Freddie Mac Financial Fiasco

In order to solve what has been termed the financial crisis, it is necessary to identify the cause of Fannie Mae???s and Freddie Mac???s catastrophic failure.

The cause of their downfall is the partisan democrat pressure put on those companies to grant sub prime mortgages to persons who would be unable to repay those loans.

The democrat senators and representatives, who mandated that financial background checks be considered unnecessary and unwarranted, facilitated that irresponsible granting of mortgages to those unable to repay. The motive of the democrat members of Congress was strictly and blatantly partisan - to buy votes, and to maintain years of party support.

In 2005, John McCain co-authored a bill to investigate and regulate the faulty business practices of Fannie Mae and Freddie Mac, but that was opposed and defeated by the democrats in Congress.

On many occasions, President George W. Bush introduced proposals to regulate the mortgage lending companies, but those calls for regulation were opposed, obstructed, and defeated by democrats who were obsessed with the continuance of faulty lending practices.

In order to reform the financial sector, it is necessary that the sleazy politicians and top administration of those 2 mortgage companies who perpetrated fraudulent activity be publicly identified, investigated, and severely punished for their undermining the national economy.

It is only reasonable to expose the corrupt financial practices and their facilitators, and to remove them from any further activity, before any effort can be made to resurrect the American economy.
Otherwise, any attempt to do so will be useless, because the problems and perpetrators would still be present to frustrate and obstruct any meaningful remedial action.

Continued - A Proposal to Resolve the Fannie Mae and Freddie Mac Financial Fiasco

The first step toward economic recovery would be to isolate all sub prime mortgages from the assets of Fanny Mae and Freddie Mac, and to group the remaining viable ones into several stock options to be offered for sale to the public, and also as a bailout measure.

That would result in an immediate infusion of cash into the banking sector, thereby ensuring that credit could be granted to qualifying loan applicants.

Individuals or organizations who choose to buy those stock options should benefit additionally from any profits later realized by their investments.

Also, any profits resulting from the bailout option should be refunded to the INCOME TAX PAYERS only, since they would be the ones who would have financed the bailout.

Likewise, but separately, the various questionable sub prime mortgages should be bundled together into other stock options which would be structured to contain a mixture of both somewhat and less redeemable loans.

Those sub prime mortgage packages should be offered first to democrats, especially wealthy ones, who might be attracted to them by their being valued at a price of 80 cents on the dollar, based on the face value of the mortgages.
.
That would afford them the option to support what democrats viewed to be a noble cause (home ownership for the unemployed), and besides, it might enable the stock option buyers to profit by 20 percent if all of the sub prime mortgages would be somehow repaid by the homeowners.

Thus democrats, especially the likes of George Soros, Barack Obama, Ted Kennedy, Chris Dodd, Nancy Pelosi, Harry Reid, and Charlie Schumer (who supported the granting of sub prime mortgages irrespective of demonstrated ability to repay) would be able to ???put their money where their mouths are???!

Lastly, there should be a guarantee that no further sub prime mortgages be granted.
Home ownership is a GOAL for many financially responsible Americans - it is not a government sponsored RIGHT for all persons living legally and illegally in the US!

'Country First' John McCain, the former Sheriff of Capitol Hill who "suspended" his campaign to make things happen earlier this week but "unsuspended" his campaign when he left town for the campaign trail before it went down in flames, told CNN's "American Morning" that the Great Bailout should be re-framed as a "rescue."

"The first thing I'd do is say," the former Sheriff said, "let's not call it a bailout, let's call it a rescue because its a rescue. Its a rescue of Main Street America." Do tell.

Politicians of every stripe seem to think that if the people don't like something, it has the wrong name. Straight Talk Express not working because of too much double-talk? Change the name to Country First.

Country First not working when you couldn't rally your party to pass a giveaway to Wall Street, just get out of town and blame the failure on the other guy.

All of cable and the networks are rolling over for their bellies to be scratched, helping the dodge that the bailout supporters were not really asking for a bailout, only a rescue. See?

There was a great deal of hyperventilating last night on most of the talkies and news, sort of an "Oh No! What have we done!" chorus: We misnamed the rescue a bailout.

Missing from this steady stream of thumb-sucking was any mention of the substantive reasons voters were outraged. What precisely was in the bailout bill for taxpayers, homeowners, renters? Was there any real cap on the greedy executive compensation packages? Investment in job creation? Rescue for homeowners in foreclosure?

Along with the Oh No What Have We Done is the mantra of The Great Credit Freeze: small businesses won't be able to meet payroll; 401k and pension funds are cascading in value; there may not even be money in the ATM machine.

The media herd, incredulous that its losing supporters of the bailout, is re-tooling its public message in preparation for next week--if the public understands that this debacle does indeed affect you, and you need to be rescued without anything in the bailout bill for you because the mean old credit freeze is going to blow your paychecks and foreclosed house down, they will get behind it because panic and misinformation is the best medicine for out-of-control voters and taxpayers.

www.votenader.org

In 2005, for the first time in history, a serious Fannie and Freddie reform bill, S. 190, was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets. If that bill had become law, then the world today would be different. But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0



In support of S 190, also known as the Federal Housing Enterprise Regulatory Reform Act of 2005, John McCain said: "For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay."

http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16

Federal Housing Enterprise Regulatory Reform Act of 2005 would have Amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish: (1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing Enterprise Board.
Most importantly with regard to the CDS situation, S. 190 set forth operating, administrative, and regulatory provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting. Adoption of these regulatory provisions would have undoubtably affected the way CDSs were dealt with in "private" enterprises.
The bill would have also amended the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation., and transfered the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation. If this had been in place three years ago, this whole situation might have been averted.

http://www.govtrack.us/congress/bill.xpd?bill=s109-190&tab=summary

McCain warned against the imminent disaster of Fannie and Freddie years ago when he penned legislation to try to stop these predatory lending practices to unqualified borrowers. I am so tired of the lies you journalists are publishing about who is to blame here. Go watch this video before you listen to all the spin, do your research, and pass it around. http://www.youtube.com/watch?v=NU6fuFrdCJY

EH? Michael do better research or at least give Obama some equal billing.....
SUCH AS:

See what Obama Received in contributions????????????.. #2 Recipient of Campaign contributions from Fannie???

GO HERE:
FOX NEWS:
http://www.youtube.com/watch?v=YGnZMGDG4k4

McCain does not even come close to Obama???NOT EVEN CLOSE???

GO HER: What Caused this Crisis???it was Democratic polices NOT Republicans???:

http://www.youtube.com/user/TheMouthPeace

Play the following videos:

???Burning Down The House: What Caused Our Economic Crisis? V3???

and

???Burning Down The House: What Caused Our Economic Crisis? V2???

and

"Covering Your Fannie, Who Really Caused Our Economic Crisis?"

These videos speak to for themselves.
The DEMOCRATS are GUILTY in starting this sub-prime mortgage mess.

WHY ISN'T THE ABOVE BEING REPORTED ?????????????????????

McCain tried to stop it and was blocked by the DEMOCRATS


STILL DON???T BELIEVE?

GO HERE:
http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

then

GO HERE:
http://www.realestatejournal.com/buysell/mortgages/20070420-hagerty.html

then

GO HERE:
http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918
then

GO HERE:

http://www.businessandmedia.org/printer/2008/20080924145932.aspx

then

GO HERE:

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

then

GO HERE:
http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63

then

GO HERE:

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260

then

GO HERE:

http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj


???and what proof do you have? Obama???s ???good??? word?


TBH

Nevermind the staff, what about the candidate? The first link below contains a purported list of the top 25 in Congress who got contributions from the folks at Fannie and Freddie. Obama is listed third, after Dodd and Kerry, even though Obama is just a junior Senator. Obama is followed next Clinton. Barney Frank is on the list as well.

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

For an interesting article purporting to detail Barney Frank???s long history with Fannie Mae, See http://www.businessandmedia.org/printer/2008/20080924145932.aspx
Do Obama and the Democrats deserve a lift in the polls as a result of the financial and mortgage problems? The answer from history is a clear "NO." Here's the lead of a New York Times story on September 30, 1999 ???Fannie Mae Eases Credit To Aid Mortgage Lending??? [link below]. That's 1999 folks.

Here's the lead of a New York Times story on Sept. 11, 2003: "The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago." [see link below]

McCain said in co-sponsoring the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole."

What was Barney Frank and fellow Democrats saying at the time of these attempted reforms? According to reports, Representative Barney Frank(D-MA) claimed of the thrifts "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." Representative Mel Watt (D-NC) added of the reforms "I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing." [ See Community Reinvestment Act, link below w/ history]

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

http://article.nationalreview.com/print/?q=M2QwNDhkZTg2OGYzZjkzM2E2NDEwM2U5OGVkNTc0YzU=

http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260

http://online.wsj.com/article/SB122247015469280723.html?mod=googlenews_wsj

In a few weeks we will make a choice that will decide our future. I follow a economist named bob proctor who has called the top and bottom of every market crash since the 70s correctly. He perfectly predicted the current real estate market meltdown ,and the picture he paints about what will happen in the next couple years Is terrifying. He thinks it will be worse then the great depression. Banks in the US are going under one after the other. Country wide the largest morgage bank in the world Bear Stearns and Lehman brothers , and Merrill Lynch which are 3 out of the top 5 wall street firms. And now Fanny and Freddy which hold 50 percent of the home loans in the United States. The goverment took them over because they are essentially bankrupt. If they didn't the entire financially system would virtually shut down, the stock market would crash And we would suffer beyond what any of us have seen before The future of these companies will fall into the hands of our next president
Bush just like Mcain doesn't understand the economy.

That not just my opinion its his own words. Not only does he not understand how to fix it
He does not understand exactly what is broken. Its no surprise that he doesnt. The people that make up these
securities use complex math models very few people understand.
Bush and mccain both can take the credit for this mess since they helped deregulate the laws that were protecting us.


Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks take risks with all of our future.
Now Phil Graham is the head of mccains economic policy ,and mccain wants to make him the next secretary of the treasury.
No one in this country can afford for that to happen. The last time bush met with his economic advisors was in march. He either didnt realize or didnt care that anything was wrong. Phil Graham had the guts to say we are in a mental recession after he helped create the worst economy in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as bush has done mccain would be
incredibly worse because things are in much worse shape. The next president will not inherit a surplus like bush did but a tanking economy and a 11,600,000,000,000 deficit. Most of Bush created and it will take decades to pay it back.
If you do what you have always done then you will do get what you have always __________

When it comes to policy bush and mccain are the same 90 percent of the time.
So why are the polls even close then ?

The chairman of mcains campaign recently said that people don't vote on issues

they vote on a personality composite which means. He is trying to sell you personality instead of results.
He believes people will vote against there own self interests.

Lets teach him we are smarter then that .
Hold them accountable now while it will still help
Elect Obama Biden 2008

In a few weeks we will make a choice that will decide our future. I follow a economist named bob proctor who has called the top and bottom of every market crash since the 70s correctly. He perfectly predicted the current real estate market meltdown ,and the picture he paints about what will happen in the next couple years Is terrifying. He thinks it will be worse then the great depression. Banks in the US are going under one after the other. Country wide the largest morgage bank in the world Bear Stearns and Lehman brothers , and Merrill Lynch which are 3 out of the top 5 wall street firms. And now Fanny and Freddy which hold 50 percent of the home loans in the United States. The goverment took them over because they are essentially bankrupt. If they didn't the entire financially system would virtually shut down, the stock market would crash And we would suffer beyond what any of us have seen before The future of these companies will fall into the hands of our next president
Bush just like Mcain doesn't understand the economy.

That not just my opinion its his own words. Not only does he not understand how to fix it
He does not understand exactly what is broken. Its no surprise that he doesnt. The people that make up these
securities use complex math models very few people understand.
Bush and mccain both can take the credit for this mess since they helped deregulate the laws that were protecting us.


Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks take risks with all of our future.
Now Phil Graham is the head of mccains economic policy ,and mccain wants to make him the next secretary of the treasury.
No one in this country can afford for that to happen. The last time bush met with his economic advisors was in march. He either didnt realize or didnt care that anything was wrong. Phil Graham had the guts to say we are in a mental recession after he helped create the worst economy in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as bush has done mccain would be
incredibly worse because things are in much worse shape. The next president will not inherit a surplus like bush did but a tanking economy and a 11,600,000,000,000 deficit. Most of Bush created and it will take decades to pay it back.
If you do what you have always done then you will do get what you have always __________

When it comes to policy bush and mccain are the same 90 percent of the time.
So why are the polls even close then ?

The chairman of mcains campaign recently said that people don't vote on issues

they vote on a personality composite which means. He is trying to sell you personality instead of results.
He believes people will vote against there own self interests.

Lets teach him we are smarter then that .
Hold them accountable now while it will still help
Elect Obama Biden 2008

The DEMOCRAT party has demonstrated its complete disregard and disgust for the prosperity of the American population and its economy.

It has put partisan politics above the welfare of the nation by its demonstrated sinister plan to decimate the financial industry.

By infiltrating the administration of Fanny Mae and Freddie Mac with its own DEMOCRAT operatives and sympathizers, it has encouraged and even forced those 2 companies to grant mortgages to party sympathizers who could not afford to repay those loans.

It managed to achieve that end by forcing those 2 entities to avoid conducting background financial checks and assessments into the status of applicants to repay those loans. As a result, mortgages were given to the unemployed, those on welfare, and even undocumented illegal immigrants.

In effect, a significant sector of the housing industry became a deceptively subsidized housing market.

Just as the radical group ACORN has schemed to flood the welfare system with applicants in order to undermine its ability to function, so also the DEMOCRAT party has schemed to undermine the ability of the financial markets to perform their vital roles.

But the American public DOES HAVE AN OPTION TO REGISTER ITS DISGUST WITH THE DEMOCRAT party that is hell-bent on stealing this election in order for it to decimate the capitalistic system which has facilitated American prosperity throughout its history.

Only 5 percent of the mortgages which have been granted by those 2 lending companies are uncollectible. They have become the financial sector???s Achilles heel because they have been repackaged several times as stock options, thereby multiplying their accumulative detrimental effect.

The remaining 95% of those mortgages are held by families which have bothered to assess their financial positions, optimistically apply for and obtain their mortgages, and continue to repay them.

But the responsible 95% are furious that whereas they have been financially responsible, they must now also subsidize the default mortgages of the irresponsible 5%.

The DEMOCRATS have forced them into an untenable corner, but they can show their disgust for the oppressive DEMOCRATS by voting them out of office in the House and Senate, and by electing a REPUBLICAN president and VP who will reform Washington so that another disgusting massive DEMOCRAT extortion scheme can never be perpetuated on American citizens.

Hallelujah!

During the presidential debate 2 nights ago, I was astonished to notice that Barack Obama has finally ???seen the light.???

He did ???a one hundred and eighty degree,??? by acknowledging in several instances that John McCain has, in what he has either said or done, actually been RIGHT!
It???s about time that Barack Obama began to resort to speaking the truth.

Was that a demonstration that the junior senator, who has merely 143 days of experience in that capacity (less the actual number of days that he spent scheming to enter the race for the presidency), has finally realized that John McCain greatly surpasses Obama???s capability to lead the nation as its president?

What was he hoping to achieve by reversing his established daily propensity to lie?
Did he think that John McCain, in his demonstrated ability to work in a bipartisan manner, would be generous enough to appoint Barack Obama either to his cabinet, or else to some other government position?

Maybe he expected that John McCain would take pity on him, and thereby appoint him to the position of ambassador to Kenya. In that capacity, maybe Barack Obama would be instructed to donate at least $10.00 to his half brother George Obama in order to raise his standard of living. What a noble and compassionate gesture that would be!

Ask your representative a few questions: ???What should be done to limit banking institutions from investing in high-risk activities?" "What should be done to ensure banks are meeting proper capital standards given the financial quicksand that has spread as a result of the former Senator Phil Gramm's deregulation efforts?" And, "What is being done to protect small investors?"

P.S. Shareholders also have some work to do. They should have listened when Warren Buffett called securities derivatives a ???time bomb??? and ???financial weapons of mass destruction." The Wall Street crooks and unscrupulous speculators use and draining of "other people's money" out of pension funds and mutual funds should motivate painfully passive shareholders to organize to gain greater authority to control the companies they own. Where is the shareholder uprising?

www.votenader.org

The current so-called "regulators" cannot be trusted. The U.S. Government Accountability Office (GAO), ???the investigative arm of Congress??? and ???the congressional watchdog," must regularly review the bailout. We cannot trust the financial "regulators," who allowed the slide into financial disaster, to manage the bailout without outside monitoring.

It is time to put the federal cop back on the financial services beat. Strong financial regulations and independent regulators are necessary to rebuild trust in our financial institutions and to prevent further squandering of our tax dollars. The Justice Department and the SEC also need to scrutinize the expanding mess with an eye to uncovering corporate crime and misdeeds. Major news outlets are reporting that the FBI is investigating American International Group, Fannie Mae, Freddie Mac, and Lehman Brothers.

Cap executive compensation and stop giving the Wall Street gamblers golden parachutes. The CEOs who have created the financial disaster should not be allowed to leave with millions in hand when so many pensioners and small shareholders are seeing their investments evaporate. The taxpayers are bailing out Wall Street so that the financial system continues to function, not to further enrich the CEOs and executives who created this mess.

Congress should pass the Financial Consumers??? Information and Representation Act, to permit citizens to form a federally-chartered nonprofit membership organization to strengthen consumer representation in government proceedings that concern the financial services industry. As the savings and loan disasters of the 1980s and the Wall Street debacles of the last few years have demonstrated, there is an overriding need for consumers and taxpayers to have the organized means to enhance their influence on financial issues.

The repeal of the Glass-Steagall Act, separating traditional banks from investment banks, helped pave the way for the current disaster. It is time to re-regulate the financial sector. The current crisis is also leading to even further conglomeration and concentration in the financial sector. We must revive and apply antitrust principles, so that banking consumers can benefit from competition and taxpayers are less vulnerable to too-big-to-fail institutions, which merge with each other to further concentration.

Congress should impose a securities and derivatives speculation tax. A tax on financial trading would slow down the churning of stocks and financial instruments, and could raise substantial monies to pay for the bailout.

Regulators should impose greater margin requirements, making speculators use more of their own money and diminishing reckless casino capitalism.

Congress needs to show some backbone before the federal government pours more money on the financial bonfire started by the arsonists on Wall Street.

Congress should hold a series of hearings and invite broad public comment on any proposed bailout. Congress is supposed to be a co-equal branch of our federal government. It needs to stop the stampede to give Bush a $700 billion check. Public hearings should be held to determine what alternatives might exist to the four-page proposal advanced by Treasury Secretary Henry M. Paulson.

Whatever is ultimately done, the bailout plan should not be insulated from judicial review. Remember there is a third co-equal branch of government: the judiciary. The judiciary does not need to review each buy-and-sell decision by the Treasury Department, but there should be some boundaries established to the Treasury Department???s discretion. Judicial review is needed to ensure that unbridled discretion is not abused.

Sunlight is a good disinfectant. The bailout that is ultimately approved must provide for full and timely disclosure of all bailout details. This will discourage conflicts of interest and limit the potential of sweetheart deals.

Firms that accept government bailout monies must agree to disclose their transactions and be more honest in their accounting. They should agree to end off-the-books accounting maneuvers, for example.

Taxpayers must be protected by having a stake in any recovery. The bailout plan should provide opportunities for taxpayers to recoup funds that are made available to problem financial institutions, or to benefit from the financial institutions??? rising stock price and increased profitability after being bailed out.

www.votenader.org