A Freddie Mac Money Trail Catches Up With McCain

BARACK HUSSEIN OBAMA WILL SUFFER FROM THE ???NOBAMA EFFECT ???!

BARACK HUSSEIN OBAMA JUST ANNOUNCED AT HIS PRESS CONFERENCE TODAY THAT HE WANTS TO "SPREAD THE WEALTH AROUND??? SO THAT EVERYBODY IN AMERICA IS ON THE SAME LEVEL PLAYING FIELD. THIS IS GOVERNMENT "DICTATING" YOUR PERSONAL FINANCES.

THIS IS DEFINED AS SOCIALISM, COMMUNISM, MARXIST, CHOOSE WHATEVER TERM YOU
WANT BUT THAT IS THE DIRECTION OBAMA IS TAKING AMERICA. HE'S SAYING THIS STRAIGHT TO YOUR FACE AND YOU GUYS ARE BUYING RIGHT INTO IT. !!

AN OLD WISE MAN ONCE SAID???IS BE CAREFUL WHAT YOU WISH FOR ...."

Mortgage backed securities are not a Bush invention. I was making hundreds of sub-prime loans to borrowers throughout the '90s. Most of these borrowers had FICO scores well over 700, and weren't the typical CRA borrower. To blame this on deregulation is akin to blaming this on our capitalistic system. Wait, that's what B.O. is running on right now as the least experienced/qualified canidate in U.S. history. Social engineering will always fail.

Comment: Comment: People on these bogs are fond of saying that the current economic meltdown was caused by Fannie Mae and Freddie Mac underwriting bad mortgages. While Fannie and Freddie obviously are guilty of writing bad mortgages, and worse, guilty of lobbying Congress to allow them to do so with impunity, their actions are just a small piece of the puzzle when it comes to determining who (or what) caused the financial crisis we face today.

In 1929 the stock market crash caused the banks to fail, because the banks were in bed with the stock market. Back then, banks owned investment houses, so when the stock market fell, the banks fell too. This triggered the Great Depression. So in 1933 the Congress wrote laws that regulated banking, making it illegal for banks to own investment companies, mortgage guaranty companies or insurance companies. The idea was to keep key industries separated by a fire wall, so that if one industry failed the whole economy would not go down in flames.

But the Republicans under Bush deregulated the banking industry. Senator Phil Gramm wrote legislation (the Gramm Rudman Act, the Gramm Leach Biley Act, etc.) that stripped away the regulations in the financial and insurance industies. He pushed them through the Republican Congress and they were signed into law by Geo. W. Bush. John McCain voted in favor. Everybody said how great it is to deregulate and create free markets.

Lehman Brothers, Bear Stearns and Merrill Lynch each gave over a million dollars to Senator Gramm's re-election campaign.

The economic collapse that happened later was a direct result of the deregulation, and here's how: the banks wrote bad mortgages, then bundled the mortgages into investment vehicles that they sold all over the world, and they even got firms like AIG to insure the investments. It was all a house of cards.

If there had been no deregulation, sure we would have had a bunch of bad mortgages, and the mortgage guaranty and real estate industries would have suffered, but there would not have been a global financial meltdown, since the problem would have been contained in one sector of the economy. You can thank Geo W. Bush, Sen. Phil Gramm and Sen John McCain for the meltdown, since they were strong proponents of deregulation.

Furthermore, although Fannie and Freddie are now holding the bulk of these bad mortgages, Fannie and Freddie did not originally write most of these mortgages. They bought them after the fact, bundled by banks/investment companies. Fannie and Freddie got screwed by the Wall Street fat cats. And so did you, if you pay taxes.

What is Phil Gramm doing today? He works as a lobbyist in Washington, trying to make it legal for the Swiss bank he represents to sell Death Bonds in the United States. Nice guy, Phil Gramm. Incidentally, John McCain has said that he wants to appoint Phil Gramm as Treasury Secretary. Some people just can't learn from their mistakes.

After 9/11, the US government started rounding up Muslims without cause and without due process of law, like we did to the Japanese Americans in WWII. The Bush administration called it's main internment camp Guantanamo Bay. While there are certainly many guilty terrorists held in Guantanamo, there are also many innocent American citizens who have been held illegally for years without even being charged with any crime. They have been tortured by our government. Some of them have died.

Recently the Supreme Court ruled against the Bush administration in the matter of Guantanamo Bay. The Supreme Court Justices were NOT on the side of the terrorists. They were on the side of the Geneva Convention, that says you can not torture POWs, and on the side of US laws that state you can not imprison a person without charging them with a crime and bringing them to trial. I'm sure that like most Americans, the Justices who voted against the illegal, immoral doings at Guantanamo didn't feel sympathy for the terrorists. They felt sympathy for the laws of AMERICA, the land of the FREE, where even rat finks get a fair trial.

Meanwhile, back in Iraq, the Bush administration is busy trying to build a smokescreen to hide the CRIMES they have committed. Those pesky weapons of mass destruction. Just think, the National Debt went up over 6 trillion dollars under Bush. More than 2 TRILLION of it went directly into the pockets of Halliburton, a corporation owned by the Cheney family. Halliburton is now a DUBAI corporation and therefore is not subject to US taxes. All that money they took out of the US Treasury is going into the coffers of a MUSLIM country.

Did you hear about how the US government is being charged millions for Halliburton deliveries of sand into Iraq from Kuwait? Sand. Like there is a shortage of sand in Iraq? Another contractor shipped sand from Idaho to Iraq at our expense. Nobel prize winning economist Joseph Stiglitz discusses these and other excesses of our current government's out of control spending in Iraq.

Your grandchildren will be working like slaves to pay off this debt, so that the Bushes and Cheneys can live the high life in Dubai.

Yeah, they're patriots, Bush&Co. They wear flag pins. And hide the money they stole from America in Dubai.

And they want me to believe that Obama is a socialist. Right.

In case you think McCain is any different than Bush, watch this:

http://www.youtube.com/watch?v=PdJUCU1UH2w

After 9/11, the US government started rounding up Muslims without cause and without due process of law, like we did to the Japanese Americans in WWII. The Bush administration called it's main internment camp Guantanamo Bay. While there are certainly many guilty terrorists held in Guantanamo, there are also many innocent American citizens who have been held illegally for years without even being charged with any crime. They have been tortured by our government. Some of them have died.

Recently the Supreme Court ruled against the Bush administration in the matter of Guantanamo Bay. The Supreme Court Justices were NOT on the side of the terrorists. They were on the side of the Geneva Convention, that says you can not torture POWs, and on the side of US laws that state you can not imprison a person without charging them with a crime and bringing them to trial. I'm sure that like most Americans, the Justices who voted against the illegal, immoral doings at Guantanamo didn't feel sympathy for the terrorists. They felt sympathy for the laws of AMERICA, the land of the FREE, where even rat finks get a fair trial.

Meanwhile, back in Iraq, the Bush administration is busy trying to build a smokescreen to hide the CRIMES they have committed. Those pesky weapons of mass destruction. Just think, the National Debt went up over 6 trillion dollars under Bush. More than 2 TRILLION of it went directly into the pockets of Halliburton, a corporation owned by the Cheney family. Halliburton is now a DUBAI corporation and therefore is not subject to US taxes. All that money they took out of the US Treasury is going into the coffers of a MUSLIM country.

Did you hear about how the US government is being charged millions for Halliburton deliveries of sand into Iraq from Kuwait? Sand. Like there is a shortage of sand in Iraq? Another contractor shipped sand from Idaho to Iraq at our expense. Nobel prize winning economist Joseph Stiglitz discusses these and other excesses of our current government's out of control spending in Iraq.

Your grandchildren will be working like slaves to pay off this debt, so that the Bushes and Cheneys can live the high life in Dubai.

Yeah, they're patriots, Bush&Co. They wear flag pins. And hide the money they stole from America in Dubai.

And they want me to believe that Obama is a socialist. Right.

In case you think McCain is any different than Bush, watch this:

http://www.youtube.com/watch?v=PdJUCU1UH2w

THE GREAT BUSH DEPRESSION
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current meltdown and the picture he paints about what will happen next
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything seen in generations
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
It is no surprise that he doesn't. The people that make up these securities use quantum mathematical 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 to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for 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 was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
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
even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that
Stand up and hold them accountable
Bush isn't on the ballot this year but his policies are
Elect Obama Biden 2008






Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

THE GREAT BUSH DEPRESSION
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
He perfectly predicted the current meltdown and the picture he paints about what will happen next
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
the credit markets are frozen and all of us may suffer beyond anything seen in generations
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
It is no surprise that he doesn't. The people that make up these securities use quantum mathematical 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 to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for 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 was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
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
even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?
Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
which means running the biggest smear campaign in history.
They think they can just tell you lies and you wont be smart enough to see through it
Let's teach him we are smarter than that
Stand up and hold them accountable
Bush isn't on the ballot this year but his policies are
Elect Obama Biden 2008






Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
http://www.youtube.com/watch?v=r36Xc0GG4iQ

The 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 by Clinton. Barney Frank and Nancy Pelosi are on the list as well.

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

Then there is the Senate Banking Committee Chairman Christopher J. Dodd who allegedly got special mortgage deals from Countrywide, who gave preferential rates to 'friends' of company's chairman.

http://www.msnbc.msn.com/id/25140560/

For an interesting article purporting to detail the House Financial Services Committee Chairs long history with Fannie Mae, See http://www.businessandmedia.org/printer/2008/20080924145932.aspx

"House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive."

The link below describes how some in Congress tried to use the original version of the bailout bill to divert money eventually recovered to groups like ACORN, a group Obama has a long association with. See:

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

And then there is House Speaker Nancy Pelosi, who allegedly has directed nearly $100,000 from her political action committee to her husband's real estate and investment firm.

http://www.washtimes.com/news/2008/oct/01/pelosis-pac-pays-bills-for-spouses-firm.

Barney Frank (Democratic) has been in Congress since 1981, and is the Chairman of the Financial Services Committee.

THE DEMOCRATIC PARTY ALSO HAS THE MAJORITY IN Washington:

[Congress] D=230, R=205

[Senate] D=55, R=45

So, can someone please tell me how the Democratic members and NObama can feed the public the untruth that this economic fiscal disaster is the fault of the Republicans?

This article represents an old cliché, "that when you live in a glass house, you can't throw stones." "Or the pot can't call, the kettle black,." "and what goes around, comes around." "The Ghost of the Keating Five Lives Again"

Businessweek.com article by A. Pressman Sept 29
??? today we???re hearing the know-nothings blame the subprime crisis on the Community Reinvestment Act ??? a 30-year-old law that was actually weakened by the Bush administration just as the worst lending wave began. This is even more ridiculous than blaming Freddie and Fannie.
The Community Reinvestment Act, passed in 1977, requires banks to lend in the low-income neighborhoods where they take deposits. Just the idea that a lending crisis created from 2004 to 2007 was caused by a 1977 law is silly. But it???s even more ridiculous when you consider that most subprime loans were made by firms that aren???t subject to the CRA ??? As former Fed Governor Ned Gramlich said in an August, 2007, speech shortly before he passed away: ???In the subprime market where we badly need supervision, a majority of loans are made with very little supervision. It is like a city with a murder law, but no cops on the beat.???
Not surprisingly given the higher degree of supervision, loans made under the CRA program were made in a more responsible way than other subprime loans ???
Finally, keep in mind that the Bush administration has been weakening CRA enforcement and the law???s reach since the day it took office. The CRA was at its strongest in the 1990s, under the Clinton administration, a period when subprime loans performed quite well. It was only after the Bush administration cut back on CRA enforcement that problems arose, a timing issue which should stop those blaming the law dead in their tracks. The Federal Reserve, too, did nothing but encourage the wild west of lending in recent years. It wasn???t until the middle of 2007 that the Fed decided it was time to crack down on abusive pratices in the subprime lending market. Oops.
Better targets for blame in government circles might be the 2000 law which ensured that credit default swaps would remain unregulated, the SEC???s puzzling 2004 decision to allow the largest brokerage firms to borrow upwards of 30 times their capital and that same agency???s failure to oversee those brokerage firms in subsequent years as many gorged on subprime debt.

McCain's loyalty is evident to his close friendship with Davis and Davis Manafort.

McCain rushed to the capital when the Bail Out Bill was created to get his share of the $700 billion. Somewhere in the fine print if we look hard enough, we'll find another sneaky payout to one of McCain's close friends.

The 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 by Clinton. Barney Frank and Nancy Pelosi are 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 the history of the House Financial Services Committee Chair's relationship with Fannie Mae, See :

"House Financial Services Committee Chair promoted GSEs while former 'spouse' was Fannie Mae executive."

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

The Bush Depression


In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, 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.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government 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.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical 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 to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for 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 didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown 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
even more destructive 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 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why isnt obama 25 points ahead

The chairman of McCains 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.

Let's teach him we are smarter than that .

31 states are voting now, dont wait
Elect Obama Biden 2008





Check out this video of sarah palins interview before you vote



http://www.youtube.com/watch?v=r36Xc0GG4i

HOW THE REAL FANNIE MAE CROOKS WILL AVOID JAIL. THE BAIL OUT CRISIS WAS CAUSED BY A HANDFUL OF CORRUPT CONGRESSMEN AND FANNIE MAE OFFICIALS WHO BOUGHT UP 7 TRILLION DOLLARS IN BAD DEBT IN ORDER TO PAD THE BOOKS AND COLLECT HUGE SALARY BONUSES FOR THEMSELVES.

HERE ARE THREE VIDEOS THOSE CORRUPT FANNIE MAE OFFICIALS & AT LEAST FIVE CORRUPT CONGRESSMEN DON'T WANT THE
AMERICAN PEOPLE TO SEE:

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


http://www.youtube.com/watch?v=_MGT_cSi7Rs


http://www.youtube.com/watch?v=q2WKtp01yOw


One Of The Crooks Is Rumored To Be The Next Attorney General Under Obama. If That Happens, NONE of them will ever be brought to justice.

http://www.wnd.com/index.php?pageId=67068

Let's not forget that Warren Buffet, who's doing so much to bolster the American economy, is planning to vote for Barack Obama. Buffet says that Obama's economic plan is good for all Americans. He's also said that McCain's economic policies would further bankrupt our country.

If you vote for McCain, you're voting for more of the same pandering to corporations that ship jobs overseas and wreak havoc on the economy.

Vote for a strong economy that's regulated by fair principals. Vote for Obama.