Sorry to say that I am not surprised. I voted for Obama and hope he can implement change and transparency, but so far all I see are the deck chairs being rearranged on a very leaky ship. Frank is a bad as any Executive at the failed financial institutions, but so far has gotten a free pass. Frank should resign, can Congressmen be impeached or recalled?
Obama, you're breaking my heart
you're shaking my confidence daily.
Obama, I'm down on my knees
I'm begging you please to come home.
Making love in the afternoon with Euro Socialists
Up in that big room
I get up to wash my face
when I come back to see
der fuhrer's taken my place.
Obama, you're breaking my heart
you're shaking my confidence daily.
They are all crooks.
All who have sold us out need to be,
VOTED OUT!
"I predict future happiness for Americans, if they can prevent the government from wasting the
labors of the people under the pretense of taking care of them."
"My reading of history convinces me that most bad government results from too much government."
~Thomas Jefferson
Sun, 04/05/2009 - 12:08pm — L. Stevens (not verified)
It is disturbibg to see Barbey Frank on TV, still giving orders that have already destroyed our economy. Frank, Dodd, Cox, Pelosi, and their followers have pushed their socialistic views on us for years. Too many in our congress have been there much too long, often using their power to feather their own nests, financially and politically. They should be impeached, fired, jailed, whatever it takes. They are traitors. It seems that many of them do not pay taxes. This is easy when the government runs the IRS! We need a third party of grass roots peope who live in the real world, if is not already too late. It feels as if America has been dealt a blow by its own government. We have been betrayed.
I think we as a nation need to come together and let all of the congressmen, not just the liberals know that we are watching what is going on with our money.....
Sun, 04/05/2009 - 5:41pm — James K. Boomer (not verified)
The Politics of Ducking Responsibility
(By James K. Boomer, February 18, 2009)
Sadly, Democrats, including President Obama, continue claiming that virtually everything wrong in our country, or the world, is a result of “the last eight years of failed policies of the Bush Administration.” Indeed, Mr. Obama has been among the most vocal in blaming the Bush Administration for the collapse of the economy, when the facts do not support this contention.
Interestingly, there appears to be no evidence that, as a Senator, Mr. Obama did anything to help Republicans get legislation passed to regulate Fannie Mae and Freddie Mac. Nor, has he stated the facts on the causes of the economy collapse. In this way, the President is protecting fellow Democrats, who had a major hand in the recent economy collapse.
Democrat political venom prevailed at a September 29, 2008 House hearing on the economy collapse. Rep. Pelosi (D-CA), in an arm-waving tirade, said the main culprits were the right wing ideology and loose regulation policies of the Bush Administration over the last eight years. With flawless, but clearly transparent theatrics, she expressed wonderment at how this could happen. Then, she piled accolades on Rep. Frank (D-MA), clearly a main culprit in this debacle, for his “leadership.”
Two months earlier, in July 2008, Sen. Dodd, Chairman of the Committee on Banking, Housing and Urban Affairs, said that Fannie Mae and Freddie Mac were in good shape. And on April 6, 2005 and until 2008, Sen. Schumer (D-NY) claimed that everything was fine with Fannie Mae and Freddie Mac and that Americans were the best housed people.
The fact is that from 2000 to 2008, Democrats ignored warnings about Fannie Mae and Freddie Mac regulatory deficiencies and attendant threats to the whole economic system. And, they blocked every Republican attempt to tighten regulation of Fannie Mae and Freddie Mac.
Is it possible that conflicts of interest affected the lack of action to regulate Fannie Mae and Freddie Mac? For example, it is public knowledge that between 2005 and 2008, Fannie Mae and Freddie Mac heavily lobbied Congress and supported key Congressional members’ political campaigns to the tune of $4.3 million to gain favor. Furthermore, the top three recipients of campaign contributions from Fannie Mae and Freddie Mac in the 1989-2008 timeframe were Sen. Dodd--$133,900, Sen. John Kerry--$111,000, and Sen. Obama--$105,849. Additionally, is it a stretch to claim that there were no conflicts of interest, when it is well known that Rep. Frank had a relationship with Fannie Mae executive, Mr. Moses during the time accounting irregularities were being identified?
In spite of their aggressive propaganda campaign, Democrats cannot dodge the facts:
· April 2001: With his fiscal year 2002 budget submittal, a concerned President Bush warned that failure of either or both Fannie Mae and Freddie Mac would have a serious impact on the nation’s economy.
· 2002-2003: Rep. Baker (R-LA), Chairman of the House Committee responsible for GSE oversight, was unable to get sufficient support to introduce legislation to tighten the regulation of Fannie Mae and Freddie Mac.
· 2003: The Bush Administration upgraded the regulatory status of Fannie Mae and Freddie Mac to a systemic risk.
· September 10, 2003: Treasury Secretary Snow testified before Congress that a strong regulatory agency is required to oversee Fannie Mae and Freddie Mac.
· September 10, 2003: In response to Secretary Snow, Rep. Frank (D-MA) said Fannie Mae and Freddie Mac are in good shape, and should be encouraged to make more loans.
· Late 2004: At a heated hearing, Democrat Congressional Representatives took OFHEO to task about its report on Fannie Mae and Freddie Mac, claiming that everything was O.K. with these two GSEs (see http://www.youtube.com/watch?v=_MGT_cSi7Rs).
· February 7, 2005: Following exposure of major Fannie Mae and Freddie Mac accounting irregularities, Federal Reserve Chairman Alan Greenspan told Congress that allowing these major GSEs to grow, places the total financial system of the future at a substantial risk.
· April 6, 2005: In testimony before Congress, Alan Greenspan outlined the risk of financial crisis if Congress failed to effectively regulate Fannie Mae and Freddie Mac.
· April 6, 2005: In spite of Dr. Greenspan’s warnings, Sen. Schumer (D-NY) said Fannie Mae and Freddie Mac had done a great job in making Americans the best- housed people in the world.
· July 28, 2005: A Bill to regulate Fannie Mae and Freddie Mac, introduced by Sen. Hagel (R-NE), was released from committee to the Senate. All Democrats on the Committee voted against the bill, therefore it was not introduced for floor vote because there were not enough votes for cloture.
· May 25, 2006: Sen. McCain (R-AZ) expressed his concern about the magnitude of Fannie Mae and Freddie Mac, and their regulatory structure and said these GSEs need to be reformed without delay.
· October 2008: Congress grilled Dr. Greenspan, essentially blaming him for his lack of foresight regarding the economic collapse. Dr. Greenspan’s response was puzzling, as he said he was sorry and erred in judgment on regulatory matters, even though in 2004 and 2005, as noted above, he warned of the need for regulatory action.
The bottom line here is that Congress, in its usual refusal to accept accountability, was pointing fingers at others.
Republicans are at fault for not pressing more aggressively for regulatory reform of Fannie Mae and Freddie Mac, in the 2000-2008 timeframe
And, it is unconscionable that President Obama, who has claimed that bi-partisanship is a thing of the past under his Change leadership, has not voiced outrage at Democrats’ irresponsibility, and demanded that at least Rep. Pelosi, Rep. Frank, Sen. Dodd, and Sen. Schumer be called to account for their egregious errors in judgment.
Additionally, it is unconscionable that President Obama is apparently comfortable that these very people are now leading the effort to fix the problem they so arrogantly helped let happen. And, it is also unconscionable that he would be comfortable with Rep. Pelosi as one of the leading architects of the American Recovery and Reinvestment Act of 2009.
Finally, in addition to looking for a “Bush smoking gun,” the likes of Sen. Leahy and Rep. Waxman should look closer to home at their fellow Democrats who were the principal culprits who denied, in the face of convincing evidence and facts, that there were major Fannie Mae and Freddie Mac problems.
In a related matter, Fox News recently reported that AIG donated nearly $1 billion to politicians during the 2008 election.
For the life of me I cannot figure out why these two congressmen are still in Washington, D.C., without an investigation looking into just how involved they were in the downfall of the housing market. No matter how much they deny that they were at fault, I don't see how long the American people will stand for their part in it. I thought Obama promised a transparent administration and even though they were involved in it before he took office, nevertheless, this cries out for an investigation and they should be held responsible for their actions in the past.
If the news media was doing the job that the Founding Fathers intended by wording of the Constitution, We the People would be doing something about it every 2 years, intelligently voting the crooks out and voting in new representatives. Then they could be prosecuted. But as things develop, too many politicians are in the CYA mode to insure their next successful campaign and power status.
Being a representative in government was never intended to be a career, but a service that we share. It's time for term limits.
Pelosi will NEVER allow oversight. If she does, the House flips & Pelosi looses her status & power.
Reid could also require an investigation, but the the same would happen in the Senate.
Absolute power corrupts absolutely. The Democrats are drunk with power and will do anything to keep it.
Take time to read & study the Founding documents, read your history and open your mind to reason. You have a job that requires preparation, as in any other. Learn the facts before you vote or stay home. Our government electoral process isn't a version of American Idol (who looks/sounds the best) or sporting event (my team, good or bad). It is a quality of life decision that affects everyone.
I agree with you whole heartedly but it's a Democrat and Republican problem. Both parties love the power and will do and say anything to keep it. The politicians begin their career as middle income "Joes" and retire millionaires. Term Limits !
House Banking and Financial Services
House Banking and Financial Services, Subcommittee on Capital Markets,
Securities and Government Sponsored Enterprises -- Hearings Held
Maybe we can ask Rep. Richard Baker [R-LA], or one of the 14 cosponsors, why this legislation failed in committee.
In any case, this legislation was discovered following a shallow research effort. There may be more like it, hidden in the depths of the federal government
-- I suddenly feel nostalgia for "The Twilight Zone", anyone else?
A recent poll showed congress had a 12%-14% approval rating. To me that means that 14 out of every 100 people surveyed thinks congress is doing a great job. It follows that the other 86 people in the survey group think congress is doing a lousey job. So, why do they keep going back to Washington time after time? Consider this: "Congress" is a generic term. It's like a voter saying, "Those bums in congress are nothing but a bunch of crooks and liers and they should all be voted out of office next November." However, when you get specific and ask about their congressman, the response is often very different. "Oh, you mean congressman Smith, yes I've known him for years....great job. You know he got us a new park and a new cultural center and a brand new bridge to nowhere." Little wonder congressman Smith keep going back to Washington time after time. I have met the enemy, and he is me!
A government big enough to give you everything you want
is strong enough to take everything you have.
Thomas Jefferson
If one side is warning of collapse and its obvious either the other side are complete idiots or its all part of their plan.
A collapsing economy and they pin it on Bush, because it was on his watch. Anything bad while Obama is in and its all because of the past Bush years.
Unfortunately, propaganda and a small group of people can actually control gov't, because most people don't look into things for themselves.
Ask yourself this question:
If one wanted to to destroy the USA economically and send it into a tailspin, so that socialism can be ushered in, what must one do?
The answer is what has been done to cause the collapse and what Obama has done with spending as president. I told my friends before he won he would legalize the 12 million illegals. They thought I was crazy and I know many voted for Obama. Now many are out of jobs, when they thought they were voting their paycheck. Well, they were. They were voting them away.
The reason I think the Dems win with socialist views is because it is human nature to live for the day and consider the future much less. Over time this will lead a free country into socialism, because anger against the rich and entitlement can be used to make people welcome socialism. Since most people forget that it is capitalism that allowed them to even live the life they live anyway, college kids have no clue whatsoever except for the garbage they hear at school and those on welfare don't even realize they are enslaved by the system and could live a much better life independent of the gov't and our aging population doesn't seem to have the family to take care of them like years ago we may have reached the point in our nation where people greet socialism with open arms.
The only way out is a revolution, but that is not going to happen because we will never pledge to each other our lives, our Fortunes, & our sacred Honor.
After the accounting scandals exposed in 2003, they held hearings in congress regarding Fannie And Freddie, a few GOP senators tried to get senate bill S190 passed in 2005. the Democrats stood united to protect Fannie and Freddie from such legislation and reform.
Ironically, the one person who called for reforms every year citing repercussions to our entire finacial systme is the one now beiong Blamed. George Bush.
___________________________________________________________________________
** 2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
____________________________________________________________________________
90% of all sub Prime loans fannie and Freddie held in their portfolios were aquired between 2005 and 2007. 60% of all sub prime mortgages they held as of July 2008 with credit scores below 620 were aquired betaween 2005 and 2007.
This means after the 2005 bill to reform and regulate fannie and freddie was killed by the Democrats united opposition they went on a campaign to aquire these mortgages, they created the market for these types of mortgages. democrats say its the banks fault, walls streets fault. when there is a demand for a product it will be met with those who can capitalize on it, The changes to mortgage requirements in the 90's allowed the market to fill this new market created by GSE's
You will never hear a single democrats mention Fannie and Freddie when discussing the cause of this crisis. they are still protecting them.
I am astounded at the fact that there is not one big newspaper that is willing to print this stuff. You know, I was talking
to a liberal friend and in that conversation I realized that these libs have blinders on big time and have absolutely no desire to gather any information other than the drive by and as long as the drive by will not print stories such as Barney
and his involvement with Fannie and Freddie, we will continue to live with a bunch of uninformed idiots. And the sad
thing is these creeps that are breaking the law and hiding behind the law will never go to jail where they belong.
My wish is that the other half of America wakes up before its to late
I had some idea that the failure of Fannie and Freddie was at the root of this financial crisis and you have proved me right. I am so glad that you are taking the steps you are and I sincerely hope that there will be a point in time when "we the people" can hold those responsible accountable and that there will be the proper punishment for them.
We had been lulled into a sense of security this past decade and we have taken our eyes off the ball, so to speak. Also the media has failed to do its job which is to investigate and report on failures of our government to do its job. I just hope we all take this as a wake up call and we all take responsiblity for keeping an eye on our Government and let them know when they are wrong. Believe me, they do take notice when they are bombarded by correspondence from their constituents. Call, write, email or visit them and let them know you are watching.
You people who complain about biased reporting from Judicial Watch need to consider the facts. This President is about a One World system. Look at the Presidents advisors. Just read and be practical. It's a different world now. Stop dreaming about days gone by. Even if Obama is voted out and congress changes there will be hell to pay to the powers in control of it all. Obama has read Post American World. He wants a place in it. We have no idea what lies ahead in this process. Pres. Obama said it would be a long hard struggle for change. Bill Ayers wrote the same thing in Prairie Fire. These men are possessed by powers unseen.
It's over kids the "fat lady" is singing.
Btw- I have been nauseous from the day then Senator Obama came on the seen. It's simply a "sign of the times."
I would like Obama to prove me wrong but that's not reality. He's a puppet.
Two words.........Term Limits! Congress & Senate.......President Obama is doing what he promised. If you voted for him, you're getting what you voted for. Clean up the Congress and Senate and the "Change" will happen.
Every single member on the Banking Committee that opposed reform of Fannie Mae and Freddie Mac should be prosecuted for treason.
We need to hold our representatives aaccountable for their actions and they should not be immune from prosecution free to loot the treasury at will.Dodd and Frank should be the first to go to prison.
The recent bail outs are nothing but Grand Theft of the Treasury by a bunch of corrupt congressional members and senator that voted yes without reading the damn bill.
Vote all the bums out that voted for these unconstitutional bailouts.
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Comments
Sorry to say that I am not
Sorry to say that I am not surprised. I voted for Obama and hope he can implement change and transparency, but so far all I see are the deck chairs being rearranged on a very leaky ship. Frank is a bad as any Executive at the failed financial institutions, but so far has gotten a free pass. Frank should resign, can Congressmen be impeached or recalled?
Investigation of Congress
Thank God you are looking at this! And please look at all of it.
Republicans
I am an independent so I like to hear from and about all sides of the political spectrum. My questions to Judicial Watch:
Why does your site always focus on Democrats? Are you saying that Democrats are the only ones causing problems?
I am so tired of the many information sources that lean so far to the right/left.
After today, I believe it is time to stop reading Judicial Watch's findings. Why? Because I can't trust a source that leans so far to one side.
I guess you did not see the
I guess you did not see the part that pointed out both Republican and Democrat officials.
If you really think that's
If you really think that's true, then I urge you to look at J.W.'s "Ten most corrupt politicians" list.
get them
These guys must be held accountable!
Who can we call..I want a TRIAL RIGHT NOW!
shaking my confidence
Obama, you're breaking my heart
you're shaking my confidence daily.
Obama, I'm down on my knees
I'm begging you please to come home.
Making love in the afternoon with Euro Socialists
Up in that big room
I get up to wash my face
when I come back to see
der fuhrer's taken my place.
Obama, you're breaking my heart
you're shaking my confidence daily.
They are all crooks.
All who have sold us out need to be,
VOTED OUT!
"I predict future happiness for Americans, if they can prevent the government from wasting the
labors of the people under the pretense of taking care of them."
"My reading of history convinces me that most bad government results from too much government."
~Thomas Jefferson
Barney Frank and all who followed his lead
It is disturbibg to see Barbey Frank on TV, still giving orders that have already destroyed our economy. Frank, Dodd, Cox, Pelosi, and their followers have pushed their socialistic views on us for years. Too many in our congress have been there much too long, often using their power to feather their own nests, financially and politically. They should be impeached, fired, jailed, whatever it takes. They are traitors. It seems that many of them do not pay taxes. This is easy when the government runs the IRS! We need a third party of grass roots peope who live in the real world, if is not already too late. It feels as if America has been dealt a blow by its own government. We have been betrayed.
Fannie Mae & Freddie Mac
I think we as a nation need to come together and let all of the congressmen, not just the liberals know that we are watching what is going on with our money.....
Congressional Culpability
The Politics of Ducking Responsibility
(By James K. Boomer, February 18, 2009)
Sadly, Democrats, including President Obama, continue claiming that virtually everything wrong in our country, or the world, is a result of “the last eight years of failed policies of the Bush Administration.” Indeed, Mr. Obama has been among the most vocal in blaming the Bush Administration for the collapse of the economy, when the facts do not support this contention.
Interestingly, there appears to be no evidence that, as a Senator, Mr. Obama did anything to help Republicans get legislation passed to regulate Fannie Mae and Freddie Mac. Nor, has he stated the facts on the causes of the economy collapse. In this way, the President is protecting fellow Democrats, who had a major hand in the recent economy collapse.
Democrat political venom prevailed at a September 29, 2008 House hearing on the economy collapse. Rep. Pelosi (D-CA), in an arm-waving tirade, said the main culprits were the right wing ideology and loose regulation policies of the Bush Administration over the last eight years. With flawless, but clearly transparent theatrics, she expressed wonderment at how this could happen. Then, she piled accolades on Rep. Frank (D-MA), clearly a main culprit in this debacle, for his “leadership.”
Is it actually possible that Rep. Pelosi didn’t know the facts (please see http://www.youtube.com/watch?v=hxMInSfanqg&feature=related)?
Two months earlier, in July 2008, Sen. Dodd, Chairman of the Committee on Banking, Housing and Urban Affairs, said that Fannie Mae and Freddie Mac were in good shape. And on April 6, 2005 and until 2008, Sen. Schumer (D-NY) claimed that everything was fine with Fannie Mae and Freddie Mac and that Americans were the best housed people.
The fact is that from 2000 to 2008, Democrats ignored warnings about Fannie Mae and Freddie Mac regulatory deficiencies and attendant threats to the whole economic system. And, they blocked every Republican attempt to tighten regulation of Fannie Mae and Freddie Mac.
Is it possible that conflicts of interest affected the lack of action to regulate Fannie Mae and Freddie Mac? For example, it is public knowledge that between 2005 and 2008, Fannie Mae and Freddie Mac heavily lobbied Congress and supported key Congressional members’ political campaigns to the tune of $4.3 million to gain favor. Furthermore, the top three recipients of campaign contributions from Fannie Mae and Freddie Mac in the 1989-2008 timeframe were Sen. Dodd--$133,900, Sen. John Kerry--$111,000, and Sen. Obama--$105,849. Additionally, is it a stretch to claim that there were no conflicts of interest, when it is well known that Rep. Frank had a relationship with Fannie Mae executive, Mr. Moses during the time accounting irregularities were being identified?
In spite of their aggressive propaganda campaign, Democrats cannot dodge the facts:
· April 2001: With his fiscal year 2002 budget submittal, a concerned President Bush warned that failure of either or both Fannie Mae and Freddie Mac would have a serious impact on the nation’s economy.
· 2002-2003: Rep. Baker (R-LA), Chairman of the House Committee responsible for GSE oversight, was unable to get sufficient support to introduce legislation to tighten the regulation of Fannie Mae and Freddie Mac.
· 2003: The Bush Administration upgraded the regulatory status of Fannie Mae and Freddie Mac to a systemic risk.
· June 2003: The Office of Federal Housing Enterprise Oversight (OFHEO) discovered major Freddie Mac accounting irregularities (see http://www.aei.org/publications/pubID.22514/pub_detail.asp).
· September 10, 2003: Treasury Secretary Snow testified before Congress that a strong regulatory agency is required to oversee Fannie Mae and Freddie Mac.
· September 10, 2003: In response to Secretary Snow, Rep. Frank (D-MA) said Fannie Mae and Freddie Mac are in good shape, and should be encouraged to make more loans.
· Late 2004: At a heated hearing, Democrat Congressional Representatives took OFHEO to task about its report on Fannie Mae and Freddie Mac, claiming that everything was O.K. with these two GSEs (see http://www.youtube.com/watch?v=_MGT_cSi7Rs).
· February 7, 2005: Following exposure of major Fannie Mae and Freddie Mac accounting irregularities, Federal Reserve Chairman Alan Greenspan told Congress that allowing these major GSEs to grow, places the total financial system of the future at a substantial risk.
· April 6, 2005: In testimony before Congress, Alan Greenspan outlined the risk of financial crisis if Congress failed to effectively regulate Fannie Mae and Freddie Mac.
· April 6, 2005: In spite of Dr. Greenspan’s warnings, Sen. Schumer (D-NY) said Fannie Mae and Freddie Mac had done a great job in making Americans the best- housed people in the world.
· July 28, 2005: A Bill to regulate Fannie Mae and Freddie Mac, introduced by Sen. Hagel (R-NE), was released from committee to the Senate. All Democrats on the Committee voted against the bill, therefore it was not introduced for floor vote because there were not enough votes for cloture.
· May 25, 2006: Sen. McCain (R-AZ) expressed his concern about the magnitude of Fannie Mae and Freddie Mac, and their regulatory structure and said these GSEs need to be reformed without delay.
· October 2008: Congress grilled Dr. Greenspan, essentially blaming him for his lack of foresight regarding the economic collapse. Dr. Greenspan’s response was puzzling, as he said he was sorry and erred in judgment on regulatory matters, even though in 2004 and 2005, as noted above, he warned of the need for regulatory action.
The bottom line here is that Congress, in its usual refusal to accept accountability, was pointing fingers at others.
The following videos leave no doubt about who is culpable for the economy collapse: http://www.youtube.com/watch?v=hN31-nKndg8, and http://www.youtube.com/watch?v=cMnSp4qEXNM.
Republicans are at fault for not pressing more aggressively for regulatory reform of Fannie Mae and Freddie Mac, in the 2000-2008 timeframe
And, it is unconscionable that President Obama, who has claimed that bi-partisanship is a thing of the past under his Change leadership, has not voiced outrage at Democrats’ irresponsibility, and demanded that at least Rep. Pelosi, Rep. Frank, Sen. Dodd, and Sen. Schumer be called to account for their egregious errors in judgment.
Additionally, it is unconscionable that President Obama is apparently comfortable that these very people are now leading the effort to fix the problem they so arrogantly helped let happen. And, it is also unconscionable that he would be comfortable with Rep. Pelosi as one of the leading architects of the American Recovery and Reinvestment Act of 2009.
Finally, in addition to looking for a “Bush smoking gun,” the likes of Sen. Leahy and Rep. Waxman should look closer to home at their fellow Democrats who were the principal culprits who denied, in the face of convincing evidence and facts, that there were major Fannie Mae and Freddie Mac problems.
In a related matter, Fox News recently reported that AIG donated nearly $1 billion to politicians during the 2008 election.
Barney Frank and Chris Dodd and Freddie Mac and Fannie Mae
For the life of me I cannot figure out why these two congressmen are still in Washington, D.C., without an investigation looking into just how involved they were in the downfall of the housing market. No matter how much they deny that they were at fault, I don't see how long the American people will stand for their part in it. I thought Obama promised a transparent administration and even though they were involved in it before he took office, nevertheless, this cries out for an investigation and they should be held responsible for their actions in the past.
I never realized
I never realized that "James B. Lockhart, to U.S. Senators Elizabeth Dole, Chuck Hagel, Mel Martinez and John Sununu" were liberal democrats.
I guess you learn something new every day.
They're not "liberal
They're not "liberal Democrats" they're Republicans!
Why isn't anything being done?
One word answer- incumbency
If the news media was doing the job that the Founding Fathers intended by wording of the Constitution, We the People would be doing something about it every 2 years, intelligently voting the crooks out and voting in new representatives. Then they could be prosecuted. But as things develop, too many politicians are in the CYA mode to insure their next successful campaign and power status.
Being a representative in government was never intended to be a career, but a service that we share. It's time for term limits.
Pelosi will NEVER allow oversight. If she does, the House flips & Pelosi looses her status & power.
Reid could also require an investigation, but the the same would happen in the Senate.
Absolute power corrupts absolutely. The Democrats are drunk with power and will do anything to keep it.
Take time to read & study the Founding documents, read your history and open your mind to reason. You have a job that requires preparation, as in any other. Learn the facts before you vote or stay home. Our government electoral process isn't a version of American Idol (who looks/sounds the best) or sporting event (my team, good or bad). It is a quality of life decision that affects everyone.
I Concur....But
I agree with you whole heartedly but it's a Democrat and Republican problem. Both parties love the power and will do and say anything to keep it. The politicians begin their career as middle income "Joes" and retire millionaires. Term Limits !
H.R.3703
Housing Finance Regulatory Improvement Act
http://www.govtrack.us/congress/bill.xpd?bill=h106-3703
Introduced: Feb 29, 2000
Status: Introduced, referred, [died].
Referred to the following committees:
House Banking and Financial Services
House Banking and Financial Services, Subcommittee on Capital Markets,
Securities and Government Sponsored Enterprises -- Hearings Held
Maybe we can ask Rep. Richard Baker [R-LA], or one of the 14 cosponsors, why this legislation failed in committee.
In any case, this legislation was discovered following a shallow research effort. There may be more like it, hidden in the depths of the federal government
-- I suddenly feel nostalgia for "The Twilight Zone", anyone else?
Good luck to the Citizen investigators.
Barney Frank
Thank you for your research regarding this clown. The Boston Globe wrote an excellent piece on Frank's involvement:
http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2008/0...
Bawny Fwank is a national embarrassment and would be a joke if he didn't have the power he throws around. The people of Massachusetts can do better!
TheCapitalist
http://thefreedompost.blogspot.com
A recent poll showed
A recent poll showed congress had a 12%-14% approval rating. To me that means that 14 out of every 100 people surveyed thinks congress is doing a great job. It follows that the other 86 people in the survey group think congress is doing a lousey job. So, why do they keep going back to Washington time after time? Consider this: "Congress" is a generic term. It's like a voter saying, "Those bums in congress are nothing but a bunch of crooks and liers and they should all be voted out of office next November." However, when you get specific and ask about their congressman, the response is often very different. "Oh, you mean congressman Smith, yes I've known him for years....great job. You know he got us a new park and a new cultural center and a brand new bridge to nowhere." Little wonder congressman Smith keep going back to Washington time after time. I have met the enemy, and he is me!
A government big enough to give you everything you want
is strong enough to take everything you have.
Thomas Jefferson
It seems planned to me
If one side is warning of collapse and its obvious either the other side are complete idiots or its all part of their plan.
A collapsing economy and they pin it on Bush, because it was on his watch. Anything bad while Obama is in and its all because of the past Bush years.
Unfortunately, propaganda and a small group of people can actually control gov't, because most people don't look into things for themselves.
Ask yourself this question:
If one wanted to to destroy the USA economically and send it into a tailspin, so that socialism can be ushered in, what must one do?
The answer is what has been done to cause the collapse and what Obama has done with spending as president. I told my friends before he won he would legalize the 12 million illegals. They thought I was crazy and I know many voted for Obama. Now many are out of jobs, when they thought they were voting their paycheck. Well, they were. They were voting them away.
The reason I think the Dems win with socialist views is because it is human nature to live for the day and consider the future much less. Over time this will lead a free country into socialism, because anger against the rich and entitlement can be used to make people welcome socialism. Since most people forget that it is capitalism that allowed them to even live the life they live anyway, college kids have no clue whatsoever except for the garbage they hear at school and those on welfare don't even realize they are enslaved by the system and could live a much better life independent of the gov't and our aging population doesn't seem to have the family to take care of them like years ago we may have reached the point in our nation where people greet socialism with open arms.
The only way out is a revolution, but that is not going to happen because we will never pledge to each other our lives, our Fortunes, & our sacred Honor.
So this is what we get.
The history of this crisis
After the accounting scandals exposed in 2003, they held hearings in congress regarding Fannie And Freddie, a few GOP senators tried to get senate bill S190 passed in 2005. the Democrats stood united to protect Fannie and Freddie from such legislation and reform.
Ironically, the one person who called for reforms every year citing repercussions to our entire finacial systme is the one now beiong Blamed. George Bush.
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** 2001
April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."
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90% of all sub Prime loans fannie and Freddie held in their portfolios were aquired between 2005 and 2007. 60% of all sub prime mortgages they held as of July 2008 with credit scores below 620 were aquired betaween 2005 and 2007.
This means after the 2005 bill to reform and regulate fannie and freddie was killed by the Democrats united opposition they went on a campaign to aquire these mortgages, they created the market for these types of mortgages. democrats say its the banks fault, walls streets fault. when there is a demand for a product it will be met with those who can capitalize on it, The changes to mortgage requirements in the 90's allowed the market to fill this new market created by GSE's
You will never hear a single democrats mention Fannie and Freddie when discussing the cause of this crisis. they are still protecting them.
fannie, freddie, and Frank
I am astounded at the fact that there is not one big newspaper that is willing to print this stuff. You know, I was talking
to a liberal friend and in that conversation I realized that these libs have blinders on big time and have absolutely no desire to gather any information other than the drive by and as long as the drive by will not print stories such as Barney
and his involvement with Fannie and Freddie, we will continue to live with a bunch of uninformed idiots. And the sad
thing is these creeps that are breaking the law and hiding behind the law will never go to jail where they belong.
My wish is that the other half of America wakes up before its to late
financial meltdown
I had some idea that the failure of Fannie and Freddie was at the root of this financial crisis and you have proved me right. I am so glad that you are taking the steps you are and I sincerely hope that there will be a point in time when "we the people" can hold those responsible accountable and that there will be the proper punishment for them.
We had been lulled into a sense of security this past decade and we have taken our eyes off the ball, so to speak. Also the media has failed to do its job which is to investigate and report on failures of our government to do its job. I just hope we all take this as a wake up call and we all take responsiblity for keeping an eye on our Government and let them know when they are wrong. Believe me, they do take notice when they are bombarded by correspondence from their constituents. Call, write, email or visit them and let them know you are watching.
President O. and his advisors are Fed. Res. One World
You people who complain about biased reporting from Judicial Watch need to consider the facts. This President is about a One World system. Look at the Presidents advisors. Just read and be practical. It's a different world now. Stop dreaming about days gone by. Even if Obama is voted out and congress changes there will be hell to pay to the powers in control of it all. Obama has read Post American World. He wants a place in it. We have no idea what lies ahead in this process. Pres. Obama said it would be a long hard struggle for change. Bill Ayers wrote the same thing in Prairie Fire. These men are possessed by powers unseen.
It's over kids the "fat lady" is singing.
Btw- I have been nauseous from the day then Senator Obama came on the seen. It's simply a "sign of the times."
I would like Obama to prove me wrong but that's not reality. He's a puppet.
Fannie, Freddie, May I....
Two words.........Term Limits! Congress & Senate.......President Obama is doing what he promised. If you voted for him, you're getting what you voted for. Clean up the Congress and Senate and the "Change" will happen.
Prosecute the Crooks
Every single member on the Banking Committee that opposed reform of Fannie Mae and Freddie Mac should be prosecuted for treason.
We need to hold our representatives aaccountable for their actions and they should not be immune from prosecution free to loot the treasury at will.Dodd and Frank should be the first to go to prison.
The recent bail outs are nothing but Grand Theft of the Treasury by a bunch of corrupt congressional members and senator that voted yes without reading the damn bill.
Vote all the bums out that voted for these unconstitutional bailouts.