04 October, 2008

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Cri

These are hearings from C-Span in 2004. Seems we could have avoided this crisis had we not listened to Democrats and had the votes. Watch the whole thing and see the democrats saying there is NO problem with either Fannie or Freddie. Check out the bonuses that leading Democrat operatives appointed to Fannie and Freddie walked away with when it was sinking. Franklin Raines is now an advisor to Obama after walking away with millions. Obama was a huge supporter of Freddie and Fannie in the Congressional Black Caucus and was singled out by the interim CEO as a big supporter.

Obama has recieved the second largest contribution from Freddie and Fannie behind Chris Dodd.

And we trust this guy to fix our economic crisis?


Clellie said...

I've been faxing and emailing Congressmen the whole week and beating my head against the wall. . . and annoying a lot of my friends by email. One wrote back:

I just understood where this is going. First the faked ‘crisis’ and the dems nationalize the mortgage industry. They wanted affordable housing.
Next on the agenda: a faked crisis in the healthcare industry. We should all have AFFORDABLE HEALTHCARE. Then they will nationalize it. This is just a precursor to the next and biggest overtake.


Here's a small positive: there most likely will be a re-inflating of the housing bubble. We ought to handle it just like Joseph handled the 7 years of plenty (although we won't have 7 years) and do all that we can to be out of consumer debt. Being out of all debt is best. This economic "crisis" is not solved. We will have a "crash" - it has only been put off a bit.

How sad. I was absolutely infuriated Friday to hear rep. after rep. say, "this bill has a lot of bad stuff in, but we gotta do something. . ." or, my favorite, "the emails and calls I'm getting from my constituents are all negative about this bill, but I know we have to pass it anyway. . ."

What a bunch of morons. I had one senator oppose it (Dole) and the other vote for it (Burr). I wrote Burr and told him he could count on me to make sure he is voted out next time around. I won't even mention my representative - he's about as far left as Obama.

Lin said...

Oh Clellie, It is so frustrating when people refuse to connect the dots. We were warned about Freddie and Fannie back in 2004 and the democrats called it politics and refused to allow oversight. And all the big players at F & F walked away with a ton of money paying only a small fine.

A friend of mine made the point that we should take their US assets in houses, cars, jewelry, etc and that this would send a message to those who think they should benefit when they walk away from failing companies for which they had responsibility. I must say I completely agree and we should sieze what is not in an offshore account and then go for those, too.

We are paying for their greed.

Lin said...

Oh, and Obama was on the front lines of this.

Richard D said...

My wife just finished reading Titled Americans. It's a non-fiction book about three sisters who married British aristocracy. One of the women was Winston Churchill's mother.

In the book it discusses how Russia turned communist. The first step on the path to communism was when the government overtook the banking industry in order to stabilize the economy.

This is very scary stuff and I don't understand why so many people in the American public are willing to follow so blindly.

simplegifts3 said...

Lin, thanks for this Youtube. I want to post it to my blog, and like clellie, I am very frustrated that more is not being made of this by McCain and Palin.