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POPSFannie & Freddie NOT included in Obama's Financial Regulations In analyzing the mortgage crisis, economist Walter E. Williams has written: “Starting with the Community Reinvestment Act of 1977, that was given more teeth during the Clinton administration, Congress started intimidating banks and other financial institutions into making loans, so-called sub-prime loans, to high-risk homebuyers and businesses. “The carrot offered was that these high-risk loans would be purchased by the government-sponsored enterprises Fannie Mae and Freddie Mac. Anyone with an ounce of brains would have known that this was a prescription for disaster but there was a congressional chorus of denial,” he added. “The financial collapse of Fannie Mae and Freddie Mac is not a failure of the free market because lending institutions in a free market would not have taken on the high-risk loans,” said Williams. “They were forced to by the heavy hand of government.”
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POPSDear Congress "So with a perfect 100% failure rate and a record that proves that "services" you shove down our throats are failing faster and faster, you want Americans to believe you can be trusted with a government-run health care system? 20% of our entire economy?!? With all due respect... YOU MUST THINK WE'RE CRAZY!!!"
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POPS"Architects of Ruin" throw out common sense and decades of experience in order to make loans that were almost certain to go unpaid. The effort was launched during the Carter administration but really gained momentum and a head of steam during the Clinton years. (GOPers shouldn't feel too smug as the Bush administration continued and even expanded the practice). "Architects of Ruin" can be advance-ordered now on Amazon.com. No doubt, it will generate a flood of negative reviews from liberals in the mainstream media and their allies in the political and academic worlds in part because of sensational tidbits like the fact White House Chief of Staff was paid "more than $46,000 an hour as a board member for Freddie Mac ." What caught my eye today, though, concerns a little known fact about a long-forgotten class-action lawsuit filed in 1994 by three young trial lawyers, one of whom just happens to be sitting in the Oval Office today as president.
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POPSA Letter to Congress: With All Due Respect, Are You Crazy? It took good dependable cars (that were the best some people could afford) and replaced them with high-priced and less-affordable cars, mostly Japanese. A good percentage of the profits went out of the country. And the American taxpayers take the hit for Congress' generosity in burning three billion more of our dollars on failed experiments. So with a perfect 100 percent failure rate and a record that proves that "services" you shove down our throats are failing faster and faster, you want Americans to believe you can be trusted with a government-run health care system? 20 percent of our entire economy? With all due respect: Are you crazy? Brought to you by the editors and research staff of FamilySecurityMatters.org. Editor’s note: We don’t know who wrote this – it’s making the rounds on the Internet – but we agree wholeheartedly with the sentiment.
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POPSIn Whom Do You Place Your Trust? Principles grounded in thousands of years of human experience versus soaring, yet utterly empty, rhetoric. Timeless genius versus power-hungry political hacks. Our choice is clear. We choose liberty.
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POPS To Members of Congress And finally, to set a new record: Cash For Clunkers, failed in just over 5 weeks! It took good dependable cars (that were the best some people could afford) and replaced them with high-priced and less-affordable cars, mostly Japanese. A good percentage of the profits went out of the country. And the American taxpayers take the hit for Congress' generosity in burning three billion more of our dollars on failed experiments. So with a perfect 100% failure rate and a record that proves that "services" you shove down our throats are failing faster and faster, you want Americans to believe you can be trusted with a government-run health care system? 20% of our entire economy? With all due respect, Are you f***ing crazy?
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POPSFreddie & Fannie PAC Spending In the 2008 cycle, Fannie Mae PAC has contributed a total of $617,900 to congressional members; Freddie PAC gave $202,997 to members of Congress. More than half of that total — $489,998 — was designated for persons in leadership positions or who sit on either the House Financial Services Committee or the Senate Committee on Banking, Housing, and Urban Affairs.
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POPSThe Unbelievable connection and nepotism of Obama and Geithner The message the left holds onto is that Obama i an intellectual who worked his way up from poverty to become the leader of the free world. As If, any of that came without peoples hands on the yellow brick road that Obama skipped his way into the whitehouse on. Turn on the lights. watch the cockroaches scramble.
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POPSThug'sCashCowFannieLossesAnother$14.8 Bln. And stock spiked 25-30% at one point today. Was that Treasury injecting money? What happened to those who played this stock today expecting it to act as it would have normally? Too bad? They lose? So these thugs can play THEIR games buying votes with houses? I know, that really is a loosely put together opinion but I think it has elements of truth, at least.
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POPSLawsuit to Obtain Treasury's Documents on Bailout of Freddie & Fannie
Treasury Department officials requested a 10-day extension to conduct a document review. However, since that time, Treasury has provided no documents and no indication when documents will be forthcoming. On his first day in office, President Obama promised that "transparency and the rule of law will be the touchstones of this presidency." The president further declared that "the Freedom of Information Act is perhaps the most powerful instrument we have for making our government honest and transparent, and of holding it accountable." Earlier this year, Judicial Watch had to sue the Obama Treasury Department in order to obtain documents regarding an historic meeting held by former Treasury Secretary Henry "Hank" Paulson with top bank executives. The documents show that Paulson and other officials, including then-NY Fed Reserve head and current Treasury Secretary Timothy Geithner forced the executives to take the government's $250 billion "investment" (and resulting control).
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POPSAbout half of U.S. mortgages seen underwater by 2011 Housing has been crazy here too. Prices all over the shop but rising despite all that is happening. Banks still milking home loans to the max. We did it on one income and 2 kids. Now they can't with 2 incomes and both kids in childcare. Don't think we had as much to spend though. And the house wasn't real flash, a home though.
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POPSTime for Congress to Start Issuing Subpoenas Pulling the TARP over taxpayers' eyes By: Michael Barone Last fall, former Treasury Secretary Hank Paulson told shocked Americans that the $700 billion TARP had to be passed immediately but not to worry because taxpayers would eventually make money on the investments as banks and other institutions getting bailout money paid it back. To the contrary, Barofsky said, not only are banks hoarding TARP funds, it is "very unlikely" that most of the TARP money will ever be repaid, let alone turn a profit. The hastily passed bill included minimal reporting requirements, so a third of all TARP recipients admit they used the money to repay loans, merge with other banks, and even purchase more mortgage-backed securities from Fannie Mae and Freddie Mac - the two institutions at the heart of the housing market collapse. Some companies are even using TARP to pay off other government loans in what auditors call "bailout arbitrage." And it's all perfectly legal.
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POPS0bama & Liberal Cronies Made Chicago A Big Mess Saturday, October 25, 2008 WHILE CONSERVATIVE RUDY CLEANED UP NYC, OBAMA ANDS AYERS AND DALEY AIDED THEIR LIBERAL CRONIES AND LET CHICAGO BECOME A MESS. IF ELECTED POTUS, OBAMA AND THIS GANG WILL DO THEY SAME TO THE USA AND THE FREE WORLD. AND ON JANUARY 31ST WE WROTE THIS: THE OBAMA ADMINISTRATION IS ALREADY SHAPING UP AS ONE OF THE MOST CORRUPT EVER - IT'S FILLED WITH: BLATANT TAX CHEATS LIKE GEITHNER, DASCHLE, CLEVER LIARS LIKE HOLDER, INSIDIOUS OBSTRUCTORS OF JUSTICE LIKE PANETTA, REZKO'S LAWYER - JARRETT, SCU*BAGS LIKE RAHM EMANUEL - WHO WAS ON THE FREDDIE MAC BOARD WHEN IT WAS TOTALLY MISMANAGED, AND INEPT LEFTIES LIKE ARNE DUNCAN - A CHICAGO CRONY WHO GOT ZERO RESULTS AS THAT CITY'S EDUCATION CZAR. REPEAT: AND INEPT LEFTIES LIKE ARNE DUNCAN - A CHICAGO CRONY WHO GOT ZERO RESULTS AS THAT CITY'S EDUCATION CZAR. AND ON MAY 8TH WE WROTE: Obama and his corrupt thug cronies from the machine - Rahm Emanuel and Valerie Jarrett and Rezko and Blago
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POPSBarney Frank: Let’s Spend TARP Profits Before Taxpayers Can Get Them the Emergency Economic Stabilization Act” and apply it to a trust fund that Frank has long wanted to create for low-income rental housing. (The measure, unfunded, was part of last year’s bailout of Fannie Mae and Freddie Mac.) Next, Frank would take $1.5 billion from TARP dividends for a so-called “neighborhood stabilization” fund. Republican critics have charged that both measures might allow federal dollars to be distributed to activist groups like the Association of Community Organizers for Reform Now, or ACORN. Republican Sen. Orrin Hatch recently complained that TARP funds are “now being used as a go-to solution to address all of our nation’s economic ills.” Hatch and Democratic Sen. Blanche Lincoln recently introduced a bill that would require that TARP money goes back to the Treasury for debt reduction. Spending the dividend payments now, as Frank proposes, would reduce the chance that TARP might ever be a break-even deal for the taxpayers.
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