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» Democrats not the only one to blame for Fannie and Freddie

Democrats not the only one to blame for Fannie and Freddie

P: 10/20/2008 9:17:43 AM
Ellen Ideal Rock Total Posts: 22,894 Last Post: 11/6/2009 Member Since: 1/13/2006	http://news.yahoo.com/s/ap/20081020/ap_on_bi_ge/the_influence_game_housing WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse. ~~~~~~~~~~~~~~~~ "It is also important for the State to inculcate in its subjects an aversion to any 'conspiracy theory of history' for a search for 'conspiracies' means a search for motives and an attribution of responsibility for historical misdeeds." -Murray N. Rothbard, in The Anatomy of the State John Swinton [1829-1901] Chief Editorial Writer of the New York Times (Considered "the Dean of his Profession" by his peers), when asked to toast an 'Independent Press' in a gathering at the National Press Club, circa 1880 "There is no such thing in America as an independent press unless it is in the country towns. You know it, and I know it. There is not one of you who dare express an honest opinion. If you express it you know beforehand that it would never appear in print. I am paid... for keeping my honest opinions out of the paper I am connected with. Others of you are paid similar salaries for doing similar things.... The business of the New York journalist is to distort the truth, to lie outright, to pervert, to vilify, to fawn at the feet of Mammon, and sell his country and race for his daily bread, or for what is about the same thing, his salary. You know this, and I know it and what foolery to be toasting an 'independent press.' We are tools, and the vassals of rich men behind the scenes. We are jumping-jacks. They pull the strings and we dance. Our time, our talents, our lives, our possibilities, all are the property of other men. We are intellectual prostitutes."
Posted: 10/20/2008 9:17:43 AM

There are 7 replies to this message. There are 7 replies on this page.

P: 10/20/2008 10:08:42 AM
Irishgrrrl Ideal Rock Total Posts: 3,337 Last Post: 11/15/2009 Member Since: 6/3/2008	Ellen, thanks for posting this. I ran across it on my Yahoo homepage yesterday and . . . ~Emm "Goodness had nothing to do with it, dearie." ~ Mae West
Posted: 10/20/2008 10:08:42 AM

P: 10/20/2008 10:12:18 AM
goobear78 Ideal Rock Total Posts: 649 Last Post: 12/12/2008 Member Since: 6/20/2008	Wow. Thanks for posting this Ellen.
Posted: 10/20/2008 10:12:18 AM

P: 10/20/2008 11:36:19 AM
strmrdr Ideal Rock Total Posts: 23,296 Last Post: 10/9/2009 Member Since: 11/1/2003	Everyone in congress is to blame. Those that tried to do something are guilty of not bringing the case to the American people and if they tried then the news agencies are just as guilty for not getting the news out. ........... Karl has joined the diamond trade and is now posting as Karl_K
Posted: 10/20/2008 11:36:19 AM

P: 10/20/2008 11:54:40 AM
strmrdr Ideal Rock Total Posts: 23,296 Last Post: 10/9/2009 Member Since: 11/1/2003	"In recent days, McCain has said Freddie Mac and Fannie Mae were "one of the real catalysts, really the match that lit this fire" of the global credit crisis." I think McCain is wrong on that, Wall Street got in the banking business with disastrous results. Freddie and Fannie were not enough to bring down the market. .25% interest rates on savings pushing people into risky investments was the second biggest thing. To much money floating around in the system with to little of value to purchase was another. ........... Karl has joined the diamond trade and is now posting as Karl_K
Posted: 10/20/2008 11:54:40 AM

P: 10/20/2008 12:34:58 PM
thing2of2 Ideal Rock Total Posts: 7,664 Last Post: 11/23/2009 Member Since: 1/1/2007	Thanks for posting this, Ellen. I saw that on a couple of my news sites and I thought it was rather interesting. And by interesting I mean shady.
Posted: 10/20/2008 12:34:58 PM

P: 10/20/2008 1:09:39 PM
purrfectpear Ideal Rock Total Posts: 3,696 Last Post: 11/20/2009 Member Since: 3/31/2008	Date: 10/20/2008 11:54:40 AM Author: strmrdr 'In recent days, McCain has said Freddie Mac and Fannie Mae were 'one of the real catalysts, really the match that lit this fire' of the global credit crisis.' I think McCain is wrong on that, Wall Street got in the banking business with disastrous results. Freddie and Fannie were not enough to bring down the market. .25% interest rates on savings pushing people into risky investments was the second biggest thing. To much money floating around in the system with to little of value to purchase was another. Where do you get this stuff Karl? I was getting 5.25% last year, and I'm still getting 3.50% (though it's nothing to brag about) in FNBO savings this year. Not CD's, fully liquid FDIC savings accounts. Sure there are savings accounts that pay little, but aren't the consumers responsible for seeking out better rates? "Style is knowing who you are, what you want to say and not giving a damn." -Gore Vidal
Posted: 10/20/2008 1:09:39 PM

P: 10/20/2008 2:53:27 PM
strmrdr Ideal Rock Total Posts: 23,296 Last Post: 10/9/2009 Member Since: 11/1/2003	Date: 10/20/2008 1:09:39 PM Author: purrfectpear Date: 10/20/2008 11:54:40 AM Author: strmrdr 'In recent days, McCain has said Freddie Mac and Fannie Mae were 'one of the real catalysts, really the match that lit this fire' of the global credit crisis.' I think McCain is wrong on that, Wall Street got in the banking business with disastrous results. Freddie and Fannie were not enough to bring down the market. .25% interest rates on savings pushing people into risky investments was the second biggest thing. To much money floating around in the system with to little of value to purchase was another. Where do you get this stuff Karl? I was getting 5.25% last year, and I'm still getting 3.50% (though it's nothing to brag about) in FNBO savings this year. Not CD's, fully liquid FDIC savings accounts. Sure there are savings accounts that pay little, but aren't the consumers responsible for seeking out better rates? Most people don't look beyond their local bank. .25% is what my local bank was offering on saving accounts when I opened my checking account. Your still not keeping up with real inflation. ........... Karl has joined the diamond trade and is now posting as Karl_K
Posted: 10/20/2008 2:53:27 PM

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