“Executives at Fannie Mae packaged both conventional and sub-prime loans, and they too, operated almost free of serious oversight. Fannie’s leaders spent lavishly to hire sixty Washington lobbyists who showered congressmen with campaign funds. Executives at Fannie were generous to the politicians because they wanted to ward off regulation.”
The executives at Fannie and Freddie, at the time in question, were all Democrats. Franklin Raines, Jim Johnson, Jamie Gorelick, etc. They cooked the books in order to get huge bonuses, something that landed Bernie Evers and Dennis Kozlowski in federal prison. They were never indicted because their Democrat friends chose not to investigate. Franklin Raines and Jim Johnson are now advisors to Obama. Do just a little research, please.
Remember, it was the Republicans who were pushing for more regulation and oversight of Fannie and Freddie, so the anti-regulation argument won’t fly. The Democrats blocked reform every time.
Art, do you even know what socialism is? Cuba or Russia surely never had it.
Art,
You may find this enlightening. http://www.laprogressive.com/2008/09/11/blame-ronald-reagan-for-our-current-economic-crisis/
Reader, do you know your ass from your elbow?
tomac, my favorite part was this:
“Executives at Fannie Mae packaged both conventional and sub-prime loans, and they too, operated almost free of serious oversight. Fannie’s leaders spent lavishly to hire sixty Washington lobbyists who showered congressmen with campaign funds. Executives at Fannie were generous to the politicians because they wanted to ward off regulation.”
The executives at Fannie and Freddie, at the time in question, were all Democrats. Franklin Raines, Jim Johnson, Jamie Gorelick, etc. They cooked the books in order to get huge bonuses, something that landed Bernie Evers and Dennis Kozlowski in federal prison. They were never indicted because their Democrat friends chose not to investigate. Franklin Raines and Jim Johnson are now advisors to Obama. Do just a little research, please.
Remember, it was the Republicans who were pushing for more regulation and oversight of Fannie and Freddie, so the anti-regulation argument won’t fly. The Democrats blocked reform every time.
The picture was Photoshopped