Veer Right Weblog

A Conservative View on Politics and the World

  • cover_art_xsmall1
  • Categories

  • Archives

  • The Freedom Our Forefathers fought for must be protected.

    "Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free." - Ronald Reagan

  • revised120x602

Archive for the ‘Fannie Mae’ Category

Excerpts from The One’s Speech

Posted by rightwinger on January 21, 2009

I am proud that we have the first black president, but that’s about where it ends for me.  It is because of principle and policy nothing else.  I don’t want the socialist agenda that BHO has planned to come to fruition.  I’m not falling for the Obama mania.  I see clearly what BHO wants to accomplish starting with his Senate bill 2433.  He made reference to this in his inaugural speech.

Principles are the same period. Principles are the same regardless of our circumstances. For example, supply and demand affects prices period. Big government spending is bad, not good. Roosevelt actually made the depression worse and last longer because of his New Deal.  Now The One wants us to think old arguments don’t work?  A shift has occurred, so what we think is no longer correct.  He is basing his economic stimulus on Roosevelt’s failed New Deal.  Talk about old ideas.  What is new about his economic stimulus plan?  Its back to the 1930’s courtesy of BHO.

What the cynics fail to understand is that the ground has shifted beneath them _ that the stale political arguments that have consumed us for so long no longer apply. The question we ask today is not whether our government is too big or too small, but whether it works _ whether it helps families find jobs at a decent wage, care they can afford, a retirement that is dignified. Where the answer is yes, we intend to move forward. Where the answer is no, programs will end. Those of us who manage the public’s dollars will be held to account _ to spend wisely, reform bad habits, and do our business in the light of day _ because only then can we restore the vital trust between a people and their government.

Now considering that the Economic Crisis fundamentally was caused by the Community Reinvestment Act and the CEO of Fannie Mae cooking the books, how did the market spiral out of control?  The CEO of Fannie Mae made $90 million in 6 years after cooking the books.  He has not been named once by the MSM or Obama.  You see when government steals from the American people, no one cares.  Especially when its Dems protecting Dems.  Big government means more stealing by corrupt officials.  There won’t be any hearings just like there hasn’t been one for Franklin Raines.

Nor is the question before us whether the market is a force for good or ill. Its power to generate wealth and expand freedom is unmatched, but this crisis has reminded us that without a watchful eye, the market can spin out of control _ and that a nation cannot prosper long when it favors only the prosperous. The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart _ not out of charity, but because it is the surest route to our common good.

Essentially Guantanimo will be closed and so called torture will not be permitted.  Obama is forgetting that the Constitution does not guarantee rights to foreign nationals.  In fact under Roosevelt terrorists were tried under the UCMJ and given the death sentence.  A lead al Qaeda terrorist and mastermind of the planes operation had to be waterboarded 100 times in 2 weeks before he broke.  Because of this, we have gotten the most information from Khalid Sheik Muhammad about al Qaida and its inner workings.  Don’t worry America the terrorists now know they won’t be tortured and won’t talk.  Forget about stopping the next terrorist attack.  Since the Average American doesn’t know what the US Constitution says and is ill advised on US History, Obama make statements such as this.  Notice how he doesn’t call out the ideology we at war with today.  It is not a War on Terror.  Its is a war on Radical Islam.  Obama cannot state the truth in this matter.  We called out communism and fascism when we were at war with these ideologies.  In a report on defeating al Qaida given to Congress calling out the ideology of radical Islam was described as one part of defeating it.

As for our common defense, we reject as false the choice between our safety and our ideals. Our founding fathers … our found fathers, faced with perils we can scarcely imagine, drafted a charter to assure the rule of law and the rights of man, a charter expanded by the blood of generations. Those ideals still light the world, and we will not give them up for expedience’s sake. And so to all the other peoples and governments who are watching today, from the grandest capitals to the small village where my father was born: know that America is a friend of each nation and every man, woman, and child who seeks a future of peace and dignity, and that we are ready to lead once more.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint. 

He wants to leave Iraq responsibly to its people.  Oh really because when things got tough he wanted to cut and run while leaving Iraq to the terrorists.  Yes Obama will usher in a new era of so called peace while appeasing the terrorists and rogue states.  Believe me there will be another attack on the US and it will be because of Obama’s appeasement and lack of strength.  

We are the keepers of this legacy.  Guided by these principles once more, we can meet those new threats that demand even greater effort _ even greater cooperation and understanding between nations. We will begin to responsibly leave Iraq to its people, and forge a hard-earned peace in Afghanistan. With old friends and former foes, we will work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet. We will not apologize for our way of life, nor will we waver in its defense, and for those who seek to advance their aims by inducing terror and slaughtering innocents, we say to you now that our spirit is stronger and cannot be broken; you cannot outlast us, and we will defeat you.

For we know that our patchwork heritage is a strength, not a weakness. We are a nation of Christians and Muslims, Jews and Hindus _ and non-believers. We are shaped by every language and culture, drawn from every end of this Earth; and because we have tasted the bitter swill of civil war and segregation, and emerged from that dark chapter stronger and more united, we cannot help but believe that the old hatreds shall someday pass; that the lines of tribe shall soon dissolve; that as the world grows smaller, our common humanity shall reveal itself; and that America must play its role in ushering in a new era of peace.

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society’s ills on the West _ know that your people will judge you on what you can build, not what you destroy. To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history; but that we will extend a hand if you are willing to unclench your fist.

The next paragraph is yes all about Senate bill 2433.  Rich nations must share their wealth with poor nations.  AKA more money going to rogue nations and dictators.

To the people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds. And to those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to the suffering outside our borders; nor can we consume the world’s resources without regard to effect. For the world has changed, and we must change with it.

This ending is nice, but its sad that the freedoms that our forefathers fought and died for – smaller government and lower taxes – will be a faint memory once Obama has instituted his bigger government and redistribution plans.

So let us mark this day with remembrance, of who we are and how far we have traveled. In the year of America’s birth, in the coldest of months, a small band of patriots huddled by dying campfires on the shores of an icy river. The capital was abandoned. The enemy was advancing. The snow was stained with blood. At a moment when the outcome of our revolution was most in doubt, the father of our nation ordered these words be read to the people:

“Let it be told to the future world … that in the depth of winter, when nothing but hope and virtue could survive…that the city and the country, alarmed at one common danger, came forth to meet (it).”

America, in the face of our common dangers, in this winter of our hardship, let us remember these timeless words. With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children’s children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God’s grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.

Thank you. God bless you. And God bless the United States of America.

Trackbacks:  http://hotair.com/archives/2009/01/20/good-luck-mr-president/

Advertisements

Posted in Fannie Mae, Iraq, Obama, Terrorism | Leave a Comment »

Coming Obama Depression???

Posted by rightwinger on December 23, 2008

I hope not, but Obama’s stimulus and cap and trade plans are all wrong for the US economy. We need to cut ALL taxes now and let the capitalist system work. Bigger government won’t solve this. In fact, it caused it via the Community Reinvestment Act and cooking the books at Fannie Mae.

Vodpod videos no longer available.

more about "Coming Obama Depression???", posted with vodpod

Posted in CRA, Economy, Fannie Mae, Obama | Tagged: , | Leave a Comment »

Is the Community Reinvestment Act to blame for the current Economic Crisis – Yes with a little help from cooking the books at Fannie Mae

Posted by rightwinger on December 11, 2008

Many politicians and government officials are not telling the truth when they say that the Community Reinvestment Act is not to blame for the current economic crisis.

There are three major reasons for the current Economic Crisis:

1. Community Reinvestment Act

2. Repeal of the Glass-Steagall Act

  • Banking regulations put in place after the Great Depression.
  • Repealed under Clinton
  • Led by a Republican, but signed by Clinton

3. Accounting Irregularities at Fannie Mae (aka cooking the books like Enron)

Barack Obama has interestingly enough blamed Bush for the Economic Crisis. In reality the economic crisis is rooted in Democrat legislation. When the Republicans tried to blow the whistle and say that reforms were needed, the Democrats stopped it. It all began with the Community Reinvestment Act (CRA) under Carter which guaranteed that low income individuals would be guaranteed loans. These loans are referred to as ninja loans – no income, no job, no assets. It didn’t cause a problem until under Clinton when they mandated that Fannie Mae’s portfolio be 50% of these ninja loans. It is interesting that Fannie Mae’s portfolio was increased right at the end of Clinton’s presidency and was inherited by Bush. By the way, Bush also inherited an economy in recession. Most people have forgotten this fact. In the Spring of 2000, the stock market crashed when the dot com bomb hit. Because of this a trend started where people started buying bigger fancier houses and investing less in the stock market. Also the house flipping trend came on the scene. This was the beginnings of the Housing bubble. Seven months after Bush took office, the US was attacked on 9/11. We were lucky due to Bush’s economic policies not to go into a deep depression.

No company can survive with 50% of its assets in junk holdings. It is destined to fail. This is what happened to Fannie Mae. Add to this ninja loans were mandated by Congress so lenders had a quota they HAD to meet in order to comply with the CRA. Now everyone was buying houses even people who were high risks. For awhile things were fine. It takes years for something like this to finally bust.

The Dems want to say that it is ALL because of the Glass-Steagall Act being repealed. Yes this was a contributing factor, but NOT the reason we are in this mess. At the heart of this debacle is that these junk loans were bundled and resold. Its the bad assets that caused the failure. If good assets had been bundled and resold we wouldn’t be in this mess. The assets being packaged and sold to other financial institutions were these worthless ninja loans that were mandated as being 50% of Fannie Mae’s assets. Now once Bush was in office and “accounting irregularities” were discovered the Republicans tried to blow the whistle as you will see in the below video. Although the Republicans controlled Congress they did not have enough votes to override the Democrats halting the new regulations being proposed. Fannie Mae was cooking the books. Franklin Raines should be in prison right about now. He oversaw Fannie Mae and personally profited to the tune of $90 million in 6 years. The Democrats in Congress knew this and covered it ALL up while fighting against any new regulation changes to Fannie Mae.

Vodpod videos no longer available.

How is Obama tied into the Fannie Mae debacle? Well he knew Fannie was in trouble and did nothing but take payoffs. In 2005 he knew it was in trouble and just got a large sum of money to go along with the Democratic cover-up. Obama even represented ACORN and sued one bank forcing them to make these junk loans. One of ACORN’s tasks was to intimidate banks into making these ninja loans. Obama both worked for ACORN and trained other community organizers in these harsh tactics. Obama having only been in the Senate for less than 4 years was number 2 on receiving payouts or should I say payoffs from Fannie Mae. Barack Obama is a liar who is saying the Bush policies caused the Economic Crisis. Wake up America! The main stream media continues to cover for his lies. See the video below where Michelle Obama was at this 2005 meeting where it was announced that Fannie Mae was in trouble and how these Democrats were Fannie Mae’s “family”.

Vodpod videos no longer available.

Let’s face it, if Obama was this great leader of change, he would have stood up and pointed out this corruption instead of simply staying quiet and receiving money. Barack Obama knew Fannie Mae was crumbling from within while he remained quiet.  Now that Obama has been elected, he is in major cover up mode for Fannie Mae and his friends that ran it.  You won’t hear anything about theses facts in the main stream media.  Nope.  It will just all be covered up.   It is bad enough Obama is lying about it, but the fact that he and the Democrats refuse to do anything about it is worse. The refusal of the Democrats to investigate Franklin Raines and the root cause of the crisis is putting our nation at peril. In fact the Democrats are blatantly lieing and saying that CRA wasn’t behind this mess. If anyone with any sense who looks further knows that it was at the heart of this crisis.  Another 10 years of these kinds of underhanded politics, business as usual, blame someone else (aka Bush) will destroy our economy while these politicians grease their own hands.  Guess what we all may become global citizens while the US becomes a third world nation.  Oh yess, Obama is going to see to this with his Global Poverty Act S.2433.

Posted in CRA, Economy, Fannie Mae, Global Warming | Tagged: , | Leave a Comment »

Kill the Community Reinvestment Act Now!

Posted by rightwinger on December 3, 2008

With all the so-called invesrigations regarding the economic crisis, no one is saying that the Community Reinvestment Act (CRA) is to blame. Its the usual blame Bush scenario. The problem is the root cause of the financial crisis lies in the CRA. If its not addressed and reformed, then our whole financial system is at risk.

The Community Reinvestment Act is to blame for the financial crisis, but it so powerfully serves Democrats’ interests that they’ll do anything to protect it — including revising history.

The CRA coerces banks into making loans based on political correctness, and little else, to people who can’t afford them. Enforced like never before by the Clinton administration, the regulation destroyed credit standards across the mortgage industry, created the subprime market, and caused the housing bubble that has now burst and left us with the worst housing and banking crises since the Great Depression.

The CRA should be abolished, along with the government-sponsored enterprises that fueled the secondary market for subprimes — under pressure from Clinton, who ordered HUD to set quotas for “affirmative action” lending at Fannie Mae and Freddie Mac.

But powerful Democrats in Washington want to protect the act — along with Fannie and Freddie — and spin the subprime scandal as the result of too little regulation, not too much.

As we said, Clinton beefed up the CRA and used it to force banks to subsidize poor communities with close to $1 trillion in high-risk loans and other commitments that flouted underwriting rules.

Yet, somehow, these media-driven myths keep getting in the way of actual facts, such as:

Fact: The 1977 law was only lightly enforced until Clinton added teeth to it in 1994 and launched an anti-redlining campaign against banks, led by Ludwig, Housing Secretary Henry Cisneros (and later Andrew Cuomo) and Attorney General Janet Reno that lasted into this decade.

Minority homeownership rates, which had been flat, began a steep rise in 1995, and home prices soon followed, stoked by easier lending. Numerous bank officials complain that they still feel pressured by CRA regulators to make inner-city loans they know are at great risk of defaulting.

Myth: The CRA could not have led to financial Armageddon, because the overwhelming share of subprime mortgages came from lenders that were not banks and not regulated by the CRA.

Fact: Nearly 4 in 10 subprime loans between 2004 and 2007 were made by CRA-covered banks such as Washington Mutual and IndyMac. And that doesn’t include loans made by subprime lenders owned by banks, which were in effect covered by the CRA.

Last year, when the bubble burst, bank subprime loans totaled $142 billion, dwarfing those made by lenders.

What’s more, the biggest subprime lender, Countrywide, while not subject to the law, still came under federal pressure to make risky loans in minority communities.

Clinton created a separate department at HUD to police “fair lending” at Fannie and Freddie and also at lenders like Countrywide, which became Fannie’s biggest client. In 1994, Countrywide became the nation’s first mortgage lender to sign with HUD a “Declaration of Fair Lending Principles and Practices.”

Read the full article

Posted in Economy, Fannie Mae | Tagged: , , , | 3 Comments »

Barack Obama – Unfit to be President Part II

Posted by rightwinger on October 28, 2008

Obama and the Economic Crisis: How Obama and ACORN contributed to this mess

Barack Obama has interestingly enough blamed Bush for the Economic Crisis.  In reality the economic crisis is rooted in Democrat legislation.  When the Republicans tried to blow the whistle and say that reforms were needed, the Democrats stopped it.  It all began with the Community Reinvestment Act (CRA) under Carter which guaranteed that low income individuals would be guaranteed loans.  These loans are referred to as ninja loans – no income, no job, no assets.  It didn’t cause a problem until under Clinton when they mandated that Fannie Mae’s portfolio be 50% of these ninja loans.  It is interesting that Fannie Mae’s portfolio was increased right at the end of Clinton’s presidency and was inherited by Bush.  By the way, Bush also inherited an economy in recession. Most people have forgotten this fact.  In the Spring of 2000, the stock market crashed when the dot com bomb hit.   Because of this a trend started where people started buying bigger fancier houses and investing less in the stock market.  Also the house flipping trend came on the scene.  This was the beginnings of the Housing bubble.  Seven months after Bush took office, the US was attacked on 9/11.  We were lucky due to Bush’s economic policies not to go into a deep depression.

No company can survive with 50% of its assets in junk holdings.  It is destined to fail.  This is what happened to Fannie Mae.   Add to this ninja loans were mandated by Congress so lenders had a quota they HAD to meet in order to comply with the CRA.  Now everyone was buying houses even people who were high risks.  For awhile things were fine.  It takes years for something like this to finally bust.

The Dems want to say that it is ALL because of the Glass-Steigel Act being repealed.  Yes this was a contributing factor, but NOT the reason we are in this mess.   At the heart of this debacle is that these junk loans were bundled and resold.  Its the bad assets that caused the failure.  If good assets had been bundled and resold we wouldn’t be in this mess.   The assets being packaged and sold to other financial institutions were these worthless ninja loans that were mandated as being 50% of Fannie Mae’s assets.  Now once Bush was in office and “accounting irregularities” were discovered the Republicans tried to blow the whistle as you will see in the below video.   Although the Republicans controlled Congress they did not have enough votes to override the Democrats halting the new regulations being proposed.  Fannie Mae was cooking the books.  Franklin Raines should be in prison right about now.  He oversaw Fannie Mae and personally profited to the tune of $90 million in 6 years.  The Democrats in Congress knew this and covered it ALL up while fighting against any new regulation changes to Fannie Mae.

Vodpod videos no longer available.

How is Obama tied into the Fannie Mae debacle?  Well he knew Fannie was in trouble and did nothing but take payoffs.  In 2005 he knew it was in trouble and just got a large sum of money to go along with the Democratic cover-up.  Obama even represented ACORN and sued one bank forcing them to make these junk loans.  One of ACORN’s tasks was to intimidate banks into making these ninja loans.  Obama both worked for ACORN and trained other community organizers in these harsh tactics.  Obama having only been in the Senate for less than 4 years was number 2 on receiving payouts or should I say payoffs from Fannie Mae.  Barack Obama is a liar who is saying the Bush policies caused the Economic Crisis.  Wake up America!  The main stream media continues to cover for his lies.  See Michelle Obama was at this 2005 meeting where it was announced that Fannie Mae was in trouble and how these Democrats were Fannie Mae’s “family”.

Vodpod videos no longer available.

Let’s face it, if Obama was this great leader of change, he would have stood up and pointed out this corruption instead of simply staying quiet and receiving money.  Barack Obama knew Fannie Mae was crumbling from within while he remained quiet.  Obama does not have the judgment to lead this great nation.  It is the same old blame someone or something else.  It is bad enough he is lying about it, but the fact that he and the Democrats refuse to do anything about it is worse.  The refusal of the Democrats to  investigate Franklin Raines and the root cause of the crisis is putting our nation at peril.  Another 10 years of these kinds of underhanded politics, business as usual, blame someone else (aka Bush) will destroy our economy while these politicians grease their own hands.

Posted in Economy, Fannie Mae, Obama | Tagged: , , , , , | 1 Comment »

Finally a Dem Telling the Truth about the Economic Crisis

Posted by rightwinger on October 23, 2008

This housing crisis didn’t come out of nowhere.  It was not a vague emanation of the evil Bush administration.

It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.

What is a risky loan? It’s a loan that the recipient is likely not to be able to repay.

The goal of this rule change was to help the poor — which especially would help members of minority groups. But how does it help these people to give them a loan that they can’t repay? They get into a house, yes, but when they can’t make the payments, they lose the house — along with their credit rating.

They end up worse off than before.

This was completely foreseeable and in fact many people did foresee it. One political party, in Congress and in the executive branch, tried repeatedly to tighten up the rules. The other party blocked every such attempt and tried to loosen them.

Furthermore, Freddie Mac and Fannie Mae were making political contributions to the very members of Congress who were allowing them to make irresponsible loans. (Though why quasi-federal agencies were allowed to do so baffles me. It’s as if the Pentagon were allowed to contribute to the political campaigns of Congressmen who support increasing their budget.)

Isn’t there a story here? Doesn’t journalism require that you who produce our daily paper tell the truth about who brought us to a position where the only way to keep confidence in our economy was a $700 billion bailout? Aren’t you supposed to follow the money and see which politicians were benefitting personally from the deregulation of mortgage lending?

I have no doubt that if these facts had pointed to the Republican Party or to John McCain as the guilty parties, you would be treating it as a vast scandal. “Housing-gate,” no doubt. Or “Fannie-gate.”

Read the full article for yourself.

Posted in Economy, Fannie Mae, liberal, Obama | Tagged: , , , | Leave a Comment »

What Caused the Economic Crisis?

Posted by rightwinger on October 5, 2008

Vodpod videos no longer available.

How was Obama involved?   Well he would represent ACORN and sue banks for not making enough low income loans.  Obama also worked for ACORN as a community organizer.

It was Democrats’ regulatory and litigious assaults upon the mortgage market in pursuit of “social justice” that left our economy in its precarious position of today; indeed as an attorney, Obama himself in 1994 represented a client suing Citibank, accusing it of systematically denying mortgages to blacks.

Read the full article for yourself.

Posted in Economy, Fannie Mae | Tagged: , | Leave a Comment »

Fannie Mae Coverup by Dems

Posted by rightwinger on October 3, 2008

The Wall Street Journal has a great article on how the Dems covered up the Fannie Mae corruption.

Clockwise from top left: Sen. Thomas Carper, Rep. Barney Frank, Sen. Robert Bennett, Rep. Maxine Waters, Sen. Chris Dodd and Sen. Charles Schumer.

House Financial Services Committee hearing, Sept. 10, 2003:

Rep. Barney Frank (D., Mass.): I worry, frankly, that there’s a tension here. The more people, in my judgment, exaggerate a threat of safety and soundness, the more people conjure up the possibility of serious financial losses to the Treasury, which I do not see. I think we see entities that are fundamentally sound financially and withstand some of the disaster scenarios. . . .

Rep. Maxine Waters (D., Calif.), speaking to Housing and Urban Development Secretary Mel Martinez:

Secretary Martinez, if it ain’t broke, why do you want to fix it? Have the GSEs [government-sponsored enterprises] ever missed their housing goals?

* * *

House Financial Services Committee hearing, Sept. 25, 2003:

Rep. Frank: I do think I do not want the same kind of focus on safety and soundness that we have in OCC [Office of the Comptroller of the Currency] and OTS [Office of Thrift Supervision]. I want to roll the dice a little bit more in this situation towards subsidized housing. . . .

Read the full article for yourself.

Vodpod videos no longer available.


Posted in Economy, Fannie Mae, liberal, Obama | Tagged: , , , , , , | Leave a Comment »

1 TRILLION DOLLAR BAILOUT – 1,000,000,000,000

Posted by rightwinger on October 2, 2008

The 1 trillion dollar bailout in three months?  Do you remember the libs complaining that the IRAQ War was too costly.  They said 3 trillion was too much over 5 years to provide for our national security.  Saddam Hussein had WMDs and was working with and financing al Qaida up until we invaded. The truth behind the cost of the IRAQ War can be seen here. We aren’t spending much more than we normally spend on the Military.  All of the sudden its fine to spend $1 trillion dollars in three months.  You are probably saying the bailout is $700 billion.  Yes the one they are trying to pass now.  In July they passed a $300 billion mortgage bailout.  Barack Obama says let’s not find out the root cause, let’s put out the fire.  Yes Obama, you don’t want the American people to know that your buddy Franklin Raines made $90 billion in 6 years after cooking the books.  You don’t want Americans to know you were number 2 on the list for getting payoffs from Fannie Mae.  You don’t want Americans to know that ACORN was slated to get 20% from the first bailout via funding of the Community Reinvestment Act of 1977.

Posted in Economy, Fannie Mae, liberal, Obama | Tagged: , , | 2 Comments »

Its Time to Name Names: Franklin Raines

Posted by rightwinger on October 2, 2008

I want Franklin Raines in jail.  What is good for Ken Lay is good for old Franklin Raines who personally made $90 million dollars in six years from Fannie Mae cooking the books.   I have written all of my representatives calling for an investigation and hearing on Franklin Raines and his mismanagement of Fannie Mae.   When Bush tried to sound the alarm in 2003 after accounting irregularities were discovered, the Dems did everything to cover for this crook.

Please, please write your U.S. Senators and Congressman and demand that Franklin Raines be brought up on charges.  What was good for Ken Lay is good for Franklin Raines.  STOP the cover-up now or we will never get rid of this corruption. The bailouts will keep continuing while the blame is put elsewhere.

Posted in Economy, Fannie Mae, liberal, Obama | Tagged: , , , , | 1 Comment »