Great post, bds. It perfectly explains why I despise both political parties and the politicians attached to both.

boards of FL wrote:


Democrats actions leading to Mortgage Collapse B.B.
From New York Times
Fannie Mae Eases Credit To Aid Mortgage Lending
http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html


From Bloomberg News
How the Democrats Created the Financial Crisis
http://www.bloomberg.com/apps/news?pid=newsarchive&refer=columnist_hassett&sid=aSKSoiNbnQY0


The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs, ie Fannie, Freddie etc.)
http://georgewbush-whitehouse.archives.gov/news/releases/2008/09/20080919-15.html


Timeline shows Bush, McCain warning Democrats of Financial Crisis; Meltdown
https://www.youtube.com/watch?v=cMnSp4qEXNM&feature=related


The Wall Street Journal Barney’s Rubble
http://online.wsj.com/news/articles/SB122161010874845645


Mashup of Maxine Waters & Barney Frank - Then Vs. Now
http://www.liveleak.com/view?i=275_1235196320



The Bet That Blew Up Wall Street
Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis
http://www.cbsnews.com/news/the-bet-that-blew-up-wall-street/

BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE

When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.

But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.

Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac .

And let me talk about some of the progress which we have made to date, as an example for others to follow. First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion. (Applause.) I want to thank Leland and Franklin for that commitment. It's a commitment that conforms to their charters, as well, and also conforms to their hearts.

This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments. (Applause.)

Fannie Mae will establish 100 partnerships with faith-based organizations that will provide home buyer education and help increase homeownership for their congregations. I love the partnership. (Applause.)

knothead wrote:Where's Markle?

ZVUGKTUBM wrote:

knothead wrote:Where's Markle?

Markle runs away when his butt gets stomped.