Crisis Timeline, an Indictment

Re: Crisis Timeline, an Indictment

PostBy: vtec350 On: Wed Oct 01, 2008 2:50 pm

Devil505 wrote:Let's cut to the chase here.....The only thing that really matters in the end is who the American voter blames for all this. Your opinion...My opinion...All of our opinions mean nothing when push comes to shove.
Can we agree on that?


One big problem is that most American don't get to see these FACTS and they are blinded by the media who only shows you what they want you to see ! Just turn on DNN- you know the Democratic National News otherwise know as CNN, they haven't shown one negative story against Osama but continue to "cherry pick" dirt on McCain/Palin. With the mortgage crisis rite now and everyone trying to point the finger at the Republicans for this of course it looks like they're the ones to blame. Richard, Greg and everyone else who knows the "truth" please make a point to post these facts and videos on message boards, emails and any other place where they will be seen so Americans can see who is really to blame for this mess !!!

Don't be to hard on devil, he can't help it he's from this messed up Democratic state of Mass. :lol: :nana: :twisted: Come over to WMass devil, we'll convert ya...... :fear: :bag:

Dave
vtec350
 
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Re: Crisis Timeline, an Indictment

PostBy: spc On: Thu Oct 02, 2008 1:55 pm

What They Said About Fan and Fred :

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. Gregory Meeks, (D., N.Y.): . . . I am just pissed off at Ofheo [Office of Federal Housing Enterprise Oversight] because if it wasn't for you I don't think that we would be here in the first place.

Rep. Waters: However, I have sat through nearly a dozen hearings where, frankly, we were trying to fix something that wasn't broke....Mr. Chairman, we do not have a crisis at Freddie Mac, and in particular at Fannie Mae, under the outstanding leadership of Mr. Frank Raines. Everything in the 1992 act has worked just fine. In fact, the GSEs have exceeded their housing goals. . . .

Rep. Frank: Let me ask [George] Gould and [Franklin] Raines on behalf of Freddie Mac and Fannie Mae, do you feel that over the past years you have been substantially under-regulated?

Mr. Raines?

Mr. Raines: No, sir.

Mr. Frank: Mr. Gould?

Mr. Gould: No, sir. . . .

Mr. Frank: OK. Then I am not entirely sure why we are here. . . .

Rep. Frank: I believe there has been more alarm raised about potential unsafety and unsoundness than, in fact, exists.

Senate Banking Committee, Oct. 16, 2003:

Sen. Charles Schumer (D., N.Y.): And my worry is that we're using the recent safety and soundness concerns, particularly with Freddie, and with a poor regulator, as a straw man to curtail Fannie and Freddie's mission. And I don't think there is any doubt that there are some in the administration who don't believe in Fannie and Freddie altogether, say let the private sector do it. That would be sort of an ideological position.

Mr. Raines: But more importantly, banks are in a far more risky business than we are.

Sen. Christopher Dodd (D., Conn.): I, just briefly will say, Mr. Chairman, obviously, like most of us here, this is one of the great success stories of all time.

http://online.wsj.com/news/articles/SB1 ... 4391296381

[size=200]Follow the money![/size]
spc
 
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Re: Crisis Timeline, an Indictment

PostBy: beatle78 On: Thu Oct 02, 2008 2:14 pm

Nice research! That must have taken a lot of time. I don't think Devil realizes that the information you posted was from .gov sources and not from slanted media agenda. There is a HUGE difference!

I agree how the facts always seem to get lost in all the "truth"....sad but true.

I can't believe how many people think the economy did so well in the last 90's early 2000's was b/c Clinton was president. I'm not saying he had nothing to do with it, but we were in a .com BOOM and that is the real reason for the economy BOOM.

Then it burst in 2000 when G.W. took office and everyone now wants to blame him. Although I think GW has made many mistakes while in office, he's not the reason for the economic downturn.
beatle78
 
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Re: Crisis Timeline, an Indictment

PostBy: spc On: Thu Oct 02, 2008 3:49 pm

Enron, Worldcom, Tyco vs. Fannie/Freddie



And do remember the left screaming about Enron?
"Democrats will clearly be on the side of use the little guy," said Rep. Robert Menendez, New Jersey Democrat"
http://www.highbeam.com/doc/1G1-82290029.html

Their silence on Fannie & Freddie is deafening.

[size=200]Are you pissed off yet?[/size]
spc
 
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Re: Crisis Timeline, an Indictment

PostBy: Coal Jockey On: Sat Oct 04, 2008 8:52 pm

You must all go much farther back to see the broader context of world financial chaos. Today Nicholas Sarkozy is calling for a restructuring of the entire world's finances........ Many may object to this video, but this lecture and another one in the same vein below are worth your time.


http://www.fatimaondemand.org/brazil_07/en/en20-watch.htm
This link is broken, either the page no longer exists or there is some other issue like a typo.


http://www.fatimaondemand.org/brazil_07/en/en14-watch.htm
This link is broken, either the page no longer exists or there is some other issue like a typo.


Love,
Conspiracy Theorist... :roll: 8-)
Coal Jockey
 
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Re: Crisis Timeline, an Indictment

PostBy: Coal Jockey On: Sat Oct 04, 2008 10:07 pm


http://www.cbc.ca/money/story/2008/10/04/euro-markets.html
This link is broken, either the page no longer exists or there is some other issue like a typo.

excerpt from above link:

"...Global leaders should meet "as soon as possible" to start overhauling the banking sector, the group also said following Saturday's meeting.

Ireland last week became the first country in western Europe to slip into recession amid the economic turmoil, official figures showed. Economists believe Germany, Spain and Britain may be next.

Last week, Sarkozy said his country was in recession.

On Friday, the French national statistics agency said it expects the economy will shrink by 0.1 per cent in both the third and fourth quarters of 2008, following a 0.3 per cent contraction in the second quarter.

French Prime Minister François Fillon said at the time that the world is on the “edge of the abyss" because of an "irresponsible" banking system.

The United Nations General Assembly also weighed in on the crisis at the close of a week of high-level talks, held annually in New York.

"Unrestrained worship of the market" is to blame for the financial meltdown spreading across the globe, General Assembly President Miguel D’Escoto said in a statement issued Friday.

“We are reaping the consequences of the idolatry,” D’Escoto told reporters later in the day, warning of the pitfalls of putting blind trust in the market.

He called for greater regulation to help reverse the global economic slide, as well as greater solidarity between individuals and governments..."
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Re: Crisis Timeline, an Indictment

PostBy: pvolcko On: Sat Oct 04, 2008 11:58 pm

It was government regulations that caused the market for these subprime loans and all their derivative securities instruments to explode in popularity in the first place. It was government backed and directed companies in the US that created the market for this garbage. It was the government pumping in billions and billions of dollars into Freddie and Fannie at below market rates that bought up all this crap. It was the Democrat loyal, corrupt management at these two GSE's and their bought and paid for idiotic Democrat regulatory policies that allowed and encouraged them to buy, repackage and re-rate, and sell all this toxic paper throughout the market.

And what did this bailout bill do about this underlying structural problem? Nothing, not a single thing! Who created these regulations and laws? Who defended them when the crisis was forseen and they were warned? Democrats. Who's now blaming Bush, just like they have with everything else these past 8 years no matter how complicit they themselves have been? Democrats. Who's blaming market economics and not their own government regulations for this? Democrats. Who's saying we can't address these structural problems this term? Democrats.

Republicans tried several times to sound the alarm on this. The Bush administration saw it in their first year, spoke about it, and tried to get democrat support for new regs. Denied. At least two separate bills were created and pushing in the senate to reign this in, but they were opposed and stopped by democrats each time (once in committee when dems had a majority and once via filibuster on the floor). Greenspan testified to the impending mess. The prior treasury secretary testified to it too. Ignored and derided as scare mongering and being racially motivated. Republicans and Bush failed to recognize the scale of the problem soon enough and didn't bring their case to the people in a strong enough way. But they can not be faulted nearly to the degree dems can be on this given their intransigence in acknowledging the problem, much less being willing to take any action.

F*#@! How is this not glaringly obvious to everyone in this country?

And now we have the Euro-socialists and Chi-coms clamoring for one world currency and a UN administered (an organization accountable to no one and elected by no one, mind you), globally harmonized, world financial system?! And we're on the virge of electing the crypto-socialist radical Barack Obama and handing democrats filibuster proof majorities in both houses!? These are people that idolize FDR despite his horrendous policies leading to a multi-decade depression. These are the people that are going to fix things? The very same people who set and maintained this financial time bomb? You have got to be kidding me? How is anyone in the country buying this?

Sorry for the rant. I just can not believe the mythology that is being created about this mess. I can't believe McCain isn't unloading on this. His campaign is letting each charge of deregulation, republican blame, market blame, and his own personal blame sail by. I don't get it. His moment is now. Time for him to fight! Just as he asked of his supporters at the end of his convention speech.
pvolcko
 

Re: Crisis Timeline, an Indictment

PostBy: djackman On: Sun Oct 05, 2008 2:54 am

In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade.


http://www.whitehouse.gov/news/releases ... 809-9.html

Blame goes all around.

Dems or Repub's, Social welfare or Corporate welfare - no real difference in the current one party system.

Both parties have a single goal of eliminating the middle class and returning to a more or less feudal society.
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Re: Crisis Timeline, an Indictment

PostBy: Richard S. On: Sun Oct 05, 2008 5:25 am

Agreed there is plenty of blame to go around but home ownership saw a significant spike after Clinton took office and changed the CRA status. Nice stats if the people buying were actually able to afford them.
Last edited by Richard S. on Thu Dec 12, 2013 4:54 am, edited 1 time in total.
Reason: <removed dead link>
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Re: Crisis Timeline, an Indictment

PostBy: Duengeon master On: Sun Oct 05, 2008 7:16 am

:gee: Why is it that a republican can easily trash another republican as well as a democrat when they F--- up. Yet a democrat can only trash a republican. Democrats seem to be able to do no wrong. Admitting or exposing that something is wrong seems like an insult to a liberal especially facing real indisputable facts. Admitting to a problem is the first step to a solution. :)
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Re: Crisis Timeline, an Indictment

PostBy: chemung On: Sun Oct 05, 2008 11:27 am

pvolcko wrote:
How is anyone in the country buying this?


For sure I'm not buying it.

Sorry for the rant. I just can not believe the mythology that is being created about this mess. I can't believe McCain isn't unloading on this. His campaign is letting each charge of deregulation, republican blame, market blame, and his own personal blame sail by. I don't get it. His moment is now. Time for him to fight! Just as he asked of his supporters at the end of his convention speech.


Don't be sorry. I can't agree more with this.
chemung
 

Re: Crisis Timeline, an Indictment

PostBy: spc On: Tue Oct 07, 2008 6:54 pm

No scheduled hearings on Fannie and Freddie. What a shock. :shock:

“The reason we haven’t scheduled hearings on these two institutions and haven’t requested documents from either is because their demise isn’t someone else’s fault — it’s ours, and we don’t want to own up to it.” -Christopher Shays

Video: http://www.c-spanarchives.org/library/i ... op=8078.66

“Any hearing on oversight that does not begin with Fannie and Freddie and [former Fannie Mae CEO] Franklin Raines will be a sham,” said Rep. John Mica (R-Fla.). “This is like investigating a train robbery and only talking to the dining car stewards.”


http://thehill.com/leading-the-news/barbs-traded--at-hearing-on-lehmans-fall-2008-10-06.html
This link is broken, either the page no longer exists or there is some other issue like a typo.


Thank you Chairman Henry Waxman (D-Calif.) :down:
spc
 
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Re: Crisis Timeline, an Indictment

PostBy: orvis On: Wed Oct 08, 2008 5:04 pm

Richard, A lot of us have Devil on our "ignore post" list.
If you could add a feature where we could ignore *threads* started by Devil when we look at new posts, I for one would have lower blood pressure. I would like nothing better than to read threads started by normal people. Or even abe-normal people. Sadly, I am drawn like a moth to a flame to rebut idiocy. It is a weakness of mine. I wish I had the willpower to ignore it, but regretably I do not. Help me, Father. :|

As they say, a Troll and a really stupid ex-DEA agent with brain damage are indistinguishable online.
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Re: Crisis Timeline, an Indictment

PostBy: Devil505 On: Wed Oct 08, 2008 5:14 pm

orvis wrote:As they say, a Troll and a really stupid ex-DEA agent with brain damage are indistinguishable online.


A very mature , intelligent & worthwhile post for the anthracite coal forum orvis.
Here..........you may need these when Mommy tucks you into bed..... :baby: :baby: :baby:


BTW....Do you happen to have any knowledge or information about things like............. COAL to share with us?
Last edited by Devil505 on Wed Oct 08, 2008 5:22 pm, edited 1 time in total.
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Re: Crisis Timeline, an Indictment

PostBy: Richard S. On: Wed Oct 08, 2008 5:21 pm

Please keep the personal comments to yourself.
Richard S.
 
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