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Fannie mae and freddi mac swindlers escape justice

Discussion in 'U.S. Politics' started by Jeugenen, Jul 23, 2008.

  1. Jeugenen

    Jeugenen New Member

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    Fannie May and Freddi Mac Swindlers Escape Justice

    It is notoriously suspect that the Subprime Lending and Stock Trading Scam on the American People was shrewdly pulled off by crooked lobbies working in collusion with the Bush, Reid, and Pelosi Government, who systematically allowed control to be taken away from the regulatory Office of Federal Housing Enterprise Oversight over the government buyers of "conforming" housing loans, Fannie Mae and Freddie Mac.

    Criminal investigations leading to heavy fines, long prison sentences, and a full recovery of the assets stolen from the America People are imperative, to sustain honest government; rather that the proposed ruinous inflationary government bail-outs so desperately proposed by Podhoretz Neo-Con Bush.
     
  2. Andy

    Andy Well-Known Member

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    Fannie Mae, was a socialist program, created under the "New Deal" that promoted borrowing money to buy things you can't afford. In order to hide the money loss of the programs, and remove it from the federal budgets, it was "spun off" into a 'semi-private' corporation, just like Freddi Mac.

    Both are not, nor ever were completely private. They both enjoyed Government sponsored enterprise status, which gave them amazing freedom to avoid regulations and restrictions, as well as taxes, that other companies must deal with.

    What are the automatic inherent attributes of a government programs? Corruption, Fraud, Waste, Swindlers, and injustice.

    If the government were to have fully divested itself of these back in 2000, the liberals and many 'conservative' would have screamed about how Bush was holding the little guy down (even thought Clinton was still in office in 2000), and how the corporations were preventing people from getting loans, and how the evil repugs were stopping people from borrowing money they couldn't afford to borrow, to buy houses they couldn't afford to buy!

    So instead, government gave you what you wanted, sub-prime loans for homes you had no business buying... now who's fault is it?

    Government and Fraud, Corruption, Waste, are automatic. If you want these programs, expect these results. You can't have a huge government with a program for everything and think that somehow there will not be any of these problems. History shows this to be true. Time to stop forgetting the past and blindly jumping in the same trap over and over.
     
  3. UShadItComing

    UShadItComing New Member

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    The most interesting thing about this tragedy is that Americans always interpret these things wrongly and never learn a lesson. It's a slow process I guess.

    BigRob, you will enjoy this because it ties in nicely with what we were talking about. Isn't it sad though that the little guy will blame his government for what was corrupt capitalism gone rabid.
     
  4. GenSeneca

    GenSeneca Well-Known Member

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    Was it corrupt Capitalism that dragged Freddie and Fannie in front of the newly elected Democrat Controlled Congress, where they demanded that Freddie and Fannie loosen restrictions on lending, and threatened to have them shut down if they didn't begin issuing more high risk loans?

    Was it corrupt Capitalism that made lenders LIE on their applications, knowing they couldn't possibly pay back the money but taking a gamble on being able to "flip" the house before the bills came due?

    Was it corrupt Capitalism that created this problem?

    Nope, it was government interference and I watched it all begin live on C-Span more than a year ago.
     
  5. UShadItComing

    UShadItComing New Member

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    Corrupt capitalists taking advantage of stupid little people who are trying to live the American dream. Only problem is Gen, it's all a dream now.
     
  6. GenSeneca

    GenSeneca Well-Known Member

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    Snappy rebuttal... Got anything from the Non-Fiction section you could recite?
     
  7. UShadItComing

    UShadItComing New Member

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    Ya know Gen, after I thought that one up I sat and congratulated myself for being so sharp.

    Nawwww, just kiddin. But ya know Gen, you people keep trying to avoid answering on the question of what you would do in the Bear-Stearns screwup. All I'm trying to establish is if your government wants rely on extreme leftist priniples such as the bailout then I wonder if you would think that some kind of mechanism should be put in place to make CEO's more responsible. I just don't understand why the American people should have to foot the bill the next time a US corp goes under.

    Simple really, if your gov wants to play with socialism when it appears that it's necessary then protect the people's interests. Our righties would never do it that way in Canada because our capitalists are held accountable.
     
  8. Libsmasher

    Libsmasher New Member

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    Exactly correct - they are semi-government entities, and when you go to the root of events like this, as with the S&L debacle in the 1980s, you always find the stupid clumsy hand of government.

    These institutions were supposed to uphold standards for the loans they bought and resold - why didn't they do it? On NBC tonight, they said the total national debt effect of this law, including $15 billion tax credits for the dumbassses who took out loans they couldn't pay, is $800 billion. NOW talk to me about the $1 billion a month iraq war and how terrible it is. People like me who pay all their debts on time now have to subsidize the idiots, and all this was passed by a DEMOCRAT CONGRESS.
     
  9. BigRob

    BigRob Well-Known Member

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    No one is guaranteed the American dream, it must be earned. Congress trying to ensure that everyone gets their share is stupid, people get their share when they earn it.
     
  10. UShadItComing

    UShadItComing New Member

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    What would you have done in the Bear-Stearns case libs? Don't want to play anymore?
     
  11. Libsmasher

    Libsmasher New Member

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    Incoherent.
     
  12. BigRob

    BigRob Well-Known Member

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    Let it go out of business and let the market correct itself.
     
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