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Fanny Mae Obama contributions

Discussion in 'U.S. Politics' started by Libsmasher, Sep 29, 2008.

  1. Libsmasher

    Libsmasher New Member

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    As I and others have been saying, the democrats fingeprints are ALL OVER the credit crisis when one looks at the FACTS. One of the biggest instigators of the crisis, Fanny Mae, a HUGE backer of sub-prime loans, gave none other than OBAMA it's second highest political contributions. That the lib media is getting away with making ordinary people believe that the republicans are responsible for the credit crisis is shaping up to be one of the biggest lib media fraudulent acts of all time.

     
  2. Pandora

    Pandora Well-Known Member

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    No republican should vote for this bail out. Dems have the votes to do it on their own, let them. and we can remember who screwed things up and who screwed the people over. It is better if that happens with people who dont have an R behind any names
     
  3. Popeye

    Popeye Active Member

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    A lot of Democrats didn't like this bailout plan either...65 Republicans joined 140 Democrats in voting "yes," while 133 Republicans and 95 Democrats voted "no."
     
  4. Pandora

    Pandora Well-Known Member

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    I know, I understand it was your more conservative dems that did not vote.

    If pelosi is so good she can whip her boys into voting for it. But no republican should touch it with a ten foot pole.
     
  5. Popeye

    Popeye Active Member

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    Many progressive Democrats opposed the bill, Dennis Kucinich for example, because they felt it was too much of a giveaway to the same people that got us in this mess.

    Kucinich opposes bailout
     
  6. Pandora

    Pandora Well-Known Member

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    Then lets just scrap it, if they cant get enough dems to vote for it then no one should.

    I think Maxine Waters, Chris Dodd and Barney Frank and a few others who openly spoke for Fannie and would not let them be regulated should be fired with no retirement.

    and if you can find any republican who defended fanny or freddy along with that crowd toss them out on their useless butt too!
     
  7. Libsmasher

    Libsmasher New Member

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    Apparenrtly you are not in the stock market. :rolleyes:

    Do you have a job? When you and millions of others are given the boot because of credit market illiquidity, will you feel the same?
     
  8. Pandora

    Pandora Well-Known Member

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    I am but I dont personally do it, my pers and 401k does it for me. I STUPIDLY picked 75 percent variable and 25 fixed. I am losing so much that its sad, I mean really sad.

    BUT

    I am mad as heck and I dont want to bail out those idiots!!!
     
  9. Libsmasher

    Libsmasher New Member

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    It's not bailing out the idiots, it's rescuing your job and 401K! Did you ever hear of "cutting off your nose to spite your face"?? :rolleyes:
     
  10. Veri Pax

    Veri Pax New Member

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    I doubt that'll work anyway. In my belief the market has crossed the line from borderline into decline. The bail-out may steady a few firms but overall we will continue to watch companies collapse over the next few months. That being said we cannot afford to spend a trillion dollars each time it happens. We now need to rely on our system to balance itself out as it always has, with American ingenuity. What I would stress at this point would be efforts to boost confidence and activity in the market itself, like cap gains cuts and a halt on the gas tax. one thing is certain, the government needs to stay out! And that means saying no to these so called "rescue plans."
     
  11. Pandora

    Pandora Well-Known Member

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    it only seems to be getting worse, except we got hosed for billions
     
  12. BigRob

    BigRob Well-Known Member

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    The US bailout is not going to save the stock market. European and Asian markets are still feeling the same credit crunch which carries back over to the US regardless.

    While "bailout" might not be the right term here, it still is a short term fix for a long term problem. Which would you prefer, recession now with a tanked market, or 10 years from now when you are older and closer to retiring?

    Myself being young, I vote for just let it all happen now. Creates a lot of good buying opportunities too.

    That said, how on earth did you put money in the stock market and expect to never see a downturn? That is quite frankly naive. I have lost thousands upon thousands of dollars as the market fell, but I have also bought a lot more stock as it has gone done.

    The market can get worse (and in my opinion most likely will) but what I will say about long term in the stock market, it will get better.
     
  13. Veri Pax

    Veri Pax New Member

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    Exactly. this is why we need to cut capital gains taxes now, to let people use this situation as best they can, so a foundation is laid out on which we can rebuild.
     
  14. Pandora

    Pandora Well-Known Member

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    The problem is to get the liberals in congress to agree to cutting capital gains tax they would have to agree to give free toilet paper to everyone in some state and free q tips to people in another.

    they wont just let it be cut becuase its right, they have to have some give away pork project with everything.
     
  15. top gun

    top gun New Member

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    The truth is Big Business gives to both sides to pad their bets. This Fannie/Freddie thing didn't just now pop up. It's an ongoing process.

    Published by Lindsay Renick Mayer on July 16, 2008

    (For an updated chart that includes contributions from Freddie Mac and Fannie Mae's PACs and employees to ALL lawmakers back to 1989, including to their leadership PACs, go here.) and data The federal government recently announced that it will come to the rescue of Freddie Mac and Fannie Mae, two embattled mortgage buyers that for years have pursued a lobbying strategy to get lawmakers on their side. Both companies have poured money into lobbying and campaign contributions to federal candidates, parties and committees as a general tactic, but they've also directed those contributions strategically. In the 2006 election cycle, Fannie Mae was giving 53 percent of its total $1.3 million in contributions to Republicans, who controlled Congress at that time. This cycle, with Democrats in control, they've reversed course, giving the party 56 percent of their total $1.1 million in contributions. Similarly, Freddie Mac has given 53 percent of its $555,700 in contributions to Democrats this cycle, compared to the 44 percent it gave during 2006.
     
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