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Old March 5th 11, 01:21 AM posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
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Default The Truth About Fannie and Freddie’s Role in the Housing Crisis

?baMa? Tse Dung wrote:
Separating economic myth from economic fact

Myth 1: The government-sponsored housing finance companies Fannie Mae
and Freddie Mac had nothing to do with the housing crisis. They were
simply innocent bystanders caught in the crossfire. Economist and New
York Times columnist Paul Krugman, for instance, has argued that
Fannie and Freddie’s role in the housing market was insignificant
between 2004 and 2006 because “they pulled back sharply after 2003,
just when housing really got crazy.” According to Krugman, Fannie and
Freddie “largely faded from the scene during the height of the housing
bubble.”

Fact 1: Fannie and Freddie contributed to the housing crisis by making
it easier for more people to take out loans for houses they could not
afford. Beginning in 2000, Fannie and Freddie took on loans with low
FICO scores, loans with low down payments, and loans with little or no
documentation.


Fannie Mae is a loan guarantor. She doesn't make loans. Investment banks
crashed the economy. Blame it on Phil Gramm and Bill Clinton, and "W"
for looking the other way.
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Old March 5th 11, 01:55 AM posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
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Default The Truth About Fannie and Freddie’s Role in the Housing Crisis


Fannie Mae is a loan guarantor. She doesn't make loans.


Man, you are the biggest moron that graduated from a California public
school.

The Trillion-Dollar Bank Shakedown
http://www.city-journal.org/html/10_...on_dollar.html

http://www.youtube.com/watch?v=_MGT_cSi7Rs

The Real Culprits In This Meltdown - Clinton Democrats
http://www.investors.com/NewsAndAnal...-Meltdown.aspx

Andrew Cuomo and Fannie and Freddie
How the youngest Housing and Urban Development secretary in history
gave birth to the mortgage crisis
http://www.villagevoice.com/content/printVersion/541234
http://en.wikipedia.org/wiki/Andrew_Cuomo

Bankrupt "Exploiters"
http://www.townhall.com/columnists/T...upt_exploiters
http://www.townhall.com/columnists/T...oiters_part_ii

How "Smart Growth" Exacerbated the International Financial Crisis
http://www.heritage.org/Research/Economy/wm1906.cfm

How U. S. Land Use Restrictions Exacerbated the International Finance
Crisis
http://www.demographia.com/db-overhang.pdf

Who is to blame?
http://cafehayek.typepad.com/hayek/2...-to-blame.html
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Old March 5th 11, 02:41 PM posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
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Default The Truth About Investment Bankers’s Role in the Housing Crisis

On 03/04/2011 05:55 PM, Chas. Chan wrote:

Fannie Mae is a loan guarantor. She doesn't make loans.


Man, you are the biggest moron that graduated from a California public
school.

I never graduated.

"[...]So if a politician voiced an opposition point of view, and some
did, there was a real risk of them being beat down by an opponent
financed by the financial industry. Doesn’t that kind of weaken the
ability to have a real discussion?

Absolutely. There’s a chilling effect. One of our commissioners,
Brooksley Born, she’s the classic case. Brooksley Born was appointed by
[President Bill] Clinton in 1996 to head the Commodity Futures Trading
Commission. She was one of our 10 commissioners. From 1994 to 1996 or
1997, there were a series of scandals involving the highly risky use of
the over-the-counter derivatives; these are the ones not traded on the
Chicago Board of Trade and the commodity exchanges. There was a big
scandal at Procter & Gamble with Sumitomo Bank. So Brooksley Born, as
chair of that commission, stepped forth and said, “I think we ought to
discuss whether these over-the-counter derivatives”—which ultimately
grew to this multitrillion-dollar industry by the time of the
crisis—“should be regulated.” She put out a concept paper to discuss it.

Well, she was immediately shut down by the powers that be. It was
[former Chairman of the Federal Reserve] Alan Greenspan, it was [former
Secretary of Treasury] Robert Rubin, it was [former Securities and
Exchange Commission Chairman] Arthur Levitt, it was [former Secretary of
Treasury] Larry Summers and it was the financial industry. And they
essentially put a stop, they went to Congress and said that Congress
ought to adopt a moratorium on any regulation—and then two years later,
they got a complete ban on regulation. So this is an example where
someone stood up, said the right thing and was put down for it. But this
should be a constant source of concern, because also more and more power
is concentrated in fewer and fewer banks. Between 1990 and 2005, I
believe the top 10 banks in the country, their share of assets grew from
25 percent to 55 percent. After the crisis now, we have fewer big banks,
because Lehman [Brothers] went under, Bear Sterns went under, Merrill
Lynch merged with Bank of America. The concentration of power by fewer
banks is even greater today.[...]"
http://www.newsreview.com/sacramento...nt?oid=1923599
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Old March 5th 11, 02:50 PM posted to rec.radio.shortwave
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Default The Truth About Investment Bankers’s Role in theHousing Crisis



dave wrote:

On 03/04/2011 05:55 PM, Chas. Chan wrote:

Fannie Mae is a loan guarantor. She doesn't make loans.


Man, you are the biggest moron that graduated from a California public
school.

I never graduated.

"[...]So if a politician voiced an opposition point of view, and some
did, there was a real risk of them being beat down by an opponent
financed by the financial industry. Doesn’t that kind of weaken the
ability to have a real discussion?

Absolutely. There’s a chilling effect. One of our commissioners,
Brooksley Born, she’s the classic case. Brooksley Born was appointed by
[President Bill] Clinton in 1996 to head the Commodity Futures Trading
Commission. She was one of our 10 commissioners. From 1994 to 1996 or
1997, there were a series of scandals involving the highly risky use of
the over-the-counter derivatives; these are the ones not traded on the
Chicago Board of Trade and the commodity exchanges. There was a big
scandal at Procter & Gamble with Sumitomo Bank. So Brooksley Born, as
chair of that commission, stepped forth and said, “I think we ought to
discuss whether these over-the-counter derivatives”—which ultimately
grew to this multitrillion-dollar industry by the time of the
crisis—“should be regulated.” She put out a concept paper to discuss it.

Well, she was immediately shut down by the powers that be. It was
[former Chairman of the Federal Reserve] Alan Greenspan, it was [former
Secretary of Treasury] Robert Rubin, it was [former Securities and
Exchange Commission Chairman] Arthur Levitt, it was [former Secretary of
Treasury] Larry Summers and it was the financial industry. And they
essentially put a stop, they went to Congress and said that Congress
ought to adopt a moratorium on any regulation—and then two years later,
they got a complete ban on regulation. So this is an example where
someone stood up, said the right thing and was put down for it. But this
should be a constant source of concern, because also more and more power
is concentrated in fewer and fewer banks. Between 1990 and 2005, I
believe the top 10 banks in the country, their share of assets grew from
25 percent to 55 percent. After the crisis now, we have fewer big banks,
because Lehman [Brothers] went under, Bear Sterns went under, Merrill
Lynch merged with Bank of America. The concentration of power by fewer
banks is even greater today.[...]"
http://www.newsreview.com/sacramento...nt?oid=1923599


Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.


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Old March 6th 11, 02:33 PM posted to rec.radio.shortwave
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Default The Truth About Investment Bankers's Role in the Housing Crisis

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.


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Old March 6th 11, 02:35 PM posted to rec.radio.shortwave
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Default The Truth About Investment Bankers's Role in the Housing Crisis



dave wrote:

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.


We have nice weather here as well. Unfortunately it's cold nice weather!

But, the hummingbirds will return in the next 6 to 7 weeks, as will the summertime
static :-(


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Old March 6th 11, 07:16 PM posted to rec.radio.shortwave
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Posts: 5,185
Default The Truth About Investment Bankers's Role in the Housing Crisis

On 03/06/2011 06:35 AM, dxAce wrote:


dave wrote:

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.


We have nice weather here as well. Unfortunately it's cold nice weather!

But, the hummingbirds will return in the next 6 to 7 weeks, as will the summertime
static :-(


We have hummingbirds now.
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Old March 6th 11, 06:05 PM posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
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Default The Truth About Investment Bankers’s Role in the Housing Crisis

On Mar 5, 8:41*am, dave wrote:
On 03/04/2011 05:55 PM, Chas. Chan wrote:

Fannie Mae is a loan guarantor. She doesn't make loans.


Man, you are the biggest moron that graduated from a California public
school.


I never graduated.


Did you tell your mommy?
  #9   Report Post  
Old March 5th 11, 08:56 AM posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
RHF RHF is offline
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Default Fannie Mae & Freddie Mac : Millions In Executive Bonuses To Managers

On Mar 4, 5:21Â*pm, dave wrote:
?baMa? Tse Dung wrote:
Separating economic myth from economic fact


Myth 1: The government-sponsored housing finance companies Fannie Mae
and Freddie Mac had nothing to do with the housing crisis. They were
simply innocent bystanders caught in the crossfire. Economist and New
York Times columnist Paul Krugman, for instance, has argued that
Fannie and Freddie s role in the housing market was insignificant
between 2004 and 2006 because they pulled back sharply after 2003,
just when housing really got crazy. According to Krugman, Fannie and
Freddie largely faded from the scene during the height of the housing
bubble.


Fact 1: Fannie and Freddie contributed to the housing crisis by making
it easier for more people to take out loans for houses they could not
afford. Beginning in 2000, Fannie and Freddie took on loans with low
FICO scores, loans with low down payments, and loans with little or no
documentation.


Fannie Mae is a loan guarantor. She doesn't make loans. Investment banks
crashed the economy. Blame it on Phil Gramm and Bill Clinton, and "W"
for looking the other way.

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