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Posts Tagged ‘Fannie Mae’

Jon Christian Ryter — How Wall Street Hijacked TARP

August 1, 2012 Leave a comment

 

Neil Barofsky, a lifetime Democrat, was picked by then-President George W. Bush (on the advise of his Treasury Secretary Henry Paulson) to police how the banks spent the $700 billion in TARP economic stimulus funds that should have helped the United States avert the recession that all Americans now suffer under. Testifying before the Senate Finance Committee on April 20, 2010, Barofsky said: “To declare TARP a success is revisionist history. TARP was supposed to restore lending, and that didn’t happen.”

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Deliberately Destroying America…

June 17, 2012 4 comments

By Alan Caruba Sunday, June 17, 2012

It has taken three and a half years into Barack Obama’s presidency for most Americansto realize that he has been deliberately destroying America by driving up the nation’s debt and deficit, reducing privately held wealth, forcing millions onto the public dole, undermining its moral structure, and weakening the nation’s reputation internationally..

realobam

realobam (Photo credit: GunnyG1345)

 

His latest lie is that “the private sector is doing just fine”, but the numbers tell the whole story and one can find them on an excellent blog, Economic Collapse, that offers seventy examples:

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January Surprise: Is Obama preparing a trillion-dollar, mass refinancing of mortgages?

January 5, 2012 1 comment

January Surprise: Is Obama preparing a trillion-dollar, mass refinancing of mortgages?

Barack ObamaThe American Enteprise Institute ^ | January 4, 2012 | James Pethokoukis

Posted on Wednesday, January 04, 2012 10:46:26 PM by AU72

This could be just the beginning. If President Barack Obama’s legally dodgy appointment of Richard Cordray to head the consumer finance agency should stick, it may open the door to more such actions. Here’s Jaret Seiberg of the Washington Research Group:

To us, the most important takeaway from a recess appointment of Cordray is that the President could use this same maneuver to put a housing advocate in charge of FHFA.

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American Wealth Eroding by Bill Sardi

December 31, 2011 1 comment

Today’s Presidential campaign sounds more like a horse race.

http://oi43.tinypic.com/21d4p52.jpg

“The horses are entering the starting gate. Jockeys to watch are top-tier picks Romney, Gingrich and Perry, sporting 6-to-1, 5-to-1 and 4-to-1 odds respectively. But there’s a slight delay. Perry’s horse, a Texas stallion, is kicking and the stewards are having a difficult time getting him into the gate.

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The Case for Austerity by Andrew P. Napolitano

December 29, 2011 1 comment

Unlike an individual or a well-run corporation, government is not motivated by how efficient it can be, but rather by how lucrative it can be for those associated with it, and how those who run the government can stay in power.

English: Judge recording an episode of at CPAC...

Image via Wikipedia

Someone who was philosophically opposed to government domination of the housing market wouldn’t perpetuate it by taking one red penny of taxpayer money from Fannie Mae and Freddie Mac, like the former Speaker did, whether he calls himself a historian or a lobbyist. Someone philosophically opposed to government domination of the health care market would never offer up government as the solution to the problem of the uninsured, like the former governor of Massachusetts did, since the problem of the uninsured was created by government’s involvement in the health care market in the first place.

The federal government does not need an efficient manager. That’s a pipe dream based on the noble but flawed premise that government can be made to operate as a business. It cannot. Business is subject to the forces of free choice, supply and demand, and competition. Can you imagine government subjecting itself to the forces of competition? Can you imagine government permitting us to ignore it?

The government’s biggest sacred cow is the Pentagon. The mere thought of reductions in the growth of defense spending has the Washington careerists screaming bloody murder. Yet military expert after military expert, not connected to the Pentagon and not employed in the defense industry, has told us that austerity will force the government to do what Congress lacks the political courage to do. Stated differently, we will keep spending on bases we don’t need, on planes that sit unused in hangars and on military hardware stored all over the world, and not for any national security interest, but simply because a congressman earmarked it – unless we get serious about our future.

A dollar of military spending is not a dollar of military strength, but it is a dollar into the coffers of those who contribute to congressional campaigns. Which is the greater threat to our national security, an impoverished gaggle of Third World revolutionaries 10,000 miles away, or our national debt? The answer is obvious…..

EXCERPT

via The Case for Austerity by Andrew P. Napolitano.

 

The Daily Bell – Let Paulson Go … And Free the Alternative Media, Too!

November 30, 2011 Leave a comment

How Paulson Gave Hedge Funds Advance Warning … After a perfunctory discussion of the market turmoil, the fund manager says, the discussion turned to Fannie Mae and Freddie Mac. Paulson said he had erred by not punishing Bear Stearns shareholders more severely.

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Busted: Proof Positive That Gingrich Supported Healthcare Mandates

November 20, 2011 Leave a comment

Busted: Proof Positive That Gingrich Supported Healthcare Mandates

Forbes ^ | 111911 | Rick Ungar

Gingrich's official portrait as Speaker

Image via Wikipedia

Posted on Sunday, November 20, 2011 2:15:15 AM by Fred

As Newt Gingrich takes his turn as the GOP flavor of the week, all that baggage he carries is beginning to be opened, unpacked and examined like a tourist going through customs on a slow day at the airport.

The past few days have shined a light on Newt’s relationship with Freddie Mac and Fannie Mae, the quasi-governmental agencies that Gingrich has been hammering for their role in the nation’s mortgage meltdown. Yet, it turns out that Gingrich’s consulting firm accepted a sum well in excess of one million dollars from these same agencies to push their agenda with his Republican buddies on the Hill.

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