Government Manipulation? You Decide...

Article:

Fannie, Freddie Were at Center of Financial Crisis But Are Not Included in Obama’s New Financial Regulations
Friday, June 19, 2009
By Matt Cover

(CNSNews.com) - Fannie Mae and Freddie Mac, the two government-run mortgage giants, are absent from the Obama administration’s sweeping new financial regulations, despite the fundamental role played by both organizations in the financial system’s collapse.

Testifying before the Senate Banking Committee on Thursday, Treasury Secretary Tim Geithner said that the administration’s new regulations were only meant to address the most fundamental issues of the recession.

During Geithner’s Senate testimony, he admitted that both Fannie and Freddie played a central role in the financial crisis, telling Sen. David Vitter (R-La.) that the two government-sponsored enterprises (GSE) were a “core part” of the country’s financial woes.

“Absolutely,” Geithner said. “Fannie and Freddie were a core part of what went wrong in our system.”

This is absolutely one of the most audacious acts I have seen in a long time...

The two nefarious partners that were the proverbial straw on the camels back, are not going to be subject to the government regulations designed to prevent exactly what they started!!!

Why?

Well it is my opinion it is all about the money...

Freddy and Fannie brought a ton of money into the Democrat Party for years and years. Face it, the Republicans tried for years to warn the Democrats about the pending disaster being facilitated by Freddy and Fannie; and each time the Democrats shouted them down and accused them of being prejudiced and "against the poor"...

Well we see what happened the last time Freddy and Fannie went unchecked, I guess the current administration is OK with that...

Semper

it just hit me,,, reading your thread,,,,,

today people love to throw that term socialism around quite a bit,,,,, maybe a bit to much


but here was fannie/ freddie----- giving homes to the poor,,,, or the unqualified,,,,
doing that helped bring the system down
and now everyone is losing there homes

that is socialism

we gave the unfortunate homes,,,, and now everyone is paying for that

granted there's way more angles to it and blame to go around,,, but that's it in a nutshell

reply to post by shortywarn


In real life yes, that is exactly what it is. There are people that will argue with you and tell you that it isn't socialism because it doesn't fit the Utopian dream that they have been sold, but yes that is socialism in the real world.

__________

And this is absolutely despicable. All new financial regulations, but they are going to exempt their buddies.

I have a brilliant Idea, how about get rid of stupid regs like the CRA and reinstate glass-steagle(sp?). The last thing we need is more regulations and laws when the government isn't even enforcing the ones we have now.

reply to post by Hastobemoretolife


It's all about regulating those that DON'T agree with you and leaving those that do, to continue to support your ideals..

Obama's administration is certainly not the first to do this, but they are perhaps the first to do it with the intent of moving the Socialist agenda forward.

reply to post by semperfortis


Didn't ever think of it that way, but now that you mention it that makes it easier to understand and explain to other people.

This ticks me off to no end.

reply to post by semperfortis


Heh, did you expect anything other than this from the U.S. government? Yeah, it moves, regulate it. It stopped moving, inject more "cash" into it. Let it die.

Originally posted by Hastobemoretolife
reply to post by shortywarn

 

In real life yes, that is exactly what it is. There are people that will argue with you and tell you that it isn't socialism because it doesn't fit the Utopian dream that they have been sold, but yes that is socialism in the real world.

__________

And this is absolutely despicable. All new financial regulations, but they are going to exempt their buddies.

I have a brilliant Idea, how about get rid of stupid regs like the CRA and reinstate glass-steagle(sp?). The last thing we need is more regulations and laws when the government isn't even enforcing the ones we have now.

exactly,,,,the free market would have punished these greedy co's because they would have went bankrupt,,, and the little banks, and businesses that did it right would have grown and picked up where they overextended and cheated
only problem,,,, we bailed them all out, and basically forgave their greed
and now the little, local banks who played by the rules are hurting even more because of increased scrutiny and fear, credit

also,, remember mcCain(mcSame),,, his campaign reform bill,,, it didn't reform crap,, it's actually made things worse


ps,,,, i vote ron paul
i hate dems and repubs equally

Semper,

Fannie and Freddie played a big role in it, lol. Maybe the government deregulation of banks wasn't a great idea after all. Same people that are pointing fingers are the ones guilty of this mess.

I am seeing a very dangerous pattern. I have a lot of articles, documentation, lawsuits against the federal reserve, but they seem untouchable and are gaining strength.

Here is the latest article I found it seem almost like a carbon copy of what happen last year.

www.abovetopsecret.com...

[edit on 22-6-2009 by Realtruth]

reply to post by semperfortis




From your article in OP...

The absence of either Fannie or Freddie is notable, because the two companies once owned or controlled nearly $6 trillion worth of home and commercial mortgages, nearly half of the total U.S. mortgage market – and both companies were pioneers of the now infamous sub-prime mortgages that caused the mortgage market to implode late last year.

Yep...nothing to see here folks...move along now...


This is definitely a set up....total manipulative "negligent oversight"!

The article says Timmy hopes to have some grip on it in 2010...or at least an idea of what they might want to do in 2010.

Oh...the leisure of government!