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Kucinich to Investigate Fannie/Freddie Bailout

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posted on Dec, 30 2009 @ 06:16 PM
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Just got this off myspace Ron Paul thanking Kucinich.




As Chairman of the Domestic Policy Subcommittee of the Committee on Oversight and Government Reform, I’m announcing that the Subcommittee will launch an investigation into the Treasury Department’s recent decision to lift the current $400-billion cap on combined federal assistance to Fannie Mae and Freddie Mac, opening the way for additional, unlimited funds through the end of 2012. This investigation will include the role played by Fannie Mae chief executive Michael J. Williams and Freddie Mac chief executive Charles E. Haldeman in the decision, if any, and will seek to ensure that the additional assistance is used for homeowners and not Wall Street.

Many questions remain unanswered regarding this move by the Treasury. Why suddenly remove the cap? Indications are that Freddie and Fannie, even as millions of Americans lose their homes, have used just $111 billion of the $400 billion previously available to them. Is lifting the cap on assistance a back-door TARP?

Additionally, I want to determine whether Fannie and Freddie have a cohesive plan to buy up the under-performing mortgages that remain on the books of the big banks, at appropriate prices, and undertake a massive reworking of the terms of the mortgages so as to stem the foreclosure crisis that continues to plague our country.This new authority must be used responsibly and for the benefit of American families. This cannot be used simply to purchase toxic assets at inflated prices, thus transferring the losses to the U. S. taxpayers and acting as a back-door TARP.




This is going to be good i hope read the rest of the story!
Full Story



[edit on 30-12-2009 by OpTiMuS_PrImE]




posted on Dec, 30 2009 @ 06:32 PM
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Go Kucinich


Go Paul



posted on Dec, 30 2009 @ 07:12 PM
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reply to post by Janky Red
 


I know can't wait to see whats going to be going on with all this now, wonder how much fraud and goodies will be found



posted on Dec, 31 2009 @ 12:20 AM
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The sky's the limit, is as close as I can guess.
Just imagine all the little minds at the VP level, on the taxpayer's dime, figuring out their own little ways to bump up their budgets.
This will lead to big things, you can just feel it. It really seems like there will be 'changes' made, as compared to say... an investigation by The House Ways and Means Committee.



posted on Dec, 31 2009 @ 12:24 AM
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Originally posted by OpTiMuS_PrImE
reply to post by Janky Red
 


I know can't wait to see whats going to be going on with all this now, wonder how much fraud and goodies will be found


Under the carpet I fear, likely too many implicated




posted on Dec, 31 2009 @ 12:41 AM
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Originally posted by OpTiMuS_PrImE




Many questions remain unanswered regarding this move by the Treasury. Why suddenly remove the cap? Indications are that Freddie and Fannie, even as millions of Americans lose their homes, have used just $111 billion of the $400 billion previously available to them. Is lifting the cap on assistance a back-door TARP?


Red is me being interesting in pretty colors.. So ANYWAY..

SO 400 billion dollars to bail out said banks.. Instead of helping the people.. I am sure the people could have done alot better with 400 billion dollars..

Statistics time..

306 million people in the US right now according to the census. That would give the american people rougly 13 billion dollars each..

I am also sure all of the houses in the United states dont cost 400 billion dollars...

Interesting that.

[edit on 12/31/2009 by ThichHeaded]



posted on Dec, 31 2009 @ 12:51 AM
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Originally posted by ThichHeaded

Originally posted by OpTiMuS_PrImE




Many questions remain unanswered regarding this move by the Treasury. Why suddenly remove the cap? Indications are that Freddie and Fannie, even as millions of Americans lose their homes, have used just $111 billion of the $400 billion previously available to them. Is lifting the cap on assistance a back-door TARP?


Red is me being interesting in pretty colors.. So ANYWAY..

SO 400 billion dollars to bail out said banks.. Instead of helping the people.. I am sure the people could have done alot better with 400 billion dollars..

Statistics time..

306 million people in the US right now according to the census. That would give the american people rougly 13 billion dollars each..

I am also sure all of the houses in the United states dont cost 400 billion dollars...

Interesting that.

[edit on 12/31/2009 by ThichHeaded]


well I get $1307.19 each

www.google.com...


but it would still be better if that money could be directly injected by paying off debt, mortgages, etc...




posted on Dec, 31 2009 @ 02:08 AM
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reply to post by Janky Red
 


Thats wrong its not 1307 dollars..

306 million would be 306 million divided by 1.. It cant go lower..

3 billion divided by 300 million would be 10 ten I am right I also said around 13 billion each so I didnt or wasnt far off.

4 billion divided by 300 million = 13.3333333

thats 13 billion.. not 13..

this..

4 billion divided by 306 million = 13.0718954

13.07 billion... I am assuming 13,007,189..

Cant remember that part..

Anyway I am right 13 billion would be better spent in the peoples hands than the banks hands.. regardless if its 13 cents or 13 bucks or 13 billion bucks..



posted on Dec, 31 2009 @ 02:49 AM
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Originally posted by ThichHeaded
reply to post by Janky Red
 


Thats wrong its not 1307 dollars..

306 million would be 306 million divided by 1.. It cant go lower..

3 billion divided by 300 million would be 10 ten I am right I also said around 13 billion each so I didnt or wasnt far off.

4 billion divided by 300 million = 13.3333333

thats 13 billion.. not 13..

this..

4 billion divided by 306 million = 13.0718954

13.07 billion... I am assuming 13,007,189..

Cant remember that part..

Anyway I am right 13 billion would be better spent in the peoples hands than the banks hands.. regardless if its 13 cents or 13 bucks or 13 billion bucks..





???

don't get your math

My idea was

divide

$400,000,000,000.00 (four hundred billion)

by

306,000,000 (three hundred and six million) people

www.google.com...

Or copy and paste this into google and press enter/return

400 billion divided by 306 million



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