Obama parties while America Burns

Come on now, you all... This is normal...everyone from the ghetto has to have their posse, entourage, and parties! Wait, Obama was never from the ghetto...(unless you consider Kenya a ghetto) What's his excuse?

Originally posted by nixie_nox
Again, if Obama didn't do anything, didn't invite anybody to the white house, he would of been accussed of being anti-social and elitist.

And who says they are even paying for this stuff? I think most bands probably play at the white house for free, the only thing covered is food.

And if the chefs are on salary, it doesn't matter if they cook or not.

????? Bands play at the white house for free? Is that what the Obamanites believe now?

I find it disturbing that he has so many followers that haven't seen through him yet. He's a joke. And the joke is on us - the American taxpayer.

Originally posted by EarthCitizen07

Originally posted by Stormdancer777
reply to post by EarthCitizen07

 

The evil Bush regime is kapoot

Time to enjoy the bashing of the new one.

However,I will try and find something good to say about Obama.

When he earns it.

Then why blame obama for paying bush administration "mistakes"

[edit on 3-3-2009 by EarthCitizen07]

OMG, how many times do we have to explain it?

www.opensecrets.org...

www.worldnetdaily.com...

Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008

Obama comes in third,
with
$105,849
bucks con/tributed, notice the word con?

Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings
gatewaypundit.blogspot.com...

For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted.

Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001.
Unfortunately, Congress did not act on the president's warnings:


** 2001

April: The Administration's FY02 budget declares that the size of Fannie Mae and Freddie Mac is "a potential problem," because "financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity."

** 2002

May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)

** 2003

January: Freddie Mac announces it has to restate financial results for the previous three years.

February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that "although investors perceive an implicit Federal guarantee of [GSE] obligations," "the government has provided no explicit legal backing for them." As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. ("Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO," OFHEO Report, 2/4/03)

September: Fannie Mae discloses SEC investigation and acknowledges OFHEO's review found earnings manipulations.

September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact "legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises" and set prudent and appropriate minimum capital adequacy requirements.

October: Fannie Mae discloses $1.2 billion accounting error.

November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any "legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk." To reduce the potential for systemic instability, the regulator would have "broad authority to set both risk-based and minimum capital standards" and "receivership powers necessary to wind down the affairs of a troubled GSE." (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)

** 2004

February: The President's FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: "The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator." (2005 Budget Analytic Perspectives, pg. 83)

February: CEA Chairman Mankiw cautions Congress to "not take [the financial market's] strength for granted." Again, the call from the Administration was to reduce this risk by "ensuring that the housing GSEs are overseen by an effective regulator." (N. Gregory Mankiw, Op-Ed, "Keeping Fannie And Freddie's House In Order," Financial Times, 2/24/04)

June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying "We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System." (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)

** 2005

April: Treasury Secretary John Snow repeats his call for GSE reform, saying "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system." (Secretary John W. Snow, "Testimony Before The U.S. House Financial Services Committee," 4/13/05)

** 2007

July: Two Bear Stearns hedge funds invested in mortgage securities collapse.

August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying "first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options." (President George W. Bush, Press Conference, The White House, 8/9/07)

September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.

September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.

December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying "These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I've called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon." (President George W. Bush, Discusses Housing, The White House, 12/6/07)

** 2008

January: Bank of America announces it will buy Countrywide.

January: Citigroup announces mortgage portfolio lost $18.1 billion in value.

February: Assistant Secretary David Nason reiterates the urgency of reforms, says "A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully." (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)

March: Bear Stearns announces it will sell itself to JPMorgan Chase.

March: President Bush calls on Congress to take action and "move forward with reforms on Fannie Mae and Freddie Mac.

[edit on 113131p://bWednesday2009 by Stormdancer777]

Top five all democrats

1. Dodd, Christopher J
S
D-CT
$133,900

2. Kerry, John
S
D-MA
$111,000

3. Obama, Barack
S
D-IL
$105,849

4. Clinton, Hillary
S
D-NY
$75,550

5. Kanjorski, Paul E
H
D-PA
$65,500

reply to post by Stormdancer777


if the top 5 are all Democrats, then why are they whooping it up so much, One would think that reason would kick in and a sense of self preservation, stop the outlandish lifestyle long enough to keep the general populous under control, then party when you have that control, not before, thereby enraging everyone further?

Makes little to no sense unless they already have a plan that is in place.

FANNIE MAE AND FREDDIE MAC: REPUBLICANS ASKED FOR MORE REGULATION, DEMOCRATS DENIED THERE WAS A PROBLEM…..SENATOR OBAMA NEVER SAID A WORD


Video

Is now hard to find but he said

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

In fact, there's a New York Times story from September 2003, showing that the first Fannie and Freddie reform from government came from the Bush administration.

query.nytimes.com...

Published: Thursday, September 11, 2003
The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

www.businessandmedia.org...

www.youtube.com...

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

www.youtube.com...

Originally posted by vkey08
reply to post by Stormdancer777

 

if the top 5 are all Democrats, then why are they whooping it up so much, One would think that reason would kick in and a sense of self preservation, stop the outlandish lifestyle long enough to keep the general populous under control, then party when you have that control, not before, thereby enraging everyone further?

Makes little to no sense unless they already have a plan that is in place.

Your guess is as good as mine, I guess they count on people being uninformed, and they are,

I for one know the majority of Americans don't research the facts.

I don't know what it will take to wake them up.

Originally posted by Manwin
mmmmkay, I have made up my mind; Mr. Obama, I want my vote back. If this request is not possible, don't worry, i'll make sure to cancel out my past mistake by casting my HARD EARNED vote for your opponent in 2012. Fool me once..............

Sorry, but enough is enough, partisan politics aside. I was a staunch voice AGAINST the Bush administration for 6 years; I was happy to get that clown out of office, and really optimistic about Obama's chances of changing Washington. Well, there was change alright - the change Washington made on Obama.

Raising taxes on others, while people in his administration fail to pay theirs. Eating 100 dollar steaks. Fear mongering the American public with the economy, the SAME way Bush did for his war. Sorry, I can't stomach a hypocritical administration, who is supposed to lead by example. And the kicker......the kicker to it all (I have voted Dem in all elections thus far) is that the Democrats are supposed to be for the working man! Obama is setting an example of good old fashioned elitism - something his party is accusing Republicans of all the time.

My vote is going to a 3rd party candidate next time. I am so SICK of the flawed/crooked two party system.

Are you sure you'll get a second chance? I mean, who knows what will happen over the next four years. Will we be voting for the next U.S. president or for the next Communist Dictator of The North/South American Union New World Order? He's probably celebrating because he just finished off whatever Bush started in his own subtle way with regard to NAU/SAU and other NWO related agenda.

[edit on 3/4/2009 by Mr Knowledge]

reply to post by Stormdancer777


Fannie Mae & Freddie Mac caused our financial crisis? I thought the republican motto was *leave business alone* and *the market will correct itself*. Face it, republicans don't like regulations and they never did!

I am not saying the democrats are squeaky clean but compared to what the bush administration did in those eight disasterous years, they still have an awfullyyy longgg wayyy to go to warrant any meaningful comparisons.

Just look at how much money the iraq and afghanistan campaigns will cost us, nevermined all the new *national socialist* agencies created to spy domestically and abroad. Unbelievable paranoia and waste as a result of the 9-11 attacks that could have been prevented if they had heeded any of the multiple intelligence reports that they so conviently ignored.

Yet some people still have the nerve to post ridiculous(at best) crap about our new president that has been in office less than two months!

reply to post by EarthCitizen07


Judas freaking Priest, you're still grousing about the cost if the Iraq war? What time warp are you stuck in? Obama effectively destroyed any credibillity the left had pissing and whining about the $600 Billion price tag that war has amassed us over 7 years when he dropped a budget on the American people that will put us another $3 Trillion in debt on top of the almost trillion dollar spending unstimulus Democrat's letter to Santa steaming pile of dog crap he squirted out last month, not to mention the imbecile he put in charge of the Treasury talking abot an additional $700 Billion for banks (atop the $700 Billion TARP Obama not only voted for but had the sack to try and defend to the American tax payer.)

My God man, give me W's financial unconservatism any day over this little kid with daddy's credit cards socialist buffoon anyday if the entire argument against Bush revolves around his national security and war chest spending. That's not an endorsement of Bush's financial lack of self control, but bringing up the cost of Iraq in defense of Obama's spending insanity is very much like seeing a septic tank cleaner tell a proctologist that their job stinks.

reply to post by burdman30ott6

Burdman, my friend, you definitely have a way with words. I couldn't have put it any better. I'd give you 5 flags if I could for that "eloquent" retort.

If he really wanted to inspire hope he could do something like volunteer at a soup kitchen or maybe take calls on a crisis hotline. I don't appreciate him telling us we need to be volunteering if he isn't doing jack to set an example. No one can be a good leader without understanding they are a servant.

For the Obama's to live this high-roller lifestyle is like rubbing salt in the wounds of the unemployed and those who have lost their fortunes . At least Bush gave up golf because of the war. Live it up Mr. President - it won't last. You'll be lucky to see four years in office at the rate you're going.

reply to post by EarthCitizen07


Yes, Fannie Mae and Freddie Mac were at the heart of the problem, and Barney Frank was DEEPLY involved.


www.businessandmedia.org...

Prominent Democrats ran Fannie Mae, the same government-sponsored enterprise (GSE) that donated campaign cash to top Democrats. And one of Fannie Mae’s main defenders in the House – Rep. Barney Frank, D-Mass., a recipient of more than $40,000 in campaign donations from Fannie since 1989 – was once romantically involved with a Fannie Mae executive. The media coverage of Frank’s coziness with Fannie Mae and his pro-Fannie Mae stances has been lacking. Of the eight appearances Frank made on the three broadcasts networks between Jan. 1, 2008, and Sept. 21, 2008, none of his comments dealt with the potential conflicts of interest. Only six of the appearances dealt with the economy in general and two of those appearances, including an April 6, 2008 appearance on CBS’s “60 Minutes” were about his opposition to a manned mission to Mars.

Frank has argued that family life “should be fair game for campaign discussion,” wrote the Associated Press on Sept. 2. The comment was in reference to GOP vice presidential nominee Sarah Palin and her pregnant daughter. “They’re the ones that made an issue of her family,” the Massachusetts Democrat said to the AP.

The news media have covered the relationship in the past, but there have been no mentions since 2005, according to Nexis and despite the collapse of Fannie Mae. The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup.

Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises. [/ex]

And the saga continues:

St. Patty's party, budget event By AMIE PARNES

A White House aide tells POLITICO44 that Obama (O’Bama?) will be hosting a big St. Patrick’s day bash at the White House ... ... Tuesday night. On the guest list: Irish American lawmakers and other Irish Americans. We're also hearing that Obama will be participating in a budget-related event tomorrow. Details to come.

www.politico.com...

Does anyone have a full list of the Obama parties since inauguration? It seems like a weekly event and in some cases twice a week (not to mention the lavish travels). This week he's inviting basketball players to a TV Viewing Party.

Source

I think the most effective campaign against this guy is to just show 30 seconds of photos from his parties. As the OP said - as America burned, Obama partied!

reply to post by ararisq


Still partying!! He and Michelle just hosted a Motown Celebration Weekend at the White House a couple of weeks ago. Celebrity after Celebrity and one performance after another. Glad to see that Nero/Obama continues to be unfazed by the current state of our Union and the state of the world. I'm surprised that Michelle was not throwing beads off the balcony of the Private Quarters in the White House on Fat Tuesday. ha ha ha

Rock on! Barry