Faced With A BOOMING Economy To run Against, Dims Try To Argue Success / More Jobs = BAD

[Thinker101]

There are two problems with the Democratic dream of a Trump indictment. For one as we have explained a million times, COLLUSION IS NOT A CRIME. Please read that sentence until you understand it. Second, the Constitution clearly states you cannot indict a sitting President. DEMs will have to resort to drastic measures like explaining what they stand for. Hopefully that would be something more than "We stand for anything that makes President Trump look bad".

You need to get over this “tolerance” thing. Liberals don’t claim to be tolerant. We just don’t whine about gay marriage.

So you loons have abandoned the tolerance talking point?
The Center for Vision & Values at Grove City College The Liberal Religion of “Tolerance”

Liberals are very tolerant until you start lying about everything because you are brainwashed with BS hate character assassination garbage.

You may want to compare notes with Billy....dumbass.

 

[jc456]

There are two problems with the Democratic dream of a Trump indictment. For one as we have explained a million times, COLLUSION IS NOT A CRIME. Please read that sentence until you understand it. Second, the Constitution clearly states you cannot indict a sitting President. DEMs will have to resort to drastic measures like explaining what they stand for. Hopefully that would be something more than "We stand for anything that makes President Trump look bad".

Lol this meme is so dumb. When did Bill Maher ever say he was “tolerant”? Liberals are tolerant to reason. That includes criticizing ourselves.

In what era?

 

[francoHFW]

You need to get over this “tolerance” thing. Liberals don’t claim to be tolerant. We just don’t whine about gay marriage.

So you loons have abandoned the tolerance talking point?
The Center for Vision & Values at Grove City College The Liberal Religion of “Tolerance”

Liberals are very tolerant until you start lying about everything because you are brainwashed with BS hate character assassination garbage.

You may want to compare notes with Billy....dumbass.

The whole world knows except you dupes in the bubble of b*******LOL arrrrgggghhhh

 

[francoHFW]

There are two problems with the Democratic dream of a Trump indictment. For one as we have explained a million times, COLLUSION IS NOT A CRIME. Please read that sentence until you understand it. Second, the Constitution clearly states you cannot indict a sitting President. DEMs will have to resort to drastic measures like explaining what they stand for. Hopefully that would be something more than "We stand for anything that makes President Trump look bad".

Lol this meme is so dumb. When did Bill Maher ever say he was “tolerant”? Liberals are tolerant to reason. That includes criticizing ourselves.

In what era?

Hillary and Bernie, everyone and Maxine...

 

[JBond]

Dems blast booming jobs report, Trump worker agenda, ‘reckless’

Bwuhahahahahahahahahahahahaha!

The art of the deal?? lol lol Just like failure to make Mexico pay for his wall ,now best buddy Un spits in Trumps face,,,,

POLITICS
North Korea Slams U.S. `Gangster-Like' Demands at Nuclear Talksupdated 4 minutes ago
How Kim Jong Un and Trump Differ on Denuclearization

Holy Shit! Dems are whining about higher insurance premiums? A bit late for that you fucking idiots. We told you your plan sucked.

 

[Leo123]

To be a good American you don't need to kiss a moron like trumps ass

Why are you so full of hate and anger with everything going so great for America? Isn't that anti-America? Just sayin'!

You call what this trump pos is doing Great?? Got the whole world and more than half America thinking he's an ah

if it pisses neo-marxists like you off I say Viva Trump!!!

Marxism is a dictatorship that owns all business and industry and no one is a Marxist anymore, super duper. Enjoy the trade War

Modern Democrats are Marxist. They hate individual Capitalists and deny that exceptionalism and monetary reward gives people the most freedom. They do not like exceptionalism.....unless......It conforms to their stated goals. Democratic Socialism is a path to destruction. Democratic Socialists want everyone with money to be an 'oppressor' and demand power over their ability to spend their money as a free Americans. IOW Marxism is a SCAM.

 

[francoHFW]

Dems blast booming jobs report, Trump worker agenda, ‘reckless’

Bwuhahahahahahahahahahahahaha!

The art of the deal?? lol lol Just like failure to make Mexico pay for his wall ,now best buddy Un spits in Trumps face,,,,

POLITICS
North Korea Slams U.S. `Gangster-Like' Demands at Nuclear Talksupdated 4 minutes ago
How Kim Jong Un and Trump Differ on Denuclearization

Holy Shit! Dems are whining about higher insurance premiums? A bit late for that you fucking idiots. We told you your plan sucked.

It was the old GOP scam that gave us these costs duh...

 

[francoHFW]

To be a good American you don't need to kiss a moron like trumps ass

Why are you so full of hate and anger with everything going so great for America? Isn't that anti-America? Just sayin'!

You call what this trump pos is doing Great?? Got the whole world and more than half America thinking he's an ah

if it pisses neo-marxists like you off I say Viva Trump!!!

Marxism is a dictatorship that owns all business and industry and no one is a Marxist anymore, super duper. Enjoy the trade War

Modern Democrats are Marxist. They hate individual Capitalists and deny that exceptionalism and monetary reward gives people the most freedom. They do not like exceptionalism.....unless......It conforms to their stated goals. Democratic Socialism is a path to destruction. Democratic Socialists want everyone with money to be an 'oppressor' and demand power over their ability to spend their money as a free Americans. IOW Marxism is a SCAM.

Actually we are very good Americans, many of whom are very rich and want the best for the country and to pay more in taxes. You are an ignoramus Dupe of greedy asshole rich people... Thanks for the stupidest Wars ever and the world depression and a trade War now...

 

[Dale Smith]

Why are you so full of hate and anger with everything going so great for America? Isn't that anti-America? Just sayin'!

You call what this trump pos is doing Great?? Got the whole world and more than half America thinking he's an ah

if it pisses neo-marxists like you off I say Viva Trump!!!

Marxism is a dictatorship that owns all business and industry and no one is a Marxist anymore, super duper. Enjoy the trade War

Modern Democrats are Marxist. They hate individual Capitalists and deny that exceptionalism and monetary reward gives people the most freedom. They do not like exceptionalism.....unless......It conforms to their stated goals. Democratic Socialism is a path to destruction. Democratic Socialists want everyone with money to be an 'oppressor' and demand power over their ability to spend their money as a free Americans. IOW Marxism is a SCAM.

Actually we are very good Americans, many of whom are very rich and want the best for the country and to pay more in taxes. You are an ignoramus Dupe of greedy asshole rich people... Thanks for the stupidest Wars ever and the world depression and a trade War now...

I barter my time and skills in exchange for federal reserve notes of debt. Why would I ever agree to turn over a portion of those notes of debt to "da gubermint"?

 

[Faun]

No one said it was all Obamas BUT all economic indicators were headed up when Obama stepped down

Really? Why lie?

Failed former President Barack Hussein Obama, first President in history to go through two full terms without a single year of growth above 3%. FAIL!

Thanks for admitting Bush was responsible for the housing bubble since that was the only reason Bush was 2 years go above 3%.

 

[Markle]

Thanks for admitting Bush was responsible for the housing bubble since that was the only reason Bush was 2 years go above 3%

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
HUD Archives: Cuomo agrees w/Nat'l Urban League -- to Fight Housing Discrimination

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

August 5, 1997
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Terms of Service Violation

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Terms of Service Violation

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— 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.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

[…]

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?


''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.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street
All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.


###

 

[mikegriffith1]

I wouldn't say the economy is "booming" yet, but it's definitely doing better than it was two years ago.

 

[sparky]

booming usually leads to bursting fellas....

~S~

 

[jc456]

You need to get over this “tolerance” thing. Liberals don’t claim to be tolerant. We just don’t whine about gay marriage.

So you loons have abandoned the tolerance talking point?
The Center for Vision & Values at Grove City College The Liberal Religion of “Tolerance”

Liberals are very tolerant until you start lying about everything because you are brainwashed with BS hate character assassination garbage.

You may want to compare notes with Billy....dumbass.

The whole world knows except you dupes in the bubble of b*******LOL arrrrgggghhhh

You’ve been talking to the whole world eh? Dude, you have issues . Holy fk.

 

[jc456]

There are two problems with the Democratic dream of a Trump indictment. For one as we have explained a million times, COLLUSION IS NOT A CRIME. Please read that sentence until you understand it. Second, the Constitution clearly states you cannot indict a sitting President. DEMs will have to resort to drastic measures like explaining what they stand for. Hopefully that would be something more than "We stand for anything that makes President Trump look bad".

Lol this meme is so dumb. When did Bill Maher ever say he was “tolerant”? Liberals are tolerant to reason. That includes criticizing ourselves.

In what era?

Hillary and Bernie, everyone and Maxine...

Did you wake yet?

 

[Thinker101]

You need to get over this “tolerance” thing. Liberals don’t claim to be tolerant. We just don’t whine about gay marriage.

So you loons have abandoned the tolerance talking point?
The Center for Vision & Values at Grove City College The Liberal Religion of “Tolerance”

Liberals are very tolerant until you start lying about everything because you are brainwashed with BS hate character assassination garbage.

You may want to compare notes with Billy....dumbass.

The whole world knows except you dupes in the bubble of b*******LOL arrrrgggghhhh

I'll give you that one, the whole world knows Hillary lied and cheated in an attempt to win an election.

 

[jc456]

booming usually leads to bursting fellas....

~S~

What do bursting fellas look like?

 

[Faun]

Thanks for admitting Bush was responsible for the housing bubble since that was the only reason Bush was 2 years go above 3%

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
HUD Archives: Cuomo agrees w/Nat'l Urban League -- to Fight Housing Discrimination

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

August 5, 1997
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Terms of Service Violation

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Terms of Service Violation

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— 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.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

[…]

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?


''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.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street
All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.


###

What part of Bush’s declaration to Republicans, ”thanks to our policies, home ownership in America is at an all-time high,” don’t you understand?

 

[Norman]

Thanks for admitting Bush was responsible for the housing bubble since that was the only reason Bush was 2 years go above 3%

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
HUD Archives: Cuomo agrees w/Nat'l Urban League -- to Fight Housing Discrimination

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

August 5, 1997
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Terms of Service Violation

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Terms of Service Violation

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— 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.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

[…]

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?


''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.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street
All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.


###

What part of Bush’s declaration to Republicans, ”thanks to our policies, home ownership in America is at an all-time high,” don’t you understand?

I especially understand the part "our policies".

His and Clinton's...

Besides policies being a full retard also unifies them.

 

[sparky]

Thanks for admitting Bush was responsible for the housing bubble since that was the only reason Bush was 2 years go above 3%

Just to remind all our FRIENDS from the far left, the responsibility for this mess lies with Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. AND WITH REPUBLICANS for backing off every time Barney Frank and his cronies played…THE RACE CARD! The housing bubble is what led to the downfall and that was driven by Democrats, starting with Jimmy Carter and hugely expanded by Bill Clinton. Here are the facts, once again, for you to ignore….

HUD TO FIGHT DISCRIMINATION, BOOST MINORITY HOMEOWNERSHIP AND WORK WITH URBAN LEAGUE TO FURTHER GOALS
HUD Archives: Cuomo agrees w/Nat'l Urban League -- to Fight Housing Discrimination

New York Times - 1999
Fannie Mae Eases Credit To Aid Mortgage Lending -
Fannie Mae Eases Credit To Aid Mortgage Lending

August 5, 1997
President Bush’s and the Administrations Unheeded Warnings About the Systemic Risk Posed by the GSEs – Fannie and Freddie dating back to 2001
Just the Facts: The Administration’s Unheeded Warnings About the Systemic Risk Posed by the GSEs

By Elliot Blair Smith,
USA TODAY
Fannie Mae to pay $400 million fine
Terms of Service Violation

Franklin Raines was Director of the Office of Management and Budget under Clinton and returned to Fannie Mae as its CEO in 1999. Raines is not a “chief” economic adviser for President Barack Hussein Obama but has advised the administration on mortgage and housing matters. Obama had hired another former Fannie CEO, Jim Johnson as a member of Obama’s V.P. search committee and who was forced to quit under fire.

Bloomberg News -
How the Democrats Created the Financial Crisis -
Terms of Service Violation

Democrats in their own words covering up the Fannie Mae, Freddie Mac


Timeline shows Bush, McCain warning Democrats of Financial Crisis


From the New York Times
New Agency Proposed to Oversee Freddie Mac and Fannie Mae
By STEPHEN LABATON
Published: September 11, 2003 WASHINGTON,

Sept. 10— 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.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

Read more: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

[…]

###

From USNews and World Report
Barney Frank's Fannie and Freddie Muddle
By Sam Dealey
September 10, 2008

[…]

So five years ago, there was one of those rare moments in Washington when the branches and personalities of government—in this case, the Bush administration—are less interested in protecting or expanding their turf than in fixing a looming catastrophe. What was Frank's response to the proposal?


''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.''

[…]

http://www.usnews.com/opinion/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-freddie-muddle

Wall Street Journal Barney’s Rubble – September 17, 2008
http://online.wsj.com/news/articles/SB122161010874845645

Barney Frank in 2005: What Housing Bubble?


Maxine Waters & Barney Frank - Then Vs. Now -

Embedded media from this media site is no longer available

Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis -
The Bet That Blew Up Wall Street
All this, in addition to the repeal of the Glass-Steagall Act by President William Jefferson Clinton caused the meltdown.

It COULD have been stopped or greatly reduced. Democrats fought that every step of the way and the Republicans wilted under the barrage of being called racist and worse.


###

What part of Bush’s declaration to Republicans, ”thanks to our policies, home ownership in America is at an all-time high,” don’t you understand?

Because economic policies take time to come to fruition, no one party can take credit for their success OR failure

~S~