More Jobs Created.

[Billiejeens]

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Bullshit.

You paid taxes. These corporations didn't. – Center for Public Integrity

That's just left wing propaganda....I understand that taxes are passed on, so then let me turn it around on ya...If you increase taxes on Corp's, and what you say is true that they don't pay them, then why are for increasing taxes on the little guy?

If corporations aren't paying taxes how is gov't taking in more revenue and how is that helping the individual taxpayers?

They are paying taxes. How much in taxes did JP Morgan Chase, Bank of America, CitiBank and Wells Fargo pay last year combined and how many persons do they employ combined? Look at those numbers and educate yourself.

I laugh at that probability.

 

[AzogtheDefiler]

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Bullshit.

You paid taxes. These corporations didn't. – Center for Public Integrity

That's just left wing propaganda....I understand that taxes are passed on, so then let me turn it around on ya...If you increase taxes on Corp's, and what you say is true that they don't pay them, then why are for increasing taxes on the little guy?

If corporations aren't paying taxes how is gov't taking in more revenue and how is that helping the individual taxpayers?

They are paying taxes. How much in taxes did JP Morgan Chase, Bank of America, CitiBank and Wells Fargo pay last year combined and how many persons do they employ combined? Look at those numbers and educate yourself.

I laugh at that probability.

He probably has zero clue in terms of how to read a 10-K.

 

[Billiejeens]

What?????????? Trump does. Posters on this thread do.

Trump needs to resign to makle me happy. Trump is a piece of shit destroying my children's & grandchildren's future.

Hew is running up the debt, I thought you assfucks hated deficits. Here you love praising Ttrump for creating them.

Please provide a post, any post from you in the Obama era that condemned the ballooning of the debt and deficit under his administraion....Until then STFU loser.

It was right-wingers whining about the debt when President Obama was in office, now that Trump has come on the scene you Hypocrites don't open your mouth about the debt.

That's not me brother....I would love to see cuts before we just destruct...So, what would you cut?

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Tax rate reductions
Always (hard stop)
Always
Increase revenue to the treasury
Won't they dont do is punish the producers
That's why progressives hate it.

 

[Billiejeens]

Please provide a post, any post from you in the Obama era that condemned the ballooning of the debt and deficit under his administraion....Until then STFU loser.

It was right-wingers whining about the debt when President Obama was in office, now that Trump has come on the scene you Hypocrites don't open your mouth about the debt.

That's not me brother....I would love to see cuts before we just destruct...So, what would you cut?

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Bullshit.

You paid taxes. These corporations didn't. – Center for Public Integrity

You are grotesquely fucking stupid

 

[Billiejeens]

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Bullshit.

You paid taxes. These corporations didn't. – Center for Public Integrity

That's just left wing propaganda....I understand that taxes are passed on, so then let me turn it around on ya...If you increase taxes on Corp's, and what you say is true that they don't pay them, then why are for increasing taxes on the little guy?

If corporations aren't paying taxes how is gov't taking in more revenue and how is that helping the individual taxpayers?

If Corporations are just pass throughs for taxation on the little guy, then why would you want to increase them? Are you for taxing the little guy?

TBH

I Doubt that thing even understands the question

 

[Dana7360]

That's right...

"President Reagan added 16.5 million jobs during his eight-year term, a 16.5 percent increase."

Which President Created the Most Jobs?

The answer to that question is Clinton.

And Trump isn’t likely to approach Reagan’s numbers. Let’s be realistic, shall we?

Exactly Clinton created nearly 23 million jobs while president.

Reagan did crate the worst economy since the last republican great depression. He didn't have a historic job creation rate.

I was eight in 1988. LOL. Why are we discussing the 80s? Their great music?

I was 28 in 1988.

I didn't post anything about 1988.

In fact the posts in this reply don't say untying about 1988 except you.

You don't make any sense.

Reagan was POTUS from 1980 - 1988 was he not? Are you seriously this stupid?

Yes reagan was president in 1988. He crashed the economy at the end of 1981. In 1988 reagan was at the end of his presidency and had already gone on his spending spree to create jobs and pump up the economy with trillions of our tax dollars.

When the Cold War ended in the first bush years all those jobs were gone. Which caused a recession which is why Clinton was elected.

Most of the jobs reagan and bush the first created were jobs dependent on tax dollars.

Neither man had record job creation.

The reason why people in this thread were talking about reagan is because one of you far right radical extremists made a fool of himself saying that reagan had historic job creation record. I was pointing out how untrue that was.

Can you follow and keep up with a conversation?

What does 1988 and your age in 1988 have to do with anything about this thread topic?

You make absolutely no sense.

 

[AzogtheDefiler]

The answer to that question is Clinton.

And Trump isn’t likely to approach Reagan’s numbers. Let’s be realistic, shall we?

Exactly Clinton created nearly 23 million jobs while president.

Reagan did crate the worst economy since the last republican great depression. He didn't have a historic job creation rate.

I was eight in 1988. LOL. Why are we discussing the 80s? Their great music?

I was 28 in 1988.

I didn't post anything about 1988.

In fact the posts in this reply don't say untying about 1988 except you.

You don't make any sense.

Reagan was POTUS from 1980 - 1988 was he not? Are you seriously this stupid?

Yes reagan was president in 1988. He crashed the economy at the end of 1981. In 1988 reagan was at the end of his presidency and had already gone on his spending spree to create jobs and pump up the economy with trillions of our tax dollars.

When the Cold War ended in the first bush years all those jobs were gone. Which caused a recession which is why Clinton was elected.

Most of the jobs reagan and bush the first created were jobs dependent on tax dollars.

Neither man had record job creation.

The reason why people in this thread were talking about reagan is because one of you far right radical extremists made a fool of himself saying that reagan had historic job creation record. I was pointing out how untrue that was.

Can you follow and keep up with a conversation?

What does 1988 and your age in 1988 have to do with anything about this thread topic?

You make absolutely no sense.

You’re so dumb. His presidency ended in 1988 so you see his full results. I asked Why are we discussing the 80s? I was 8 in 88. Seriously you’re this stupid or are you trolling? You’re not a CPA. You are too dumb to be one.

 

[LoneLaugher]

There are conservatives here who want to make blue collar workers work until age 70 before they can retire?

Cruelty.

 

[Faun]

So what's ther deal about contract?

Unions work under contract. They have expiration dates.

Jesus! Really? By "contract" workers, I am referring to those that work not as employees of a particular company, but rather are contract workers like a temp services....

Where I work, there are contractors who have been here as long as 8 years. And they're still working here.

Who gives a shit? You're a dumbass....

A dumbshit who schooled you. So what does that say about you?

Meanwhile, while you're trying to make it sound like contract jobs are short term, while many may be, many are not.

LOL....I give that I was sloppy in the article I posted...But "schooled?" Nah....You're just another arrogant dipshit....Nothing new.

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

 

[j-mac]

Jesus! Really? By "contract" workers, I am referring to those that work not as employees of a particular company, but rather are contract workers like a temp services....

Where I work, there are contractors who have been here as long as 8 years. And they're still working here.

Who gives a shit? You're a dumbass....

A dumbshit who schooled you. So what does that say about you?

Meanwhile, while you're trying to make it sound like contract jobs are short term, while many may be, many are not.

LOL....I give that I was sloppy in the article I posted...But "schooled?" Nah....You're just another arrogant dipshit....Nothing new.

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

Dow industrials touches 29,000 intraday after Friday’s jobs report

Suck it loser.

 

[Faun]

Please provide a post, any post from you in the Obama era that condemned the ballooning of the debt and deficit under his administraion....Until then STFU loser.

It was right-wingers whining about the debt when President Obama was in office, now that Trump has come on the scene you Hypocrites don't open your mouth about the debt.

That's not me brother....I would love to see cuts before we just destruct...So, what would you cut?

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Tax rate reductions
Always (hard stop)
Always
Increase revenue to the treasury
Won't they dont do is punish the producers
That's why progressives hate it.

Bullshit.

We had tax cuts in 1981, 1982, 2001, 2002, 2003 and 2018 and income tax revenues always fell. Even worse for rightarded economics, the biggest increases we had of income tax revenues came during Democrat presidents when taxes were raised.

 

[Faun]

Where I work, there are contractors who have been here as long as 8 years. And they're still working here.

Who gives a shit? You're a dumbass....

A dumbshit who schooled you. So what does that say about you?

Meanwhile, while you're trying to make it sound like contract jobs are short term, while many may be, many are not.

LOL....I give that I was sloppy in the article I posted...But "schooled?" Nah....You're just another arrogant dipshit....Nothing new.

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

Dow industrials touches 29,000 intraday after Friday’s jobs report

Suck it loser.

LOLOL

You poor, idiot. That's good news for me too. My portfolio has never been higher.

 

[j-mac]

It was right-wingers whining about the debt when President Obama was in office, now that Trump has come on the scene you Hypocrites don't open your mouth about the debt.

That's not me brother....I would love to see cuts before we just destruct...So, what would you cut?

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Tax rate reductions
Always (hard stop)
Always
Increase revenue to the treasury
Won't they dont do is punish the producers
That's why progressives hate it.

Bullshit.

We had tax cuts in 1981, 1982, 2001, 2002, 2003 and 2018 and income tax revenues always fell. Even worse for rightarded economics, the biggest increases we had of income tax revenues came during Democrat presidents when taxes were raised.


View attachment 299551

The Historical Lessons of Lower Tax Rates

 

[j-mac]

Who gives a shit? You're a dumbass....

A dumbshit who schooled you. So what does that say about you?

Meanwhile, while you're trying to make it sound like contract jobs are short term, while many may be, many are not.

LOL....I give that I was sloppy in the article I posted...But "schooled?" Nah....You're just another arrogant dipshit....Nothing new.

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

Dow industrials touches 29,000 intraday after Friday’s jobs report

Suck it loser.

LOLOL

You poor, idiot. That's good news for me too. My portfolio has never been higher.

With every keystroke you show us how utterly ridiculous your positions are....

 

[Markle]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

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
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

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

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
Bloomberg Politics - Bloomberg

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 -
Bloomberg - Are you a robot?

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
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



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.

 

[Billiejeens]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

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
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

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

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
Bloomberg Politics - Bloomberg

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 -
Bloomberg - Are you a robot?

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
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



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.

The end.

 

[Markle]

Well,

The everyone should own a home idea is a good one, like don't do drugs and stay in school.

It was the Democrats actions of demanding that people who could never afford it be loaned the money to do it - is where the wheels came off.

As a Realtor for more than 45 years I can say with conviction, NOT everyone should own a home. A substantial percentage of our households do not have the personal discipline and responsibility to own a home/condominium/townhouse.

Post 255 of mine highlights many of the major events leading to the meltdown. Something I am intimately familiar with.

 

[Faun]

That's not me brother....I would love to see cuts before we just destruct...So, what would you cut?

Trump's tax cut for the rich.

The tax cuts didn't cost the government anything....In fact they may result in a net increase in revenue....

Tax rate reductions
Always (hard stop)
Always
Increase revenue to the treasury
Won't they dont do is punish the producers
That's why progressives hate it.

Bullshit.

We had tax cuts in 1981, 1982, 2001, 2002, 2003 and 2018 and income tax revenues always fell. Even worse for rightarded economics, the biggest increases we had of income tax revenues came during Democrat presidents when taxes were raised.


View attachment 299551

The Historical Lessons of Lower Tax Rates

LOLOLOLOLOL

The Heritage Foundation???

LOLOLOLOLOL

I posted the actual results of income tax cuts and income tax hikes on income tax revenue --and you moronically tried to refute reality with rightarded bullshit from a rightwing think tank??

 

[Faun]

A dumbshit who schooled you. So what does that say about you?

Meanwhile, while you're trying to make it sound like contract jobs are short term, while many may be, many are not.

LOL....I give that I was sloppy in the article I posted...But "schooled?" Nah....You're just another arrogant dipshit....Nothing new.

Yeah, schooled. I had to educate you on what that actual study published. Had to educate you that you fell for fake news. Had to educate you that you're a dumbass.

Dow industrials touches 29,000 intraday after Friday’s jobs report

Suck it loser.

LOLOL

You poor, idiot. That's good news for me too. My portfolio has never been higher.

With every keystroke you show us how utterly ridiculous your positions are....

LOL

You're an abject imbecile. Who is invested in the stock market who is not doing well? What's wrong with holding that position is good for me too?

 

[Faun]

Liar. Bush and Republicans caused the meltdown. The meltdown was due to the bursting of the real estate bubble; and here's the leader of the Republican party at that time bragging about home ownership...

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech

At the same time, he was talking about homeownership he was proposing an agency to oversee Fannie and Freddie.

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
August 5, 1997
http://www.thefreelibrary.com/HUD+to+Fight+Discrimination,+Boost+Minority+Homeownership+and+Work...-a019650647

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

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
Bloomberg Politics - Bloomberg

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 -
Bloomberg - Are you a robot?

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
Barney's Rubble


Barney Frank in 2005: What Housing Bubble?



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.

Why are you blaming a Democrat from the minority party when Republicans controlled Congress for 12 years?? And this Republican giving them credit....

"Thanks to our policies, home ownership in America is at an all time high" ~ George Bush, 2004 RNC acceptance speech​