Karl Rove whacks Juan Williams on Fannie and Freddie

[bellcord]

Fannie and Freddie had nothing to do with subprime mortgages...Point of fact, Wall Street about put Fannie outta business cause Wall Street bought up these shitty loans to package into securities and Fannie couldn't...Lost market share from 70% to about 19% by 2008..

[ymp5000]

@bellcord Under Carter 1977s CRA stated that banks have an “affirmative obligation” to meet the credit needs of the poor. 1989 congress amended the HMDA forcing banks to collect racial data on mortgage apps. On the basis of racial discrimination when in fact it was financial discrimination. 1992 DHUD pressured Freddie and Fanny to purchase or securitize large bundles of risky loans to diversify the risk and make more money available for more risky loans.

[ymp5000]

@bellcord 1995 Clintons Treasury Dept. issued regulations tracking loans by neighborhood, income level and race to rate a banks performance. these reports were used to determine if banks would be allowed to merge/acquire/expand. It also made billions in tax dollars available to banks for down payment assistance for these loans. This in turn gave groups like ACORN and NACA leverage on banks to lend to those with bad credit and low income.

[ymp5000]

@bellcord 1999 Clinton signed the repeal of Glass-Steagall (Google it) passed by a democrat controlled congress. This is how the $4.5 trillion “sub prime” loan industry was born. A by-product of which was the derivative market that turned the mortgage market into a time bomb that would magnify the housing bust by orders of magnitude. All of this lead to the credit markets drying up and the ensuing stagnation and recession of our economy and quickly spread to global markets.

[ymp5000]

@bellcord If there is one person who bares the most responsibility for, whos hands are dirtiest, for crashing the US economy it is Bawney Fwank. In 2005 the Republicans including Bush warned of economic troubles coming down the road if Fannie and Freddie were not put on a tighter leash and Bawney led the charge to defend his boyfriends job at Fannie and stop any action against the two mortgage giants.

[ymp5000]

@bellcord Suck it

[affiliate30]

This guy wasn't even good for us anyway, he didn't even know how to argue our side. have a nice time getting fox money.

[KingLutherQ]

talk about spin. bush and the republican majority had 8 years. blame it on freddie and fannie when it's AIG Lehman and other big banks cook up derivatives.

It's not a secret that the GOP is always on the side of special corporate interest. That is why they fought. credit card reform, financial reform, and healthcare reform.

[jjrglobal]

@KingLutherQ

How did an insurance company or an investment bank make people not pay for their mortgage?

Without Freddie or Fannie this crisis could not have happened, they created the moral hazard by buying subprime mortgages and the implicit, now explicit, guarantee of their soundness to investors.

You dont know what you're talking about

[manucalrad]

the fbi said the housing problem was 10% of the recession wallstreet caused the other 90%. why do republicans blame the middle class, this recession just like the 1929 one was caused because there was no regulation of wallstreet, they themselves called it legalized gambling. derivatives and hedges were basically placing bets on bets on bets(no typo). karl rove is a bitch for trying to blame the recession on the middle class.

[TheDrunkenHer0]

Did you guys see how the republican t-party cult works ?

they made Carl Rove support Christine O'donnell 1 day after he trashes her for being a ''Nutty'' person..

what a little bitch.

[IheartJDAMs]

Speak the truth brother!!!!

[rhibac]

isnt this the guy whould should be sitting in prison smh

[Antipropaganda100]

Carl Rove war crimminal scum.

[time4sumaction2003]

Just shut up Juan, ur way outta ur league man!! Rove just bent u over and had ur ass!! U got owned bitch!!! Rove in 2012!!

[Newkeazfinest]

@time4sumaction2003 If Rove is so smart how come the Bush presidency was an epic fail! He claims to know about the impending collapse in 2001 and couldnt get anything done about it in the next 7 years! I guess he was too busy looking for those WMDs.

[time4sumaction2003]

What did Juan not understand about the bush administration bringing Fannie and Freddie in, but it got blocked by Barrack and his liberal shitbags? Then barrack brings them in when he realizes they are collapsing, and blames it on the bush admin. Do people still not see what a hypocrite this man is???

[caupachow]

Why would Juan Williams or anyone for that matter try and argue the facts with Rove. It's just plain silly, the man is a genius and knows his shit through and through.

[Newkeazfinest]

@caupachow Yeah thats why he dropped out of college, because education is for those elite douchebags. The only book Karl Rove reads is the bible. A true American hero.

[caupachow]

@Newkeazfinest i don't know about the ONLY book he reads, plus he does write them also but i believe you are on to something. when i hear someone is from Harvard or some other ivy league institution they scare me with their ideological thinking. No one in the current administration seems to have any real world experience with real people or real business.

[Newkeazfinest]

@caupachow U idiot I was being sarcastic. God youre a fuckin moron. Get off his dick.

[caupachow]

@Newkeazfinest Thank God, I thought you were just stupid. Sorry man, my bad.

[Newkeazfinest]

@caupachow You thought I was stupid but were polite enough to give me a reach around. Thats what I like about u repubs youre screwing the rest of us but atleast youre gentle.

[IheartJDAMs]

@Newkeazfinest Yea, we're the ones making everyone pay the government more money. You want to pay beloved Fuhrer more money, but do not goddam make us do it too!

[jjrglobal]

@Newkeazfinest

I dont think thats sarcasm, it cant be if its actually true.

[1LTPETE]

Fannie and Freddie didn't hit everyone "like a meteor." If you read magazines like The Economist and others they were all warning about a bubble in the housing market and the overextension of credit to those who probably shouldn't be lent money for a house (sub-prime candidates) for YEARS prior to the fall of 2008.

[GotGetGut]

Brilliant!

Loved his book!

[georgelewis]

The New York Time BestSeller

The Bush's Brain :Include New Material on the CIA LEAK SCANDAL

"HOW KARL ROVE GEORGE W. BUSH MADE PRESIDENTIAL?

[bbbhhgg]

Rove should be in prison.

[MegaTarzan2000]

Williams is smarter than that,he just acts stupid.He knows if he becomes a conservative hes out of a job.I saw him on ESPN talking about sports he was so tired of defending his leftist views.Karl Rove bitch pushed him and he cuts to a commercial.I met Rove .The man is a genius!

[quest8899]

Karl rove is awesome

[TheCappy3519]

ROVE IS A GENIUS!!

[TheTL95]

I like Juan but he's ignorant.

[vargavision]

I will give it to Rove - that meatball believes in what he says and he's a master at distorting the truth. He comes armed and prepared knowing his opponents weaknesses as well.

[TheTL95]

damn straight

[kimowasabe]

BOTH parties are for the status quo of milking the stupid public....Karl is lying when he says his party foresaw the collapse --bs! U can see into the future now? So easy to make up bs stats about past initiatives that can be bent to any lie...the elite of your country screwed you and your kids's kids future...the Consumer Economy is dead, and BOTH parties are complicit!

[1xirsx1]

Good job Barack Obama! You are directly responsible for horrendous damage to the lives of millions of Americans!

[PoliticsAddict]

rove is correct. fannie and freddie, government sponsored enterprises backed by democratic senators like obama, dodd and frank, blocked any regulation to reign in their lending practices.

[cartonhead]

this is staged, obviously.

[twisted45]

lots saw this * operated collapse * coming

[329200qvh]

Ass kicked, name taken.

[kavena]

juan got pwned

[smartin807]

Karl Rove should be in JAIL, but instead he gets a spot on Fox News. This man believes ANYTHING can be made good by the "Spin" you put on it! He's made his fame and fortune as a spin doctor and is quite proud of it. How can anyone in their right mind believe ANYTHING that he says? True Human Garbage!

[Hellpig]

in jail for what you treasonous piece of liberal shit...name 1 law Rove has broken...

Fear the truth liberal..because it is catching up to you treasonous liberals real fast...and Real America won't stand for your total hatred of America any longer we are calling you traitors out...

2010 we will see lanslide GOP wins which will launch investigations into the treasonous activities of Comrade Obama ,Pelosi,Reid ,Dodd ,Fwank,Murtha and Rangel...

2012 Presidential GOP slogan

I WILL REPEAL

[smartin807]

Ha, funny. why is it when you talk to the "New" Right about sportsmanship and fair play, they start name calling and slanderous remarks. 30 years ago the radical Right's mantra was "My country right or wrong"! Although that's closed minded, there's room for admiration. Now it's "My Side right or wrong ... screw the country!" That doesn't leave room for much admiration in that club! Lastly, if you feel it necessary to defend Karl Rove, you've got bigger issues than whose side your on.

[Hellpig]

yet you are still unable to cite 1 law Rove broke you just spew treasonous liberal rhetoric.....FEAR the truth for it is coming to expose all treasonous liberals and America will act accordingly....

[ed2kou1]

Hell yeah. I'M PISSED OFF, I'M SICK AND TIRED OF THE BS! I can't want to vote these DEMOCRATS OUT!

[MultiSnapDragon]

Yeah and vote back a bunch of repubtards that got us in this mess? I hope you recover from the amnesia.

[murdochmikey]

hell yeah! yeehaw!

fuckin' hillbilly.

[ed2kou1]

What did he lie about.

Thx W FOR KEEPING US SAFE

[smartin807]

Karl Rove is the architect behind the "WMD" spin, the "Katrina Victims didn't heed the warning to leave" spin as well as the "Mission Accomplished" spin! That's his job ... to lie to make a bad and ugly screw up smell like roses. As for thanking "W" that's great! You should always Thank your jailer from keeping those ugly things from the outside from getting in ... um ... wait, didn't the annual influx of illegal aliens from mexico quadruple under his watch?

[2012VerySoon]

You fucking Hypocrite. The black mayor left those dumb people who have never taken care of anything much less themselves. Don't be blind. OPEN EYES!

[pbandy34]

I don't know what Smartin said makes him a hypocrite. And really.. To think that the mayor could possibly deal with a disaster of that magnitude without some kind of federal aid... That's a little naive.

[PoliticsAddict]

rove is correct on this issue though.

[sailoveshanna]

why havnt they imprisoned karl rove yet?

[HalfLucky]

Cause it's not illegal to be smart

[madjik9]

Rove's lies are well rehearsed, I'll give him that.

The big mortgage lenders that wanted to pocket closing costs then sell off bad mortgages as investments are the real culprits. Throw in AIG that insured those investments and ratings companies that gave those investments BS triple-A ratings and boom goes the housing market.

The deregulation of all of these allowed it all to happen, thanks for nothing Sen. Graham.

Karl Rove will fill your head with lies, and if you buy it, it's all your fault

[Dasllama01]

Shut it Juan !

[FreshDebonair]

PUTANG INA NYO!

[bookr98]

This Harvard educated, black activist; trying to push his leftist bs, done what got thwart3d by Mr. Rove. TKO'd (mercifully).

[quizerry]

Fannie and Freddie and the community reinvestment act have cost taxpayers billions over the past 30 years. They should have been left to fail. Rove is telling the truth that during the Bush era they tried to rein in Fannie and Freddie. Just search H.R. 2575. Dodd, Frank and Reed didn't want it.

[mollesjohn]

nomar1kadefi,

Nice try... but obviously you can't refute a thing Karl said so you attack ME! I do know the cause of the mortgage crisis, how and why it grew into a bubble... how when and why the bubble burst. As a side effect of my research, I did come across what Karl said being true about the Bush admin trying to open the books.

norma1kadefi, Karl's facts are correct, and ANY attempt on your part to check would tell you Karl's correct on the FACTS. Oh... and Daily Kos won't help you... LOL

[kicnbac]

The Kenyan is here to bring this country down to its knees.

[nurser11]

Miss Lady Juan knows full well that Karl is telling the truth.....go put on a pair of high heels, Lady Juana....

[Hellpig]

Uncle Barry = EPIC FAIL

[BUDDAWG2004]

damn! karl lit his ass up

[bigshotandzapps]

Obama sucks

[Craigbe]

The whole issue of "racism" is a scam.

And it's this scam that is destroying America!

Blacks and browns have worse credit-ratings than whites...

Not due to "racism." Not due to "bigotry."

But because of lack of CHARACTER.

And MANIPULATORS have used this reality to trick decent whites into feeling guilty for it!

America will be on the way to recovery, ONLY WHEN we mature enough to understand that whites are LESS CRIMINAL than blacks or browns. (And Asians, even less than whites!)

No more scams!

[chessgame1960]

Williams seems to be a decent guy and I wish him no ill will; nonetheless, he is too lefty for Fox.

[DillonX]

Rove & Cheney are the 2 biggest scumballs on the planet...and they were both serial draft-dodgers!

[Jennofthejungle49]

SEXY!!!! What I wouldn't do to be the filling in a Karl Rove Dick Cheney sandwich. Rove bitch slapped Juan WITH FACT!!! Fact my little Moonbat douche bags, FACT.

[mollesjohn]

ancestralyuba,

Exactly. Democrats try to give houses away to the poor, except the catch is they have to pay a mortgage they can't afford. Dems did it by GUARANTEEING the loans. Fannie & Freddy gave GUARANTEES that if all went south, the taxpayers would pick up the tab. Then they HID the books from the public. Bush tried to open them, but the Dems didn't allow oversight. The mortgage boom ends, it all goes south BIG TIME. Gov giving guaranteed loans is what created all this.

Free markets WORK.

[nomar1kadefi]

The facts are Karl Rove and the Bush Administration didn't even attempt to put oversight on Freedie and Fannie and if they did I would like to challenge you to post a link on you tube to official statements from they're administration showing they were trying to rein in Freddie and Fannie. Good luck with that.

[sclennans]

Google the NYTimes article "New Agency Proposed to Oversee Freddie Mac and Fannie Mae"

September 11, 2003 "The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan ..

... 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."

[andrewh23]

Why is Rove on TV rather than jail? Very strange.

[Jennofthejungle49]

Because Rove never broke the law.

[krokion]

Where are the WMDs ?

[ancestralyuba]

Democrats in congress stuck a knife in the back of America when they pushed Fannie and Freddie into the subprime mortgage market.

These "government backed" mortgages were sold all over the world on faith in the US government.

And now generations of Americans will pay.

[TheRudeNews]

I wish Rove & co would have pushed this harder on the '08 Election. McCain barely mentioned it in the third debate.

If this issue ever truly sees the light of day, it will be the single worst issue for the Dems.

Especially when the public sees the hundreds of thousands of ACORN assisted loans that became foreclosures and ruined people.

[4u2b1ib12]

Fellow Tubelers,

Both parties are to blame:

In 1999, Senators (Phil) Graham, Leach, and Bliley sponsored legislation to deregulate, banks, insurance companies, and the stock market. President Clinton signed the legislation, a political quid pro quo, no doubt.

Karl Rove may have seen it coming, and anything he, and others, might have done was noxious verbal flatulence, to derail any substantive effort, by deflecting away from actual mediation.

In other words: he punk'd everyone.

It be it.

[oldtownkid]

GOP supportes are like zombies, Karl Rove changing history in fron of them and they believe it...

[mollesjohn]

christmanpunch,

You are exactly right, and Karl knew he had to push by Juan here who like the rest of the media, won't let these facts get known to the general public, because it places Obama square in the center of how we ended up in this financial fiasco in the first place. Yup, a guy who was complicit in creating this financial crisis is NOW in the White House while Bush tried to stop it.

But nobody wants to look at the facts, and everyone who tries to point this stuff out is a racist.

[christmanpunch]

The leftists have successfully brainwashed the American public into believing the financial meltdown was caused by capitalism and the Bush administration deregulating the economy. Ahhh the joys of controlling the media, academia and the entertainment industry... Hitler would be jealous. Too bad it's quite clear to anyone who's seriously examined the cause knows it was created by leftist social engineering. They forced banks to give loans to people who couldn't afford them.

[christmanpunch]

They then blocked attempts by Republcians to bring fiscal sanity to this fiasco. And it was all done under the guise of helping the poor and minorities. Therefore any attempt by right wingers to correct this mess was proof of their racism and hatred for poor people. So when oil prices went up and the economy experienced a minor recession people started not paying their bills and the banks collapsed. Hardly a situation created by right wingers. It was created by the leftists! Including obama.

[2uberu]

They would have thrown the race card if that bill ever got passsed.

[BillSchmitt1]

Nailed!

[bill127234]

The 1977 CRA and ACORN are at the core of the financial meltdown.

[mistertlg]

Juan's next job will probably be working for John Podesta, since he obviously needs a refresher course on liberal economic history 101

[fatdanios]

There's video right here on youtube where prominent Democrats refused to heed the warnings of the failing Fannie and Freddie!

[abdunplugged]

"Easily passed."  HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA­HAHAHAHAHAHAHAHAHAHAHA.

If things can be so "easily passed" then why hasn't Obamacare been passed when the Democrats can pass it on their own?????????? But according to you Bush could have "easily passed whatever they wanted." GEEEEZZZZ!!!! Get a clue!!!

[whoo689]

Juan is right, essentially. Bush and his compassionate conservative friends were all for this increasing homeownership scheme. If they were serious about preventing a meltdown, they could've easily passed new regulations to tighten fannie and freddie or perhaps even ABOLISH them, as i recommend.

[PnutGalry]

whoo689 said: "they could've easily passed new regulations to tighten fannie and freddie or perhaps even ABOLISH them"

LOL! Seriously, do a YouTube search and watch the DemonRATS during the hearings on the matter before you make any more foolish statements.

The republicans only had a majority in the SINate 2005-06 and never had a reliable majority.

[TalkingFrog]

what a stupid thing to say. Bush couldn't even get his preferred judicial nominees through a Republican-run Senate. And you think he can force the Senate to accept these limits?

It was Democrats who wanted to reward the undeserving by creating trillions of bad paper mortgages through things like the CRA and Fannie Mae/Freddie Mac. And it provided a wonderful source of corrupt funds for payoffs and campaign money for other Democrats.

All Democrats deserve to be in jail for at least a year.

[ZoneDaiatlas]

You obviously weren't watching the video clip. It's been proven over and over that the Democrats filibustered reform of Fannie Mae and Freddie Mac 17 times before the collapse. Anyone dared would have been labeled a racist!

[GodSaveOurNation]

Juan Williams was in way over his little liberal head...LOL...loved it!!

[ruinedart]

Lol. Liked that show so much I watched it twice just to see Rove steamroll Williams.

[laugh155]

Could it be any clearer what Karl Rove said regarding what the Bush Administration tried to do about Fannie and Freddie? And what Obama the "The smooth talker" failed to do. Just another example of not only Obamas failed leadership but also his failed knowledge. He knows nothing about being the leader of the free world. I'm also glad to see his failed attempt at bringing the 2016 Olympics to corrupt Chicago to appease his corrupt connections.

[laugh155]

vonschteiben, I could not have said it better. You were right on the money 100%.

[smith288]

Williams sitting in for O'Reilly?? And against Rove? Thats not even fair.

[M4arc]

Rove!

[vonschteiben]

Karl Rove knows more about politics, the economy and the history of what happened than Obama, David Axelrod, and the Obama staff all put together. The man speaks the truth. Obama has played politics with the economy and foisted a ridiculous stimulus bill upon the public that stimulated nothing but the pockets of Democratic cronies. Obama is a joke, and the sooner he is taken out of office (by vote or impeachment) the better.

[oski6078]

@vonschteiben No actually Karl Rove is a evil genius, and a master of manipulating the mind....the best evidence of that is that he got George W. Bush into the office,also you think that he speaks the truth and you support him like milions of others.Vonschteiben thank you for proving a point that you cannot comprehend.

[07yensid]

@vonschteiben Agreed! Juan Williams sux! He's always backing, and defending Barack.. I wonder why that is? He seems like he's not an uber liberal like Barack is... He needs to grow a brain, and learn not to pick a fight with Rove!

[chrism20]

Rove blows guys, Jeff Gannon is his daddy.