The biggest minority quota's 5.5 million came from the Bush Administraion So did no money down.
1/20/2004
By Thomas A. Fogarty, USA TODAY
Bush seeks to increase minority homeownership
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.In announcing the plan Monday at a home builders show in Las Vegas.
The biggest minority quota's 5.5 million came from the Bush Administraion So did no money down.
1/20/2004
By Thomas A. Fogarty, USA TODAY
Bush seeks to increase minority homeownership
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.In announcing the plan Monday at a home builders show in Las Vegas.
The biggest minority quota's 5.5 million came from the Bush Administraion So did no money down.
1/20/2004
By Thomas A. Fogarty, USA TODAY
Bush seeks to increase minority homeownership
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.In announcing the plan Monday at a home builders show in Las Vegas.
What gall Baney Frank has, to say he didn't "see" any problem with Fannie and Freddie and then say even if they did get in trouble "the federal government would bail them out"!!! And this was while his boyfriend was running Freddie and making millions of dollars before jumping ship just before it was discovered they had been cooking the books! If there is justice in this country anymore, Bielat should win election and Barney Frank and his boyfriend should go to JAIL!
@Deborah8050 For someone trying to regulate Freedie/Fannie it's funny Bush got 440 Billion for minority loan purchase commits from Freedie/Fannie in 2002 for his Goal of 5.5 Million minorities by 2010.....don't believe me , believe your own EYES
watch?v=kNqQx7sjoS8
This video is Bush in His own words start about 4:00 minute mark or watch the whole video.
the good old corrupt tv. the tv will take your life away and make you think like a sheep. it herds thinking. then that thinking is manipulated. the tv company often benefits from that cycle. throw your tv away. it only tries to form your opinion.
@locomoncayo but your glasses on this crash was in 2008, both the Senate and the House had Democrat Majorities. During which both the chairman of the Banking Committee and the Chairman of the Finance Committees, which ramped up and jammed through the Community Reinvestment Act, were both Leftist Democrats-your pals Barny Fwank and Christopher Dodd. Please get your facts together prior to posting nonsense, it makes you sound ridiculous. Thanks and keep coming back.
@locomoncayo Your point? The video shows leftist sleaze bag Barney Frank babbling that everything was fine. The leftist Community reinvestment Act, which was developed contrary to anything resembling common sense, was at the heart of the idiocy. It was created by the (D) Carter Administration & rebooted by the Clinton. You can lie to yourself and make baseless accusations, but the Standards for Prudent Banking were willfully &forcibly set aside by the Democrats.
@locomoncayo Because obviously you have not watched all of the videos and not thoroughly studied the issue. If you had, you would have seen clear videos of Barney Frank professing that Fannie and Freddie were completely financially sound, within three months of the big crash. Wake up and educate yourself prior to taking positions which are factually invalid.
Or a better idea, how about we dont have a pseudo government agency forcing banks to lend to those who dont qualify? It seems that government first sticks their regulatory noses where they dont belong, then create a problem in free market, then make more regulations to solve a problem they created in the first place. If you have a broken leg, you dont take pain killers do you?
Anyway 2 all of u, wow ad hominem attacks, how mature.
2 quote some of the people u just finished blowing 4 the last 8 years, "if u dont like America & our president, u can just GET OUT!!!"
U can go 2 all the countries that fit ur view of an ideal country & agree with u points of view
...thinking...thinking
Lets see, extremely conservative, antisemitic, religious, want prayer in school/gov't, homophobic. Go 2 Iran fucktards. Just switch 1 imaginary prophet for another.
Frank's quotes were not, all of his fancy-boy blustering aside, taken out of context. I have reserached and red many of his quotes from hearing of that period and they are all the same. He can try to redact all he wants, but he's right in the middle of this with many many others. I hold Bush responsible as well along with Chris Dodd, Maxine Waters, et al - stop your partisan bickering and get behind real reform effort stating with kicking all these bums out.
it's amazing how right wing morons and zealots twist facts to suit their intentions... completely ignoring context in both statements of barney frank and circumstances of the financial meltdown... this is nothing more than another big fat lie by foxnoise...
Abe Lincoln was what they called a Republican at that time, which is now called a liberal. Both parties switch their directives every 40-50 years or so. and Southern Fried its absolutely obvious at this point the liberals are the ones fighting for civil rights, every oppressed group of people votes for the democratic party. Not that it really matters, its called a two party system cuz they have us take part in meaningless elections then have a party as they run off with the money.
Bret Baire, the same guy at Fox (Fixed) "news" who snarled about "Global Warming" while citing a few nights of "colder temps". So typical of Fox "news", who lies that it's "fair & balanced" but hires Reagan's Oliver North & Bush's Karl Rove.
1.) Warming theory PREDICTS both COLDER & WARMER imbalances..
2.) Thousands of scientist confirmed global warming.
3.) NASA confirmed Greenland & Arctic ice sheets are shrinking.
4.) Glacier National Park is down from about 150 glaciers in 1910 to 27 now.
Liberals play we pay. Idiots still believe these fools have bleeding hearts for the little ppl. Actually they are ashamed of the little ppl, the elite is who the prefer. The little ppl are just a stepping stone, a slave, a tool for holding office by giving you false hope. MLK was a Republican. Abe Lincoln started the Republican party. No self respecting person would hold onto a party that enslaves for gain.
SoutherFriedGood, since you think in sweeping generalizations, undigested slogans & blanket stereotypes, which elite are you referring to? Millionaires Bush Sr., Bush Jr. who's family got rich hobnobbing with the elites in the Nazi Party in the 30s? Limbaugh with his millions?...or O'Reilly, Hannity, Ann Coulter, etc. who smear and slander half of the population for not thinking as they do? Or Cheney? - former CEO of Haliburton who cost us $1 Trillion in Iraq, borrowed from communist China.
Queen Barney Frank. Now that you've caused destruction of the American economy with your political incompetence thru the years and blame others for it. Your political history places you on a level BELOW Judas Iscariot. At least Judas had the balls to hang himself after his wrongful actions. But you haven't removed yourself from society which proves your gay balls are completely USELESS and less than the balls of Judas.
We are at the non-sustainability point of Democracy!
Pattern that put the banking Mafia in Charge: Community Rein Act, its enhancement in 95 under Clinton; ending the 1933 Glass-Steagall Act; Sarbanes-Oxley Act of July 2002; lifting of leveraging rules; TARP; elimination of the Uptict Rules; FED now rules commodity market = electronic counterfeiting of commodities (ending of 5th Amnd constitution of title); counterfeiting of securities is the new drug!
The Repubs killed the 2006 legislation in the Senate, Freddie paid a lobbyist DCI who targeted 17 Repubs to defeat the bill without their votes the bill would not have passed.
The GSE's were not the cause of this mess they are a secondary mortgage companies..
Their share of sub-prime loans was shrinking, in 2004 Bush adm. pushed new minority home-ownership. HUD who sets the goals of the GSE's increased the percentage of loans for low and moderate buyers for years 2005-2008.
As a lifelong Democrat, it saddens me to say that Obama and Barney Frank - along with Dodd - all agreed months ago - indeed weeks ago - that Fannie/Freddie were in fine shape. Truth is, the Republicans had been calling for more regulation and warning about reckless lending practices of Fannie/Freddie for sometime. (BTW, whats wrong with Barney Frank? Why does he talk like Elmer Fudd?)
The Ponzi scheme goes into overdrive with the Lehman securities auction. The verdict? Lehmans' assets marked down to 9 cents on the dollar. The losses are covered by the CDS "insurance" to the tune of $400B. More than enough to implode several other derivative writing institutions. This auction alone is worth half the bailout package. The coup de grace will be exposure of the JPM, GS, and MS derivatives liability. I don't think they'll live to see November
The fact (FACT) is that all of this mess starts with ACORN, who used scare tactics dating back 12 years ago to pressure bank presidents to push through questionable housing loans to low income families. They did this with the assistance of a smooth talking lawyer who also provided training to the upper core staff to legally press for these bad loans. And yes...the smooth talker was Mr. Barack Obama.
Look John Wi11iams you can point fingers as much as you want, but the fact remains the video shows Blarney Frank stating that there is no problem with Fannie & Freddie.
The amount of leveraging doesn't matter if slackers would pay their bills. If I sign a contract stating I will pay $x then I should pay $x. The fact that so many people stopped paying their mortgages in a very short time started the chain-reaction.
Exactly how much did the GSEs contribute to the banking crisis? 85B? That seems like pretty small potatoes compared to the 700B Paulson asked for (added to what has already been used for bail out).
A reasonable estimate would be that the democrats contributed 10% of this mess, IF everything said so far were taken at face value.
All this because the democrats would not support an ideologically rigid bill that would have ham strung the GSEs. Republicans undermine government programs.
"Exactly how much did the GSEs contribute to the banking crisis? 85B?"
Fannie/Freddie guarantee 6T in mortgages, or ~40% of the 14T estimated U.S. housing value. (based on Paulson's assertion that 700B was 5% of all value.)
Freddie was set up to create a secondary mortgage market. The need to screen out risk was obviated by flipping. Fannie (assisted by Frank's boyfriend) invented & pushed new, risky loan instruments. Everybody abused them, but this is how the market was flooded with cash.
The amount of bad risk they took on is indicative of the figure in the bailout, or hadn't you figured that out by now? The GSEs were only allowed to purchase conforming loans. There are standards for down payments, source of income, and amount of loan. The vast bulk of the bad debt is in the private sector, where deregulation allowed for mortgage backed securities to be sliced and diced to the point where it was impossible to figure where the risk was.
These instruments became opaque. That by itself has a huge effect on investor confidence. That is a big reason why the bubble is not contained. These firms were handing out no income, no job, no assets required, no money down and no payment on principle balloon loans to the speculators trying to make money fast in real estate.
Yes, what part of 6T in mortages or mortgage guarantees was I not clear on? 45% of all outstanding U.S. housing. Fannie was in the business of creating these loans instruments and guaranteeing them. Once they existed, people used them like gasoline on a fire.
You're wrong about amount of risk represented by the bailout. $700B represents the cost a 5% failure rate of all outstanding mortgages. (The actual failure rate is only 2%.) It would shoot up significantly w massive unemployment.
There were PLENTY of other firms involved in Mortgage backed securities who were involved in much riskier loans. They would separate loans bundles into different risk tranches making AAA securities out of balloon loans. The credit defaults swaps were completely unregulated and themselves bundled into cash flow securities. There was no knowing what was what and where the buck stopped.
I agree there was a lot of Wall Street gasoline poured on this fire. IMO, the dirty secret is:
1. These instruments were exploited by speculative yuppies far more than by unqualified buyers.
2. The mortgage flipping industry yielded massive bonuses. Bonuses, not good intentions, are what was really driving things at Fannie/Freddie.
But, I am saying that Fannie & Freddie owns an incredible percentage of this bad debt, that it created the situation in the name of A.H., and lit the match.
The bad debt is reflected in the losses, the $85B that they needed for bailout. The bubble burst in the hedge funds and high risk junk securities first, the stuff that had absolutely no safety margin at all. The speculation in derivatives alone makes the whole game highly suspect.
CRA is also sighted as the cause for making risky loans. The truth is that CRA loans account for less than 10% of the bad loans made. What risks liberals took to extend credit to lower income families pales in significance to the outright gambling going on on wall street. The republicans are dishonest to the core and have to interest in digging any deeper than this.
It's very clear to me the republican propaganda network is going to attempt to use liberals as SCAPEGOATS again. They were only one forcing factor that was driving inflation. There were other more significant factors, primarily firms that engaged in MUCH riskier loans that would put these through the financial meat grinder and turn them into AAA rated securities. These firm were MUCH more leveraged than the GSEs, on the order of 30 to 1.
I'm a soldier in the U.S. army, and even I am sick of hearing all of this. When it comes down to it, I fight for my COUNTRY, not the courrupt government that has choked the very life out of our people with the "fuck everything up and then point fingers" plan. Its times like these when I would rather be living in the middle ages.
We listened to the FOX news special Sunday evening regarding Barack Obama's ties with ACORN(Association of Community Organizations for Reform)and others. It appears that much is about to surface from FBI investigations.
Now it is up to MSNBC or preferably Barack Obama to give the American people their side.
At a time like this, we all need to become Americans. Government will not rescue us. We must all listen very closely with unbiased ears. Our FREEDOM is just too precious to do otherwise.
BUSH, JOHN SNOW, McCAIN and many Republicans WARNED about this looming crisis.
Watch this Video of proof that DO NOTHING GOOD LIBERALS shut down the concerns of Republicans.
HERE IS CLEAR PROOF of how this CRISIS came about and PROOF that Republicans wanted to reign in The Mortgage industry and LIBERALS BLOCKED THEM at every point.
Watch this Video:
rodIc9E1g7E All in the Family.
SMOKING GUN PROOF that Barney Frank is a BOLD FACE LIBERAL LIAR.
The only reason the republicans were pushing for that was that Wall Street wanted to get more involved in directly buying the mortgages from the loan givers and to push Fannie and Freddie out of the market. Look at the New York Times article from yesterday about Fannie and Freddie.
Democrats buy votes with the tax payers money by giving Fannie and Freddie blank checks and blame Bush for this housing and financial meltdown. Now they abuse their own mess to buy votes again with the taxpayers paychecks.
It is actually the fault of the Clinton administration... Bill Clinton and his band of free credit whores pushed Fannie Mae and Freddie Mac into giving loans to under qualified (mostly minorities) mortgagees thus creating our current situation. If you don't believe me go look at the most liberal source of information the New York Times. The article is from September 30th 1999 titled "Fannie Mae Eases Credit To Aid Mortgage Lending"...
here comes the finger pointing game, the root of all this madness can be traced right back to the lieing blow job king..the Clinton's. now Rudy Giuliani's firm will be tapped into the bailout bucks, he will get billions of out money. Fannie and Freddie are the cash cow for the congressional black caucus. in a crucial time for a bill thank Harry Reid for adding on all the pork. u.s.a is doomed.
Interesting how main stream media seems to have lost those quotes of Frank. Seems he has forgotten about those statements as well. Prison time may help jog Barney Frank's memory.
Isn't it ironic that those very people who have gained the most from the economic scandal, are the ones who were chosen to head the committee to draw up the 451-page, pork-laden bill?? What the ----? Barney Frank's lover works for Fannie Mae, so he has a conflict of interest! Chris Dodd and Barack Obama are the two recipients who have received the highest amounts in contributions -- and both also got "sweetheart" deals! And where are Raines, Cox and Johnson? Will they be indicted?
Barney Frank Rubble should be run out of office. Why haven't the networks run this guys history of poor leadership? Oh, They are to busy beating up on Bush and getting Obama in the WH.
"Freddie Mae -- Fannie Mae and Freddie Mac -- I see the heads who are here; I want to thank you all for coming -- have committed to provide more money for lenders. They've committed to help meet the shortage of capital available for minority home buyers. (cont.)
Fannie Mae recently announced a $50 million program to develop 600 homes for the Cherokee Nation in Oklahoma. Franklin, I appreciate that commitment. They also announced $12.7 million investment in a condominium project in Harlem. It's the beginnings of a series of initiatives to help meet the goal of 5.5 million families. Franklin told me at the meeting where we kicked this office, he said, I promise you we will help, and he has, like many others in this room have done. "
Franks is an idiot. Pelosi is an angry, bitter woman who can't put aside her own animosity toward Bush for the better of the country. Harry Reid is a disgrace and baffoon. If this is the best the Dems have to offer, bring us the Geico cave man.
U might want to consider any material that is controversial about where is it coming from and what is that poster's agenda? I really wish I could get the facts without someone's biased 'spin' on these issues. Boggings great, but it has it's downside too. You have to figure out which ones you can trust, just like any proffesional journalist.
Financial economics dealing with sophisticated issues are too advanced for the meek liberial democratic mind. They don't even know when the sh***t hits the fan!!!
Bush did know about the looming problem w/ Freddie Mac & Fannie Mae & he pushed Congress to pass a bill to regulate the both instituions however DEMOCRAPS blocked the legislation in 2003. This was all on Barney Frank's watch who was chairman of the Financial Committee! He even stated that these institutions were doing a great job & that anyone who disagreed w/ their success was "exaggerating." Now we have a plan to "bailout" the Democrats mess. Oh wait, am I exaggerating?
FLHTP07 Don't waste your time on someone who evidently does not want to hear or see the facts. That is why Liberalism (Or leftwing Democrat ideology) is truly a disease. It is clear that the Dems were guilty then, are to blame now, and will continue to damage this country at every opportunity !
this fat-blubbering pile of shit---can you believe the nerve of this guy?? to show his face when he is one of the main democrats with blood on his hands----amazing.
The American Public are being softened up for a huge rip off. If you think 700 Billion is a lot you wait til it gets to 2000 billion next year! The vote failing yesterday was just part of the scam so you all start thinking '..maybe we should do something to help..' Do not be fooled - hold your nerve - these Vampires only stop when there is no blood left!!!!
note: I am not saying the democrats are not ALSO to blame... they share responsibility. I am saying this report is far from "fair and balanced" as is 90% of their other reports.
The socialism is in forcing banks to loan money to people who could not repay to buy homes they could not afford.
Look at the Schumer quote. Listen to Barney Franks. Fox News did not make this stuff up.
Conclusion is simple. Either demorats have no concept of economics or they are elitist socialist who think they can do better then those who have failed before them.
I agree with you about "The socialism is in forcing banks to loan money to people who could not repay to buy homes they could not afford."
That is very accurate!! However, as this video states, the Bush admin knew about this back in 2001. They passively or negligently let the problem continue for 5 years. Now, the current republican Bush admin is socializing corporate loses.
You have to admit both parties are to blame, yet faux is one sided. Much like other networks for dems. That is my point.
Bush and others tried multiple times to change this but the Senate would not go along.
Look, a 51% will give you the majority in the senate but that will not get you control over the committies or whats brought to the floor It takes 60% and none of the dems would support controls on fannie and freddie.
Listen to Barney Franks. Read Schumers quote.
In case you did not know it, in this United States, The President CAN NOT make laws.
You need to go learn the rules of the Senate and stop calling what you dont understand propoganda or irrelevant. It was exactly the democrat run Macs and the socilaist policies and huge bonuses that caused this problem.
It all started with carter and made worse by clinton. And Franks... he should be in Gitmo.
More republican lies! Obama has talked to Raines once! Look at McCain! 19 of his advisers and fundraisers lobbied for Freddie and Fannie. Rick Davis was getting $15,000 a month! Also, 8 worked for AIG! Not to mention that executives of top Wall Street corporations have given McCain 10 times as much as Obama. And Phil Gramm started it all in 1999 by deregulating the banks so that they could guarantee the security of their own bad subprime loans and then sell them to Fannie Mae!
republicans controlled the house and the senate in every year cited here. bush also supported home for low income families. "Too many American families, too many minorities, do not own a home. There is a home ownership gap in America. The difference between African-American and Hispanic home ownership is too big," Bush 2002
also please google Phil Gramm, McCain's advisor and his role in deregulation.
I will say both republicans and democrats are to blame.But don't forget the bush administration set the deregulation in motion.I think it's important that everyone knows that the republican party believe by hepling out big buisness it will ultimately trickle down.Democrats believe by helping folks with lower incomes it will increase the consumption of stock on the market so to speak,essentailly trickling up stimulating the big buisness.Rep's ussually side with the buisness owners not consumers.
Ya know what sucks... BOTH sides friggin lie!! There were also HR's sent to the floor by Dem's regarding the crisis in Fannie and Freddie, but since these jerks put other things in the bills, to please they're own lobbiests, NOTHING GETS DONE!!! This is not a democrat caused problem, its not a republican caused problem, its a lobbiest caused problem. But to put Fox News right, the republicans controlled the 108th house, back in 03 when this came about.
"even if there where a problem, the federal government won't bail them out" Barney Frank (D)
Are you kidding me- this needs to be McCains next ad.
PS- Barney also tried to force feed a 20% bail out for ACORN - which is a corrupt, ill run organization. btw Barney tried to slip that in the initial bill language which got stripped out.
Frank,Shumer,Dodd, Pelosi,Biden They need to go!! Affordable housing is killing us! It was not to little regulation it was bad regulation. Time they pay the piper! No Bail out!! 100% acountability!!
Why do you continue to get all your 'news' from Fox? At least balance the picture with some actual news.
Emerson said" The god of the cannibals will be a cannibal, of the crusaders a crusader, and of the merchants a merchant." And, the god of the morons will be a moron! Think before you vote!
Fox news!!! I wish fox news would report half of this stuff Demacrat or Republican. At this point you need to think for ur self.If you want the truth look at the voting records and get rid of this scum. From the GOD of think for yourself.
A reply to ventaphineas: people like you, who can see actual footage of politicians commenting on something but you choose not to believe it, is why we are in the fix we are in. FOX is courageous enough to present actual happenings, to actually give you real footage of something that was said by politicians; is willing to stand up against the leftist agenda of the rest of mainstream media. But you want to remain ignorant. You want to believe what you want to believe. Get real
What alot of people even myself don't see,is the fine print on these bills that are portraid through this"actual footage"of congressional hearings.You see when you hear about this polition or that polition voting this way or that way to for instanse to "cure cancer" What most people don't see is the language on page,89 paragragh,7 article,3 that outlines sensitive information cocerning what programs will be underfunded as a result.My point is 2+2 doesn't always equal 4if you catch my drift.
Schumer: "making America the best-housed people in the world". This sounds like elitist mentality from Schumer, saying that America's people have to be housed better than people from the rest of the world. He wants everyone to be living in a house, whether they can afford one or not, as long as Uncle Sam (really us taxpayers) will pay for it.
Barney Frank should be found guilty of conspiring with fellow Democrats to keep the status quo with Fanny Mae while knowing all along that it's risky lending habits were going to spell out disaster for our economy. I say we should first reach deep into the pockets of Barney Frank (while wearing gloves of course) as well as Barack Obama. They've received loads of Fannie Mae & Freddie Mac dollars, and I want them to pay up before I want my fellow citizens to. No Bailout!
Can you believe that Dod and Frank had the nerve to try and divert 20% of the the orginal 700b to ACORN. 20%, OMG wake up, I can't believe these thieves are not called out on this!!!
Great segment!! This should be a McCain ad. When will Americans get their heads out of their butts and see what is going on in Congress by Barney Frank and Friends?
Great segment by Bret Baier. Too bad this isn't played for all Americans to see--oh, I forget that my liberal friends only get their news from Comedy Central.
This Thing has caused..so..many..problems..for the.United States of America...where..WILL..it..end...when..those..who..can..(do..whatever)at..will..WHAT..is..going..ON
Typical Fox spin! Hey, let's blame the minorities and the democrats. What really killed Fannie Mae and Freddie Mac was the change pushed through by the republicans that allowed banks to guarantee their own subprime loans as secure and then sell them to Fannie and Freddie. That way all the banks could push profitable subprime loans on people (60% of whom qualified for prime loans) whites, blacks, everyone! And then turn around and sell them. The rates ballooned and the people defaulted!
BArney Frank is a fat fucking faggot who robbed this country!!! And the dumb fucks from MAss. will reelect him!!!! HA! They deserve t get fucked by that lisp talking buttfucker!!!
Time has come to arrest Barney, Franklin Raines and all black dummocrats who blocked regulation some years ago. Charge conspiracy to commit fraud. That is the only assurance we'll get that this will not happen again. Bush needs to grow a pair and arrest these lowlifes that have screwed all of us over. Take all their assets and then we'll talk about a fix. That is if Bush is a conservative and wants to fix the country. Arrest these monkeys!
this stuttering lisping fat fuck barney frank is a corrupt criminal thast should be thrown out on his fat ass he was blaming the reps for the failure of the banks and the blocking of the buyout bill, the DEMS HAVE THE MAJORITY OF CONGRESS THEY DIDNT NEED REP VOTES HOW DARE HE BLAME ANYONE OTHER THAN DEMS CRIMINAL TRAITOR STRING HIM UP IF YOU CAN FIND A STRONG ENOUGH ROPE
Liberals are the cancer of our society. Why people vote them in is still beyond my comprehension. I am one of the few conservatives from socialist New England.
If the Bush administartion knew as early as 2001, and they had a republican house, president, and senate why didnt they do anything if they were all so worried????? Because its a sham lie, and by the way, even though Frank said that, neither party does anything with the private sector until emergency response is needed. The republicans controlled the House and Senate from 1995 until jan of 2007.
Thanks to Barney, Chris Dodd, Harry senile Reid, Maxine Senile Watters, Barbara Boxer, Diane Fuckstein, Ted Kennedy, and House Speaker Arrogant Peloser for making my savings go downtown to persons who never worked - may they all die soon.
A rich fagot who pockets money for his young butts and caused my IRA Roth to fall - I will never never working hard retire - thank you Barney and Chris Dodd - you have now made me welfare so I am off to welfare office to collect tax dollars to live - why work - I will vote Democratic - Crime seems to pay
Kudos to foxnews for the reporting on this. I knew Crappy News Network (or Black news network) and MSketchup were left but this proves they are totally in the tank for Obama by refusing to report on what's important to the American people. This is important, this affects all of us. This does it for me, the deceit that the dummocrats have shown along with Obama who has profited from this crisis (contributions) have convinced me that they care less about me and the rest of America.
Obama $126,349 from Fannie and Freddie employees in three plus years since he was a US Senator. John McCain $169,000 from directors, officers, and lobbyists for Fannie Mae and Freddie Mac in 2008 alone. Do some more research to find out the truth. According to the facts and your thinking McCain care less about you and the rest of America. Stop being so bias that you don't want to see the whole truth. We are so divided as a country. Everyone had a part to do with this crisis.
Show me where you got the figure for McCain. The figures I have seen from sources like factcheck show about $44k. Are you sure you're not the one biased? And while we are divided I could never support people who try to deceive me by fudging the facts and then try to blame the other party for their mistakes. Deceit breeds more division. Did you actually watch the video? Back up your claims and don't waste my time.
Barney Frank's homosexual relationship with Herb Moses (Fannie Mae executive) has not even been whispered in the mainstream media...classic and usual cover-up. Check it out for yourself if you are one that is intellectually honest and not just trying to push the old "right thinking us , wrong thing them" mindset. How did he get the job, how much of our $ was he paid ?? I'm sure NBC will look into this matter...ha.
Campaign Director Rick Davis is the tip of the Freddie-Fannie-McCain iceberg.
Senator John McCains senior adviser Charlie Black, his campaign vice chairman Wayne Berman, his Congressional liaison John Green and (the reported) head of McCain's White House transition team Arther Culvahouse either made fortunes from recent Freddie-Fannie lobbying or were players in lobbying firms that did.
This would be why so many voters look upon Senator John McCain as McSame
It's funny how they are trying to blame the Democrats for this problem when the Republicans had the majority at the time. If they wanted to do something then they could have. Fox is notorious for editing things to make the right look good and the left look bad. We all know that's a fact. Those who say otherwise are unable to get their ass off the couch to change the channel because of a broken remote control.
The party of no responsibility continues to employ their motto. Not only are they bailing out "victims" losing their homes, they continue to subject us to individuals like Barney Frank. Not only did Barney protect Fannie and Freddie, he pushed for additional low income loans. While there is plenty of blame to go around, Barney dodges all responsibility while placing blame on others. Perhaps he is just promoting the party motto.
So a government sponsored entity (GSE) pushed by President Clinton threw caution to the wind to make bad loans. It is no wonder the insiders cashed out their stock options as they knew ahead of time this was going to end badly! It is funny to hear government now wants to punish them for doing what they were told.
How ironic. The most right wing government in generations will now be responsible for the socialisation of the financial markets. I think I can hear Karl Marx spinning in his grave! Hardy-fucking-har. :)
I honestly do want to hear the whole story on this, but if there's more to it than Fox presents, we won't see it until after the election. The media are in the tank for Obama just as they were for Carter. It will work out the same for the country, I'm afraid.
Frank insisted that Fannie Mae and Freddie Mac were in good shape.When the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis." When the White House warned of "systemic risk for our financial system" unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.
This is all true. I am in the business and have followed it closely for the past ten years.
But, CNN could make the same video from the other perspective. There have been several democrats who have raised the red flag on FNMA too. The politicials in control of both parties have gotten where they are by winning power, not solving problems. I am all for a house-cleaning.
Republicans had the majority. They did not control anything. Look how the dems can't do anything about Iraq even though they are "in control.". Being in the majority only works if you can get at least some of the minority to vote with you. Why go to work if you have no power?
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t RON PAUL ...662 GROUPS..12 COUNTRIES
Ron Paul Campaigns Meet ups around the world
MITT ROMNEY ....1 GROUP ....
Meet and Greet Newt Gingrich..1 ..LOL
Sarah Palin Meet up Groups ....6
Herman Cain for President Meet up Groups ...3
We must end this main news media side show.... Get active if you really know whats going on ..
2020starman 7 months ago
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The biggest minority quota's 5.5 million came from the Bush Administraion So did no money down.
1/20/2004
By Thomas A. Fogarty, USA TODAY
Bush seeks to increase minority homeownership
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.In announcing the plan Monday at a home builders show in Las Vegas.
mrgetrealpeople 1 year ago
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The biggest minority quota's 5.5 million came from the Bush Administraion So did no money down.
1/20/2004
By Thomas A. Fogarty, USA TODAY
Bush seeks to increase minority homeownership
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.In announcing the plan Monday at a home builders show in Las Vegas.
mrgetrealpeople 1 year ago
This has been flagged as spam show
The biggest minority quota's 5.5 million came from the Bush Administraion So did no money down.
1/20/2004
By Thomas A. Fogarty, USA TODAY
Bush seeks to increase minority homeownership
In a bid to boost minority homeownership, President Bush will ask Congress for authority to eliminate the down-payment requirement for Federal Housing Administration loans.In announcing the plan Monday at a home builders show in Las Vegas.
mrgetrealpeople 1 year ago
at 1:45 they say "the legislation was blocked." who blocked it?
exbronco1980 1 year ago
What gall Baney Frank has, to say he didn't "see" any problem with Fannie and Freddie and then say even if they did get in trouble "the federal government would bail them out"!!! And this was while his boyfriend was running Freddie and making millions of dollars before jumping ship just before it was discovered they had been cooking the books! If there is justice in this country anymore, Bielat should win election and Barney Frank and his boyfriend should go to JAIL!
Deborah8050 1 year ago 2
@Deborah8050 For someone trying to regulate Freedie/Fannie it's funny Bush got 440 Billion for minority loan purchase commits from Freedie/Fannie in 2002 for his Goal of 5.5 Million minorities by 2010.....don't believe me , believe your own EYES
watch?v=kNqQx7sjoS8
This video is Bush in His own words start about 4:00 minute mark or watch the whole video.
mrgetrealpeople 8 months ago
Funny. Now Bawney Fwank says Fannie and Fweddy should be "abowished"
miazagora 1 year ago
the good old corrupt tv. the tv will take your life away and make you think like a sheep. it herds thinking. then that thinking is manipulated. the tv company often benefits from that cycle. throw your tv away. it only tries to form your opinion.
rightfredsdead 1 year ago
In 2003, both the senate and the house had a Republican majority.
locomoncayo 1 year ago
@locomoncayo but your glasses on this crash was in 2008, both the Senate and the House had Democrat Majorities. During which both the chairman of the Banking Committee and the Chairman of the Finance Committees, which ramped up and jammed through the Community Reinvestment Act, were both Leftist Democrats-your pals Barny Fwank and Christopher Dodd. Please get your facts together prior to posting nonsense, it makes you sound ridiculous. Thanks and keep coming back.
poldiddy 1 year ago
@poldiddy The crash happened in 2008, the video clearly says that the "warnings" were given in 2001 and 2003.
locomoncayo 1 year ago
@locomoncayo Your point? The video shows leftist sleaze bag Barney Frank babbling that everything was fine. The leftist Community reinvestment Act, which was developed contrary to anything resembling common sense, was at the heart of the idiocy. It was created by the (D) Carter Administration & rebooted by the Clinton. You can lie to yourself and make baseless accusations, but the Standards for Prudent Banking were willfully &forcibly set aside by the Democrats.
poldiddy 1 year ago
@poldiddy I have no idea why you keep insulting me, calm down bro. We're in the comments section of a youtube video.
locomoncayo 1 year ago
@locomoncayo Because obviously you have not watched all of the videos and not thoroughly studied the issue. If you had, you would have seen clear videos of Barney Frank professing that Fannie and Freddie were completely financially sound, within three months of the big crash. Wake up and educate yourself prior to taking positions which are factually invalid.
poldiddy 1 year ago
Or a better idea, how about we dont have a pseudo government agency forcing banks to lend to those who dont qualify? It seems that government first sticks their regulatory noses where they dont belong, then create a problem in free market, then make more regulations to solve a problem they created in the first place. If you have a broken leg, you dont take pain killers do you?
samuils 2 years ago
Special Report is one of the best shows on FOX. Political Grapevine is the best segment on the show.
PoliticsCentralX 2 years ago
Barney Frank of fucking Massachusetts is fucking all of us.
THE PEOPLE OF MASSACHUSETTS NEED TO THROW THIS CLOWN OUT NOW.
FUCK. anybody is better than Barney
TheLiberalssuckdick 2 years ago
he is one of the worst pieces of garbage in dc, people from his district are obviously just as ignorant as he is and will probably re- elect him
wsmith1213 2 years ago
I've got a stupid question to ask. Why aren't these people in jail?
BeantownJim 2 years ago
This is not easy to find with liberal Google.
tnekkc 2 years ago
Comment removed
We4get1918 2 years ago
tnekkc hilarious joke
Anyway 2 all of u, wow ad hominem attacks, how mature.
2 quote some of the people u just finished blowing 4 the last 8 years, "if u dont like America & our president, u can just GET OUT!!!"
U can go 2 all the countries that fit ur view of an ideal country & agree with u points of view
...thinking...thinking
Lets see, extremely conservative, antisemitic, religious, want prayer in school/gov't, homophobic. Go 2 Iran fucktards. Just switch 1 imaginary prophet for another.
We4get1918 2 years ago
I hope Barney Frank chokes on a dick, fucking bastard ruined this economy
TheInfamous302 2 years ago 2
Frank's quotes were not, all of his fancy-boy blustering aside, taken out of context. I have reserached and red many of his quotes from hearing of that period and they are all the same. He can try to redact all he wants, but he's right in the middle of this with many many others. I hold Bush responsible as well along with Chris Dodd, Maxine Waters, et al - stop your partisan bickering and get behind real reform effort stating with kicking all these bums out.
slbwoods22 2 years ago
talk talk talk,
all to hide guilt.
you will be held responsible.
i.o.w. you will pay for your crimes.
all bankers and alike have something coming.
people o/t world, it's time for payback.
dieper2dieper 2 years ago
it's amazing how right wing morons and zealots twist facts to suit their intentions... completely ignoring context in both statements of barney frank and circumstances of the financial meltdown... this is nothing more than another big fat lie by foxnoise...
bbbbmer 2 years ago
With a statement like that You sound as morally bent as that dick sucker and his marxist malato master
BeantownJim 2 years ago
Abe Lincoln was what they called a Republican at that time, which is now called a liberal. Both parties switch their directives every 40-50 years or so. and Southern Fried its absolutely obvious at this point the liberals are the ones fighting for civil rights, every oppressed group of people votes for the democratic party. Not that it really matters, its called a two party system cuz they have us take part in meaningless elections then have a party as they run off with the money.
fuckinabich 2 years ago
Abe Lincoln was of the WIG party in Illinois before his presidency
BeantownJim 2 years ago
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Bret Baire, the same guy at Fox (Fixed) "news" who snarled about "Global Warming" while citing a few nights of "colder temps". So typical of Fox "news", who lies that it's "fair & balanced" but hires Reagan's Oliver North & Bush's Karl Rove.
1.) Warming theory PREDICTS both COLDER & WARMER imbalances..
2.) Thousands of scientist confirmed global warming.
3.) NASA confirmed Greenland & Arctic ice sheets are shrinking.
4.) Glacier National Park is down from about 150 glaciers in 1910 to 27 now.
Dallas767 3 years ago
Liberals play we pay. Idiots still believe these fools have bleeding hearts for the little ppl. Actually they are ashamed of the little ppl, the elite is who the prefer. The little ppl are just a stepping stone, a slave, a tool for holding office by giving you false hope. MLK was a Republican. Abe Lincoln started the Republican party. No self respecting person would hold onto a party that enslaves for gain.
SouthernFriedGood 3 years ago 2
SoutherFriedGood, since you think in sweeping generalizations, undigested slogans & blanket stereotypes, which elite are you referring to? Millionaires Bush Sr., Bush Jr. who's family got rich hobnobbing with the elites in the Nazi Party in the 30s? Limbaugh with his millions?...or O'Reilly, Hannity, Ann Coulter, etc. who smear and slander half of the population for not thinking as they do? Or Cheney? - former CEO of Haliburton who cost us $1 Trillion in Iraq, borrowed from communist China.
Dallas767 3 years ago
So, you're OK with these quotes of Barney Frank's, Dallas ? You can't acknowledge this guys incompetence ?
scootientherock 2 years ago 2
Bawney Fwank is a disgwace and shwould wesign alweady
philblunt420 3 years ago 3
Spot on
sixprong 3 years ago 3
What's with the fuckin' W's ?
whotheman53 3 years ago
listen to Bawney Fwank speak and you'll know
philblunt420 3 years ago
smokerhumor ..
Hilkertman 2 years ago
It only seems more and more clear that we don't own this country any more, maybe we never did
Paramedic851 3 years ago
Queen Barney Frank. Now that you've caused destruction of the American economy with your political incompetence thru the years and blame others for it. Your political history places you on a level BELOW Judas Iscariot. At least Judas had the balls to hang himself after his wrongful actions. But you haven't removed yourself from society which proves your gay balls are completely USELESS and less than the balls of Judas.
Queen Barney Frank, you don't deserve honor.
CommonSpecies 3 years ago 3
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We are at the non-sustainability point of Democracy!
Pattern that put the banking Mafia in Charge: Community Rein Act, its enhancement in 95 under Clinton; ending the 1933 Glass-Steagall Act; Sarbanes-Oxley Act of July 2002; lifting of leveraging rules; TARP; elimination of the Uptict Rules; FED now rules commodity market = electronic counterfeiting of commodities (ending of 5th Amnd constitution of title); counterfeiting of securities is the new drug!
sugarpuddin88 3 years ago
The Repubs killed the 2006 legislation in the Senate, Freddie paid a lobbyist DCI who targeted 17 Repubs to defeat the bill without their votes the bill would not have passed.
The GSE's were not the cause of this mess they are a secondary mortgage companies..
Their share of sub-prime loans was shrinking, in 2004 Bush adm. pushed new minority home-ownership. HUD who sets the goals of the GSE's increased the percentage of loans for low and moderate buyers for years 2005-2008.
barbee11 3 years ago
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As a lifelong Democrat, it saddens me to say that Obama and Barney Frank - along with Dodd - all agreed months ago - indeed weeks ago - that Fannie/Freddie were in fine shape. Truth is, the Republicans had been calling for more regulation and warning about reckless lending practices of Fannie/Freddie for sometime. (BTW, whats wrong with Barney Frank? Why does he talk like Elmer Fudd?)
UnconcernedCitizen 3 years ago
It's a speech impediment from years of smokin' pole.
z8it 3 years ago
The Ponzi scheme goes into overdrive with the Lehman securities auction. The verdict? Lehmans' assets marked down to 9 cents on the dollar. The losses are covered by the CDS "insurance" to the tune of $400B. More than enough to implode several other derivative writing institutions. This auction alone is worth half the bailout package. The coup de grace will be exposure of the JPM, GS, and MS derivatives liability. I don't think they'll live to see November
TYX91101 3 years ago
McCain just posted a video on ACORN.
watch?v=0dlnt9maBJA
utubeusa1 3 years ago
The fact (FACT) is that all of this mess starts with ACORN, who used scare tactics dating back 12 years ago to pressure bank presidents to push through questionable housing loans to low income families. They did this with the assistance of a smooth talking lawyer who also provided training to the upper core staff to legally press for these bad loans. And yes...the smooth talker was Mr. Barack Obama.
Don't drink the Kool Aid!!!
RockinHGoddess 3 years ago 3
Look John Wi11iams you can point fingers as much as you want, but the fact remains the video shows Blarney Frank stating that there is no problem with Fannie & Freddie.
The amount of leveraging doesn't matter if slackers would pay their bills. If I sign a contract stating I will pay $x then I should pay $x. The fact that so many people stopped paying their mortgages in a very short time started the chain-reaction.
THIS is what Gov't. programs get you...
1978RDC21 3 years ago 7
So the Republicans now claiming that Democrats OPPOSED regulation? I am waiting for your head to explode.
j0hnwi11iams 3 years ago
Exactly how much did the GSEs contribute to the banking crisis? 85B? That seems like pretty small potatoes compared to the 700B Paulson asked for (added to what has already been used for bail out).
A reasonable estimate would be that the democrats contributed 10% of this mess, IF everything said so far were taken at face value.
All this because the democrats would not support an ideologically rigid bill that would have ham strung the GSEs. Republicans undermine government programs.
j0hnwi11iams 3 years ago
"Exactly how much did the GSEs contribute to the banking crisis? 85B?"
Fannie/Freddie guarantee 6T in mortgages, or ~40% of the 14T estimated U.S. housing value. (based on Paulson's assertion that 700B was 5% of all value.)
Freddie was set up to create a secondary mortgage market. The need to screen out risk was obviated by flipping. Fannie (assisted by Frank's boyfriend) invented & pushed new, risky loan instruments. Everybody abused them, but this is how the market was flooded with cash.
omegabit 3 years ago
The amount of bad risk they took on is indicative of the figure in the bailout, or hadn't you figured that out by now? The GSEs were only allowed to purchase conforming loans. There are standards for down payments, source of income, and amount of loan. The vast bulk of the bad debt is in the private sector, where deregulation allowed for mortgage backed securities to be sliced and diced to the point where it was impossible to figure where the risk was.
j0hnwi11iams 3 years ago
These instruments became opaque. That by itself has a huge effect on investor confidence. That is a big reason why the bubble is not contained. These firms were handing out no income, no job, no assets required, no money down and no payment on principle balloon loans to the speculators trying to make money fast in real estate.
j0hnwi11iams 3 years ago
Yes, what part of 6T in mortages or mortgage guarantees was I not clear on? 45% of all outstanding U.S. housing. Fannie was in the business of creating these loans instruments and guaranteeing them. Once they existed, people used them like gasoline on a fire.
You're wrong about amount of risk represented by the bailout. $700B represents the cost a 5% failure rate of all outstanding mortgages. (The actual failure rate is only 2%.) It would shoot up significantly w massive unemployment.
omegabit 3 years ago
There were PLENTY of other firms involved in Mortgage backed securities who were involved in much riskier loans. They would separate loans bundles into different risk tranches making AAA securities out of balloon loans. The credit defaults swaps were completely unregulated and themselves bundled into cash flow securities. There was no knowing what was what and where the buck stopped.
j0hnwi11iams 3 years ago
I agree there was a lot of Wall Street gasoline poured on this fire. IMO, the dirty secret is:
1. These instruments were exploited by speculative yuppies far more than by unqualified buyers.
2. The mortgage flipping industry yielded massive bonuses. Bonuses, not good intentions, are what was really driving things at Fannie/Freddie.
But, I am saying that Fannie & Freddie owns an incredible percentage of this bad debt, that it created the situation in the name of A.H., and lit the match.
omegabit 3 years ago
The bad debt is reflected in the losses, the $85B that they needed for bailout. The bubble burst in the hedge funds and high risk junk securities first, the stuff that had absolutely no safety margin at all. The speculation in derivatives alone makes the whole game highly suspect.
j0hnwi11iams 3 years ago
CRA is also sighted as the cause for making risky loans. The truth is that CRA loans account for less than 10% of the bad loans made. What risks liberals took to extend credit to lower income families pales in significance to the outright gambling going on on wall street. The republicans are dishonest to the core and have to interest in digging any deeper than this.
j0hnwi11iams 3 years ago
It's very clear to me the republican propaganda network is going to attempt to use liberals as SCAPEGOATS again. They were only one forcing factor that was driving inflation. There were other more significant factors, primarily firms that engaged in MUCH riskier loans that would put these through the financial meat grinder and turn them into AAA rated securities. These firm were MUCH more leveraged than the GSEs, on the order of 30 to 1.
j0hnwi11iams 3 years ago
I'm a soldier in the U.S. army, and even I am sick of hearing all of this. When it comes down to it, I fight for my COUNTRY, not the courrupt government that has choked the very life out of our people with the "fuck everything up and then point fingers" plan. Its times like these when I would rather be living in the middle ages.
Notyouraverageperson 3 years ago
We listened to the FOX news special Sunday evening regarding Barack Obama's ties with ACORN(Association of Community Organizations for Reform)and others. It appears that much is about to surface from FBI investigations.
Now it is up to MSNBC or preferably Barack Obama to give the American people their side.
At a time like this, we all need to become Americans. Government will not rescue us. We must all listen very closely with unbiased ears. Our FREEDOM is just too precious to do otherwise.
ndonson 3 years ago
BUSH, JOHN SNOW, McCAIN and many Republicans WARNED about this looming crisis.
Watch this Video of proof that DO NOTHING GOOD LIBERALS shut down the concerns of Republicans.
HERE IS CLEAR PROOF of how this CRISIS came about and PROOF that Republicans wanted to reign in The Mortgage industry and LIBERALS BLOCKED THEM at every point.
Watch this Video:
rodIc9E1g7E All in the Family.
SMOKING GUN PROOF that Barney Frank is a BOLD FACE LIBERAL LIAR.
PORTUGAL1010 3 years ago 5
This program should be required viewing before anyone decides to vote for the Obama fairy tale...
051038 3 years ago 3
The only reason the republicans were pushing for that was that Wall Street wanted to get more involved in directly buying the mortgages from the loan givers and to push Fannie and Freddie out of the market. Look at the New York Times article from yesterday about Fannie and Freddie.
writemrbond 3 years ago
Democrats buy votes with the tax payers money by giving Fannie and Freddie blank checks and blame Bush for this housing and financial meltdown. Now they abuse their own mess to buy votes again with the taxpayers paychecks.
0cogi 3 years ago 3
It is actually the fault of the Clinton administration... Bill Clinton and his band of free credit whores pushed Fannie Mae and Freddie Mac into giving loans to under qualified (mostly minorities) mortgagees thus creating our current situation. If you don't believe me go look at the most liberal source of information the New York Times. The article is from September 30th 1999 titled "Fannie Mae Eases Credit To Aid Mortgage Lending"...
Stick that in your liberal pipe and smoke it!!!!!
cherney1 3 years ago
here comes the finger pointing game, the root of all this madness can be traced right back to the lieing blow job king..the Clinton's. now Rudy Giuliani's firm will be tapped into the bailout bucks, he will get billions of out money. Fannie and Freddie are the cash cow for the congressional black caucus. in a crucial time for a bill thank Harry Reid for adding on all the pork. u.s.a is doomed.
pennieless 3 years ago
Barney frank: "These are sound and even if they aren't, the government doesn't bail them out."
butcherboy2008 3 years ago
W. f@#ked up this country and faux news helped him along.
XxrunoxX03 3 years ago
Interesting how main stream media seems to have lost those quotes of Frank. Seems he has forgotten about those statements as well. Prison time may help jog Barney Frank's memory.
horizons777 3 years ago
Isn't it ironic that those very people who have gained the most from the economic scandal, are the ones who were chosen to head the committee to draw up the 451-page, pork-laden bill?? What the ----? Barney Frank's lover works for Fannie Mae, so he has a conflict of interest! Chris Dodd and Barack Obama are the two recipients who have received the highest amounts in contributions -- and both also got "sweetheart" deals! And where are Raines, Cox and Johnson? Will they be indicted?
LisaClark45 3 years ago 2
Barney Frank Rubble should be run out of office. Why haven't the networks run this guys history of poor leadership? Oh, They are to busy beating up on Bush and getting Obama in the WH.
wsoxman 3 years ago 2
What a fag! If he'd take the dick out of his mouth I could understand him!
BarackObamaIsAThug 3 years ago
"Freddie Mae -- Fannie Mae and Freddie Mac -- I see the heads who are here; I want to thank you all for coming -- have committed to provide more money for lenders. They've committed to help meet the shortage of capital available for minority home buyers. (cont.)
hairballs99 3 years ago
Fannie Mae recently announced a $50 million program to develop 600 homes for the Cherokee Nation in Oklahoma. Franklin, I appreciate that commitment. They also announced $12.7 million investment in a condominium project in Harlem. It's the beginnings of a series of initiatives to help meet the goal of 5.5 million families. Franklin told me at the meeting where we kicked this office, he said, I promise you we will help, and he has, like many others in this room have done. "
President Bush 2002
hairballs99 3 years ago
Franks is an idiot. Pelosi is an angry, bitter woman who can't put aside her own animosity toward Bush for the better of the country. Harry Reid is a disgrace and baffoon. If this is the best the Dems have to offer, bring us the Geico cave man.
ashirj 3 years ago 4
ash, I second those thoughts
alperry62 3 years ago
U might want to consider any material that is controversial about where is it coming from and what is that poster's agenda? I really wish I could get the facts without someone's biased 'spin' on these issues. Boggings great, but it has it's downside too. You have to figure out which ones you can trust, just like any proffesional journalist.
Licmycat 3 years ago
Financial economics dealing with sophisticated issues are too advanced for the meek liberial democratic mind. They don't even know when the sh***t hits the fan!!!
formulaprimer 3 years ago 2
Bush did know about the looming problem w/ Freddie Mac & Fannie Mae & he pushed Congress to pass a bill to regulate the both instituions however DEMOCRAPS blocked the legislation in 2003. This was all on Barney Frank's watch who was chairman of the Financial Committee! He even stated that these institutions were doing a great job & that anyone who disagreed w/ their success was "exaggerating." Now we have a plan to "bailout" the Democrats mess. Oh wait, am I exaggerating?
jenyapena5 3 years ago 2
FLHTP07 Don't waste your time on someone who evidently does not want to hear or see the facts. That is why Liberalism (Or leftwing Democrat ideology) is truly a disease. It is clear that the Dems were guilty then, are to blame now, and will continue to damage this country at every opportunity !
fernetti77 3 years ago
Yes... liberalism is a disease and Ann Coulter is the gospel.
officialusa 3 years ago 2
If you have a problem with what Ann writes and says then prove her wrong. Liberals can not do that so they attack her.
Your turn slick.
FLHTP07 3 years ago
Prove her wrong? She said she would campaign for the democrats if mccain was the nominee, I have yet to see her on the Obama campaign.
Slick? Slick would be to not defend a anorexic loudmouth coat rack.
officialusa 3 years ago
she picked an old fart over a terrorist commie. Who wouldn't?
manusaini78 3 years ago
Fox is the only network even talking about this. The others won't touch it. WHY is that?
There was a video here that in 9 minutes explained the whole thing but the powers that control youtube took it off. Why Is That?
FLHTP07 3 years ago 2
I do not defend the other networks and their lack of reporting.
But I don't think youtube is a left wing conspiracy either.
officialusa 3 years ago
I didnt ask you to defend them. I asked, Why Is That?
You tubes censorship is well known and we all know it.
FLHTP07 3 years ago
95% of US media is controlled by 5 corporations. Why you ask??? Like right wing faux, other networks are most likely promoting their own propaganda.
Yes, youtube censors. Most recently at the request of Lieberman who is backing Mccain.
officialusa 3 years ago
Gatekeeper:
You are wrong. Phil Gramm introduced the original legislation, but Bill Clinton approved and signed the bill.
srich710 3 years ago
this fat-blubbering pile of shit---can you believe the nerve of this guy?? to show his face when he is one of the main democrats with blood on his hands----amazing.
rocketman6464 3 years ago
The American Public are being softened up for a huge rip off. If you think 700 Billion is a lot you wait til it gets to 2000 billion next year! The vote failing yesterday was just part of the scam so you all start thinking '..maybe we should do something to help..' Do not be fooled - hold your nerve - these Vampires only stop when there is no blood left!!!!
F1Reporter 3 years ago
Faux is not news.
Fox videos = 1 star.
officialusa 3 years ago
You are an idiot.
You have been watching too much of the koo aid drinkers on MSNBC
srich710 3 years ago
if you enjoy being misinformed... keep believing fox is real news.
officialusa 3 years ago
from another agent of obama and NBC
gpscfd 3 years ago
yup.. the typical left wing liberal media you hear about all day on right wing radio and faux.
Give objective thought a chance.
officialusa 3 years ago
Show us where that report is wrong. You can't!
FLHTP07 3 years ago
It is not that this specific report is wrong. It is right wing propaganda and irrelevant to
the current crisis. And if it IS the cause of the crisis it wrongly suggests the democrats are to blame.
2001: Bush red flag fred and fannie
2003: regulation legislation blocked
2005: greenspan input
May 2006: Mcccain bill
"Fearing they could not pass mccains bill repubs did not bring it up on the senate floor".
Dems did not take control until November 7, 2006. Even then and now no large majority.
officialusa 3 years ago
note: I am not saying the democrats are not ALSO to blame... they share responsibility. I am saying this report is far from "fair and balanced" as is 90% of their other reports.
officialusa 3 years ago
Attack the messenger because you cant follow along with the facts. Brilliant.
Thats page 127 of the socialist playbook.
FLHTP07 3 years ago
On what page in the socialist playbook does it talk about socializing bank and insurance company company losses?
The messenger is not factual.
officialusa 3 years ago
The socialism is in forcing banks to loan money to people who could not repay to buy homes they could not afford.
Look at the Schumer quote. Listen to Barney Franks. Fox News did not make this stuff up.
Conclusion is simple. Either demorats have no concept of economics or they are elitist socialist who think they can do better then those who have failed before them.
FLHTP07 3 years ago
I agree with you about "The socialism is in forcing banks to loan money to people who could not repay to buy homes they could not afford."
That is very accurate!! However, as this video states, the Bush admin knew about this back in 2001. They passively or negligently let the problem continue for 5 years. Now, the current republican Bush admin is socializing corporate loses.
You have to admit both parties are to blame, yet faux is one sided. Much like other networks for dems. That is my point.
officialusa 3 years ago
Bush and others tried multiple times to change this but the Senate would not go along.
Look, a 51% will give you the majority in the senate but that will not get you control over the committies or whats brought to the floor It takes 60% and none of the dems would support controls on fannie and freddie.
Listen to Barney Franks. Read Schumers quote.
In case you did not know it, in this United States, The President CAN NOT make laws.
He raised the issue 18 times this year alone.
FLHTP07 3 years ago
You need to go learn the rules of the Senate and stop calling what you dont understand propoganda or irrelevant. It was exactly the democrat run Macs and the socilaist policies and huge bonuses that caused this problem.
It all started with carter and made worse by clinton. And Franks... he should be in Gitmo.
FLHTP07 3 years ago
Why dont you make an effort to show us just what is not correct in that report?
Come on. Give it a try.
FLHTP07 3 years ago
More republican lies! Obama has talked to Raines once! Look at McCain! 19 of his advisers and fundraisers lobbied for Freddie and Fannie. Rick Davis was getting $15,000 a month! Also, 8 worked for AIG! Not to mention that executives of top Wall Street corporations have given McCain 10 times as much as Obama. And Phil Gramm started it all in 1999 by deregulating the banks so that they could guarantee the security of their own bad subprime loans and then sell them to Fannie Mae!
writemrbond 3 years ago
republicans controlled the house and the senate in every year cited here. bush also supported home for low income families. "Too many American families, too many minorities, do not own a home. There is a home ownership gap in America. The difference between African-American and Hispanic home ownership is too big," Bush 2002
also please google Phil Gramm, McCain's advisor and his role in deregulation.
hairballs99 3 years ago
I will say both republicans and democrats are to blame.But don't forget the bush administration set the deregulation in motion.I think it's important that everyone knows that the republican party believe by hepling out big buisness it will ultimately trickle down.Democrats believe by helping folks with lower incomes it will increase the consumption of stock on the market so to speak,essentailly trickling up stimulating the big buisness.Rep's ussually side with the buisness owners not consumers.
gatekeeper11111 3 years ago
I was voting for Obama until I seen this. McCain gets my vote!!
tony50196 3 years ago 2
Ya know what sucks... BOTH sides friggin lie!! There were also HR's sent to the floor by Dem's regarding the crisis in Fannie and Freddie, but since these jerks put other things in the bills, to please they're own lobbiests, NOTHING GETS DONE!!! This is not a democrat caused problem, its not a republican caused problem, its a lobbiest caused problem. But to put Fox News right, the republicans controlled the 108th house, back in 03 when this came about.
yul65 3 years ago
"even if there where a problem, the federal government won't bail them out" Barney Frank (D)
Are you kidding me- this needs to be McCains next ad.
PS- Barney also tried to force feed a 20% bail out for ACORN - which is a corrupt, ill run organization. btw Barney tried to slip that in the initial bill language which got stripped out.
TO
timorourkecps 3 years ago
Another related youtube video:
Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
jamaljk85 3 years ago
McCain/Palin 08!
Juan6804 3 years ago
Frank,Shumer,Dodd, Pelosi,Biden They need to go!! Affordable housing is killing us! It was not to little regulation it was bad regulation. Time they pay the piper! No Bail out!! 100% acountability!!
john51880 3 years ago
Why do you continue to get all your 'news' from Fox? At least balance the picture with some actual news.
Emerson said" The god of the cannibals will be a cannibal, of the crusaders a crusader, and of the merchants a merchant." And, the god of the morons will be a moron! Think before you vote!
ventaphineas 3 years ago
Fox news!!! I wish fox news would report half of this stuff Demacrat or Republican. At this point you need to think for ur self.If you want the truth look at the voting records and get rid of this scum. From the GOD of think for yourself.
razorx3113 3 years ago
A reply to ventaphineas: people like you, who can see actual footage of politicians commenting on something but you choose not to believe it, is why we are in the fix we are in. FOX is courageous enough to present actual happenings, to actually give you real footage of something that was said by politicians; is willing to stand up against the leftist agenda of the rest of mainstream media. But you want to remain ignorant. You want to believe what you want to believe. Get real
aweaverolivet 3 years ago
What alot of people even myself don't see,is the fine print on these bills that are portraid through this"actual footage"of congressional hearings.You see when you hear about this polition or that polition voting this way or that way to for instanse to "cure cancer" What most people don't see is the language on page,89 paragragh,7 article,3 that outlines sensitive information cocerning what programs will be underfunded as a result.My point is 2+2 doesn't always equal 4if you catch my drift.
gatekeeper11111 3 years ago
Schumer: "making America the best-housed people in the world". This sounds like elitist mentality from Schumer, saying that America's people have to be housed better than people from the rest of the world. He wants everyone to be living in a house, whether they can afford one or not, as long as Uncle Sam (really us taxpayers) will pay for it.
Gerts4th 3 years ago
Barney Frank should be found guilty of conspiring with fellow Democrats to keep the status quo with Fanny Mae while knowing all along that it's risky lending habits were going to spell out disaster for our economy. I say we should first reach deep into the pockets of Barney Frank (while wearing gloves of course) as well as Barack Obama. They've received loads of Fannie Mae & Freddie Mac dollars, and I want them to pay up before I want my fellow citizens to. No Bailout!
Gerts4th 3 years ago 2
It's hard to understand how this clown can get elected doing anything short of dog catcher. What the hell is going on with our country ? My god.
RRT44 3 years ago
Not just Acorn, but La Raza. The militant
Hispanic group that wants to one day regain
much of the U.S. Oh, and guess who built
all these homes over the last 10 years that
were bought by people that could not even afford them, illegals. This is unbelievable.
gunsandguitars7 3 years ago
This is possibly the most wicked man to ever
be in our Congress. Please folks up there in
Mass, vote this despicable man out!!
gunsandguitars7 3 years ago
Can you believe that Dod and Frank had the nerve to try and divert 20% of the the orginal 700b to ACORN. 20%, OMG wake up, I can't believe these thieves are not called out on this!!!
razorx3113 3 years ago
hey Barn you think after raping millions from taxpayers you could afford some teeth.
TwistedUP247 3 years ago
Great segment!! This should be a McCain ad. When will Americans get their heads out of their butts and see what is going on in Congress by Barney Frank and Friends?
gomillionj 3 years ago
Uh..Barn...would you please remove the cock from your mouth BEFORE you attempt to speak you queer!
MoreLoans 3 years ago
Great segment by Bret Baier. Too bad this isn't played for all Americans to see--oh, I forget that my liberal friends only get their news from Comedy Central.
This should be a McCain ad!!
gomillionj 3 years ago
Hey Fat Barney!!!
You sound like Elmer Fudd, you traitor!
revolutionU2 3 years ago
This Thing has caused..so..many..problems..for the.United States of America...where..WILL..it..end...when..those..who..can..(do..whatever)at..will..WHAT..is..going..ON
trianglepoint 3 years ago
why connot someone arrest this pedophile.
trianglepoint 3 years ago 2
Barney Frank is Elmer Fudd with a lisp.
parker2041 3 years ago 2
OMG....LOL!!!
I was saying the same thing!! Elmer Fudd
ytdsmom 3 years ago
Typical Fox spin! Hey, let's blame the minorities and the democrats. What really killed Fannie Mae and Freddie Mac was the change pushed through by the republicans that allowed banks to guarantee their own subprime loans as secure and then sell them to Fannie and Freddie. That way all the banks could push profitable subprime loans on people (60% of whom qualified for prime loans) whites, blacks, everyone! And then turn around and sell them. The rates ballooned and the people defaulted!
writemrbond 3 years ago
writemrbond:
Typical liberal -- can't handle the truth so blame it on Fox.
Is C-Span okay for you?? Here you go -- the Democrats in their OWN WORDS:
/watch?v=_MGT_cSi7Rs
Make sure to watch this one too:
/watch?v=NU6fuFrdCJY
ytdsmom 3 years ago
BArney Frank is a fat fucking faggot who robbed this country!!! And the dumb fucks from MAss. will reelect him!!!! HA! They deserve t get fucked by that lisp talking buttfucker!!!
welfareslobs 3 years ago
Time has come to arrest Barney, Franklin Raines and all black dummocrats who blocked regulation some years ago. Charge conspiracy to commit fraud. That is the only assurance we'll get that this will not happen again. Bush needs to grow a pair and arrest these lowlifes that have screwed all of us over. Take all their assets and then we'll talk about a fix. That is if Bush is a conservative and wants to fix the country. Arrest these monkeys!
gruppy1 3 years ago 2
This has been flagged as spam show
this stuttering lisping fat fuck barney frank is a corrupt criminal thast should be thrown out on his fat ass he was blaming the reps for the failure of the banks and the blocking of the buyout bill, the DEMS HAVE THE MAJORITY OF CONGRESS THEY DIDNT NEED REP VOTES HOW DARE HE BLAME ANYONE OTHER THAN DEMS CRIMINAL TRAITOR STRING HIM UP IF YOU CAN FIND A STRONG ENOUGH ROPE
sw640 3 years ago
Liberals are the cancer of our society. Why people vote them in is still beyond my comprehension. I am one of the few conservatives from socialist New England.
agugiaro 3 years ago
If the Bush administartion knew as early as 2001, and they had a republican house, president, and senate why didnt they do anything if they were all so worried????? Because its a sham lie, and by the way, even though Frank said that, neither party does anything with the private sector until emergency response is needed. The republicans controlled the House and Senate from 1995 until jan of 2007.
pooptalkerlive 3 years ago
thanks Barney appreciate it
u ought to do the right thing and step down
hopefully there will be hearings and penalties
Pelosi making excuses for you
you knew what was going on and you stood there
dasche 3 years ago
Thanks to Barney, Chris Dodd, Harry senile Reid, Maxine Senile Watters, Barbara Boxer, Diane Fuckstein, Ted Kennedy, and House Speaker Arrogant Peloser for making my savings go downtown to persons who never worked - may they all die soon.
paz1026 3 years ago
BTW, if you see Barney on the street, BANG aim for head
paz1026 3 years ago
A rich fagot who pockets money for his young butts and caused my IRA Roth to fall - I will never never working hard retire - thank you Barney and Chris Dodd - you have now made me welfare so I am off to welfare office to collect tax dollars to live - why work - I will vote Democratic - Crime seems to pay
paz1026 3 years ago
Frank is a complete crook. I hate Massachusettes for forcing that blubbering idiot on all of us.
bryson55 3 years ago 2
Kudos to foxnews for the reporting on this. I knew Crappy News Network (or Black news network) and MSketchup were left but this proves they are totally in the tank for Obama by refusing to report on what's important to the American people. This is important, this affects all of us. This does it for me, the deceit that the dummocrats have shown along with Obama who has profited from this crisis (contributions) have convinced me that they care less about me and the rest of America.
gruppy1 3 years ago
Obama $126,349 from Fannie and Freddie employees in three plus years since he was a US Senator. John McCain $169,000 from directors, officers, and lobbyists for Fannie Mae and Freddie Mac in 2008 alone. Do some more research to find out the truth. According to the facts and your thinking McCain care less about you and the rest of America. Stop being so bias that you don't want to see the whole truth. We are so divided as a country. Everyone had a part to do with this crisis.
truc111 3 years ago
Show me where you got the figure for McCain. The figures I have seen from sources like factcheck show about $44k. Are you sure you're not the one biased? And while we are divided I could never support people who try to deceive me by fudging the facts and then try to blame the other party for their mistakes. Deceit breeds more division. Did you actually watch the video? Back up your claims and don't waste my time.
gruppy1 3 years ago
"Kind-hearted" Democrats and their cronies at
ACORN made sure that
banks were strong-armed into handing out
***Un**affordable housing loans.
eksdem 3 years ago
Barney Frank's homosexual relationship with Herb Moses (Fannie Mae executive) has not even been whispered in the mainstream media...classic and usual cover-up. Check it out for yourself if you are one that is intellectually honest and not just trying to push the old "right thinking us , wrong thing them" mindset. How did he get the job, how much of our $ was he paid ?? I'm sure NBC will look into this matter...ha.
horizons777 3 years ago
who cares?
georgewtwat 3 years ago
Campaign Director Rick Davis is the tip of the Freddie-Fannie-McCain iceberg.
Senator John McCains senior adviser Charlie Black, his campaign vice chairman Wayne Berman, his Congressional liaison John Green and (the reported) head of McCain's White House transition team Arther Culvahouse either made fortunes from recent Freddie-Fannie lobbying or were players in lobbying firms that did.
This would be why so many voters look upon Senator John McCain as McSame
DrJohnSilber 3 years ago
It's funny how they are trying to blame the Democrats for this problem when the Republicans had the majority at the time. If they wanted to do something then they could have. Fox is notorious for editing things to make the right look good and the left look bad. We all know that's a fact. Those who say otherwise are unable to get their ass off the couch to change the channel because of a broken remote control.
truc111 3 years ago
Two words: BARNEY FAG
runleonrun 3 years ago
The party of no responsibility continues to employ their motto. Not only are they bailing out "victims" losing their homes, they continue to subject us to individuals like Barney Frank. Not only did Barney protect Fannie and Freddie, he pushed for additional low income loans. While there is plenty of blame to go around, Barney dodges all responsibility while placing blame on others. Perhaps he is just promoting the party motto.
talkire 3 years ago
So a government sponsored entity (GSE) pushed by President Clinton threw caution to the wind to make bad loans. It is no wonder the insiders cashed out their stock options as they knew ahead of time this was going to end badly! It is funny to hear government now wants to punish them for doing what they were told.
nesnman 3 years ago
How ironic. The most right wing government in generations will now be responsible for the socialisation of the financial markets. I think I can hear Karl Marx spinning in his grave! Hardy-fucking-har. :)
DiscoPope2 3 years ago
I honestly do want to hear the whole story on this, but if there's more to it than Fox presents, we won't see it until after the election. The media are in the tank for Obama just as they were for Carter. It will work out the same for the country, I'm afraid.
everysandwich 3 years ago 2
Frank insisted that Fannie Mae and Freddie Mac were in good shape.When the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis." When the White House warned of "systemic risk for our financial system" unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.
nesnman 3 years ago 5
Democrats are guilty of treason!
Jimmymac504 3 years ago 2
You have nailed it!
metalxmustang 3 years ago
you are correct! I love your pictures!
dadoo5432 3 years ago
This comment has received too many negative votes show
more revisionist history by Fox News
MidnightChimes 3 years ago
This is all true. I am in the business and have followed it closely for the past ten years.
But, CNN could make the same video from the other perspective. There have been several democrats who have raised the red flag on FNMA too. The politicials in control of both parties have gotten where they are by winning power, not solving problems. I am all for a house-cleaning.
dadoo5432 3 years ago 2
Are those democrats going on television to say that it's not the fault of the free market & GOP's philosophy of "deregulation"?
[crickets]
omegabit 3 years ago
Both Barney Frank and Chris Dodd got kickbacks from the Banking Industry.Kick(Vote) them out.
m9078jk3 3 years ago 4
Republicans had the majority. They did not control anything. Look how the dems can't do anything about Iraq even though they are "in control.". Being in the majority only works if you can get at least some of the minority to vote with you. Why go to work if you have no power?
sazerac1 3 years ago
The Democrat fingerprints are all over this. No wonder there is no congressional hearing over this mess.
UU238 3 years ago 6