Democrats Fighting Regulation of Freddie & Fannie

[LacusTheDestroyer]

This video is horrifying. Anyone who still actually believes that Democrats are competent at managing anything in the U.S. needs to see this video, and realize the truth. It's like these people have no understanding of basic economics and morality.

...especially that Maxine Waters woman. How the hell does somebody like that get elected? Are people oblivious to her lies?

[hummarstra]

Today Waters just said that she wants Obama to borrow another trillion dollars to put Americans to work. What dumb shit.

[guyNbluejeans]

This video is amazing.

Not long ago I was working at a job that I had for 18-years. I was living a simple life and doing so by living within my means. Then along came the housing disaster courtesy of greedy pigs and their pals you see in this vid as well as others that aren't in it.

And so here I sit unemployed while Franklin Reigns sits somewhere in comfort as a multimillionaire thanks to having capitalized on all those fat bonuses he got for putting people into house they couldn't afford!

[hhn1000]

YOU HAVE to wonder if JAMIE GORELICK is going to be part of every disaster this country is to face in future ...as she had been in the past, from the terrible Justice Dept. decision that kept us from finding the 9/11 terrorists to making $700,000 on a bad plan for these 100% loans based upon "desktop underwriting."

I really hope she's no longer in D.C. but I'm afraid she is.

[beninmv]

So explain why a Republican controlled Congress and its committees and a Republican White House let this happen? HUD was pushing teh agencies to lend and where were the regulators? I was buying commercial mortgage securities, but pulled out when CDOs got hot and the market discipline went away. That was late 2004. The idiocy of credit derivatives went unchecked.

To blame one party for this is just childish.

[toddclemmer]

@beninmv

Let this happen? You do understand that the regulators are in this video right?

[AndrewMessenger]

We can prove beyond doubt the Democrats made the decisions causing our economy to crash. Doesn't matter how much proof there is, democrats will choose to deny it blindly. They don't want proof.

Entitlements ... whatever they are ... low-income housing, etc. ... are like heroin. Try to convince a heroin addict to quit using: it is next to impossible to do. Same with those who are used to using entitlements.

Our economy is screwed. The US is addicted to entitlements. There's no way out.

[amitbarfs]

Democrats were right.

Fuck regulations.

[1927bon]

@amitbarfs I have seen the videos of McCain and Bush demanding evestigations into F&F and Democrats Walters and Barney Frank callled them racists for demanding it. Their emands were unheeded

[amitbarfs]

@1927bon

What does race have to do with Fannie/Freddie? The only color anyone in DC cares about is green.

[phildrice]

HAVE YOU GUYS SEEN WHAT I GOT ON MEEKS & THE ENTIRE BUNCH OF DEMONS IN THE 6TH CONGRESSIONAL DISTRICT? Meeks just got busted with the former Congressman Floyd Flake misusing a Church Tax-Exempt Stamp and they cry broke. His jamica field office & his D.C office got busted you can hear the phone conversations over the speaker phone conversation being video taped. Meeks & his minions got busted with bloomberg covering up a nazi-copy-cat-crime & a hangman's noose for Niggers in the V A hospital.

[MrBishopWalters]

This is just dumb. To think this problem was caused by poor/middle class or most democrats is asinine. Commodity Futures Modernization Act of 2000,Gramm-Leach-Bliley Act, are the main problem(all legislation passed by REPUBLICANS)

Most economists state that the 1999 legislation spearheaded by Gramm-- the Gramm-Leach-Bliley Act — was significantly to blame for the 2007 subprime mortgage crisis and 2008 global economic crisis

The problem is Republicans and the idiots who vote for them.

[NCMan28025]

@MrBishopWalters You should look up the Community Reinvestment Act and see who started the problem. As well, President Clinton signed the repeal of Glass-Steagal Act. Rahm Emanuel sat on the board of Freddie Mac as the books were cooked and Obama's newest Chief of Staff, William Daley, sat on the board as well. You can listen to Bill Clinton, who admitted Democrats blocked the regulations of Freddie and Fannie. Don't let facts stand in the way.

[nudgler]

Raines was a crook....he can only get praise from a fellow crook like Waters

[Yakko77]

HOLY SHIT! On Cavuto today, Barney Frank was saying he was among the only voices of reason on F&F and thinks it whuld be abolished. The lying bastard said it with a straight face.

[MrBishopWalters]

@Yakko77 BAHAHA anyone who watches FOX news is a retard and doesn't have a flying fuck what's really going on. So your opinion mean NOTHING to anyone with half a brain.

[Yakko77]

@MrBishopWalters Such a convincing counter argument! Typical liberal comeback. insult and walk away with no facts or counterpoint.  Well done, I'm totally convinced now. Thanks.

[MrBishopWalters]

@Yakko77 Ever notice how Republicans always blame government? THEY ARE THE GOVERNMENT.

Get the money out of Washington so they won't repeal legislation put in place after the last GREAT DEPRESSION.

Now republicans are banning the words wall street, deregulation, shadow banking, and interconnected.

Facts are your friend, not faux.

[ConservativemanOmega]

@MrBishopWalters Of course we blame government, son! You don't expect us to take responsibility fer our actions do you? Responsibility is liberal nonsense. Like the bible says "fuck it all, it's all about me!" Doucheronomy 9:11

[bubba007ss]

@MrBishopWalters WOW"" Did you think of that all by your self with no help?? My way tp go

[ConservativemanOmega]

@Yakko77 That's right boy, ignore the fax he presented and say he didn't have any! Playing stupid, that's the conservative way!

[xpandergt]

Freddie and Fannie weren't apart of the financial reform law, surprise surprise. To date, no investigations have been launched into fannie and freddys role in the sub prime housing collapse.

[bubba007ss]

@xpandergt And never will be... I think all of congress should be investigated so we can clean house

[xpandergt]

@bubba007ss I totally agree. Congress placed our country in the situation that is in. We definitely didn't do it.

[goodatbasebal]

Both Republicans and Democrats suck. But it takes time to figure that out

[harry4health]

goodatbasebal - GOPers called for fixing fannie & GFreddie, even egulations. BUISG wanted regs, but DEMS said no & stopped this.

Burning Down The House: What Caused Our Economic Crisis? Bombshell

youtube*com/watch?v=1RZVw3no2A­4

[goodatbasebal]

@harry4health Yes, i understand that in "this" situation they tried to do what was right but in so many others "republicans" choose the wrong thing. Defending either party without incriminating ones own beliefs is almost impossible. Most if not all politicians with exception of very few only care about getting re-elected.

[harry4health]

goodatbasebal - One can defend some things in the GOP. Sure, both parties screwed up. However, I didn't see the media really give equal time to the Dem's guilt here. I was speaking of one topic & my views are accurate & supported by this video & other sources.The Dems screw up much more. The GOP messes up a lot of the time when they act like semi-Dems.

I am unaffiliated & from Clinton to recently, voted almost all Dems. I switched & try not to vote for any.

We need to get the Dems out of power.

[igotta9]

It doesn't matter to the criminal mind set of some dems that the economy is going basket case...big time. This is Chicago street crime gone King Kong on capital hill.

[cwareham1]

No wonder the current administration doesn't want the health care negotiations on CSPAN.

[BlueBustard]

The Republicans have proven to be feckless weenies, but the colossal ignorance and abject stupidity of the Democrats featured here is stunning.

I would love to see an old fashion streaker whiz by and snatch that woman's hair wig.

[jgrover78]

While these are clips, they are not that far out of context. The reality is that Barney Frank, Charles Meeks, and Maxine "I Only Read What the Lobbyists Write on My Script" Waters shouldn't have questioned the competence of the regulator when he is a well-respected professional in his field. It is further disingenuous when they then blame all of these GSE's failures on the Republicans.

[Bruinleader]

Ya, this is out of context..

Really, in what context would any of this make any sense?

Fact it: You're busted red handed and now have to play the hide the truth game.

[annettesurfer]

The video was compiled out of context to further the agenda of the author. The Repukes weren't trying to fix any perceived problems....they were on a partisan witch-hunt at the time.

Right-wing policy is to reduce the size of government and eliminate governmental interference. Additional regulation doesn't exist in their vocabulary nor would it be allowed in any talking point memos.

The meltdown is a product of the worst President we've ever had....two term Bush...the GOP puppet.

[dominick916]

Go to the C-span website and you can see the hearings in their entirety. I have watched hours of hearing regarding Freddie Mac and Fannie Mae. This video is not out of context. See for yourself.

[ButterflyDragon9]

@dominick916

Sadly, few people want to actually educate themselves with facts nowadays. They would rather be spoon-fed an opinion in 15 second sound bites.

[HoGraz]

@dominick916 Well they have been flagged by media-watchdog groups for being more conservative.

[meggypooh101]

@annettesurfer You clearly have no idea how even the most basic of economic principles work and therefore are in no position to give your amazingly fallacious opinions... But then again that could be said of all demis - seeing as if they did.. they would be republican.

[18976607]

annettesurfer,

go to cspan to watch the whole thing before you make excuses. this "right-wing policy" was to put more regulation on government supplying entities. did you not watch the very video we are discussing?

also, you might want to note that this legislation for affordable housing for everyone occurred long before bush was in office.

get your facts straight before you make a fool of yourself.

[crcrew62]

AMEN...... This is certainly the reason we are we are today!

[anarenee1301]

damn dems are liars liars liars manipulating the public with their lies

[finefilth]

vote republicrat

[dav7boz]

Meeks. Punk!

[cobraman96]

he thinks he is pissed off,thats my tax dollars you moron!

[gatechpilot]

surpised comrade Obama has not made them delete this video yet.

[astrape1]

Sad part is.......... ALL these corrupt an incompetent democrats like Maxine Waters and Gregory Meeks that hate accountability are still in office. And people expect CHANGE? Please, too much kool-aid drinking going around.

[HemiHead66]

Every time you see a video that's cut up with some asshole jumping in telling ya what's going on you know it's bullshit. Everybody knows Fannie and Freddy cooked their books for years but it has nothing to do with the mortgage crises. And it's not because people bought more home than they can afford. This crises was brought on by "adjustable rate" mortgages. People weren't told that their payments would double in 2 or 3 years. When interest rates went up so did their payments.

[csaclint]

So what did they imagine "adjustable" meant? Did they think the free money fairy was just gonna waltz in and lower their ARM? They knew their rates would go up, they knew their payments would go up. The intentionaly bought more house than they could afford, ASSUMING they would be making more money in 3-5 years.. THEY GAMBLED, WE ALL LOST. They thought they were too good too live within there means. Same problem with the credit cards. But of course the dems want to blame the card companies.

[HemiHead66]

You seem to think everyone in this country are Bankers. What good is it to tell someone they have an ARM if everything about it isn't explained? Or was the Bank fairy supposed do it? Do you think they told lo-income people that interest rates are super low and their payments will go up by a shit-load? Or even explained what each point meant in dollar terms? Yeah, the guy takes home a thousand a month and knowing his payments will soon be 1800 he says I'll take it anyway. Bull-fuckin-shit!!

[csaclint]

How about they act like big boys and girls and take a few days to study up on that 150k+ purchase they're about to make? I'm by no means a banker, nor do i work in anyway with the business, and i am one of those "low-income" people. So when i was in the market for my house, i researched, I insisted on a fixed rate even though it meant less house. Why? because i didn't want to take anychances on what the future may hold. And you know what, i still have my house, and my payments are still on time.

[HemiHead66]

That's pretty good, people don't even know what to research but you want them to do it anyway. And if they did, how would they know when they've done enough research? Ya know, just because you and I know some of the things to look for doesn't mean everybody else does. Millions of people can't even speak English let alone understand financial matters. A better idea would be for those shit-bags to explain the situation instead of taking advantage of people. Ahhh, I'm finished arguing with ya.

[Fromthecenter1]

looks like black dumbocrat problem to me. the black panthers were in on it. along with acorn.

[HemiHead66]

Oh yeah. then why didn't Dumbo Bush and the PNAC Mafia fix it then? They've ruled Washington for the last ten+ years. Wouldn't have anything to do with them being knee-deep in this shit too, would it? Fannie and Freddy have been filling their pockets for years.

[lovinlindyhop]

"Buyer Beware" that sage advice has been around for centuries. It is the responsibility of the buyer, not the seller, to make themselves aware of what is in a contract *before* they sign their name. This is common sense, and something any mature adult should know. Common sense also says it would not be a wise decision to make a major purchase in a country where you couldn't speak or read the language. Unfortunately, common sense has died a horrible and painful death the last few years.

[HemiHead66]

Ah, bull-crap! What do you think this is, a used car with an as is sticker on it? When you buy a home all the financials should be explained. Those people that bought homes when interest rates were at 1% got fucked big time. All those assholes had to do was tell people that their payments would be going up a shit-load and they wouldn't have put themselves in this position. This sub-prime shit was only a small piece of this crises anyway. Those big-time scammers made billions.

[lovinlindyhop]

HemiHead66, with all due respect to you and your bad language, a contract, is a contract. I have signed my name on the dotted line several times in my life. Some of them explained things, but I didn't turst them. I chose the responsibility to make sure what they were telling me was the truth, and I haven't been taken advantage of. I look at this this way, nobody can scam me unless I allow it, but hey, that's just me. I hope your upset isn't because you've been hurt in some way my friend.

[HemiHead66]

Oh, now I get it. Jeeeze, what was I thinking? Why don't you go tell all those people that got swindled by Madoff that they're shit-outta-luck because it was their responsibility to understand the loop-holes of high finance. You know what I'm going to do the next time someone swindles me? I'm going to show them how I do business and blow their fucking head off. If the system works on a "got' cha" basis it's only right, right? Oh, sorry for the language. Hope I didn't ruffle you feathers to much.

[lovinlindyhop]

HemiHead66, I do have sympathy for those who got taken in Madoff's ponzi scheme, but the reality is, he was promising *outrageous* returns. That would have been a big red flag to me. I've heard some of those people say they had suspicions, but allowed their financial desires to over ride their doubts. I know it's really sad, but these days a person has to be untrusting and verify everything for our own safety. Protect you and yours, and be careful out there!

[HemiHead66]

People invested with Madoff because he was supposed to be smart. You don't see people thinking Warren Buffett's a criminal because he delivers *outrageous* returns, do ya? And if I'm not mistaken, people did get a little weary of Madoff. But what did the SEC do, gave people the impression there was nothing wrong, what was it three times? If the SEC thinks there's nothing wrong what are people supposed to do, say they're full of shit and start pulling their money out? Come on, give me a break!

[lovinlindyhop]

HemiHead66, You may know more than I do, but I wasn't aware that Buffett promises huge returns on shorter term investments. I thought he was a long term, slower growth guy. We're in agreement that the SEC didn't take action on the numerous warnings they received. That's why I have such sympathy for the investors. I realized long ago I'm not a gambler, so that whole Wall St. scene isn't for me. Have a good evening my friend.

[HemiHead66]

I didn't say Buffett promised anything, I said he delivers. And maybe you can show me where it says Madoff promised outrageous returns. I've never heard anybody PROMISE huge returns from the stock market. Anyone that can deliver on that must be doing something illegal. If you can show me where Madoff says you're guaranteed huge returns, I'll say you're right that people should've known better.

[lovinlindyhop]

I'm on it, I'll try to find a link and pass it along. I saw it on 2 different hour long specials right after this stoy broke.

[HemiHead66]

Go for it! And we're not talking about dividends, or money generated by cash. Lord knows what you'll try and twist this into.

[HemiHead66]

Find anything yet, sweetie? You're not duckin out on me now, are ya?

[lovinlindyhop]

huh oh Hemihead66, I did post to you yesterday, but for some reason it didn't take. I'll have to find the info again. I won't forget about ya, I'll post shortly...

[lovinlindyhop]

HemiHead66, I looked but couldnt find a clip of the special I saw anywhere, but I did find this statement, delivering consistent 10 percent returns for decades, as Madoff purported to do, is unrealistic too, if not impossible. The link wont post, but this statement was on the Washington State Department of Financial Institutions at, dfi (dot) wa (dot) gov ( slash) consumers (slash) education (slash) investments (slash) ponzi (dash) schemes

See, no twisting ;)

[evadians]

I think whoever put that together, earns a round of *APPLAUSE* and a cold beer in my book.  Excellent job!

[cuberix]

For cretins who have less than two brain cells to realize that the hearing was constituted over "accounting" regulatory measures and not "marketing" regulation.

[cuberix]

As a matter of fact, due to the investigation in Freddie & Fannie, both institutions were side lined by the "private" sector (aka Wall Street backed housing investment market) which originated 84% of sub-prime mortgages based on SBM's which were built upon derivatives (i.e. CDO's and CDO Squard's). The comments here clearly reflects a larger picture of ignorant pitch fork crowd who does not possess an adequate perception and knowledge on the subject matter to expound, and it shows.

[electrodude9]

This video ROCKS!  Unfortunately, it will only act as being a record of why our country went down the tubes & how it was caused by, among other factors, blind, greedy, democrat bastards!

[electrodude9]

...and f'ing Raines.

[heyazzhole]

Thank you idiot OBAMA suppoters for the mess we going to have in the next few years

[2012Ronpaul2012]

two words Ron Paul.

[sfmission1234]

"Late 2004!!!!!" If only there had been a REPUBLICAN majority to force those regulations through and save our economy from imminent disaster!!!!!!

Oh wait, there was....

[rylblu59]

Nice try, but not enough of a majority. The democrats/socialist are without question responsible for the economy. You can't force banks to give loans to those unable or unwilling to pay them off (basically to buy votes) and expect a robust economy. Of course, the democrats know our media has their back. End result a socialist administration, Founding Fathers rolling over in their graves. Don't trade your freedom for security people it's not an even trade.

[enap66]

A majority is only as good as the amount of power they have and unfortunately, every time they approached this issue, all 17 times, their actions were filabustered by the dems... dems SUCK!

[marginallymental]

Thank you, Cool8man. Thank you, thank you, thank you for taking the TIME to weed through CSPAN footage to come up with this. I'm so mad I could spit, and what makes me maddest is the LYING of the so-called leadership about their involvement the coverup of FRAUD. You're my hero, friend. Your efforts are much appreciated.

[joejohnson043]

cool8man, your links are a frikin goldmine!!! Thank you for posting these videos! To bad our mainstream media doesn't do this thorough a job on giving us the facts.