The Faces of the Showdown in Chicago

Talking with some of the faces of the Showdown in Chicago outside the big banks.

Category:

News & Politics

Tags:

• abashowdown

[JeffreyStrange]

Angry mob of communist who hate freedom trying to tranform this country into a slave state controled by central planners. Traitors all of them!

[rightasalways]

Google "Cloward Piven Strategy" and then decide who is to blame. Dont be fools.

[rightasalways]

2005 Bill to Address the Regulation of Secondary Mortgage Market Enterprises (S.190)

John McCain said If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie

[rightasalways]

Contrary to what the main-stream media (MSM) is unwilling to report, the record shows Republicans tried to avoid the crisis

○ BUSH ADMINISTRATION(2002-2008)

-->2002-2007: Washington Post Tracks Efforts From Bush Administration to Avoid Financial Crisis

-->2008: Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone...Dems Ignored Warnings

[rightasalways]

Check the Congressional Records that show how Democrats opposed regulating Fannie Mae & Freddie Mac (two of the seeds of today's financial meltdown):

--->Hearing of the House Committee on Financial Services (H.R. 2575) (2003)

--->Hearing on Accounting Failure at Fannie Mae (2004) (PDF)

[rightasalways]

Democrats opposed bills giving power to regulators to control Freddie & Fannie (Bloomberg)

○ MAXINE WATERS (D-CA): "We do not have a crisis at Freddie Mac"

○ GREGORY MEEKS (D-NY): "I am PISSED OFF at OFHEO [the regulators]"

○ BARNEY FRANK (D-MA): "I think it is clear that Fannie Mae and Freddie Mac are sufficiently secure so they are in no great danger I don't think we face a crisis; I don't think that we have an impending disaster."

[rightasalways]

Now, at a cost of hundreds of billions of dollars, middle-class taxpayers are going to be forced to bail out the Democrats two most important constituent groups: rich Wall Street bankers and welfare recipients. Political correctness had already ruined education, sports, science and entertainment. But it took a Democratic president with a Democratic congress for political correctness to wreck the financial industry.

[rightasalways]

REP. BARNEY FRANK denounced Mankiw, saying he had no concern about housing. How dare you oppose suicidal loans to people who cant repay them! The New York Times reported that Fannie Mae and Freddie Mac were under heavy assault by the Republicans, but these entities still had important political allies in the Democrats.

[rightasalways]

Meanwhile, economists were screaming from the rooftops that the Democrats were forcing mortgage lenders to issue loans that would fail the moment the housing market slowed and deadbeat borrowers couldnt get out of their loans

In BUSH's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the governments implicit subsidy of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.

[rightasalways]

In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times...hailed the Clinton administrations affirmative action lending policies as one of the hidden success stories of the Clinton administration, saying that black and Latino homeownership has surged to the highest level ever recorded.