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How we got to this place
#21
Don.... I have in fact read most of those documents online. I've even posted links to a few of them here over the past couple weeks. The basic time line and characters in this drama are real. Barney Frank, Chris Dodd, Jim Johnson, Franklin Raines et al.

I have yet to hear a logical liberal explanation (excuse) for the role just these four have had in the failure of Fannie/Freddie. These were "hands on" people. Not figments of my imagination.

I don't pretend to understand all the machinations, but the picture is becoming much clearer and the dots easier to connect.

No one listened to John McCain in May of 2006 when he predicted the failure of F/F. He specifically named Johnson as a "problem". He specifically pointed out that auditors had found malfeasance in the bookkeeping practices at Fannie Mae. Employees at Fannie admitted to doctoring documents. His call for oversight and a change in regulating practices fell on dead ears and the Bill died in committee.

What Democrat raised the clarion call? NONE! Most were too busy taking PAC money from F/F lobbyists. They surely wouldn't want to kill their golden goose would they? I'm not saying there weren't Republicans on the take as well, but where was ONE Democrat that made a move to protect the American people?

The documentation is out there. Who took the most PAC money over a 10 year period? Chris Dodd. Who took the second most money? Barack Obama (even though he'd only been in office for 2 years). The same document shows that McCain too ZERO Pac money from F/F. He did receive about $21,000 in donations from individuals at F/F. I provided a link to this info in an earlier post.

But not one of you liberals here have been able to defend Dodd, Johnson, Raines, Obama, Frank beyond generalities and party line mumbo jumbo about it all being Booosh's fault.
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#22
The problem,swampy, is that you want to blame everything on the Democrats. Where have the Republicans been in all this mess? They have pretty much controlled the Executive Branch since 1968. Who signed all these bills that help cause this mess, not just Carter and Clinton. John McCain has been a huge promoter of deregulation ever since he took free trips to the Bahamas with Charles Keating. I would listen to your ranting more if you would be more non-partisan about the issue.
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#23
Neither party has clean hands on this one.

Everybody involved paid lots of lobbyists to shovel money to both sides of the aisle to gut any real regulatory oversight.

It was all one big love-fest when they repealed Glass-Steagal.
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#24
Don Kiyoti wrote:
Swampy, (why am I even responding to this????) how much time exactly did you spend vetting and fact checking that video? How do you know it's accurate? Did YOU look it all up or do you just store all those facts in that big brain of yours? Do you know who made it? Why do you trust them?

It's accurate because it fits his mindset.
[Image: 1Tr0bSl.jpeg]
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#25
swampy wrote: I have said in other threads that I want a full independent investigation of what caused all this. Name names. Prosecute where applicable. There is enough blame to go around and any investigation is going to find both Republican and Democratic slugs under the rocks.

...but there is NO REASON for an investigation. We know exactly what happened and how it happened. Everyone was asleep at the wheel.

swampy wrote: No one listened to John McCain in May of 2006 when he predicted the failure of F/F.

Know who didn't listen to John McCain? John McCain!

just because you can find one quote in the past few years where McCain casts a weary eye toward the mortgage industry doesn't mean that he followed it up and tried to do anything about it.
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#26
Don.... I have in fact read most of those documents online.

Please, post links to these actual documents. NOT the news blog posts, NY Post stories, or YouTube videos, please. The actual documents. Thanks!
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#27
Don, I've posted direct links in other threads and I'm not going to go back and research them for you. I will however give you the link to McCain's submission into the Congressional Record of May 2006 wherein he warns Congress, again, of the Fannie Mae problem.

http://thomas.loc.gov/cgi-bin/query/D?r1...r1095NKgcA::

If you want to read the entire text of the Federal Housing Enterprise Regulatory Reform Act of 2005, here's the link to the Congressional Record...
http://www.govtrack.us/congress/billtext...l=s109-190
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#28
http://www.motherjones.com/news/feature/...eline.html
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