September 30, 2008
— Ace
Ed Morrissey errs when he says "don't get too focused on ACORN, the problem is Fannie and Freddie." Yes, it was Fannie and Freddie guaranteeing all these horrible mortgages that allowed banks, or so they thought, to take these risks.
But ACORN, the Congressional Black Caucus, Barney Frank, Chris Dodd, and Barack Hussein Obama all worked together to build the bomb. Separating ACORN from Fannie is like saying Al Qaeda could never support Shiite extremists.
This was an inside-outside operation from the getgo -- ACORN providing external "grassroots" demands for these mortgages, the government empowering them to do so, ACORN pressuring banks to make the loans, government sponsored entities Fannie and Freddie removing the risk (or so it was thought) from the loans.
They all worked together on this. They're all on each other's speed dials. ACORN forges up fraudulent voter registrations to help Democrats steal elections; Democrats propose giving 20% of all revenues (not profits, revenues) from the bailout to ACORN, etc.
As this Fannie executive says -- We're all part of "the family."
The Trillion Dollar Man: Obama advisor Jim Johnson pledged one trillion to back these shit mortgages as Fannie CEO.
And made a fortune doing so. Hey, on paper, he was making money. All those new mortgages, and he dipped his beak into every one.
Who cares if the mortgages default three years after he leaves. Not his problem.
Posted by: Ace at
12:22 PM
| Comments (57)
Post contains 251 words, total size 2 kb.
Posted by: Z Ryan at September 30, 2008 12:24 PM (PDeVA)
Posted by: BTM at September 30, 2008 12:32 PM (v0dke)
Posted by: free at September 30, 2008 12:32 PM (cFwGO)
(walking away whistling)
Posted by: MSM at September 30, 2008 12:35 PM (LcpIn)
Posted by: stace at September 30, 2008 12:41 PM (JO0c/)
Posted by: Judd at September 30, 2008 12:44 PM (BXHeE)
We have assholes in Congress. None of them are competent to fix the shit THEY break. As Howie Carr said, "That's what happens when you elect people to run a government who never had a real job."
Posted by: Bart at September 30, 2008 12:46 PM (ypftB)
I'm changing my party affiliation, and picking up a ski mask.
Posted by: dkshideler at September 30, 2008 12:47 PM (83iEc)
Posted by: blaster at September 30, 2008 12:48 PM (BiphJ)
Posted by: Entropy at September 30, 2008 12:49 PM (HgAV0)
Posted by: Andy at September 30, 2008 12:50 PM (C3mTI)
Posted by: lorien1973 at September 30, 2008 12:54 PM (IhQuA)
But it's all Bush's fault and McSame and SarahOIsecretlywanttobanghersohardthatToddsteethfalloutPalin would only carry on the same evil, misguided policies.
Wait. If I follow my own logic, that means that it's ALSO Bush's fault that record numbers of people now own their own homes in America and 97.5 percent of them are current on their mortgages, ALL BECAUSE OF BUSH!!! Fuck. My head just exploded!
Posted by: Diderot's Dog's Balls Slappin' His Momma's Chin at September 30, 2008 12:56 PM (UioS4)
Change of subject, can someone teach the NY Times math?
"The Dow Jones industrials gained 485.21 points, halving the 777-point decline on Monday."
Halving the decline? In what universe, Obamaland?
Kemp
Posted by: Kempermanx at September 30, 2008 12:56 PM (2+9Yx)
Posted by: Nice Deb at September 30, 2008 12:58 PM (RPPPS)
The Democrats have their ear to the ground and speak directly to the people. The Republicans think they can run their candidacies from Mount Olympus and repeat the same old tired bullet points: cut spending, lower taxes, fight terrorism, pro-life, etc.
The people want more. They want to know that the candidates understand their day-to-day problems and share their concerns. People, like nature, abhors a vaccum. The Republicans offer no leadership. At least the Democrats are offering their shitty, wrong-headed leadership. Hey, it's something, and the people want something.
Posted by: Bart at September 30, 2008 01:02 PM (ypftB)
Posted by: notropis at September 30, 2008 01:02 PM (qgWWa)
Posted by: Obama Truth Squad at September 30, 2008 01:05 PM (aCNs8)
Posted by: topsecretk9 at September 30, 2008 01:06 PM (cB8Zt)
Why isn't McCain talking about this? Why isn't Bush using the bully pulpit?
I swear, Bush should be hammering this in to support McCain, why isn't he?
Posted by: uniball at September 30, 2008 01:10 PM (27iEn)
Posted by: topsecretk9 at September 30, 2008 01:12 PM (cB8Zt)
Posted by: notropis at September 30, 2008 01:14 PM (qgWWa)
Posted by: Wankin' Walter at September 30, 2008 01:15 PM (UmELH)
Posted by: Booben at September 30, 2008 01:18 PM (EbsDB)
Posted by: politicalmuse at September 30, 2008 01:19 PM (kLKnf)
Posted by: blaster at September 30, 2008 01:23 PM (BiphJ)
I would be excited about this if I thought for one moment it would gain traction and take down the O!. However, it is extremely unlikely to gain traction, as the MSM will not report on it. On the outside chance it does gain traction outside the MSM, it just means another flunky gets thrown under the bus and the MSM will immediately start the drumbeat that it was all the flunky's doing. The O! will come out with, "This is not the corrupt financier I thought I knew," and the issue will be dead. Rinse, repeat.
Okay, I admit, I'm not being all that cautious at the moment.
Posted by: Cautiously Pessimistic at September 30, 2008 01:24 PM (ltwze)
Posted by: Booben at September 30, 2008 01:25 PM (EbsDB)
It could be that McLame knows there is a new group out there who is going to sponsor a major advertisement that hits them hard on this issue. The “Bank Loan Examiners For Truth” ads will hit in October.
They will include video of Franklin Raines getting out of jail on weekends to issue more loans. Oh, thatÂ’s right, he didnÂ’t go to jail because he has the magic D after his name.
Posted by: Vic at September 30, 2008 01:31 PM (b1ysY)
First of all, this is all "inside baseball" stuff that nobody cares about except political junkies like us.Second, even though he's run some pretty good attack ads against Obama, in some ways McCain is still playing like there's a Miss Congeniality prize to win. He'll rail against "Wall St. greed", but when it comes time to nail *by name* the congressmen who landed us in this mess, he's all "oh, I don't want to play the blame game."
The DC old boys' network is alive and well.
Posted by: OregonMuse at September 30, 2008 01:39 PM (FO+YO)
I agree that McCain could be holding back because of the need to get the deal passed. Also, if he opened up with this right now, the press coverage would distract from the thursday VP debate. Could be other things too of course.
Still, I am counting on him to beat Obama so I think happy spin.
I am a moron though.
Posted by: ArandomPerson at September 30, 2008 01:46 PM (2PwTK)
The soft bigotry of low expectation?
Posted by: Baron Von Ottomatic at September 30, 2008 01:46 PM (4ZOxD)
Posted by: Vic at September 30, 2008 01:51 PM (b1ysY)
Posted by: Al at September 30, 2008 02:21 PM (Lk931)
Posted by: Rightly Guided Caliph at September 30, 2008 02:32 PM (s/1vd)
Posted by: spongeworthy at September 30, 2008 02:38 PM (rplL3)
Posted by: Christopher Taylor at September 30, 2008 02:42 PM (0+Ggj)
Hmmmmm. I wonder why?
Posted by: rockhead at September 30, 2008 02:51 PM (DvaIL)
Posted by: ginsocal at September 30, 2008 02:58 PM (6hw4x)
It's not going to get out. Nobody cares, and the MSM will refuse to investigate it. Besides, they've got all their reporters dumpster-diving in Alaska and Arizona, so resources are kind of tight right now.
Obama can be filmed walking out of Tony Rezko's house in broad daylight carrying giant sacks of cash with a big dollar sign painted on each one and the MSM would refuse to report it.
See, maybe I should take up heavy drinking as a hobby.
Posted by: OregonMuse at September 30, 2008 03:09 PM (/GQkp)
They're fundamentalist Sunni, actually.
Posted by: Baron Von Ottomatic at September 30, 2008 03:13 PM (4ZOxD)
Posted by: Christopher Taylor at September 30, 2008 03:47 PM (0+Ggj)
Didn't the Obamatrons swamp some Chicago talk radio show a few weeks ago when he had Kurtz on?
Yes, rockhead. Read about it here and at the links at Kathy Shaidle's column:
http://tinyurl.com/3mnurw
To cite just one example: take the use of "flash mobs" to intimidate a radio talk show host and his guests: the author of a book critical of Obama's far left policies, and his ties to communists and other dubious individuals; and a journalist investigating Obama's ties to the unrepentant 1970s terrorist Bill Ayers.
To my surprise, the finest critique of this shameful episode came, not from a partisan conservative blog, but from Aaron Barnhart, the media critic behind the industry website TVBarn.com.
Posted by: andycanuck at September 30, 2008 04:11 PM (Mhm4L)
Posted by: mwl at September 30, 2008 04:49 PM (k2d9r)
Clinton, Barney Frank, the Black Caucus, Dodd, Schumer and ACORN pushing affirmative action NINJA loans (No Job, No Income) who have ever thought it?
Want to bet the GOP will not push for criminal investigations of these people for fraud and mismanagement?
Posted by: Thomas Jackson at September 30, 2008 05:05 PM (5ySCu)
"Want to bet the GOP will not push for criminal investigations of these people for fraud and mismanagement?"
From Amspec -
Emanuel, who served as a board member for Freddie Mac, one of the agencies that precipitated the economic crisis the nation now finds itself in, had no misgivings about taking a leadership role in tanking the bill. “He was cheerleading us along, mothering the votes,” says the aide. “We wanted enough to put the pressure on the Republicans and Congressman Emanuel was charged with making it close enough. He did a great job.”
Pelosi and her aides have made it clear they were not going to “whip” or twist the arms of members who did not want to vote, but they also made no effort to rally any support for a bill they attempted to hijack over the weekend.
Further, according to House Oversight Committee staff, Emanuel has received assurances from Pelosi that she will not allow what he termed a “witch hunt” to take place during the next Congressional session over the role Fannie Mae and Freddie Mac played in the economic crisis.
Emanuel apparently is concerned the roles former Clinton Administration members may have played in the mortgage industry collapse could be politically — or worse, if the Department of Justice had its way, legally — treacherous for many.
Posted by: flenser at September 30, 2008 05:29 PM (3X1Mn)
If you are uncovered as part of a cabal that has cost investors hundreds of billions of dollars, and you don't already have a Palace Guard and a fortress to live in, you're gonna need to go into Witness Protection, "disappear" yourself, or take extraordinary steps to protect yourself in your public and private life.
I've said that Barney Frank ought to call Salman Rushdie on advice on how to go completely "black" while the world is relentlessly hunting you down.
Given that the list of Dems who made Freddie/Fannie fortunes and/or aided and abetted its rampant greed and criminality is growing day by day,
Barney should make a conference call to Rushdie, adding more Dems on his end:
Rahm Emanuel (former member of Fannie, we just learned)
Jamie Gorelick (the über-bitch of the Clinton years)
Chris Dodd (taker of big preferential loans as a "Friend of Angelo")
Raines (no need to explain)
Mudd (ditto)
Johnson (ditto)
Just consider the situation: you are a Saudi prince, and you have watched a couple of Assclowns cost you and your fellow ruling elites $10 billion.
Do you get mad?
No. You just turn quietly to your Wahhabi brethren and ask that a private "fatwa" be put out....
It would make a great movie, except that the only way to make it a commercial success would be to let the Saudis unambiguously succeed.
Posted by: effinayright at September 30, 2008 05:31 PM (fH1BE)
Posted by: Spurwing Plover at September 30, 2008 05:42 PM (8t/JR)
Posted by: Daryl Herbert at September 30, 2008 05:56 PM (YvLui)
48ACORN is a radical bunch of left-wing socalists trouble makers they should entierly lose their tax exempt status
Leaving aside the grammatical/spelling/syntactical chaos: A quadruply-resonating redundancy! You don't get to see those too often!!
Still: where are our conservative-funded "public interest" groups to sue for ACORN to end that tax-exempt status?
We've got FIRE attacking anti-free speech on colleges, but IOW: Where's is OUR ACLU?
Why do we sit here with our thumbs up our asses letting these "bastids" roll over us?
Posted by: effinayright at September 30, 2008 05:57 PM (fH1BE)
McCain could shout this from the roof and who would hear it? The media sure isn't going to cover it. People zone out when political ads come on TV.
I wish the Republicans had the stone to go to Pelosi and Reid in a press conference and say, "If you will call a nationally-televised, primetime news conference and publicly announce the truth about who got us into this mess and how we got here, we will support your bailout bill." That might actually accomplish something.
Posted by: Steve L. at October 01, 2008 02:15 AM (o0YD+)
Posted by: SGT Dan at October 01, 2008 01:20 PM (oN/VZ)
It's time for swiftboating! IThose whose hands were in the till, pay the piper! Congress needs accountability. Barney Frank, Chris Dodd, Bill Clinton, Franklin Raines, Jim Johnson and B. Hussein all need to be brought up on charges as well as anyone else involved.
It would also be good for the country if we could get rid of the nitwit Pelosi and Harry Reid. Both are anti-american right along with the friends and associates of the Obama's - terrorists, thugs, and hateful preachers -
Who are these people who want to vote for B. Hussein? Are they anti-American as well or don't know that his big "change" will mean their loss of freedom. Look up socialism in the dictionary!
Posted by: joan at October 01, 2008 04:55 PM (D7IwT)
Posted by: onehj at December 07, 2008 10:17 PM (nWyuK)
Posted by: esra erol at November 04, 2010 04:30 AM (2x3XE)
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