Obama to the Doctor

[mark francis]

Yeah sure they did.
Those people are big republican donors and the regulation was like getting flogged with a warm lettuce.
Let's not talk about corrupt democrats when those things happens.

Here are the reported mistakes made involving Fannie Mae and Freddie Mac:

Democrats Were Wrong on Fannie Mae and Freddie Mac (usnews.com) 10-6-08

Democrats Were Wrong on Fannie Mae and Freddie Mac

The White House called for tighter regulation 17 times.
By Michael Barone
Oct. 6, 2008, at 5:10 p.m.

Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Congress has cooperated only once. In spring 2007, as House Financial Services Committee Chairman Barney Frank likes to point out, the House did pass a bill in response. The Senate did not act until 2008; Senate Banking Committee Chairman Christopher Dodd spent most of 2007 camped out in Iowa running for president. The legislation passed by Congress in 2008 enabled Treasury Secretary Henry Paulson to put Fannie and Freddie into federal conservatorship this summer when they failed. But it didn't prevent them from spewing a huge amount of toxic waste, in the form of subprime and Alt-A mortgages, into our financial institutions from 2004 to 2007. As Stephen Spruiell points out in The Corner on National Review Online, Fannie and Freddie spewed out $1 trillion worth (face value) of subprime mortgages between 2005 and 2007. That's a whole lot of toxic waste

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation. ...

If nothing else, shouldn't we salute Democratic Rep. Artur Davis for saying, "Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."

 

[Phoenix68]

The 2008 collapse was caused by......

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See: 4:40 thru 12:00
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[Phoenix68]

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Money, Power And Wall Street
April 24, 2012
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[mark francis]

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See: 4:40 thru 12:00
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View attachment 7707
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.​

It becomes clear that many who caused the disaster are still strangely unaware of what caused the disaster.

 

[Boris Norris]

Here are the reported mistakes made involving Fannie Mae and Freddie Mac:

Democrats Were Wrong on Fannie Mae and Freddie Mac (usnews.com) 10-6-08

Democrats Were Wrong on Fannie Mae and Freddie Mac

The White House called for tighter regulation 17 times.
By Michael Barone
Oct. 6, 2008, at 5:10 p.m.

Seventeen. That's how many times, according to this White House statement (hat tip Gateway Pundit), that the Bush administration has called for tighter regulation of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Congress has cooperated only once. In spring 2007, as House Financial Services Committee Chairman Barney Frank likes to point out, the House did pass a bill in response. The Senate did not act until 2008; Senate Banking Committee Chairman Christopher Dodd spent most of 2007 camped out in Iowa running for president. The legislation passed by Congress in 2008 enabled Treasury Secretary Henry Paulson to put Fannie and Freddie into federal conservatorship this summer when they failed. But it didn't prevent them from spewing a huge amount of toxic waste, in the form of subprime and Alt-A mortgages, into our financial institutions from 2004 to 2007. As Stephen Spruiell points out in The Corner on National Review Online, Fannie and Freddie spewed out $1 trillion worth (face value) of subprime mortgages between 2005 and 2007. That's a whole lot of toxic waste

Much if not all of that could have been prevented by a bill cosponsored by John McCain and supported by all the Republicans and opposed by all the Democrats in the Senate Banking Committee in 2005. That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. The GSEs' mission allegedly justifying their quasi-governmental status was to package or securitize such mortgages, but the lion's share of their profits—which determined top executives' bonuses—came from speculation. ...

If nothing else, shouldn't we salute Democratic Rep. Artur Davis for saying, "Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."

Idiot.
They are the govt and can do what they please with legislation. They let it happen.

 

[mark francis]

Idiot.
They are the govt and can do what they please with legislation. They let it happen.

Some in the government saw the coming 2008 collapse and tried to make changes designed to avoid it, but Democrats prevailed, and the US sailed straight ahead into disaster, just like banking regulators had been predicting all along. The unanswered question is whether or not many of those democrats knew the collapse was coming and wanted it to come in fulfillment of leftist Marxist predictions outlined by the communist members of the Democrat party.

Collapsing the System on Purpose: The Cloward Piven Strategy | The Global Dispatch | The Global Dispatch

Published On: Sun, Aug 14th, 2011
Collapsing the System on Purpose: The Cloward Piven Strategy

First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and his wife Frances Fox Piven (both longtime members of the Democratic Socialists of America, where Piven today is an honorary chair), the “Cloward-Piven Strategy” seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.

 

[pjmret]

Some in the government saw the coming 2008 collapse and tried to make changes designed to avoid it, but Democrats prevailed, and the US sailed straight ahead into disaster, just like banking regulators had been predicting all along. The unanswered question is whether or not many of those democrats knew the collapse was coming and wanted it to come in fulfillment of leftist Marxist predictions outlined by the communist members of the Democrat party.

Collapsing the System on Purpose: The Cloward Piven Strategy | The Global Dispatch | The Global Dispatch

Published On: Sun, Aug 14th, 2011
Collapsing the System on Purpose: The Cloward Piven Strategy

First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and his wife Frances Fox Piven (both longtime members of the Democratic Socialists of America, where Piven today is an honorary chair), the “Cloward-Piven Strategy” seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.

"unanswered question" lol.
keep posting questions.