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The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

THE VIDEOS THAT SAY IT ALL: Democrats on Banking Committee Lying About Status of Fannie Mae and Freddie Mac – Saying They are Fine and Don’t Need Reform & Critique of Fannie Mae is a Racial Attack on Franklin Raines…

Posted by iusbvision on September 28, 2008

UPDATE III: If you liked my “In Plain English – How this mess happened” article linked below – someone made a video version that says the same thing. Enjoy and learn.

Now Back to our original story.

Democrats on the banking committee’s have been brazenly lying about all of this for years so they cannot be trusted. Why do I say that? Because the regulatory agency that reports to Congress has been warning them or YEARS that this was coming and they blocked all attempts to reform it as we have demonstrated with the evidence and the government documents HERE, HERE, HERE and HERE.

UPDATE: The New York Times predicted the possible collapse of Fannie Mae and Freddie Mac in 1999! Read HERE.

UPDATE II: House Votes NO on bailout!
People are blaming partisan back and forth for the reason, but the truth is that while the improvements the House Republicans insisted on did improve the bill, the oversight on the mortgage industry was still not up to par; too many political appointees, not enough real bank regulators, which is what caused this whole mess in the first place.

Another problem with this bill is that the banks would get these funds, but have no obligation to continue extending credit to medium risk credit worthy people, smaller banks, farms and companies. If the object is to get some solvency into these banks in trouble because of the mortgage crisis, shouldn’t we demand that they still behave as responsible banks instead of just sitting on a huge wad of taxpayer cash to only act as a soft and fluffy cash barrier to their own risk? The object of the bill is to get banks in the position to be responsible lenders again so the economy doesn’t shut down; this bill doesn’t do that.

UPDATE IV: —–>MUST SEE Video HERE go view it. <——
We have that video on youtube now:

Our entire coverage of ever facet of the mortgage crisis can be found HERE, HERE, HERE, HERE, HEREHERE, HEREHERE and HERE – Editor

5 Responses to “THE VIDEOS THAT SAY IT ALL: Democrats on Banking Committee Lying About Status of Fannie Mae and Freddie Mac – Saying They are Fine and Don’t Need Reform & Critique of Fannie Mae is a Racial Attack on Franklin Raines…”

  1. Manny said

    Yeah, but shouldn’t banks be the final word on who gets credit or not? The problem is any law that dictates to the banks who they should lend money to is really not in the best interest of the banks. And who determines what a medium credit risk is, anyway? In my book, being responsible is taking care of yourself first, not having somebody else tell you how you should conduct business.
    It’s up to individuals and companies to make themselves worthy of credit, not the obligation of lenders to provide money to anyone who fits somebody else’s criteria of what a “medium credit risk” is. This is how it should be…banks should have the power to accept or reject any and all applications that do not meet their own financial criteria since their obligation is to take care of depositor’s money. And goverment has to take a “hands off” policy and tell banks that since they take the risk, they take the fall for their own mistakes and should NEVER AGAIN depend on bailouts.
    That provision in the bill is right on target.

    [Yup – but the government used the power of law to force the banks to make bad loans. The American people need to wake up and the elite media isn’t informing people what is in the public records. The elite media and the corrupt are a threat to our country. – Editor]

  2. Matt said

    Wow, this reconfirms my thoughts that the Democtrats are all about unethical behavior. That’s what the media likes too, because it makes such a good story at least when your liberal. Are these people still in office, make sure you send it to them.

  3. Maggie said

    Is Obama dumb enough to NOT KNOW that the things in his past could come out and let the people know just what kind of person he really is? He did these things, as on record, and now he will not explain it to the public. As a matter of fact, he never explains anything asked to him, he just ignores it and believes it will go away and we will forget all the things he refussed to admit. WELL, we will not forget, and it is time for him to confess all the things he has done that were NOT in the best interest of the public.

  4. euandus2 said

    I don’t think the reform being considered by Congress goes far enough because I don’t think they (and we) know the extent to which bankers will go to get their way. BTW, I recommend the following:

    [Hello Euandus2,

    While you make a couple of good points, your article demonstrates an overall lack of uinderstanding of the problem. It seems that you mean well but you need to read up more. No offense is intended, I am just being straight with you. – Editor]

  5. Paul Geer said

    I still believe the Left-wing Democrats blew the whole thing up on purpose, causing a ripple affect on the banks involved and the economy, to get us where we are now. Making Obama look like a hero much like Hitler looked to the starving German people in the 1930s. If you could prove that, you would have something to put these people to bed pretty much forever.

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