Thread: How the Democrats Created the Financial Crisis

Obama brazenly blames John McCain and the GOP for the current Wall Street mess when it’s clear none of it was due to Republican policies. The truth of the matter is that it was McCain and three GOP colleagues who sought to reform the government’s lending policies three long years ago after the Bush administration had failed two years earlier. On May 25, 2006, McCain spoke on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005, and warned against the debacle we are now facing if it failed to pass.

He told the Senate that a report by the Office of Federal Housing Enterprise Oversight charged that “Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives.â€

Obama has these connections with Fannie Mae and Freddie Mac. Jim Johnson and former Fannie Mae chairman and CEO Franklin Raines are part of Obama’s advisors. Franklin Raines stepped down after a $6.3 billion accounting scandal, which Obama’s calls on for advice on mortgage and housing policy matters. Jim Johnson was on Obama’s VP search and made millions from his Fannie Mae CEO job.

Obama hired these people who were a big part of the team that brought down Fannie Mae to be on his campaign.

How come Obama has not fired these people yet? How can we trust Obama to help our economy when he hangs around people that would bring America and our economy down?
http://conservativeally.today.com/2008/ ... onnection/

“Lehman Brothers collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs. A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obamaâ€

John McCain Warned of Mortgage Collapse in 2005
http://tinyurl.com/4zsekt

'Crony' Capitalism Is Root Cause Of Fannie And Freddie Troubles

In the past couple of weeks, as the financial crisis has intensified, a new talking point has emerged from the Democrats in Congress: This is all a "crisis of capitalism," in socialist financier George Soros' phrase, and a failure to regulate our markets sufficiently.

Well, those critics may be right — it is a crisis of capitalism. A crisis of politically driven crony capitalism, to be precise.

Indeed, Democrats have so effectively mastered crony capitalism as a governing strategy that they've convinced many in the media and the public that they had nothing whatsoever to do with our current financial woes…
http://www.ibdeditorials.com/IBDArticle ... 8378974502

VIDEO: The Dems and their Dirty hands
http://tinyurl.com/3f4w4n

Rules 'bent' to provide Obama advisers loans
Raines, Johnson given exemptions from standard loan requirements
http://www.worldnetdaily.com/index.php? ... geId=75998

The Best Congress Fannie Could Buy

This is a long and complicated story about how Obama backers were behind the mortgage industry meltdown. It hast to start some where, so lets start with a well known Chicago name Penny Pritzker. It starts with a bank failure: http://www.classicalvalues.com/archives ... ongre.html

Fraud: Obama as Guardian of the American Taxpayer http://article.nationalreview.com/print ... I3ZWE3NTY=

Fannie Mae, Freddie Mac execs now offering advice to Obama
Senator's links to mortgage giants also include campaign contributions
http://www.worldnetdaily.com/index.php? ... geId=75586