Some of these are funny, but they actually have the facts a bit wrong.
The financial crisis was brought about the the failure of Fannie Mae, which is the semi-governmental company that funds mortgage lending.
It has been committing fraudulent accounting for years. About 2 years ago, John McCain tried to get a bill passed to stop this, and President Bush had also warned us in his State of the Union address.
But all of this was blocked by Barney Frank and Chris Dodd, in Congress. Congress created this mess, and Democrats who provided cover for Fannie Mae are responsible.
The recent CEO of Fannie Mae paid himself bonuses totally over $90 million. He is a former Clinton official. Other ex-Clinton people on the board also stole millions.
You won't read about this in the paper, since the press is completely in the tank for Obama, a fellow Democrat.
And McCain tried to stop it two years ago, but his efforts were stopped cold.
Roger may, in fact, have a point there. This article from 1999 correctly predicted the 2008 debacle!!! And it unambiguously mentions the Clinton greed machine for creating the monster. Of course, a part-- a large part-- of the blame must also land on the clothes of the super-educated, super-smart white-collar bankers that supported and perpetuated this greed. On the way, losing the noble goal of "affordable housing for minorities" to "more bad loans, more fudging, more profits".
An excerpt: Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
More at http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&&scp=2&sq=Fannie%20Mae%20affordable%20housing%20HUD%201999&st=cse
Hello my lovely readers,
It's been nearly 18 years since I started this blog. So now my blog is an
adult :)
Some years ago, I started something calle...
“Oceania had always been at war with Eastasia.” In George Orwell’s 1984,
the past is altered, but war is constant; the names of the combatants are
change...
Late at night:
'I'm never playing tennis again - I fell sick after that game in the sun
two weeks ago,' I announced to Vijay. 'My yoga mentor said I'm ...
It is sad to see the wave of pain and suffering through the world. Whether
it is Russia/Ukraine, Israel/Palestine, or Manipur, there is no
justification th...
We often develop slang or codewords to keep the others from understanding
what we’re saying. Here’s an example (thanks BK) of the lengths that some
are goi...
Dearest Antu,
15 is a nice round number. No pressure of the 16 yet. Not too far from 13.
One can get away with pretty much anything. One is either “such ...
Content: Bill Maher reframes DeSantis out of 2024 SVB, Silicon Valley Bank
situation Mark Cuban on FDIC 250,000 protection limit USA Today compares
Maine...
The Pakistani agent who stayed in Kashmir with open access to corridors of
power for 10 years.
It is incredible indeed that a German-American woman working...
Kannur is a quirky land. With quirks that are lovable to the Kannur folk,
but very weird, initially at least, for the non Kannureans. Our Gods too,
are G...
US billionaire and philanthropist Bill Gates dismissed multiple conspiracy
theories about him and COVID-19 in an interview with CBS Evening News.
Gates, wh...
Over the last 10 years, there is one question readers have asked of me over
and over again: “When will you write fiction?”
My standard reply, “There are ...
Reason
To the logical and analytical, this is their incarnation of God. Causality,
reason, logic, they are all part of what makes one's life ordered,
pred...
I've been getting haircuts from non-parlour-aunties for about fifteen years
now. I graduated from parlour aunties roughly when I graduated from school,
bel...
The title is borrowed from a quote by Hannah Gadsby from her Netflix
special, Nanette. In case you haven’t heard of it or watched it yet, I
urgently urge y...
Originally posted on thelifeididntchoose:
Bereaved parents feel increasing pressure as the days count down toward
December 25th. Everywhere we look familie...
Earlier this year my search for a good pair of running shoes took me to a
Nike store. I came across this amazing poster there, and the image has
stayed wit...
The demonetization of high value currency notes has created a huge uproar -
both in favour and against the call. Though the initial call was to catch
hold ...
*My *father’s neighbour called.
It was a call ostensibly to invite me to his son’s wedding that was to take
place next month.
That done he said, “Please ...
What a year this has been and what a week that went by!
Both India and US made waves in the world - the long term impact of neither
can be fathomed at this...
*Sukanya *
*Chapter Six *
Power cuts were something that the people of Meerut accepted with
equanimity while cussing loudly as they fanned themselves. Bade...
Hello people! I miss blogging. Miss my blog. Miss the discussions with my
readers. But that ‘zing’ I need to blog has hardly been there. Today for
some rea...
Given the incredible power we're all experiencing from the Linkedin
Influencer program, I've decided to move this blog to that platform but
will keep this ...
By:Rik Hoffelder
------------------------------
*Overview*
One of the features of using Citrix's VSC with XenServer and NetApp storage
is to take advantage ...
Well I used to run a Facebook group called Altaf Bhai The Real Rockishtaar!
and I am one of the only 3 members there (Its a invites only page, and no
one ...
Dear Friends Participated in an online Photography competition organized by
ICICI Bank. There are 3 entries by me, please vote for them and be kind to
spre...
In the wake of The Avengers, I was asked to assemble an Indian Counterpart
of the Superhero Team by Mans World Magazine for their May 2012 Issue. It
was...
So, this Saturday, Veebee turned 1. He is taking a few tentative steps, but
crawling is still the preferred mode of mobility. He is so different from
Chip....
Thanks to my readers in 2011 who ask me questions via email or comments. I
try to respond to as many as I can and to my best of knowledge.
There is this o...
There once lived a man who was too large for regular sized clothes. But he
desperately wanted new clothes so he could attend the wedding of the
princess. A...
At the Pragati Maidan Metro Station, two people waited.. One was a young
woman not more than twenty, dressed in black like most of the people her
age. Ev...
I dislike forwards, specially the religious forwards, the consequence
forwards (categories here).
But there was this one forward that my uncle sent me las...
*WARNING: **The ideas and schemes discussed in this article have to be
understood properly before applied. Short-cuts or alterations can result in
heavy ...
I knew that this would happen at some point, but so soon, that was a
surprise. In fact, I found it amusing that I was pulled over for speeding
(73 kmph on ...
So, does anyone know what Queen Latifah, Vanessa Williams and I have in
common, besides from being strong black women?
Hmmm? Give up?
Heh. Our birthday is...
3 comments:
Some of these are funny, but they actually have the facts a bit wrong.
The financial crisis was brought about the the failure of Fannie Mae, which is the semi-governmental company that funds mortgage lending.
It has been committing fraudulent accounting for years. About 2 years ago, John McCain tried to get a bill passed to stop this, and President Bush had also warned us in his State of the Union address.
But all of this was blocked by Barney Frank and Chris Dodd, in Congress. Congress created this mess, and Democrats who provided cover for Fannie Mae are responsible.
The recent CEO of Fannie Mae paid himself bonuses totally over $90 million. He is a former Clinton official. Other ex-Clinton people on the board also stole millions.
You won't read about this in the paper, since the press is completely in the tank for Obama, a fellow Democrat.
And McCain tried to stop it two years ago, but his efforts were stopped cold.
Obama is part of this problem, not the solution.
These were very funny...... LOL!
Cheers,
Quirky Indian
http://quirkyindian.wordpress.com
Roger may, in fact, have a point there. This article from 1999 correctly predicted the 2008 debacle!!! And it unambiguously mentions the Clinton greed machine for creating the monster. Of course, a part-- a large part-- of the blame must also land on the clothes of the super-educated, super-smart white-collar bankers that supported and perpetuated this greed. On the way, losing the noble goal of "affordable housing for minorities" to "more bad loans, more fudging, more profits".
An excerpt:
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
More at http://query.nytimes.com/gst/fullpage.html?res=9c0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&&scp=2&sq=Fannie%20Mae%20affordable%20housing%20HUD%201999&st=cse
Post a Comment