Rangel Charges Could Cost Democrats the House

F/F had nothing to do with the mortgage meltdown. I have already shown you that it was private mortgage lenders that made nearly half of the subprime loans that had the disproportionately high default rate. Most of the rest of the subprime loans were made by regulated, FDIC insured banks who "originated and distributed" these bad loans on to investment banks, hedge funds and other institutional investors. F/F actually reduced its holdings of such loans during the height of the subprime explosion between 2004 and 2006. This crap about Barney Frank's "boyfriend" is just so much GOP homophobic lies and distortions. By the way, the McCain campaign received big donations from F/F as well. There emerged pressure on F/F to get into subprime toward 2007 from F/F's shareholders, not the federal government. The tea party BS propaganda websites don't explain that to all their gullable readers. This makes a strong case for F/F to be renationalized based on the fact that they are a natural monopoly and also the fact that they are subject to speculative pressures by their shareholders to take unacceptable risks in order to boost share prices. This conflicts with F/F's primary mission which is to create affordable loans for first time homebuyers who qualify. Finally, it was private mortgage lenders who threw traditional lending standards out the window. They wanted high yield financial derivatives to replace the sagging stock market. The housing bubble allowed them to securitize mortgages and sell them to investors. The bond ratings agencies also contributed to the mess. This is about private financial greed not F/F. It certainly has nothing to do with fair housing laws like CRA which only outlawed redlining and which was a successful and solvent program.

Acorn was never proven to be involved in many of the scandles they're accused of. The videos taken of the phony pimp and prostitute were shown to be deceitfully edited much like the Brietbart video of Shirley Sherrod. O'Keefe lied about appearing in Acorn offices in a pimp outfit. No one gave them assistance and in two separate cases ACORN workers called the authorities. The tea parties are lying. The housing scandal isn't the big deal it's made out to be. The embezzlement was kept secret to protect ACORN and its mission, not the guilty thief;

"The staff group obtained an enforceable restitution agreement so that the funds would be returned to ACORN. With the help of friends and family, his brother has now repaid all the stolen funds. But now that the scandal has surfaced, Wade Rathke has resigned, and his brother has been fired. In the world of scandals, ACORN's missteps don't even register on the radar compared with the swindles perpetrated by top executives at Halliburton, Enron, WorldCom, Countrywide, and other major corporations who ripped off the government, stockholders, and consumers of billions of dollars."

http://www.huffingtonpost.com/peter-dreier/acorn-under-the-microscop_b_112491.html

steve of IL 8:07PM August 02, 2010

Bill, I know what the expression means, that's why I used it. I just don't understand why you think using it is insulting.

steve of IL 2:14PM August 01, 2010

What did they do to tick off Obama.

Gosh, it's getting crowded under the bus.

Miri of NY 12:41AM August 01, 2010

For once shut up , read your own comments and quit blamming people for doing what you are doing . You say , you don't fault people for their veiws , just the way they present them , oh yeah !! Read yourself you pompous idiot . I'm about sick of your self rightous attitude , even though asses like you need to be out there .

Schaefer did leave out a few .

Elliot Spitzer - women

Ex Detroit mayor - Bribes

John Conyers wife , Detriot councilwomen - bribes

Massa - men

Blago - enough said

Bill Richardson , Gary Condit , John Edwards , John Kerry (I'll park my yacht in R.I.) , rep that took Foleys place paying off women with campaign funds .

I didn't need Google either.

Hunter of WI 6:49PM July 31, 2010