Green Energy
Roger Mudd, the former Fannie Mae President and CEO testified thusly before Congress the other day. (From Limbaugh's Blog):
He says, "They (the GSE's) did not precipitate it (the economic collapse)", but I think it is safe to say that everyone knows that this crisis started in the Mortgage industry.
The government should never tell banks to lend money to people who are not good risks. That is not only anti-Freedom, it is theft.
Would you want the government to tell you who to loan your money to? If they did, wouldn't you consider it theft?
Get the government out of the economy. Let the Free Market work on it's own.
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HEY! Has anyone heard anything about the Superduper Committee lately? You know, that extra-constitutional gang of 12 Angry Men and Women who were supposed to cure all the nations economic woes by Thanksgiving. Have they met yet? Have they made any proposals...
- Who Owns The Property If There Is No Note Associated With The Deed?
My dumb-ass speculation on the Foreclosure Crisis, based upon my limited understanding of the legal issues at hand. From the New American: Beginning in the 1990s, it became fashionable to sell mortgages to other parties, and the mortgage securitization...
- Barney Frank ... Criticism Of Dems Over Mortgages Is Racism, It 's Racism I Tell You
What a farce ! I wonder if Frank sees the irony at all as he blames republicans for deregulation being the cause, as well Rep. Barney Frank said Monday that Republican criticism of Democrats over the nation's housing crisis is a veiled attack...
- Fannie Mae/fannie Mac Ceo's Are Economic Advisers To Obama
From IBD: 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...
- The Feisty Obama? Still Factually Incorrect On The Economy And Mccain
An ad by Democrat Obama sneered: "How can John McCain fix our economy if he doesn't understand it's broken?" January 2006: Sen. John McCain [R-AZ]: "Mr. President, this week Fannie Mae's regulator reported that the company's quarterly...
Green Energy
CEO OF FANNIE MAE TESTIFIES TO CONGRESS THAT SOCIALISM CAUSED THE ECONOMIC COLLAPSE
Roger Mudd, the former Fannie Mae President and CEO testified thusly before Congress the other day. (From Limbaugh's Blog):
I believe in retrospect that there was overinvestment in housing. I believe in retrospect origination standards slipped. Home ownership rates probably rose too high.In other words, government-owned mortgage companies, who were told to give mortgages to people who could not ordinarily afford them, "contributed" to the current economic "crisis".
The GSEs (Government Supported Entities, meaning Fannie Mae and Fannie Mac) were chartered to expand and increase home ownership -- while operating as private companies.
In doing so, they contributed to the crisis, but they did not precipitate it.
He says, "They (the GSE's) did not precipitate it (the economic collapse)", but I think it is safe to say that everyone knows that this crisis started in the Mortgage industry.
The government should never tell banks to lend money to people who are not good risks. That is not only anti-Freedom, it is theft.
Would you want the government to tell you who to loan your money to? If they did, wouldn't you consider it theft?
Get the government out of the economy. Let the Free Market work on it's own.
-
HEY! Has anyone heard anything about the Superduper Committee lately? You know, that extra-constitutional gang of 12 Angry Men and Women who were supposed to cure all the nations economic woes by Thanksgiving. Have they met yet? Have they made any proposals...
- Who Owns The Property If There Is No Note Associated With The Deed?
My dumb-ass speculation on the Foreclosure Crisis, based upon my limited understanding of the legal issues at hand. From the New American: Beginning in the 1990s, it became fashionable to sell mortgages to other parties, and the mortgage securitization...
- Barney Frank ... Criticism Of Dems Over Mortgages Is Racism, It 's Racism I Tell You
What a farce ! I wonder if Frank sees the irony at all as he blames republicans for deregulation being the cause, as well Rep. Barney Frank said Monday that Republican criticism of Democrats over the nation's housing crisis is a veiled attack...
- Fannie Mae/fannie Mac Ceo's Are Economic Advisers To Obama
From IBD: 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...
- The Feisty Obama? Still Factually Incorrect On The Economy And Mccain
An ad by Democrat Obama sneered: "How can John McCain fix our economy if he doesn't understand it's broken?" January 2006: Sen. John McCain [R-AZ]: "Mr. President, this week Fannie Mae's regulator reported that the company's quarterly...