Video of Democrats Covering Up For Fannie Mae, Freddie Mac in 2004 That Led To Econ Crisis

You know, Nancy Pelosi called the House Republicans “Unpatriotic” because they will not go along with the Democrat-proposed 700 Billion bailout of their rich banking scam artist pals and welfare class home-foreclosed constituents – and it’s DAMN INSULTING to watch these slimey vermin in Congress smear and castigate those who TRIED to stop this financial catastrophe that THEY WARNED ABOUT back in 2004!!

Watch this C-Span video of the House GOP trying to get regulators to obtain oversight of Fanie Mae and Freddie Mac – and WATCH what the Democrats did to them and what they had to say.

These Democrats are demons, pure and simple.

 

3 Comments

Filed under Economy, Politics

3 responses to “Video of Democrats Covering Up For Fannie Mae, Freddie Mac in 2004 That Led To Econ Crisis

  1. This is a travesty. Franklin Rains looted Fannie May for 90 million over a six year period of time.
    Is he going to be financially responsible if this bailout does not garner the dividends the dems are promising?

  2. invar

    No.

    Raines and Johnson and all the Wall Street vermin get to walk away with our money they looted.

    It’s IN the draft bailout bill:

    Section 101 of the draft bill titled “PREVENTING UNJUST ENRICHMENT:”

    PREVENTING UNJUST ENRICHMENT.—In making purchases under the authority of this Act, the Secretary shall take such steps as may be necessary to prevent unjust enrichment of financial institutions participating in a program established under this section, including by preventing the resale of a troubled asset to the Secretary at a higher price than what the seller paid to purchase the asset. This subsection does not apply to troubled assets acquired in a merger or acquisition, or a purchase of assets from a financial institution in conservatorship or receivership, or that has initiated bankruptcy proceedings under title 11, United States Code.

    In other words, this “unjust enrichment” does not apply to Fannie/Freddie, JP Morgan Chase/Bear Stearns, WaMu, and Lehman.

    It just applies to the rest of us, the government will now determine what is and is not “unjust” enrichment BUT – BUT IT DOES NOT APPLY – to the people on Wall Street and Washington that CAUSED this mess and got rich off of it!!!

  3. Pingback: Congress Caves to Wall Street « rjjrdq’s America

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