'Old news' Obama seeks campaign donor enthusiasm

Jun 23, 2011 | Posted by: roboblogger | Full story: St. Augustine Record

President Barack Obama turned to the bright lights of Broadway and celebrity backers Thursday night to raise money for his re-election bid.

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21 - 26 of 26 Comments Last updated Jun 28, 2011
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true

Charlottesville, VA

#22 Jun 27, 2011
Kahoki wrote:
<quoted text>
Smiling or wiping the sperm from your lips?
LMFAO, good one for the pattyboy
i guarantee he has one of those obama sex blowup dolls china makes

Since: Nov 08

Location hidden

#23 Jun 27, 2011
true wrote:
<quoted text>
Truth get to ya rough rider boy, do the world a favor and move to gay island with swallower marine patty and stay out of america
Don't be so hard on Marine Patty, he now works for the sperm bank..........as a container and drainer.
true

Charlottesville, VA

#24 Jun 27, 2011
Le Jimbo wrote:
<quoted text>Don't be so hard on Marine Patty, he now works for the sperm bank..........as a container and drainer.
A swallower is he
WH Commie StumbleBum

Santa Monica, CA

#25 Jun 28, 2011
The DEMOCRATS -- Clinton and his administration (including Frank, Dodd, and Fannie and Freddie) are responsible for creating the too big to fail banks, for failure to regulate Hedge Funds, and for failure to regulate derivatives. In addition, the housing policies pushed by his adminstration under HUD Secretary Andrew Cuomo are responsible for expanding subprime loans.(while Bush tried 17 times to stop it).

Clinton signed the Gramm Leach Bliley Act and the Commodity Modernization Act (CRA). Poor public policies in the 1990s (the CRA for example) combined with those deregulation bills, and a period of very low interest rates earlier in the decade (after the Nasdaq bubble broke in 1990 and ushered in a recession) all fueled a housing bubble, and the asset securitization of the mortgages, and extreme leverage using unregulated derivative products of various sorts all contributed to the crisis.

The democrats and Fannie/Freddie's easing of credit requirements (which created the problem) in 1999 AND their thwarting of Bush's attempts to stop them in 2003 had FAR FAR more to do with the housing collapse than Bush.

2003: Bush proposes what the NY Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago". 1 of 17 proposals.

President Bush tried 17 TIMES to stop the corrupt Frank, Dodd, Waters, and their corrupt contributors Fannie/Freddie, but was thwarted. Bush SHOULD HAVE SHUT THEM DOWN like Pelosi, Reid, and Obama have shut down bipartisanship since the demoocrats took over both houses of congress in January 2007. But he did not. Blame lies with the democrats -- ALL OF IT.

And what have those same democrats and Obama done lately?....Promise Fannie and Freddie (who control 75% of all US mortgages and are $160 billion in the red) unlimited taxpayer funding, while EXCLUDING THEM from their financial reform bill.
_______

From Alz: http://www.topix.com/forum/us/politics/T50ESI...

CRA was part of it. When Carter dreamed it up, it didn't have much of a bite. Clinton ramped it up and that's when the problems started happening.

It would have been better to let the market take care of the problems rather than allow forced government regulation that skewed the market over time.

(Sept 1999) "Fannie Mae Eases Credit To Aid Mortgage Lending"
http://query.nytimes.com/gst/fullpage.html...

(Sept 2003) Bush tries to fix it
"New Agency Proposed to Oversee Freddie Mac and Fannie Mae"
http://query.nytimes.com/gst/fullpage.html...

"The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago."

"Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry."

"The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios."

"The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken."

Blame is spelled D-E-M-O-C-R-A-T-S. Barney Frank and Chris Dodd should have been frog-marched to jail.

[continues...]
WH Commie StumbleBum

Santa Monica, CA

#26 Jun 28, 2011
[continued, Part 2 of 2]

VIDEO: Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown


VIDEO: Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
http://www.youtube.com/watch...
________

The Real Culprits In This Meltdown -- Investors Business Daily, 09/16/2008
http://www.investors.com/NewsAndAnalysis/Arti...
________

And where are these Fannie Mae executives now?
Franklin Raines ($90 million in compensation): Economic Advisor to Barack Obama
Jamie Gorelick ($26 million): Major Democratic Fundraiser
James Johnson ($21 million): Advisor to Barack Obama
________

"I think that the responsibility that the Democrats have may rest more in resisting any efforts by the Republicans and the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac." -- Bill Clinton

http://query.nytimes.com/gst/fullpage.html...
"These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis", said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee.

"The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
_________

From the Laughing Liberal: http://www.topix.com/forum/us/politics/T4R1N8...

Here's 7 records of people speaking out and raising the red flag of a mortgage crisis based on Clinton, Janet Reno, Cisneros, Cuomo forcing prosecution based on "Discrimination" reports generated by Federal Reserve Computer programs:

1) 1992: Republican representative Jim Leach (IO) warned of the danger that Fannie and Freddie were changing from being agencies of the public at large to money machines for the principals and the stockholding few.

Here's one of the best explanations I've read (6 pages):
http://findarticles.com/p/articles/mi_m1282/i...

2) 1993: National Review dissents Dec 27, 1993 Robert Stowe England

3) As Congress's leading mortgage expert, Representative Bruce Vento (D., Minn.), explains: "We can't take away the judgment of individual financial institutions about what is a good credit risk.

4) Mr. Congdon, an economic advisor to Gerard & National in London and managing director of the economic consulting firm Lombard Street Research. "If it succeeds in driving banks to make bad loans in order to improve their minority-approval rates, this will eventually lead to more foreclosures in troubled inner-city communities. It will also reduce the available capital to credit-worthy borrowers, forcing more Americans to settle for a less attractive home than they had expected..."

5) NY Times 1999
Fannie Mae Eases Credit To Aid Mortgage Lending

...Peter Wallison a resident fellow at the American Enterprise Institute.''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

6) 1999: New Treasury Secretary, Lawrence Summers, became alarmed at Fannie and Freddie's excesses. Congress held hearings the ensuing year but nothing was done because Fannie and Freddie had donated millions to key congressmen and radical groups, ensuring no meaningful changes would take place. "We manage our political risk with the same intensity that we manage our credit and interest rate risks," Fannie CEO Franklin Raines, a former Clinton official and current Barack Obama advisor, bragged to investors in 1999.

7) 2003: Bush proposes what the NY Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago". 1 of 17 proposals.
Storm Warning

De Forest, WI

#28 Jun 28, 2011
Marine Corp Pat wrote:
President Obama raised over 750 million dollars during his 2008 campaign; this time he could exceed 1 billion dollars… and that will be the fuel that drives all the effort to be a superior force to whatever anemic right-wing challenger that is crapped out from the tea-baggers republican primaries to be slaughter in the 2012 General Election.
I gave my $100 on the day he announced his re-election website, and was smiling as I did it.
sound like a cheapskate, many give a lot more to the humane society not knowing its filled with wack jobs just like the democratic and republican party. America would do real good if they all left. I hope each one develops rectal itch. may the fleas of a thousand camels infst their dewllings and their wives screw the milkman.

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