Fannie Mae and Freddie Mac spend $640 on "lavish" conference

Dec 2, 2011 | Posted by: roboblogger | Full story: 92.5 KGB-FM

Fannie Mae and Freddie Mac spent over half a million dollars to send 100 employees, that's $6,400 per person, to a "lavish" conference in Chicago.

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21 - 40 of 140 Comments Last updated Dec 6, 2011
Robert

Miami, FL

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#21
Dec 2, 2011
 

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I thought Obama was going to put a stop to this sort of waste.
Gary

Bellingham, WA

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#22
Dec 2, 2011
 

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Fannie Mae is a privately owned corporation. If they
want to spend big bucks on their employees, who is to complain? That's why people work their way up the corporate ladder in a big company....to be able to start lapping up some of the gravy.

Conservatives have a problem with the idea of
corporate elitism?

Since when?

Since: Dec 07

Spring, TX

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#23
Dec 2, 2011
 

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Gary wrote:
Fannie Mae is a privately owned corporation. If they
want to spend big bucks on their employees, who is to complain? That's why people work their way up the corporate ladder in a big company....to be able to start lapping up some of the gravy.
Conservatives have a problem with the idea of
corporate elitism?
Since when?
The federal takeover of Fannie Mae and Freddie Mac refers to the placing into conservatorship of government sponsored enterprises Fannie Mae and Freddie Mac by the U.S. Treasury in September 2008. It was one financial event among many in the ongoing subprime mortgage crisis.

On September 6, 2008, the director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, announced his decision to place two Government sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by the FHFA.
In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator John Corzine (D-NJ)(S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee At the time members of the 108th congress expressed faith in the solvency of Fannie and Freddie. Congressman Barney Frank (D-MA), for example, described them as "not facing any kind of financial crisis."

It's another boodoggle government piece of crap brought to us by the demorats. Try to keep up with the rest of the world!
drink the hive

Amsterdam, Netherlands

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#24
Dec 2, 2011
 
The Corporate - Government Puppet String' Are So Utterly Visible Now - So Brazen And IN-YOUR-FACE But They Know No One Cares!...

http://www.funnyphotos.net.au/images/this-is-...
Makes sense

Dearborn Heights, MI

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#25
Dec 2, 2011
 

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Ayreshire wrote:
<quoted text>
Good for them. Newt deserves every penny of it!! Why you ask?? Because thanks to him and the Republican Controlled Congress under Clinton we got a balanced Budget!! It hasn't happend since! I love CHRISTMAS LIGHTS because they remind me of Obama supporters like you.
They all hang together, half of them don't work, and the ones that do - aren't that bright.
Wow, Cain hasn't even left and you jumped to the next adulterer, I mean, flavor of the week. Newt is a government welfare queen who would know a job if it bit him on his pointy ears. How's that for a Christmas analogy? Make I wasn't so clear. That elitest with all the skeletons in his closet looks like a big ol' fat elf. LOL

...and he doesn't have a snowball's chance in hell of getting elected. Believe it or not, Ron Paul has a much better chance, winning as a write-in candidate.
Makes sense

Dearborn Heights, MI

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#26
Dec 2, 2011
 
enjoy the typos
Makes sense

Dearborn Heights, MI

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#27
Dec 2, 2011
 

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Ayreshire wrote:
<quoted text>
Good for them. Newt deserves every penny of it!! Why you ask?? Because thanks to him and the Republican Controlled Congress under Clinton we got a balanced Budget!! It hasn't happend since! I love CHRISTMAS LIGHTS because they remind me of Obama supporters like you.
They all hang together, half of them don't work, and the ones that do - aren't that bright.
BTW If ol' Newtie was so great, why did the REPUBLICANS run him out of office???? LOL You must be a Bush-type big spender, if you think it's great what Newt did sucking our treasury dry.

“Angry Antlers ”

Since: Sep 08

Miami

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#28
Dec 2, 2011
 

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Ayreshire wrote:
<quoted text>
I love CHRISTMAS LIGHTS because they remind me of Obama supporters like you clown!!
They all hang together, half of them don't work, and the ones that do - aren't that bright.
And you remind me of a Christmas tree at the end of January- all dried out and the balls are only there for decoration.

LOL!!!
Makes sense

Dearborn Heights, MI

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#29
Dec 2, 2011
 

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Robert wrote:
I thought Obama was going to put a stop to this sort of waste.
In 2010, you voted to continue it.
ZIAmouth585

Albuquerque, NM

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#30
Dec 2, 2011
 

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Bluebonnets-Thistle wrote:
<quoted text>
The federal takeover of Fannie Mae and Freddie Mac refers to the placing into conservatorship of government sponsored enterprises Fannie Mae and Freddie Mac by the U.S. Treasury in September 2008. It was one financial event among many in the ongoing subprime mortgage crisis.
On September 6, 2008, the director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, announced his decision to place two Government sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by the FHFA.
In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac. In 1992 in the wake of the Savings and Loan crisis, and over concern similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban Development While Senate and House leaders voiced their intention to bring about the needed legislation, no reform bills materialized. A Senate reform bill introduced by Senator John Corzine (D-NJ)(S.1656) never made it out of the 21-member (10D/11R) Senate Banking, Housing, and Urban Affairs Committee At the time members of the 108th congress expressed faith in the solvency of Fannie and Freddie. Congressman Barney Frank (D-MA), for example, described them as "not facing any kind of financial crisis."
It's another boodoggle government piece of crap brought to us by the demorats. Try to keep up with the rest of the world!
This is hilarious. You blame the Democrats yet the truth is in front of you. The 108th Congress had a REPUBLICAN majority. The Republicans committees in the Senate and House that deal with banking both had Republican majorities. You even stated the 21 member Senate Banking, Housing and Urban Affairs Committee had 10 Dems and 11 Republicans. Chairman was Sen Shelby a Republican. Likewise the House Financial Services Committee had a Republican majority, headed by Chairman Oxley. The committee contained 37 Republicans, 31 Democrats and 1 Independent.

So given those facts, explain how a lone House Democrat (Frank) could save Freddie and Fannie. Even if every Democrat on their respective committees voted with Frank they still lacked a simple majority. Please explain.

Since: Feb 08

Hypoluxo Fl

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#31
Dec 2, 2011
 
ZIAmouth585 wrote:
<quoted text>
This is hilarious. You blame the Democrats yet the truth is in front of you. The 108th Congress had a REPUBLICAN majority. The Republicans committees in the Senate and House that deal with banking both had Republican majorities. You even stated the 21 member Senate Banking, Housing and Urban Affairs Committee had 10 Dems and 11 Republicans. Chairman was Sen Shelby a Republican. Likewise the House Financial Services Committee had a Republican majority, headed by Chairman Oxley. The committee contained 37 Republicans, 31 Democrats and 1 Independent.
So given those facts, explain how a lone House Democrat (Frank) could save Freddie and Fannie. Even if every Democrat on their respective committees voted with Frank they still lacked a simple majority. Please explain.
Don't hold your breath waiting for a logical, factual, lucid explanation from a home schooled teabagger.
ZIAmouth585

Albuquerque, NM

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#32
Dec 2, 2011
 
Made an error. The House Financial Services Committee had 38 Republicans, 32 Democrats and 1 Independent. Majority leader was Rep Oxley, a Republican and minority leader was Frank, a Dem. I forgot to add in the two leaders.
Far Away

Anchorage, AK

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#33
Dec 2, 2011
 

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Robert wrote:
I thought Obama was going to put a stop to this sort of waste.
Makes sense wrote:
<quoted text>
In 2010, you voted to continue it.
Then how do you explain the Democrat trifecta intentionally and specifically omitting Fannie and Freddie from the Wall Street Reform and Consumer Protection Act? I'd say you voted to continue it because that's on Øbama, Reid and Pelosi.

“"Beau-Se'ant”

Since: Jan 09

Manchester

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#35
Dec 2, 2011
 

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Bluebonnets-Thistle wrote:
<quoted text>
A hell of a lot less then Frank and Dodd got under the table!
I've read that the liberal shill for the democrats that was hand selected to run Fannie Mae, Franklin Raines, earned as much as 90 million dollars at the helm.

In a quasi-governmental position? Am I the only one outraged by this? You don't think the people connected... Frank, Dodd, Schumer, Waters... and more... are benefactors?

Fannie had to be bailed out what, twice now... BILLIONS in bailouts for a quasi-governmental banking entity that in fact created TRILLIONS in debt for the taxpayers of this country. TRILLIONS. And the only thing the dems could tell us was that they were SOLVENT:
http://www.youtube.com/watch...
WOODCHUCK

North Port, FL

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#36
Dec 2, 2011
 

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PooPoo Platter wrote:
All the hotel & restaurant business done, all the plane fares and transportation revenue generated, all the taxes collected, all the shopping in local stores...
This so called "lavish" conference probably did the Chicago economy a lot of good.
As Monty Python once sang at the end of their movie, "...always look on the bright side of life..."
FOR YOU JUST FOR YOU!...yer DREAM CREATURE!.....
PEEK if you DARE!!....BURKA POOP POOP!

http://s28.photobucket.com/albums/c236/sionns ...

Since: Dec 07

Spring, TX

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#37
Dec 2, 2011
 

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ZIAmouth585 wrote:
<quoted text>
This is hilarious. You blame the Democrats yet the truth is in front of you. The 108th Congress had a REPUBLICAN majority. The Republicans committees in the Senate and House that deal with banking both had Republican majorities. You even stated the 21 member Senate Banking, Housing and Urban Affairs Committee had 10 Dems and 11 Republicans. Chairman was Sen Shelby a Republican. Likewise the House Financial Services Committee had a Republican majority, headed by Chairman Oxley. The committee contained 37 Republicans, 31 Democrats and 1 Independent.
So given those facts, explain how a lone House Democrat (Frank) could save Freddie and Fannie. Even if every Democrat on their respective committees voted with Frank they still lacked a simple majority. Please explain.
2001 about the problems with Fannie and Freddie; in fact, Bush moved aggressively in 2004 to regulate Fannie and Freddie, actually got a bill through the Senate Banking and Finance Committee only to have it filibustered by [Sen.] Chris Dodd and Barney Frank."

Fannie Mae and Freddie Mac “accelerated their imprudent behavior after the Bush admiistration attempted to regulate them. They bought almost as much mortgage debt from 2005 through 2008” as they bought in their first 30 years of their existence. Barney Frank had a hearing in which they basically beat up everybody we sent up there in pretty vociferous language. This is the famous hearing where one of the Democratic members literally says that he is ‘pissed off’ that the administration is even raising this issue.

Barney missed the boat, apparently you were on the dock with with him.

“Liberal Teachers ruin Kids”

Since: Mar 09

Paradise Valley Arizona

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#38
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Fannie Mae and Freddie Mac spend $640 on "lavish" conference

Apperantly good ole Gay Barney Frank taught them well on the appropreate use of Tax payer monies.

Since: Dec 07

Spring, TX

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#39
Dec 2, 2011
 

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If nothing else, shouldn't we salute Democratic Rep. Artur Davis for saying, "Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."
You are Wrong

Nashville, IN

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Makes sense wrote:
Surprised? Look what they paid that government welfare queen, Newt GinGRINCH,$30K a month, for "historian" services. BTW no experience or degrees in history required for the job!
By the way, Newt has degrees, a BA, MA and PhD in history and experience teaching history.

Why is it you can't be bothered to write facts? I guess you don't have experience in research.

“"Beau-Se'ant”

Since: Jan 09

Manchester

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#41
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One thing that Newt did do... he balanced the US budget, while dealing with a socialist in the White House.

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