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No words can describe how much the media covers for Democrats dripping with criminality and corruption like Barney Frank.
Fox News - Bill Sammon

Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank’s relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie.

Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical.

Business & Media

Frank was and remains a stalwart defender of Fannie Mae, which is now under FBI investigation along with its sister organization Freddie Mac, American International Group Inc. (NYSE:AIG) and Lehman Brothers (NYSE:LEH) – all recently participants in government bailouts. But Frank has derailed efforts to regulate the institution, as well as denying it posed any financial risk. Frank’s office has been unresponsive to efforts by the Business & Media Institute to comment on these potential conflicts of interest.

While the relationship reportedly ended 10 years ago, Frank was serving on the House Banking Committee the entire 10 years they were together. The committee is the primary House body which along with the Office of Federal Housing Enterprise Oversight (OFHEO) has jurisdiction over the government-sponsored enterprises.

FRANK’S PARTNER PUSHES FOR ACCEPTANCE
Published on August 21, 1995
Author(s): Bob Hohler, Globe Staff

WASHINGTON — Herb Moses, who shares a house, a mortgage, two cars and a romantic life with Rep. Barney Frank, considers himself an equal of Victoria Reggie Kennedy as a congressional spouse. What Moses does not consider equal is the treatment that he and Sen. Edward M. Kennedy’s wife of three years receive from the news media. In his eight years as Frank’s domestic partner, or — their term — ”lover,” Moses complains

Newsbusters was hot on the trail of Frank -n- Moses almost two years ago to the day.

On December 31, 1992, ABC showed its love for Barney Frank by putting on Frank and his then-lover, Herb Moses, in the middle of a celebrity medley singing “Winter Wonderland,” awarding them this (suddenly political) part of the lyrics: “And pretend that he is Parson Brown. He’ll say are you married, we’ll say ‘no, man’…”

As of right now there is a whole TWO links to this scandal on Google News !

Frank -N- Freddie

Barney Frank at Open Congress

Somebody FINALLY has the stones to call out Barney Frank on his soaking incompetence and connections to the Fannie Mae and Freddie Mac fiasco.
Bill O’Reilly blasts Barney Frank as Frank outright lies about his involvement in the Fannie / Freddie meltdown.

Video Stolen from Hot Air

Barney Frank and his Fannie and Freddie ties have crossed over the ethics line long ago and has arguably become nothing short of criminal.

Technorati Tags: barney+frank, democrats, fannie, freddie, mortgage, meltdown, bailout, corruption,

The daily reminder of how Barney Frank and the Democrats turned a blind eye to the Fannie Mae, Freddie Mac mortgage meltdown.

Technorati Tags: democrats, corruption, mortgage meltdown, fannie, freddie, barney frank, chriss dodd

I’m not sure what to do, I wish I had a flip chart or something because I never thought this day could come.

I actually agree with a post from King Nutroot Markos at DailyKos on the present financial bailout sham that the congress is about to lay on Americans.

Credit now is and has been for decades a staple in every American business and almost every individual American’s life, it wasn’t always this way and doesn’t have to be. There was a time when people and business owners purchased things only when they had the capital to do so.

Daily Kos: State of the Nation

Bowers says that there’s no crisis. I’m not sure I’m willing to go there yet, but I’m not convinced there is one. What we need to determine the extent of this “crisis”:

1. Transparency. Release the presentation Paulson gave to congressional leaders that supposedly has them all spooked. Give us the data and information, and let outside economists pore over the numbers and reach independent conclusions. The Bushies lie and have zero credibility. We can’t trust anything they say.

2. Timing. Why the sudden rush, when the administration has been working on this plan for months? Seems more than a little suspicious.

3. Solution. We don’t know what the problem is, so we really don’t know if this solution addresses that problem. What we do know is that it’s targeted not just at failing institutions, but any old financial firm on Wall Street that wants a piece of our money. Even those that “are very successful banks and investment houses that have done very well”. Heck, did I say “on Wall Street”? I almost forgot. Any foreign bank can apply!

4. Details. Why $700 billion? Why not start off with, say, $75 billion. Is the emergency so dire that Treasury will spend all $700 billion next week? Doubtful. So put in what would amount to a bridge loan until people have had a chance to full understand the magnitude and severity of the problem. If it’s truly as bad as people say it is, further moneys can be appropriated.

5. Motives. Given that the administration wants to give money to solvent financial institutions, is this just another component of the long-running conservative effort to bankrupt the government to destroy government’s ability to improve people’s lives?

6. Incentives: The administration is really concerned that solvent banks may not take the bailout, so it has to be as condition-free as possible. Why is the administration desperate to force taxpayer funds into these private Wall Street institutions? If they don’t want our money, everyone wins, best of all, the taxpayers.

7. Politics. The American people hate this thing, and those approval numbers are only getting worse. Given all the points listed above, whoever votes for this thing, even an “improved” version, will face a world of hurt this November, and if not this year, in primaries and general elections through 2010.

Technorati Tags: mortgage meltdown, congress, nutroots, aig, fannie, freddie

So you want to have a Fannie Mae Freddie Mac connection contest?

Let’s not forget Barack Obama is the “Change” candidate who’s all about a new kind of politics.

Just a hint of Barack Obama’s connections to Fannie and Freddie:

The two institutions have long been run not by bankers but by retired political figures, predominantly Democrats. From 1991 to 1998, Fannie Mae was headed by James Johnson, a longtime aide to former Democratic vice president Walter Mondale. Johnson’s successor, Franklin Raines, had served as budget director to Bill Clinton. Jamie Gorelick, vice chair of Fannie Mae from 1998 to 2003, served as deputy attorney general in the Clinton administration.

And at the polls this November, the voters will likely exact a political price for the debacle from John McCain and the Republicans — even though the party most tainted by the failure ought to have been the Democrats. Indeed, James Johnson until recently chaired Barack Obama’s vice presidential selection committee.

And here is the BIG CONNECTION (not) that that the NY Times reports the McCain camp had to Fannie and Freddie:

Mr. Davis was hired as a consultant, not a lobbyist, the officials said. Davis & Manafort in recent years has filed federal lobbying reports for a number of companies but not Freddie Mac or Fannie Mae.

Later in 2006, Mr. Davis was working on Mr. McCain’s emerging presidential campaign, as chief financial officer. The only thing that Freddie Mac officials could recall Mr. Davis doing for the company was the October 2006 pre-election forum with mid-level and senior executives who contribute to Freddie PAC, the company’s political action committee.

So let’s review:

• James Johnson, Obama’s Chair of finding a Vice President was HEAD of Fannie Mae.

• Rick Davis a John McCain advisor once speaking to a political action committee of high-ranking Freddie Mac employees in October 2006

Yes I say wee deeply explore the candidate’s connections to Fannie Mae, Freddie Mac and the mortgage meltdown.

http://www.washingtonpost.com/wp-dyn/articles/A21138-2004Dec22.html
http://blogs.usatoday.com/onpolitics/2008/06/obama-vp-vetter.html
http://www.nysun.com/national/top-talent-scout-for-obama-tied-to-subprime-lender/79579
http://online.wsj.com/article/SB121279970984353933.html
http://marcambinder.theatlantic.com/archives/2008/06/james_johnson_a_problem.php
http://campaignspot.nationalreview.com/post/?q=OWEyN2JhNjU0MTk1ZmNmNzBiMWJkMmY2NTZjY2VjNzI

Technorati Tags: 2009, mortgage meltdown, mccain, obama, davis, johnson, fannie, freddie

Enablers - Democrats, Fannie Mae and Freddie Mac

Since it’s election time the Democrats are and will do all they can to cover up and shift the blame.

Thanks to Hot Air for the clip.

Fannie Mae, Freddie Mac execs now offering advice to Obama

Instead, Democrats in Congress have sought to preserve the
quasi-governmental status of the mortgage giants, seeing Fannie Mae and
Freddie Mac as places to locate former top Democratic Party operatives,
where they have earned millions in compensation, despite a continuing
series of financial scandals. Enron-like accounting manipulation, for
example, boosted earnings to a level at which massive executive bonuses
could be paid.

In the aftermath of the U.S. government takeover, attention has
focused on three Democrats with close ties to Obama who served as
Fannie Mae executives: Franklin Raines, former Clinton administration
budget director; James Johnson, former aide to Democratic Vice
President Walter Mondale; and Jamie Gorelick, former Clinton
administration deputy attorney general.

All three Obama-related executives earned millions in compensation from Fannie Mae.

1. Johnson earned $21 million in just his last year serving as Fannie Mae CEO from 1991 to 1998;
2. Raines earned $90 million in his five years as Fannie Mae CEO, from 1999 to 2004;
3. Gorelick earned an estimated $26 million serving as vice chair of Fannie Mae from 1998 to 2003,

according to author David Frum, a fellow at the American Enterprise Institute.

All three have been involved in mortgage-related financial scandals.

Technorati Tags: mortgage meltdown, democrats, fannie, freddie

Senator Chris Dodd is an incompetent fraud who’s behavior and actions at minimum would prove him guilty of gross contributory negligence and yet this corrupt “wanna-be” banker has the indecency to offer bailout legislation even after he knowingly prevented any regulation of Fannie Mae and Freddie Mac when he was warned of this very situation just a few years ago !

The Crypt: Dodd bill more aggressive than Treasury plan - Politico.com

Banking Committee Chairman Christopher Dodd is taking much more aggressive approach to the Treasury bailout plan, demanding foreclosure assistance, limits on executive compensation and profit sharing for taxpayers if the Treasury begins to make money back on the bad debt it plans to purchase.

So Chris Dodd who is in bed with the Banks, who has the Banks write his legeslation is now proposing legislation to fix the bank problem he helped create.

The Corner on National Review Online

This discussion document (dated March 11, 2008) would appear to support the contention that BofA essentially wrote the bailout section of the bill. Almost all of BofA’s preferences are mirrored in the Dodd-Shelby legislation. The BofA document even offers PR tips, such as “We believe that any intervention by the federal government will be acceptable only if it is not perceived as a bail-out of the bond market.”

UPDATE: Josh Marshall from Stalking Points Memo has said that this post is racist!

Technorati Tags: economy, mortgage meltdown, dodd, bailout, democrats, fannie, freddie

“But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.“

Bloomberg.com: News

Back in 2005, Fannie and Freddie were, after years of dominating Washington, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission’s chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie’s position on the relevant accounting issue was not even “on the page” of allowable interpretations.

So why are the Democrats at fault?
From the Bloomberg article above, bold added:

But the bill didn’t become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn’t even get the Senate to vote on the matter.

That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: “It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.”

Technorati Tags: mortgage meltdown, democrats, economy, dodd, fannie, freddie, bailout

Barack Obama and his campaign hacks are lying their Fannie off.

Today:

Campaigns target each other’s advisers

Obama spokesman Bill Burton said he has since asked the Post for a correction. Burton said Obama only met Raines once briefly at an event, and that Raines sought an introductory meeting with Obama Senate aide Mike Strautmanis. At that meeting, Burton said no advice was sought from or given by Raines, who also had served as President Clinton’s budget director.

July 16th

On the Outside Now, Watching Fannie Falter - washingtonpost.com

More recently, taken calls from Barack Obama’s presidential campaign seeking his advice on mortgage and housing policy matters.

Technorati Tags: obama, lies, mortgage meltdown, 2008, raines, burton