george bush just tried to throw money at it, i guess when you're rich like his family is, throwing money at problems usually works.lol

Why is it so hard for both sides to take responsibility for the housing collapse? Some directly involved, some indirectly, some turned their heads when they knew what was going on.

You guys are always screaming about how polititions lie, well duh, and they lie on both sides, yet you think you just found new evidence? Like anyone would believe that the democrats didn't also have some responsibility too.

boo, i'm not either party, but i can clearly see on the video that the republicans were arguing that there should be more regulations involved and the democrats were basically calling them chicken littles.

as I recall Bush sent the Treasury Secretary to Congress three times to warn of a crash and recession if they didnt start regulating the industry and Franks and Dodd pooh poohed him and wouldnt listen

fair enough.. get Barney Frank, Chris Dodd, Frank Raines, Maxine Water and the rest of that lot to come on all the sunday shows and tell america how they sat in committee and blabbed about how there were "no safety and soundness issues" with fannie and freddie. you get them to come on tv and radio, let them hold a press conference on the capitol steps and tell america that George Bush and John McCain warned the Congress as early as 2002 about the potential for disaster in the undercapitalized holdings at fannie and freddie. You get your beloved El Presidente to come on his saturday morning "webcast" and tell us all the tale of the time he sued the clinton white house to force unqualified borrowers into the housing market and no less than a decade later, if I may borrow a phrase, the chickens are coming home to roost.

You get that done and I'm perfectly willing to beat every republican on the hill over the head for not pushing through or at least bringing to the floor bills that, but for gridlock, could have brought about regulation of fannie and freddie before they burned they housing market down.

shall we compare remarks made in committee?

"..as well as the fact that I'm just piss_d off at OFHEO because if it wasn't for you, I don't thnk that we'd be here (in committee) in the first place. And now the problem that we have and that we're faced with is maybe some individuals who wanted to do away with GSE's in the first place. you've given them an excuse to try and have this forum so that wwe can talk about it maybe change the direction and the mission of what the GSE's had and of which they've done a tremendous job. there's been nothing that was been indicated that's wrong with fannie mae. Freddie mac has come up on its own. and the question that then presents is the competence that your agency has with reference to deciding and regulating these GSE's and so I wish I could sit her and say that I'm not upset but I am very upset because what you do is maybe you give a reason to give, as Mr Gonzales said, to give someone a heart surgery when they really don't need it" Rep Gregory Meeks (D-New York)


"Mr. Chairman we do not have a crisis at Freddie Mac and particular at Fannie Mae. Under the outstanding leadership of Mr. Frank Raines, everything in the 1992 act has worked just fine. In fact the GSE's have exceeded their housing goals. what we need to do today is focus on the regulator and this needs to be done in such a way as not to impede the affordable housing mission - a mission that has seen innovation flourish from desktop underwriting to 100% loans" Maxine Waters (D-California)

"I find this (the OFHEO report) to be inconsistent and a rush to judgement. I get the feeling that the markets are not worried about the safey and soundness of fannie mae as the (OFHEO) report says that it is. but then again the markets are not polical." Rep. Lacy Clay (D-Alabama)



"but I have seen nothing in here that suggests that saftey and soundness (of fannie mae) are at issue. And it serves us badly to raise as an issue as a general schimbalis(?) when it does not seem to me to be an issue" Rep. Barney Frank (D-Massachusets)

"This hearing is about the politcal lynching of Franklin Raines." Rep. Lacy Clay (D-Alabama)




vs..

"In addition to our important oversight role in this committee, I hope that we will move swiftly to create a new regulatory structure for fannie mae, for freddie mac and the federal home loan banks"
&
"There is a very simple solution. congress must create a new regulator with powers [i}at least equal to those of other federal regulators such as the sec and the federal reserve" Rep Ed Royce (R-California)


"and then we passed Sarbanes-Oxley which was a very tough response to that (Enron, Tyco et al) and then I realized that Fannie Mae and Freddie Mac wouldn't even come under it. they didn't come under the 33 act. they didn't come under the 34 act. they play by their own rules and I'm tempted to ask how many people in this room are in the payroll of fannie mae. cause what they do is they basically hire every lobbyist that they can hire. They hire some people to lobby and they hire some people not to lobby so that the opposition can't hire them" Rep Chistopher Shays (R-Connecticut)

"mr raines, 1.1 million bonus on a $526,000 salary. Jaime Gorrelick, 779,000 bonus on a salary of 567,000. this is.. what you've stated on page 11 is nothing less than staggering. the 1998 earnings per share number turned out to be $3 and 23 cents and 9 mils, a result that fannie mae met the EPS maximum payout goal right down to the penny... fannie mae understood the rules and simply chose not to follow them, that if fannie mae had followed the practices then there wouldn't have been a bonus that year." Rep Don Manzullo (R-Illinois)

Im getting tired of transcribing but you get the picture.. you tell me who was doing what in congress about the fannie/freddie business..



http://www.youtube.com/watch?v=_MGT_cSi7Rs

so are we saying it's all the democrats, ever last one of them is responsible for degregulation? No republicans ever wanted deregulation? Bush did every thing possible to stop what was happening, right? I spent all my time listening to both republicans and democrats for years, there are idiots on both sides but all we can do is find fault with one side or the other.

Guess I am just getting really tired of the level pessimism and the hope for failure. I won't entertain failure and I wish others wouldnt either, but oh well. I blame both sides, always did, the republicans and the democrats. I am so sick of them lashing out at eachother while we sit around waiting for them to clean up their mess.

as i have said in many posts....during bush and obama and many others before....there is good and bad everywhere. The president doesn't have absolute power. congress has their hands in it too

they can't even stop lashing out in these forums much less in Congress.

No one can tell you what they would do better, just how evil/incompetent/corrupt is the other side

barney franks has been behind every bad idea that has come across the pike.

well, if that's the case, why do you think that obama has such power?

We are talking about ego aren't we? Wanna bet how long it would take to get either side to admit to anything to anyone? Geez you keep talking about disliking what is going on but you don't accept your own party's responsibilty? I accept that my party has been chicken ****, and I myself would like to see a few poeple sent packing...

My brothers are republicans and they were laughing about the idea of both sides working with eachother. They hate eachother and we here at mingle just prove they are US. And we can spend all our time searching desperately to find everything we can to blame one side over the other but mean time both are guilty of neglect and stupidity.

because of others...no president can do it all. there is congress and the people.

I clearly see that you have much more of a problem with one party, and as I have said before the more you bash that party the more they will simply bash back and what does that solve. Nothing, so ever day I come here to seem my on line friends and in hopes that people will be in a better state of mind, but all I see is hopelessness. I just hate seeing the American people who brag about strength and dignity and courage, yet all I see is whining. I hate to hear myself whine, but when I hear so many doing it I just get exhausted by it.

I live in a poor county, and when I go into town I see people going about their business and getting ready for spring, and I think to myself what is all this whining about, it's not happening here and we are all feeling the pinch in living costs. But we are making the best of it, not griping, it doesnt solve anything.

tell me in detail how he is going to fix america. you can't do it, you're just another one of those that are mesmorized by his speech that's it. you have to be able to tell me these things if you want to be looked at seriously by me in a debate. people can just sit there and throw positive or negative buzzwards all day but it doesn't get them closer. in fact people that just keep throwing buzzwards do it because they can't get into the detail of the debate.

when the hell has telling what is proven on the goddamn video bashing?

T2....I DIDN'T VOTE FOR THE GUY!!!! I can't tell you how but that has nothing to do with wishing he would fail to say nanny nanny boo boo i told you so.

ANY ONE IN OFFICE THAT FAILS.....WILL HURT THE PEOPLE

if he was about to bring the chinese military here to the US to come pillage and rape and do what ever they wanted, would you not want him to fail? or would you think that it hurt the US if we wanted him to fail?

i see you cut short quoting me. I'm assuming it's just for brevity but there's a lingering doubtin the back of my mind as to whether or not you just don't want all those quotes repeated for the record..

as for ego.. All I want is for every person who posts on these board who insists that "this situation we're in is all Bush's fault" to be acutely aware fo just how ignorant they are of the FACTS!

i can appreciate your willingness to see both sides. and no, I have no illusions that any of those choads on capital hill will admit any kind of fault for anything ever. any one of them would blame a fart in an elevator on their own son, given the chance. that's not the point.

the point is they are foisting a LIE upon everyone that this was all Bush's fault because bush is a good boogie man and scapegoat.. I doesn't bother me because I have ome great affinity for bush. I care because they're using this as a smokescreen to pummel the American Economy into the dirt while telling us the only way to get out of it is to give poor the money they're going to steal from the highest wage-earners.

i'm glad you see that lol.

t2....are you really this thick?