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Predecessors to the Current Bailout Proposal


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[Political Soapbox]

There's a lot of cross talk between the parties about who is responsible for the current breakdown of the economy and who has the best plan to fix it, but information is starting to make its rounds that the warning signs were out there (and in some cases, in the forms of outright warnings), and certain "parties" failed to take the appropriate, or any, action despite the information and encouragement from their colleges.

 

One such article is the 1999 New York Times article entitled "Fannie Mae Eases Credit To Aid Mortgage Lending," which is starting to make its' rounds in e-mails in various annotated formats. Here is a link to the actual article in the archives of the NYT website:

http://tinyurl.com/427dzt

 

Another is more recent and was aired on Fox News, though I don't recall seeing or hearing this being covered on CNN or other news agencies. I don't have a link the article as aired, but here's a youtube link with the news clip:

http://www.youtube.com/watch?v=3QBRIsCkGQ0

 

I think most of us here stand on fairly common ground in regards to the unalienable rights guaranteed by the constitution, and how they are "interpreted," but there are other issues that are equally important we need to examine in our leaders. I support your decision to go whichever way you decide, as is your right in our free society, but do so with the knowledge of what the people you are voting for stand for. I may be preaching the choir, but I hope the information here is helpful, if not informative, none the less.

[/Political Soapbox]

 

Regards,

FLTF3

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Another thing worth noting is that many people with decent to good credit were also pushed into sub-prime loans as a means to get higher profits through higher interest rates. Don't let anyone fol you, it's about greed and a flawed monetary system that is ran DIRECTLY by banks that work in secrecy for profit. Learning about our monetary system was a big eye opener for me as well as a big disappointment, not that I know a lot. Yeah, I'm one of those nutty Ron Paul "Paleoconservatives".

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Another thing worth noting is that many people with decent to good credit were also pushed into sub-prime loans as a means to get higher profits through higher interest rates. Don't let anyone fol you, it's about greed and a flawed monetary system that is ran DIRECTLY by banks that work in secrecy for profit. Learning about our monetary system was a big eye opener for me as well as a big disappointment, not that I know a lot. Yeah, I'm one of those nutty Ron Paul "Paleoconservatives".

 

Here's a web version of some more information on the issue. Banks were at fault for sure, making loans that never should have been made, but the role congress played was far from that of the sole voice of opposition.

http://doctorbulldog.wordpress.com/2008/09...the-fannie-mae/

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Thanks FLTF3,

 

Great link, you just gave me helped me win an argument with my liberal aunt. Especially since she thinks the NY Times is the most credible news source.

 

I love the part about lenders descriminating against minorities because of their bad credit. Gives some historical context about what the liberal PC BS results in.

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For the last time this is not a liberal or conservative issue,that's a freaking ruse to foist a scam on us.This is a relete of the 1907 Bank Panic in which JP Morgan named himself the savior even when several notable senators and ocngressman openly said he caused it.JP Morgan and his cronies are buying up good debt for pennies.Like clockwork we have watched a private bank that owns a huge chunk of the FED dump it's crap on the market and make the tax payers pay for it.The most irresponsible party in this equation is the FED and it's owners.Both political candidates are backed by wall street capitalization firms.

 

Creature From Jekyll Island Returns 2

 

http://www.newswithviews.com/Spingola/deanna87.htm

 

http://www.youtube.com/watch?v=l7B4laX1E70

Edited by SOPMOD
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