Obama, Barney Frank, Fannie Mae, Freddie Mac, Democrats cause of crisis, McCain warned, McCain reformer, Youtube video, Democrat coverups, ** Bailout Truth **

“These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

Barney Frank 2003 in response to Bush administration overhaul plan.

“I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.”

John McCain

There is a new YouTube video out that reveals the truth about problems leading up to the bailout crisis and who caused them:

“Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.”

From a recent Citizen Wells article:

“Obama and his democrat buddies never let the truth get in the way
of a good story. Never has this been more true than now in the face
of a financial crisis in this country. A financial crisis Obama and
his party created. What do Obama and Barney Frank have in common
besides being Democrats. They both were listed in the top 25
recipients of campaign contributions from Fannie Mae and Freddie Mac and they both are hypocrites. Obama is number 3 on the the list
and Barney Frank is 16. Obama, the candidate of change, was in
bed with Fannie Mae and Freddie Mac yet he criticizes John McCain,
who along with George Bush, tried to fix the problem.”

Read more here:

http://citizenwells.wordpress.com/2008/09/17/obama-barney-frank-fannie-mae-freddie-mac-campaign-contributions-democrats-lobbyists-truth-about-obama-more-obama-lies-mccain-reformer/

Visit Philip J Berg’s site and contribute to his lawsuit:

http://obamacrimes.com

Send a clear message to Obama and congress:

http://obamaimpeachment.org

I would like to thank Mighty Quinn, a commenter on this blog, for bringing the YouTube video to my attention.

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9 responses to “Obama, Barney Frank, Fannie Mae, Freddie Mac, Democrats cause of crisis, McCain warned, McCain reformer, Youtube video, Democrat coverups, ** Bailout Truth **

  1. Remember this is from 2005 —

    Explosive Video, Fannie Mae CEO calling Obama and the Dems the “Family” and “Conscience” of Fannie Mae

    Explosive CEO calling Obama and Dems the “Family” “Conscience” of Fannie Mae

    The Banking Failures are because of the Housing Crisis, which was caused by mortgage lenders handing out bad loans and the biggest offenders: Fannie Mae and Freddie Mac

    “The Democrats have been taking PAYOFFS from Fannie and Freddie to look the other way FOR DECADES!

    NOW VIDEO FOUND of the CEO of Fannie Mae in 2005 explaining the “FAMILY” connection with Democrats”

    And specifically Barack Obama and the Congressional Black Caucus

  2. Too many people are looking to Factcheck for truth and/or facts about the candidates. It’s important that we all realize that they are biased and NOT to be trusted.

    FACTCHECK IS FUNDED BY ANNENBERG!!

    http://www.factcheck.org/about/

  3. wait to ky sees this…

  4. Very revealing video summary. I am glad to see the Republican’s had this foresight, even when the rest of us did not… I’ve sent this to every one I know. THANKS!!!

    Also, WE CANNOT underestimate the dangers of allowing ACORN to get a chunk of this bail out fund. I have written everyone I know, including the McCain/Palin campaign, in hopes of being heard.

    And finally, I am not happy about these “cease and desist” orders coming from the Obama campaign, regarding ads that portray Obama’s anti-gun stance.

    I cannot imagine a world with this Democrat congress and Obama as our President.

  5. Pingback: What Caused the Economis Crisis in America. Best video ever! - The Moscow Expat Forums

  6. Looking past what happened then, we must look at what is happening now.

    http://clancop.wordpress.com/2008/09/30/destroying-the-economy-to-win-votes-nancy-pelosis-speech-and-barack-obamas-rhetoric/

    As Karl Rove said, Obama had the power to get this passed with all those House Democrats under his thumb and yet he did nothing. That isn’t leadership, that is pathetic political position to protect himself.

  7. One of Barney Frank’s long time lovers was Herb Moses, a Fannie Mae executive. Their relationship was revealed in 1998 in the Washington Post, but has not has not been discussed since in the MSM.

  8. What’s new? Fannie and Freddie have been a Democat playground since established by FDR. The Democrats are merely trying to bring to fruition one of the many ‘second bill of rights’ that FDR listed in his January 1944 state of the union address brodcast over national radio; namely ‘The right of families to a decent home.” I doubt FDR was talking about families that had no down payment, had bad credit, had no job and who were illegally in the country, but it buys votes which is hugely important to Democrats.

    It will be interesting to see which of FDR’s other rights they will tackle next.

    Another of FDR’s “second bill of rights” was the right to good health care and to good health. Democrats have defined that to mean Health Insurance paid by the taxpayer.

  9. Best I can remember – Bush was sworn in during the 107th Congress (2001-2003) and served as President through the 110th Congress. The video mentions warnings in 2001 and 2003 (during the 107th and 108th Congressional Sessions). If, as it is reported, the Bush Administration warned about the impending problems, why then was there nothing done to prevent what was inevitable to happen? It is hard to blame Barney Frank for all of this, as he was in the minority party during these times. Following is the makeup of these Congressional Sessions:

    107th
    Senate Republicans – 50 Democrats – 50 Independents – 0 (there was some back and forth here with some changes – but Republicans controlled a majority of the Congressional Session in the Senate)
    House of Reps. Republicans – 221 Democrats – 212 Independents – 2

    108th
    Senate Republicans – 51 Democrats – 48 Independents – 1

    House of Reps. Republicans – 229 Democrats – 205 Independents – 1

    109th
    Senate Republicans – 55 Democrats – 44 Independents – 1

    House of Reps Republicans – 232 Democrats – 202 Independents – 1
    110th
    Senate Republicans – 49 Democrats – 49 Independents – 1

    House of Reps. Republicans – 202 Democrats – 233 Independents – 0

    Now, I will argue once again, that if the President and his administration had some insight into just how bad this crisis could be (as discussed by the Treasury Secretary and other members of his administration) then why was nothing done to make the needed changes to prevent just such a melt down? They clearly had the votes needed to push any legislation through, had the votes to implement any needed oversight, had the votes to put in place tighter controls, etc. It was not until 2007 that the Democrats took control on one of the two houses of Congress – so to try and say the Democrats “prevented” the needed legislation just does not hold up.

    Now this does not mean that members of the Democrat party may have argued and disagreed with the President and members of his administration; but why would that prevent the Bush administration from making the needed changes (as they saw were needed)? I say it was a lack of leadership to get even his own party to listen to him and make the needed changes to prevent what they say was in inevitable disaster.

    Now I love a good debate on these topics as well as anyone – but to try and pin this stuff on Barney Frank and Bill Clinton is almost laughable. If W and his people were that smart and insightful (which they very well may have been) it was his own lack of leadership and the ineffectiveness of the Republican controlled Congressional Sessions to make the needed changes to ensure the country did not fall into this recession (if it truly was preventable).

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