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Amended Rescue Allows Buyout of Other Bad Decisions

by Scott Ott for ScrappleFace · 61 Comments · · Print This Story Print This Story

(2008-10-03) — The revised version of the Bush administration’s financial-sector rescue bill, passed by the Senate this week with hundreds of new pages of ’sweeteners’, faces almost certain approval in the House today thanks to an amendment that would allow the federal government to shield Americans from the consequences of other bad decisions.

The legislation, as it emerged from the Senate, currently protects

  • foolish homeowners,
  • the predatory lenders who extended them credit,
  • the irresponsible Government Sponsored Enterprises (GSE) who backed those loans,
  • the regulators who failed to crack down on law breakers, and
  • the politically-correct Congressmen who mandated risky loans to achieve ‘affordable housing’ for racial minorities.

The amended version, hitting the House floor today, also puts the U.S. taxpayer on the hook for guarding fellow citizens from the consequences of other decisions that lead to unpleasant results.

“It’s like a giant morning-after pill,” said one House Republican who opposed the initial bill but plans to support the new package. “From now on, when you do something stupid, you just pop the pill, purge and flush…the federal government takes care of the rest.”

“Americans have the right to the pursuit of happiness,” the unnamed lawmaker said, “but the Founders didn’t go far enough. We don’t just want to pursue happiness, we want a guarantee that we’ll catch it and that we won’t get hurt if we stumble, or we pursue it in the wrong direction.”

The 7,658-page amended bill includes tax-funded bailouts for the following…

  • College students and others who say, “Just one more drink”
  • Young men who tell their girlfriends, “Of course I love you”
  • Young women who believe it when their boyfriends say, “Of course I love you”
  • Husbands who say, “My wife won’t mind”
  • Kids who say, “My parents will never know”
  • Politicians who say “If you vote for me, I promise…”

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Tags: Business  · Politics · U.S. News

61 responses so far ↓

  • 1 boberinyetagain // Oct 3, 2008 at 8:53 am

    All good ideas except perhaps that last one…

    Very funny Scott

  • 2 wildhowd // Oct 3, 2008 at 8:56 am

    yes but it is the last one we need the most protection from

  • 3 boberinyetagain // Oct 3, 2008 at 9:12 am

    No argument there…

  • 4 danimal // Oct 3, 2008 at 9:47 am

    I’d like to submit an amendment to this bill.
    Investigate, indict, and imprison all of the Fannie Bandits, Barney Frank being one of notable distinction.

  • 5 boberinyetagain // Oct 3, 2008 at 9:52 am

    heh..heh, heh…he said “Fannie”…

  • 6 Shelly // Oct 3, 2008 at 10:07 am

    How about protection from those already elected? The Dems took millions from Fannie and Freddie, while assuring everyone that these GSE’s were fine (”riskless” to quote Raines, now an Obama advisor,) and are now the cause of this financial mess we’re in? Can we flush them?

  • 7 Shelly // Oct 3, 2008 at 10:28 am

    Here’s another category that continues to need rescuing:

    http://www.washingtontimes.com/news/2008/oct/03/fbi-raids-obama-friends-home/print/

  • 8 gafisher // Oct 3, 2008 at 11:16 am

    The re-revised Bill needs to include buyouts of worthless assets. I’ve got an 15 year old car I’d let Congress have for, uh, $80,000 …

  • 9 Mack // Oct 3, 2008 at 11:26 am

    I think of the MSM and apply this lesson from the Bible. Even in modern times, these people who hide the truth about their preferred candidates and slander others to promote a liberal agenda are reaping the rewards of their stupidity.

    I do mean stupidity. Ignorance is when people do not know any better or do not know the truth. The MSM can not help but know the truth yet choose to ignore it for their agenda.

    EZEKIEL CHAPTER 33

    2 Son of man, speak to the children of thy people, and say unto them, When I bring the sword upon a land, if the people of the land take a man of their coasts, and set him for their watchman:
    3 If when he seeth the sword come upon the land, he blow the trumpet, and warn the people;
    4 Then whosoever heareth the sound of the trumpet, and taketh not warning; if the sword come, and take him away, his blood shall be upon his bown head.
    5 He heard the sound of the trumpet, and took not warning; his blood shall be upon him. But he that taketh warning shall deliver his soul.
    6 But if the watchman see the sword come, and blow not the trumpet, and the people be not warned; if the sword come, and take any person from among them, he is taken away in his iniquity; but his blood will I require at the watchman’s hand.
    7 So thou, O son of man, I have set thee a watchman unto the house of Israel; therefore thou shalt hear the word at my mouth, and warn them from me.
    8 When I say unto the wicked, O wicked man, thou shalt surely die; if thou dost not speak to warn the wicked from his way, that wicked man shall die in his iniquity; but his blood will I require at thine hand.
    9 Nevertheless, if thou warn the wicked of his way to turn from it; if he do not turn from his way, he shall die in his iniquity; but thou hast delivered thy soul.

  • 10 RepublicanAttackMachine // Oct 3, 2008 at 11:35 am

    Does this bill also protect the “lefties” that have “bought” into O’Bama’s lies and rhetoric?

    I certainly hope not! ;-)

    danimal re #4:

    Speaking of Barney Frank, he sounded a lot like O’Bama when 0n O’Reilly, NEVER admit you are wrong, EVEN IF, you are in charge of the OVERSIGHT COMMITTEE!

    This guy makes me sick to even watch or listen to him. I have a feeling he would make friends in prison very easily, although he will never go there. He IS a Dimocrat and they NEVER get convicted, only promoted to another committee.

  • 11 boberinyetagain // Oct 3, 2008 at 11:38 am

    I’d say that the “hiding of truth” as well as the “slanderng” is flowing pretty freely both ways (as always) in this process so…I guess we are all screwed!

  • 12 JamesonLewis3rd // Oct 3, 2008 at 11:43 am

    Bill O’Reilly tore Barney Frank a new one [figuratively] last night.

    The transcript is here, if you’re interested. Also in the accompanying article by Noel Sheppard is this suggestion:

    Let’s hope this is the beginning of light finally being shed on the disgraceful behavior of Democrats going back several administrations.

    From this point forward, I would like to see press members specifically ask any Democrat blaming this problem on President Bush to name the piece of legislation signed into law since he was first inaugurated which led to this crisis.

    Anything less is journalistic malpractice, and I imagine I speak for most Americans when I say enough is enough.

  • 13 boberinyetagain // Oct 3, 2008 at 11:53 am

    JL3, how about addressing the fact that the “pubs” did nothing to prevent this, introduced no bill, suggest no regulations that could have headed off this mess. Is 8 years not enough to have at least suggested something or is it impossible to change anything that happened before it was “George’s watch”.
    Maybe y’all are correct and the dems are/were totally responsible for the legislation that allowed this mess but it would seem that if the pubs thought there was an issue then 8 years might have been enough time to actually attempt to address it…

  • 14 boberinyetagain // Oct 3, 2008 at 11:54 am

    Go Ralph!

  • 15 JamesonLewis3rd // Oct 3, 2008 at 12:09 pm

    Barney Frank’s ex-lover, Herb Moses (they lived together for 10 years), was an executive at Fannie Mae. Barney has received $40,000 in donations over the years from Fannie Mae and Freddie Mac.

    And don’t forget Barney’s thriving basement homosexual bordello of which he claims to have been ignorant.
    ~~~~~
    Amazingly, the list of lies that Biden told during the debate keeps getting longer, but I think the most notable is the rant he went off on about Hezballa—a complete and total fabrication.

  • 16 JamesonLewis3rd // Oct 3, 2008 at 12:17 pm

    The “fact” that Republicans did nothing to attempt to reign in the Democrat-driven theft of American funds does not exist.

  • 17 Ms RightWing, Ink // Oct 3, 2008 at 12:23 pm

    But what is freedom? Rightly understood, a universal license to be good.

    Poet Hartley Coleridge

  • 18 boberinyetagain // Oct 3, 2008 at 12:24 pm

    That “answer” makes no sense…

    On the topic if debate, a rhetorical question… Has anyone/anytime/ever been swayed in any way, large or small, by a debate? I’m talking jr. high debating teams, folks up for town council/sheriff/dog catcher or president of the United States (and anywhere in between).
    Has anyone here ever even had their position (any position at all) going into a debate swayed in even the tiniest of ways?

  • 19 beekabok2 // Oct 3, 2008 at 1:23 pm

    If it were only true that it was a giant morning after pill that would abort the parts of the deformed fetus that is the people responsable for the mess, than I would be willing to take it.

  • 20 Fred Sinclair // Oct 3, 2008 at 1:40 pm

    From The Los Angeles Times - the last few funny lines at the bottom of Mary McNamara’s article on last night’s Palin/Biden debate.

    [In the end, perhaps the most memorable aspect of the debate was the look of confusion on the face of the network commentators after the debate they had spent days rattling on about failed to materialize.

    "I guess we'll just have to wait to hear what the viewers thought," said MSNBC's Chris Matthews. And that really has to be a first.]

    mary.mcnamara@ latimes.com

  • 21 Mack // Oct 3, 2008 at 1:43 pm

    boberinyetagain // Oct 3, 2008 at 11:38 am

    If the slander and lies flow both ways, why hasn’t the MSM bothered to pull the video that talk radio has of all the democrats stonewalling any and all reform of Fannie Mae and Freddie Mac? Why have they not bothered to even go to Chicago to look at Obama’s record? Why?

    Because it doesn’t go both ways and you know it. The MSM is and always has been in the tank for any and all liberal causes. This means dear boberin that in making that statement you are either stupid or you think we are. Which is it?

  • 22 Mack // Oct 3, 2008 at 1:45 pm

    boberinyetagain

    McCain did put out a bill, it died in committie

  • 23 gafisher // Oct 3, 2008 at 2:11 pm

    Bober Re#18: That’s the best you can do for a concession speech? “Debates don’t mean anything anyway?”

    “A FAMISHED FOX saw some clusters of ripe black grapes hanging from a trellised vine. She resorted to all her tricks to get at them, but wearied herself in vain, for she could not reach them. At last she turned away, hiding her disappointment and saying: “The Grapes are sour, and not ripe as I thought.”
    ……………………………………………………… Aesop

  • 24 boberinyetagain // Oct 3, 2008 at 2:17 pm

    In 1982, Ronald Reagan offered this heartening bit of wisdom upon signing the Garn-St.Germain Act, which essentially rewrote the book on S&L (savings and loans) regulations across the land. Reagan called Garn-St.Germain “the most important legislation for financial institutions in 50 years.”
    In the late 1980s, Bush Sr. chaired the Presidential Task Force on Deregulation, and so began the grand era of government-approved robbery. Bush Sr. and the task force “set the tone” for massive banking deregulation. These deregulators opposed everything from regulation of lead in gasoline to mandating nonflammable pajamas for kids. They couldn’t bear to give up millions of dollars in profits just so Americans could live and breath in greater safety.
    John McCain praises banking deregulation and promises to do the same to health care, and very recently wrote an article where he took credit for the last decade of banking deregulation — the same deregulation that caused the very economic crisis he’s now blaming the “Washington establishment” for causing.

    He takes credit for the deregulation he’s pledging to fix! Of course he wrote the article before the recent meltdown exposed the extent of the financial woes facing the American people, which explains his flip-flop — but look at how blatantly and easily John McCain spins and lies to the American public.

    One minute he boasts proudly of having deregulated banking, and the next minute he’s promising to put an end to the very practices he’s just finished bragging about!

  • 25 boberinyetagain // Oct 3, 2008 at 2:27 pm

    October 26, 2005: House of Representatives passed regulation reforming the GSE’s. The bill passed the House 331-90 (Republicans: 209-15; Democrats: 122-74), and would have given the new regulator broad authority over setting capital requirements and limiting portfolio size. Senate Democrats picked that bill up and offered it, but the Administration opposed that legislation. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation “a one-finger salute.”
    August 6, 2007: At a White House morning press briefing, in response to a question whether the housing market is correcting or in crisis, President Bush says that the economy is stable: “[I]t looks we’re headed for a soft landing.” [Remarks By President Bush, 8/9/07]
    November 15, 2007: Senator Reid asked unanimous consent to pass the FHA Modernization Act, but Republicans objected. [Congressional Record, 11/15/08]
    February 14, 2008: Senate Democrats announce The Foreclosure Prevention Act of 2008 which would keep families facing foreclosure in their homes, help other families avoid foreclosures in the future, and help communities already harmed by foreclosure to recover. [HR 3221, 2008]

    February 26, 2008: After Senate Democrats introduce The Foreclosure Prevention Act, White House issues a veto threat and Senate Republicans block consideration of the bill. [Statement of Administration Policy, 2/26/08; Senate Vote #35, HR 3221]
    February 28, 2008: Senate Republicans blocked consideration of the Foreclosure Prevention Act. The bill provided $10 billion in bond authority to refinance subprime loans, $4 billion in grants for the rehabilitation of foreclosed homes and tax relief for struggling homebuilders. The bill also included a provision that would allow bankruptcy courts to modify the terms of a mortgage on a primary residence that could have helped 600,000 families stay in their homes. [Senate Vote #35, HR 3221; CRS Summary; Finance Committee Press Release, 2/15/08; Center for Responsible Lending]
    April 1, 2008: Republicans Stall Housing Bill. Republicans force cloture vote on motion to proceed to energy bill. [Senate Vote 86, HR 3221, 4/1/08]
    June 19, 2008: After measure is reported by the Senate banking committee, White House issues a veto threat against the Federal Housing Finance Regulatory Reform Act of 2008, which includes GSEs reform, on the grounds that the bill provides $4 billion in grants to communities struggling with foreclosed properties. [Statement of Administration Policy, 1/19/08]
    June 25, 2008: 79 Senators vote to pass the bipartisan housing bill while some Republican Senators announce they would use procedural maneuvers to delay final passage until after the July 4th recess. “Sens. Jim DeMint and John Ensign both said they were willing to run out the clock on a major housing bill.’I don’t intend to allow any unanimous consents to shorten the debate time on the housing bill,’ DeMint said.” [Roll Call, 6/26/08]
    July 10, 2008: Several Republican Senators force another procedural vote in order to delay passage of the housing bill. (Senate Vote #170, HR 3221, 7/10/08) “By a vote of 84-12 Thursday, the Senate cleared away the last procedural hurdle hindering the measure in that chamber, but lingering objections by a GOP critic pushed off passage until Friday.” [AP, 7/11/08]

    July 11, 2008: White House spokeswoman Dana Perino renews veto threat against the housing bill. [AP, 7/11/08]

    Damned facts

  • 26 Shelly // Oct 3, 2008 at 3:20 pm

    Debates don’t change minds? How did Reagan go from underdog to a 49 state landslide?

  • 27 Shelly // Oct 3, 2008 at 3:24 pm

    Oh, I forgot. The only test of truth is if boberin says it it’s true, and if anyone else does its not. Those people in Frank Luntz’s group last night who said the debate changed their vote must not have heard this “truth” yet.

  • 28 boberinyetagain // Oct 3, 2008 at 3:53 pm

    Now you’re getting it. That wasn’t so hard, was it?

  • 29 J. Cougar Melancholy // Oct 3, 2008 at 4:09 pm

    Okay,
    I calls ‘em as I sees ‘em and Sarracuda opened up a serious can of whoopkeister on Biden! I hate that! The late night hosts are gonna have a heck of a time pulling material from her performance. At the very least she’s achieved folk hero status. You’ve got one heck of a fireball up for VP! Can someone please explain my love/hate for this woman? Because I just don’t understand it.

    I’m lost, alone, confused. Somebody hold me.

    ‘Lil pink padded rooms, y’all
    Cougarlicious

  • 30 boberinyetagain // Oct 3, 2008 at 4:22 pm

    There there, it’ll be ok, really

  • 31 Darthmeister // Oct 3, 2008 at 4:46 pm

    More Biden lies and hallucinations from last night’s debate.

    The truth is the truth despite the source.

    One of the biggest lies Democrats have gotten away with telling Americans as long as I can remember is when they say they don’t want to raise taxes on the middle class (anyone else get the impression the Donks merely see the middle class as another victim group?) yet they only want to “tax the rich” and “tax big business”.

    What they don’t and won’t admit to is when government “goes after big business to make them pay their fair share” (or “tax windfall profits” blah, blah, blah) they are indeed taxing all Americans vis a vis a proxy tax.

    Who in the world is going to pay for the extra cost of a tax on “big business” except the consumer? Notice that any tax legislation that the Donks want to pass to soak big business never includes the clause that business and corporations can’t pass that tax along to the consumers by raising the cost of their products or services. So in the final analysis, any tax levied against “evil multi-national corporations” or “Big Oil” or “big business” ends up being passed on to the consumer in the form of higher costs. CONSUMERS ALWAYS PAY THE TAXES that Demoncrats want to levy.

    Now why is it that the dimwit Republican leadership can’t figure this out and throw this reality right back in the face of the Donks whenever the libs pretend to be so concerned about “the struggling middle class” while spewing their rhetoric about raising taxes on “the rich.” And if the middle class is “struggling”, how about the truly poor?

    What the Republicans must do is make this point in spades and accuse Democrats of knowing this is the way things work which proves liberal elitists really don’t care what effect “soaking the rich” or “soaking big business” has on poor and middle class consumers who end up paying for those extra taxes being levied on “big business”.

    The Donks can only get away with this because they cleverly couch their “argument” in class warfare rhetoric but Republicans and conservatives must tear down that fig leaf once and for all by showing raising taxes only create a drag on an economy like ours and it only bloats welfare government and encourages wasteful spending.

  • 32 Darthmeister // Oct 3, 2008 at 5:01 pm

    J. Cougar,

    Saracuda did open up a can of whoopkeister yet Biden still looked nominally competent … and somewhat Asian. What’s with all the pancake on the man? It looked like he had more makeup on than Sarah, but without the blush.

    However, in the grand scheme of things, and after nearly a month of unremitting lies about Sarah Palin - there have been something like 91 lies levied by liberal Democrats and liberal bloggers against her - many swing voters were naively influenced by this tsunami of lies and they are in the process of being blinded by the messianic light of Obama’s teleprompter.

    Also, the liberal media and Democrat punditry have pretty much spun it that anyone who votes against Barack Obama is a closet racist. What self-respecting, swing voter wants to be considered a closet racist? I think it’s pretty apparent that the liberal media is indeed “in the tank” for Obama and has been since it came down to a race between him and sHrillary. It takes a very special, informed American to be able to resist the media’s siren song and to see Obama for the unaccomplished, highly partisan (he voted 96% of the time down the party line here in Illinois), inexperienced empty suit that he really is. I guess Obama wants to “change” America into the great success story we have here in the People’s Republic of Illinois [sarcasm mode: off]. Never forget, the only politics he knows is the corrupt Chicago Democratic Machine and that is probably what his default mode will be if he actually gains the White House. A sobering thought for those of us here in the PRoI who see how a corrupt Democratic Party works.

  • 33 Maggie // Oct 3, 2008 at 5:45 pm

    J Cougar….re#20

    Does you wife know?

  • 34 camojack // Oct 3, 2008 at 6:04 pm

    I think we should all learn to live with our decisions…and the consequences thereof.

  • 35 camojack // Oct 3, 2008 at 6:25 pm

    A New York Times article from September of 2003 reported on the efforts of the Bush administration to create a new regulatory agency to assume oversight of those mortgage lenders:

    “The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.”

    “Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.”

    “The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.”

    “The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac — which together have issued more than $1.5 trillion in outstanding debt — is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.”

    The following paragraphs are about Congressional resistance to the Bush administration’s regulatory proposal:

    “Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.”

    “These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

    You can read the entire article HERE

  • 36 Darthmeister // Oct 3, 2008 at 7:43 pm

    More excellent commentary and analysis:

    The enigma of Obama

    and

    Romanticizing Obama

  • 37 Darthmeister // Oct 3, 2008 at 8:24 pm

    You gotta give the Donks credit, they can bald-face lie with a straight face better than any Republican. Here's video evidence of Senator Biden lying his keister off …

    about his support for clean coal technology here in America

    about Obama's earlier promise to meet unconditionally with dictators

    Obama has also lied about his willingness to meet unconditionally with Syria/Iran/North Korea/Chavez/Castro et al. Of course these two lying snakes (Obama and Biden) would try to slime their way out of this video evidence by saying Obama was only responding to a question posed to him using the word "unconditionally" but he never said it himself. But after the question was posed about unconditionally meeting with these despots, Obama unequivocally answered, "I would … blah, blah, blah."

    What's amazing about the ABC coverage of the VP debate is they had several "factcheckers" (who were probably there only to "factcheck" Governor Palin) and none of them caught these two shameless, blantant lies and three other lies engaged in by Senator Biden.

    More proof the lamestream media is "in the tank" for Obama-Biden which we know is both unprofessional and dangerous to the democratic process. Vast segments of the national media is proving itself to be little more than the propaganda arm of the Democratic Party given how they viciously attack Republicans/conservatives yet engage in clear damage control for the likes of their messiah Obama and the rest of the lying liberal demagogues. It's not only how liberal journalists and editors report "the news" but also what they don't report which makes them propagandists of the highest order. Like I've noted before, the fourth estate is clearly acting like a fifth column in American politics. Liberal journalists must think themselves the fourth branch of government.

  • 38 danimal // Oct 3, 2008 at 9:14 pm

    “A lie gets halfway around the world before the truth has a chance to get its pants on.”

    - Winston Churchill

  • 39 gafisher // Oct 3, 2008 at 10:37 pm

    OT but a strong recommendation. My wife and I just returned from a showing of David Zucker’s new film “An American Carol” and enjoyed it very much.

    The film follows the same general outline as Zucker’s previous comedies, such as the “Airplane” films, and as expected makes use of some slapstick and visual gags as well as occasional language which would not be permitted here (though most of it could be found in Prime Time TV). Nevertheless, the film is unswervingly patriotic.

    Using comedy to examine a serious topic, in this case the very real danger the loonie left poses to freedom, is difficult to do well, but Zucker and a fine cast deal with it very well, leading the audience through a broad range of emotions dominated by laughter but including tears of pride at several points, and sober reflection during the brief but powerful “George Washington” scene.

    In Hollywood, opening weekend is the chief indicator of success. If “An American Carol” does well over the next few days, more films will be made which celebrate this nation; most will not be comedies. If “An American Carol” does poorly during opening weekend, even if it does very well later, it is likely that unashamedly patriotic films will be considered a niche and their market — us — safe and perhaps even wise to ignore. If you think you might like this film at all, try to see it this weekend.

  • 40 RepublicanAttackMachine // Oct 3, 2008 at 10:39 pm

    Barney, (I love you, you love me), Frank denying any responsibility in this finalcial fiasco, reminds me a LOT of when Saddam was on trial, or maybe O.J.? I can’t decide.

    Wait, maybe it reminds me of O’Bama refusing to say he was wrong about ANYTHING!

    Then again, maybe it reminds me of Bill (Bubba) Clinton, saying, “I did NOT have sex with that woman!”

    OK, it just seems familiar! :lol:

  • 41 RepublicanAttackMachine // Oct 3, 2008 at 10:49 pm

    danimal: With all the key words in that Churchill quote, it seems he may have had a “vision” of Bill Clinton! “Lie”, get his pants on”, “the truth”.

    Maybe Winston had a little Nostradamus in him?

  • 42 Darthmeister // Oct 4, 2008 at 12:39 am

    Oh, and show another example of how the left-leaning news media refuses to report the whole news about those most responsible for the Fannie Mae meltdown, has anyone else heard that dear ol’ Barney Fwank had a Fannie buddy? How is it the liberal media can practically tell us the day when Sarah Palin’s 17 year old daughter was with child yet never, ever report that Mr. Fwank had a clear conflict of interest when involved with legislation that would deregulate Fannie Mae and Freddie Mac?

    Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s.

    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 homosexual 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.

    “It’s absolutely a conflict,” said Dan Gainor, vice president of the Business & Media Institute. “He was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive. How is that not germane?”

    How indeed. If Mr. Fwank had been a Republican and engaged in a “relationship” which involved such a clear conflict of interest which eventually led to ripping off the American people nearly two trillion dollars in investment assets, he would have been relentlessly excoriated by the media and hounded out of the U.S. Congress by his outraged Republican colleagues. But not so the Donks. No wonder Mr. Fwank has been all of the media the last two weeks trying to erect a smoke-screen of “concern” for the market meltdown. Disgusting little pimp.

  • 43 danimal // Oct 4, 2008 at 7:16 am

    The collapse and subsequent taxpayer bailout of the Credit Card companies has been postponed until after the election. Ground zero for that mess will be Wilmington, Delaware and we don’t want that sort of turmoil in Joe Biden’s district [yet]. Plus, we need to give the Delaware Consumer Debt industry time to unload their trucks full of campaign cash and get away.

    So run out now and get that sweet 60″ plasma. We’ll get your neighbors to pay it off for you.

  • 44 danimal // Oct 4, 2008 at 7:49 am

    re42:

    “Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains …”

  • 45 Ms RightWing, Ink // Oct 4, 2008 at 8:59 am

    Don’t you just love fact check. Next time you need a quick, but decisive answer to big oil and McCain-here it is.

    I would often stop in my tracks when I heard the 40 billion dollars being thrown around during the debate. It is another Democrat bumper sticker bomb

    I think Republican e,r Conservative street activists should understand what the liberals are talking about.

    “nuff said.

    http://www.factcheck.org/elections-2008/obamas_overstatement.html

  • 46 Hawkeye // Oct 4, 2008 at 9:26 am

    Darth #36,

    Great links! Especially liked the one about Obama exhibiting the symptoms of NPD (Narcissistic Personality Disorder). Excellent observations. Thanks.

  • 47 JamesonLewis3rd // Oct 4, 2008 at 9:49 am

    Yes. The Leftists are going berserk because Biden demonstrated so well the diabolically schizophrenic nature of the BO party.

    Therefore, using the logic of the demented, the traitorous, depraved and obsequious trolls ecstatically follow his lead through their parallel netherworld of lies, filth, crime and hate in a vain attempt to avoid the Truth.

  • 48 gafisher // Oct 4, 2008 at 10:04 am

    The Debate “Fact Checkers” missed Gov. Palin’s mispronunciation of General McClellan’s name, but since Joe Biden also missed it — twice — it’s probably good for him it slipped by.

    For your amusement, here’s my new Campaign Sticker.

  • 49 Darthmeister // Oct 4, 2008 at 10:35 am

    Once again a conservative counterpart is shown to give more money to charities than some blowhard “compassionate” liberal who defines his/her compassion by how much of your tax dollars they can throw down the black hole of the federal government welfare state.

    Alaska Gov. Sarah Palin made considerably less money than rival Sen. Joe Biden, but the Palin family gave more to charity in the last two years than Biden has in the last eight combined, according to Palin’s tax records released Friday afternoon.

    Palin, the running mate of presidential candidate Sen. John McCain (R-Ariz.), and her husband Todd reported meager earnings from 2006 and 2007, at least by presidential-politics standards.

    In 2006, the Palins paid $11,944 in taxes on $127,869 in income. In 2007, they paid $24,738 on $166,080.

    But in 2006, they donated $4,880 to charity, and in 2007, they donated $3,325.

    By contrast, Biden (D-Del.), Democratic presidential candidate Barack Obama’s running mate, has donated a total of $3,690 since 1998 despite his higher Senate salary, according to an analysis posted by National Review.

    $3,325 in eight years! So it ain’t so Joe! My wife and I give that much to charity in 18 months and our combined incomes are less than a third of what Joe Biden makes. He certainly isn’t giving “the widow’s mite” by a looooooong shot. Freakin’ money grubbing Donk hypocrite. Like Bill Clinton, he probably deducts his used underwear on the charitable donations line of his 1040 income tax form.

    However, I am a little disappointed that the Palins weren’t giving a little closer to 10% … even of their net income. I think the average American gives something close to 4% of the income - that needs to improve, particularly among libtards if they are going to have any credibility about how “compassionate” they are. And please, libs, don’t give me any of this “my time is worth …” weasel words. We all should be donating time to worthy philanthropic works AND giving what we can of our hard-earned money. At least conservatives aren’t running around using the existence of the government welfare state or embracing political policies which empower government to levy even higher levels of confiscatory taxes as proof of their “compassion” for the poor. The forced “charity” of government is IMMORAL and coercive and anathema to the founding principles of this nation.

  • 50 JamesonLewis3rd // Oct 4, 2008 at 10:55 am

    Although they claimed to be wise, they became fools…..~~Romans 1:22
    ~~~~~
    On a lighter note:

    There are many citizens of this country who do not, on personal principle, deduct all of their charitable contributions; preferring that certain transactions (cash in the collection plate, for example, which could be 20% for all I know) be between themselves and Almighty God. So, I’m kind of leery of using that particular statistic as a gauge of character but, I did glom the earnings of someone with infamous hair plugs and botulism squirted into his very forehead with interest.

    What if, after Biden is sworn in, he needs an emergency frontal lobotomy!?!

  • 51 RepublicanAttackMachine // Oct 4, 2008 at 11:25 am

    In comment #39, when I invoked the name of “O.J.”, I hope I did not cause this:

    http://news.aol.com/article/simpson-found-guilty-on-all-charges/199173?icid=100214839×1210363262x1200672057

    Ok, so I told a “fib”, I AM thinking about getting into politics and I am just “practicing”! ;-)

  • 52 RepublicanAttackMachine // Oct 4, 2008 at 11:35 am

    Darth: re #49, I thought the same thing about Sarah not giving at LEAST 10%, however God wants us to “GIVE” 10%, (or more), in other ways too, including our time to HIM, and our “neighbors”

    The bottom line is, we ALL have to test the LORD and see that HE is good. All Christians should know that, we CANNOT out give HIM, and that goes for even those who are SORELY misguilded, like LIBS!

    Even THEY, can be blessed by this truth from GOD!!! It works for ANYONE, it is just MOST of them do NOT believe ANY truths in HIS WORD, and therefore do NOT use it.

  • 53 Fred Sinclair // Oct 4, 2008 at 2:51 pm

    R.A.M. #52 - In his second letter to the Christians in Corinth, the apostle spoke of giving -

    2Cor. 9:7 Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver.

    I have actually heard people use this instruction as their excuse for not tithing. I’ve tried to explain that “give” implies a “gift” like giving a present at a holiday, a wedding gift, etc.

    A tithe is not a gift it is a debt. The payment of a debt is not optional. If you don’t make your mortgage payment, you are robbing the lender and there are consequences . God’s Holy Spirit moved his prophet Malachi to write -

    Mal. 3:8 Will a man rob God? Yet ye have robbed me. But ye say, Wherein have we robbed thee? In tithes and offerings.

    I don’t rob someone by not giving them a gift.

    Tithes and offerings are mandated. Gifts are optional.

    When I was living on the Island of Crete. I learned to speak a bit of Greek. (or Helenica) Interestingly enough the word translated “cheerful” in 2 Corinthians is the word everyone else (outside the era of King James) translates “hilarious”. Gk: Hilaros

    So “…..for God loveth a cheerful giver.” could (and I think) should” read “…..for God loveth a hilarious giver.”

  • 54 Fred Sinclair // Oct 4, 2008 at 4:47 pm

    The American Thinker has, right now a piece by James Lewis that’s a hoot! “Out of the West Comes an Alaska Cowgirl”.

    A short excerpt:

    It’s Frontier Woman vs. Metrosexual Chic! Hold your breath — who is going to win this clash of the archetypes? This is not just a matter of style — Frontier Woman triggers a host of very real American associations — self-reliance, strong family bonds, courage in the face of danger, moral strength, independent thinking.

    On the other side, Metro Chic has its own hold on our Effete Elites. It all comes down to the Western Enlightenment versus Metro Socialism……

    …..Sarah Palin is a mythic figure out of the American imagination. That why she scares the Effetes and Corruptocrats. She’s John Wayne and Annie Oakley all rolled into one. Governor Palin is America’s Everywoman, who faced and defeated the Corruptocrats in Alaska. …..

    …..And that big cattle baron on the hill? He’s sneakily trying to undermine and destroy the Girl Deputy. He controls the newspapers and spreads vicious rumors, just his usual way of doing business. That’s the meaning of the Credit “Crisis” and the packed hog sausage Congress just made, supposedly to save us from the Fraud Crisis. …..

    …..Would you buy a used buggy whip from these guys? From Barack Obama’s “home mortgage advisor” Jim Johnson? From Barney Frank’s boyfriend at Fannie?………..

  • 55 Fred Sinclair // Oct 4, 2008 at 4:49 pm

    (:-0)

  • 56 Darthmeister // Oct 4, 2008 at 6:04 pm

    Anyone else notice the whackjobs walking around with the Che Obama sweats?

    When I walked out of the public library this morning an old hippie couple was walking toward me with Che Obama imperiously glaring at me from their chest. I couldn’t help smiling and then politely commented, “Oh, I guess you finally found your messiah?” All I got was a hateful glare.

    Hippies who never grew up really don’t have much of a sense of humor nowadays. I guess it’s from all that peaceful hate they’ve harbored the last seven years.

  • 57 mig // Oct 4, 2008 at 6:44 pm

    This bailout bill is the pits. They should have put a clause in there that said there could be absolutley no campaign contributions whatsoever ! We didn’t bail out CEOs’ like Obamam keeps singing, we bailed out those dern congressmen in DC!!!

  • 58 RepublicanAttackMachine // Oct 4, 2008 at 10:15 pm

    Fred re#53, Great point Fred. I never thought of that. Glad you brought it to my attention.

    I feel EVERYTHING I have is GOD’s. I only ask HIM to show me where HE wants me to direct my tithes and other contributions.

    I have given to The Bible League for about ten years. I do not think a Christian can go wrong donating money for GOD’s WORD to be given to people who would possibly not hear it otherwise.

    I have found The Bible League to be a VERY honest organization who use almost every dollar for Bibles and very little on “other expenses”, (fund raising, etc).

    They can be found at: http://www.bibleleague.org/about/index.php

  • 59 gafisher // Oct 5, 2008 at 6:40 am

    JL3 Re#50: “What if, after Biden is sworn in, he needs an emergency frontal lobotomy!?!

    Drill, baby, drill! No citizen should be denied proper health care.

    wv - Bank’s leaves - The near-trillion fake dollars they print for the “bailout” will be worth about as much as the fallen foliage in my back yard.

  • 60 mig // Oct 5, 2008 at 8:37 am

    In reference to Obama’s narcissism, Charles Krauthammer asks, “[H]as there ever been a presidential nominee with a wider gap between his estimation of himself and the sum total of his lifetime achievements?”

    heh heh heh

  • 61 mig // Oct 5, 2008 at 9:12 am

    New Agency Proposed to Oversee Freddie Mac and Fannie Mae By STEPHEN LABATON

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