H.T. American Thinker. This pretty much puts the blame where it belongs. Pay close attention to the remarks of congressman Shays, who points out how these quasi-public companies used lobby money and influence to manipulate the room. Also keep in mind that on the last bailout discussion, there was talk of boosting ACORN with a large chunk of our hard earned tax dollars. This would create, in essence, a super liberal moonbat version of the FMs, with enormous funds and power to control our lives through government graft.
UPDATE:
chris c. offers some data(link) showing the actual number of cookies, taken from the jar, by these wonderful solons:
RT offers more video links and commentary. The more the merrier RT.
This is corruption of the American body politic at its absolute worst. Incredible.
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7 comments:
I'm speechless. How are these lawmakers not under investigation? They have contributed to the mess, allowed for the corruption.
I wish I was independently wealthy so that I could just sit and watch those committee meetings all day, just to sit and write about the corruption and the ease with which they do it.
I'm p*ss'd.
Gee, wouldn't it be nice if we actually had a media that spent its time doing in-depth reporting on stuff like this rather than reporting about Lindsey Lohan's sexual preferences and John McCain's number of legally owned homes?
I'm surprised Shays was so vocal since he took in nearly $2.9 million from financial companies. Same with a few others who got more money they they should have given their stated position in the video. Maybe they were just playing the antagonist?
Lacy Clay took in a measly $290k. Meeks just over $1 million. Ed Royce, $2.3 million. Frank, $2.4 million.
Here's the link to the entire list of the pols on the finance/bank committees and the contributions they got from the financial industry. Lot of them in this video are on the list.
http://www.usatoday.com/news/politics/election2008/2008-09-24-lobbying_N.htm
Maxine Waters calling 100% loans innovative? It amazes me these people can say this stuff with a straight face.
RT is 100% right. This is pure corruption and the liberals used the liberal financial system to push their cause of affordable housing for everyone.
What I don't get is the best way to have affordable housing is create a company that will build them.
I'm not saying the govt do this, I'm saying that some entrepeneur should create a start-up company.
The problem isn't the loans it is a supply issue. And if there is a lot more cheaper housing then we can give loans to people with lower incomes. They won't default because it will be within their income level and they will have a home they own.
This is how you get more people owning homes.
rt - It is a tired and overused cliche, but the the foxes are guarding the hen house. The fourth estate is also infected by the same entitlement ideology that is being used and abused to garner political power. In some ways they are worse. Many of them actually believe the crap that left wing elites peddle for politics.
chris c. -
Is USA Today lumping all financial sector contributions together? I am so distrustful of MSM sources and their B.S. that I have become a total cynic. I want to see the Fannie and Freddie breakout, specifically in the committee meeting years. I don't doubt that ALL of them have a slice of this $hit sandwich.
I agree completely on the private financing of home ownership. The government cannot and will not be a frugal consumer or provider. It just is not that kind of creature.
The sad thing is, they have actually hurt people, of limited means, who struggled the right way, to buy a home. When the illegal alien Fannie/Freddie/ACORN house flipper moves in to the neighborhood, they bounce mortages back and forth, artificially pumping up the 'value' of the homes in the neighborhood. The tax assessor rolls in, re-values all of the houses, and now neighbors who are not engaging in this fraud, get whacked with a big real estate tax bill. The town then gets used to this level of income. When the market deflates, as is happening now, the mortagee walks away, leaving a mess behind.
Here in MA we have another ugly socialist law called 40B, which is intended to provide affordable housing. In typical liberal fashion, those that crafted the law didn't bother to consider the consequences. Now there are developers, who are donating big wads to state politicians, walking all over towns, overriding local ordinances, to force big social projects into small neighborhoods.
I just do not know what to say. People grow fat on prosperity of freedom and figure out ways to bring it all down, out of guilt and apathy.
There is an affordable housing deadline looming for NJ. For example, the town where I am employed needs to build a bunch of affordable housing. The taxes on the property there are no lower than $5,000 and go up to $10,000 or more per year. Rent an apartment there? $1000-$2000+ per month.
How are they going to place affordable housing in that town?
Here in central Oregon we suffer from the same fate as so much of the rest of the country. We live south of the resorts in an "affordable" area. We bought below market value and then the developers moved in and built a bunch of homes that didn't sell. They had to drop their prices which dropped our home's value.
People started losing homes they never should have been allowed to buy, towns losing out on revenue, services getting cut, businesses slumping and I get less work to pay for my under valued home. And now I have the privilege of being patriotic by paying higher taxes to "solve" the crisis.
What did I do wrong? It must be my fault, right? Isn't this the same cycle of abuse we hear about in battered women?
I can't leave them, they love me. I can change them.
It just makes me ill. The American people collectively will not wake up. If 50% vote for Obama then that 50% enjoys the beatings, they like the victim status.
Most of the remainder are a little more alert but are still unwilling to change as they will vote for the lesser of two evils. But it is still evil.
A few will vote with their eyes wide open and know what they do only makes themselves feel better, but won't change a thing.
Have a nice day!
"I am so distrustful of MSM sources and their B.S. that I have become a total cynic."
The fact that USA Today had the guts to print the list during the same week of the bailout bill debate shows a lot. Maybe everyone in the media isn't trying to suckle up to their favorite politician.
rt - That is the scam, RT. It is not really affordable, except to the developer and his political connections.
les - House flipping, lawsuit flipping and burger flipping are the new America's greatest productive contributions to the world market. Malkin has a few good articles on how illegal aliens have used the technique you describe, to walk away with money that will NEVER be recovered. They walked into the liberal restaurant, ordered the premium wine, caviar and pate'. They drank the wine. They ate the caviar. They ate the pate'. Then they walked out, saying to the Maitre Di (FM & FM):
"You see that guy over there ( you and me )? He's going to pay the check."
The Maitre Di said. "No Problem! We trust you. We do not want to offend you, your race, your class or your ethnicity, by pointing out your lack of credit." Then they were allowed to leave the place and leave the check.
You and I did nothing wrong, except sit at the table, with our feet stuck in a solidifying bucket of concrete, waiting to be tossed over the bridge railing.
That is a cold, hard fact.
chris c. - Sometimes the evidence is so overwhelming, the act must become an act of triage, since the evidence really shines the light on the culprits. This is the only reason why I would like yesterday's apples compared to yesterday's oranges, Instead of today's apples compared to yesterday's fruit of either flavor. I have heard a lot from the MSM about how we should not point fingers at this party or that. Imagine if the video I linked in this post, had the party letters reversed. These guys want to peanut butter the whole crisis equally. It is NOT equal, by the evidence of ideology; Those that want more government in our lives and those who do not.
Maybe your right. We should praise and recognize courage. I am having a hard time doing it.
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