Comments on: McCain-Gramm and The Fannie Mae Crisis

By: tj

tj — Tue, 30 Sep 2008 23:07:09 +0000

You know if you go back and look at the history, they (both parties) are culpable in this debacle. I say vote independent and kick all the incumbants out of office. You want change, that will effect change. Anybody read tom clanceys book where Jack Ryan becomes President? Sounds like a good idea Tom

By: tj

tj — Tue, 30 Sep 2008 23:07:09 +0000

By: Larry Lane

Larry Lane — Thu, 18 Sep 2008 03:13:17 +0000

I’m voting for Obama / Biden – but I’m having trouble reconciling your LGBT senate role call link with the official version, http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=106&session=1&vote=00354 , which shows that Joe Biden voted for the bill and McCain did not vote – what gives?

By: Larry Lane

Larry Lane — Thu, 18 Sep 2008 03:13:17 +0000

By: Jerry Shugart

Jerry Shugart — Wed, 17 Sep 2008 17:13:24 +0000

Why is no one speaking of the fact that John McCain introduced a bill in 2005 to reform Freddie Mac and Fannie Mae?

This was the “Federal Housing Enterprise Regulatory Reform Acts of 2005.”

This bill was defeated by the Democracts.

It is also interesting that no one received more in political contribulations from these two companies than did Senator Obama!

By: Jerry Shugart

Jerry Shugart — Wed, 17 Sep 2008 17:13:24 +0000

Why is no one speaking of the fact that John McCain introduced a bill in 2005 to reform Freddie Mac and Fannie Mae?

This was the “Federal Housing Enterprise Regulatory Reform Acts of 2005.”

This bill was defeated by the Democracts.

It is also interesting that no one received more in political contribulations from these two companies than did Senator Obama!

By: P. Cross

P. Cross — Tue, 09 Sep 2008 21:50:05 +0000

CRA, created a huge number of potentially bad loans that were so interest sensitive they created a situation where any increase in interest rates released that potential. The Community Reinvestment Act is but another example of how the congress in the name of political correctness has created another unintended consequence in a market. The Law was passed in 1977 then updated in 95′ & 05′

Liberal claims that they are blameless are like a man standing with a smoking gun behind his back saying they went that away as the posse approaches.

I would submit until these loans and securities are for the most part are dealt with, any further interest rate increases will only exacerbate the problem and the FED knows it.

Several years ago a friend in the legislature ask me what I thought they, the legislature should do with a large excess in the general fund. Send 50% back to the people of the state and save the rest. They didn’t but Sarah did. She scares the dejesus out of the left.

By: P. Cross

P. Cross — Tue, 09 Sep 2008 21:50:05 +0000

Liberal claims that they are blameless are like a man standing with a smoking gun behind his back saying they went that away as the posse approaches.

I would submit until these loans and securities are for the most part are dealt with, any further interest rate increases will only exacerbate the problem and the FED knows it.

By: Morgan Warstler

Morgan Warstler — Tue, 09 Sep 2008 19:53:29 +0000

Uh Oh, Jon, wrong again:

“Morgan-For someone who pretends to know a lot, you sure are pretty clueless in the economic realm. Fannie and Freddie were prohibited by law from buying sub prime mortgages.”

See Alex’s post (thanks Alex). This whole thing is going to come down to, “pressure to support shitty loans.”