And let’s not forget Barack himself! This is the first portion of mandatory reading. I am posting just a teaser, but please take the time to read the info and email the link to everyone in your address book. (H/T Ace)
As an executive at Fannie Mae, Franklin Raines illegally coerced his employees to falsify accounting facts so he’d get a maximum bonus. The government-backed firm used Enron-like fraud, in part at Raines’s orders, to create the largest bail-out in US history. Raines had the whistleblower fired. From the Heritage Foundation:
In 2004, after a tip from a whistle blower who was later fired, the Office of Federal Housing Enterprise Oversight (Ofheo) issued a report finding that the government-sponsored entity Fannie Mae had engaged in Enron-like accounting machinations that allowed Fannie to overstate its earnings and underestimate the risk the company faced. The accounting wizardry Fannie engaged in was designed so that Fannie could meet profit targets tomaximize bonus payments to company executives like Clinton administration deputy attorney general Jamie Gorelick and Carter administration assistant director for domestic policy Franklin Raines.
From the ACU:
Following his tenure in Democrat Bill Clinton’s White House as Budget Director, Raines returned to Fannie Mae where he served as Chairman and Chief Executive Officer prior to being forced out over accounting fraud allegations that federal authorities claimed were used to pad his own pocket with tens of millions of dollars in un-earned bonuses on top of his multi-million dollar pay. Raines and other top executives drew multi-million dollar salaries at Fannie Mae for many years.
Although he claimed no wrong doing, Raines agreed to settle the suit with the federal government just this year and agreed to pay back a few million of the near $50 million it had been alleged he obtained illegally through bonuses not due from Fannie Mae.
Now, this criminal is Barack Obama’s campaign adviser. Only one member of Congress, Barney Frank, Chris Dodd, received more kickbacks from Raines’s Fannie Mae cronies than did Barack Obama–over $120,000 in bribes.
Continue reading and please email the link!
Dan at Protein Wisdom has these must read links:
In the WaPo’s otherwise useful overview of what went wrong with Fannie and Freddie, a curious omission: the four biggest recipients of Fannie and Freddie’s congressional largesse–Dodd, Kerry, Obama and Clinton–are nowhere mentioned, unless one clicks on a :
ABC’s malicious editing of the Palin interview deserves the coverage it’s getting, but . . .
Meanwhile, Rangel’s skating on his interesting ways and means; the story about :
From the WaPo:
Taxpayers face a tab of as much as $200 billion for a government takeover of Fannie Mae and Freddie Mac, the formerly semi-autonomous mortgage finance clearinghouses. And Sen. Christopher Dodd, the Democratic chairman of :
So you can understand my pessimism. But it’s now combined with a rising frustration. I watch as the Democrats stumble, uncertain how to take on Sarah Palin. :
ACORN! Why did Fannie and Freddie make so many unsound loans?
Because Obama’s buddies in ACORN pressured them to. And then (as the video in a previous post noted) Fannie’s CEO called Barack Obama a member of the “family” and thanked him for pressuring him to make unsound loans.
Which you now have to subsidize.
And Barack Obama’s Finance Chair, Penny Pritzker, has a “special place” in engineering the sub-prime meltdown:
“The [sub-prime] financial engineering that created the Wall Street meltdown was developed by the Pritzkers and Ernst and Young, working with Merrill Lynch to sell bonds securitized by sub-prime mortgages,” Timothy J. Anderson, a whistleblower on financial and bank fraud, told me in an interview.
“The sub-prime mortgages,” Anderson said, “were provided to Merrill Lynch, by a nation-wide Pritzker origination system, using Superior as the cash cow, with many millions in FDIC insured deposits. Superior’s owners were to sub-prime lending, what Michael Milken was to junk bonds.”
This entire scandal has the Democrats’ fingerprints all over it. And Obama’s right in the middle! People need to work for the American Dream. It was never a promise it was a goal. People need to work hard, save money, have good credit and make good choices in order to achieve the dream. That dream has turned into our NATIONAL NIGHTMARE!
Trackposted to Blog @ MoreWhat.com, Mark My Words, Rosemary’s Thoughts, Right Truth, Shadowscope, DragonLady’s World, Leaning Straight Up, Cao’s Blog, Democrat=Socialist, Conservative Cat, , third world county, The World According to Carl, Walls of the City, The Pink Flamingo, , Wolf Pangloss, and WingLeSS, thanks to Linkfest Haven Deluxe.
RobertWell this news certainly calls for huge bonuses for the management! Afer all, they are politically-connected...
Fred Dawesthis is what happens when you have a PC Army how sad but will become normal place in the coming years of...
Fred DawesLooks like the real civil war is about to start 12 to 20 killed at ft.hood and the FBI Said its not mulsims...
Former Army OfficerGee let’s use some common sense here (A rarity in DC I’m sure.) If you’re a top...
Former Army OfficerSince San Fran Nan closed the press conference, who did someone from the opposition get in with a...
Former Army OfficerThere won’t be any working poor to live off of if this and the crap and tax bill passes. The...
Former Army OfficerBush may have pushed for laws to allow them to come here, BUT this guy came during the CLINTON...
Former Army OfficerNow if the fact that the voters in Maine are actually somewhat conservative would soak in to their...
RobertHa ha ha! WHAT a pathetic douchebag! He just makes up his own criteria, which by definition then makes his...
PamDid you say spin Robert? Look for my Next post..he can spin!
RobertWell maybe Olbermann is cloistered away preparing a magnificent way to spin all of this into a crowning victory...
PamIn order to soak the rich properly and by properly, I mean soak them so everything is paid for, the tax rate would...
PamI believe the network news applied the Don’t Ask Don’t Tell Policy on this story
libbie basherBeing that this filthy bag of dog sh#t is a Muslim, and not a Christian, will anyone be surprised if...
Fred DawesThe end of a nation has come the end of freedom and laws and the ideals of duty not just to a nation state...
Fred DawesIf you go back to 2004 bush helped to get laws that would allow millions of muslims to come here. Thank you...
Fred DawesOne word, Yes!
RobertIf this is so wonderful and necessary, and Pelosi and other demagogues want so much to tax the rich, I hereby...
StoutcatThanks for linking. The commenter raises a very good question here. Patrick at The Moderate Voice puts it a...
Fred Dawes(who can possibly read a 1,990 page law) the lawyers who work for the big boys who will make billions on...
September 18, 2008 - 12:18 PM on September 18th, 2008
[...] Acorn, Fannie Mae, Freddie Mac, Barack Obama’s Finance Chair-Penny Pritzker, All Tied To The S… [...]
September 18, 2008 - 12:24 PM on September 18th, 2008
ACORN is aradical bunch of hooligans they invaded congressional HQ few years ago waving food trays AND ACORN IS A NUT AND THEY ARE ALL A BUNCH OF SOCLIALISTS NUTS WHERES CHIP AND DALE?
September 18, 2008 - 01:10 PM on September 18th, 2008
Well stated, my friend. I just wish it did not have to be true. There is nothing we can do with a spineless republican party. Did you see one, ONE, investigation coming from our side? Neither did I. *sigh* (GRRRR)
September 18, 2008 - 01:46 PM on September 18th, 2008
Marines turn command outpost into youth center…
A virtue of a good guest is to leave things better than you found them. Coalition forces have been working hard since the demilitarization of Command Outpost Ocataw in Anah to refurbish the building back into a building that could be used by the comm…..
September 18, 2008 - 02:08 PM on September 18th, 2008
A Better Country: Why America Was Right To Confront Iraq – a review…
The book A Better Country – Why America Was Right to Confront Iraq, is a must read and I highly recommend it to all my friends. A Better Country is the Right Truth Book Club selection for September. I couldn’t……
September 18, 2008 - 04:46 PM on September 18th, 2008
[...] Cao’s Blog, Leaning Straight Up, Wolf Pangloss, Democrat=Socialist, Conservative Cat, and Right Voices, thanks to Linkfest Haven [...]
September 18, 2008 - 05:15 PM on September 18th, 2008
How to Destroy NASA and Our Future…
WE HAVE A PROBLEMWhile so many other things have been going on here in the country, the problems of NASA have been swept under the rug. I’ve always tried to be honest when it comes to the Bush Administration, promising to complain about things w…
September 18, 2008 - 10:00 PM on September 18th, 2008
[...] to Carl, The Pink Flamingo, Cao’s Blog, Leaning Straight Up, Wolf Pangloss, WingLeSS, and Right Voices, thanks to Linkfest Haven [...]
September 19, 2008 - 01:16 AM on September 19th, 2008
Democrat Sham: The new oil drilling bill that bans oil drilling…
The Democrats took a beating in the court of public opinion recently when they chose to recess for the summer without doing anything productive for the oil/energy crisis.
Now that congress is back in session, they have seen the light and have proposed …
September 19, 2008 - 01:56 AM on September 19th, 2008
American Politics and The Whiners On the Left Part…
Snooper – It just isn’t fair, dammit! The Democrats were supposed to be winning and here comes along that old white haired dude that is too old to even know what a computer is and that chick from Alaska that no one knows about or has even heard from ….
September 19, 2008 - 02:22 AM on September 19th, 2008
Yea, McCain and his economic advisor Phil Gramm have NOTHING to do with this deregulated meltdown! LOL!!
September 19, 2008 - 04:02 AM on September 19th, 2008
[...] Honor Thyself, The World According to Carl, The Pink Flamingo, Leaning Straight Up, WingLeSS, and Right Voices, thanks to Linkfest Haven [...]
September 19, 2008 - 10:30 AM on September 19th, 2008
Trafficking of Children’s Body Parts from Mexico?…
URBAN RUMOR?On Thursday I learned of a terrifying story out of Mexico. The person who relayed it is from Mexico, but is an American citizen, married with a teenage son, both from this country. Her mother is still in Mexico. She comes …
September 19, 2008 - 10:42 AM on September 19th, 2008
[...] The World According to Carl, Walls of the City, The Pink Flamingo, , WingLeSS, Wolf Pangloss, and Right Voices, thanks to Linkfest Haven [...]
September 19, 2008 - 11:51 AM on September 19th, 2008
Pelosi’s Tired Old Blame Game…
Before getting to the endless loop that is the entirely politically motivated noise spewing from Nancy Pelosi’s mouth, a brief word on the collective efforts of both stripes in Congress and the fact that nearly every poll on the planet ranks the…
September 19, 2008 - 05:10 PM on September 19th, 2008
Holy Gibson…
Informative video, to say the least. ……
September 19, 2008 - 09:29 PM on September 19th, 2008
Obama lies and inflames racial fears…
It would seem Barack Obama finally has an example of his ability to create bipartisan unity. ……
September 20, 2008 - 09:54 AM on September 20th, 2008
Another False Obama Rumor…
I promised to keep on top of false rumors about Democratic Presidential candidate Barack Obama. This latest one is perhaps the most outlandish of all: according to a story by the French news agency AFP, Obama knows how to fix……
September 20, 2008 - 10:24 AM on September 20th, 2008
[...] the City, The World According to Carl, The Pink Flamingo, , WingLeSS, Wolf Pangloss, Stageleft, and Right Voices, thanks to Linkfest Haven Deluxe. ARTICLEURL digg_bgcolor = ‘#ffffff’; digg_skin = ‘compact’; [...]
September 20, 2008 - 12:49 PM on September 20th, 2008
New Nuclear Reactors in Pakistan — New Bombings in Pakistan…
Who is responsible for the truck bomb at the Marriott in Islamabad Pakistan — a symbol like the Twin Towers were to Americans? There has been no claim so far from any particular group for this tragedy. The Marriott supposedly……
September 20, 2008 - 01:55 PM on September 20th, 2008
[...] county, Woman Honor Thyself, The Pink Flamingo, WingLeSS, CORSARI D’ITALIA, Stageleft, and Right Voices. Also, thanks to Linkfest Haven [...]
September 20, 2008 - 03:32 PM on September 20th, 2008
[...] to Carl, , The Pink Flamingo, Wolf Pangloss, WingLeSS, CORSARI D’ITALIA, Stageleft, and Right Voices, thanks to Linkfest Haven [...]
September 20, 2008 - 04:10 PM on September 20th, 2008
Obama continues his infanticide lies…
t’s already been well established that Barack Obama has lied about his pro-abortion record and his fight against legislation that would have protected abortion survivors. He now continues this disturbing habit with his response to ……
September 20, 2008 - 09:22 PM on September 20th, 2008
Democrats created the Fannie Mae and Freddie Mac problems years ago, in a well intentioned but failed effort to allow low income groups to buy houses. They stopped ALL eforts at reform until it was too late. Now they are trying to blame Bush, McCain and Republicans, everyone but themselves. That’s the Gods truth and here is the proof:
http://strategicthought-charles77.blogspot.com/2008/09/democrats-created-fannie-mae-and.html
September 20, 2008 - 11:16 PM on September 20th, 2008
Poor, Lazy People…
There’s only only one hitch though. (Don’t tell the Dems but:.) the people that are too lazy to work are also too lazy to vote. Ha.
……
September 21, 2008 - 03:11 PM on September 21st, 2008
Liar Liar…
Well you get the picture.
Obama stopped in Florida this weekend to try and scare grandma and grandpa with a big ole country size lie. Whats the big deal? Nothing new is it? And on the scale of Obama lies this rates about a one.
WTH tells us:
Ove……
September 21, 2008 - 05:15 PM on September 21st, 2008
[...] to Carl, , The Pink Flamingo, Wolf Pangloss, WingLeSS, CORSARI D’ITALIA, Stageleft, and Right Voices, thanks to Linkfest Haven Deluxe. ARTICLEURL digg_bgcolor = ‘#ffffff’; digg_skin = ‘compact’; [...]
October 10, 2008 - 07:41 AM on October 10th, 2008
[...] I do know is that he had some very funny accounting numbers while at Fannie Mae that helped pad his bank account. According to the Washington Post, Raines is going to have to pay back millions, but gets to keep [...]