Wicked Good Conference / Boston /

Barney's Rubble?


By Sparky - Sep 17, 2008, 10:02 PM
Post #1 of 8

http://online.wsj.com/article/SB122091796187012529.html?mod=opinion_main_review_and_outlooks


November 1978 ~ Democrats drinking the Kool-Aid ~ November 2008

"Ense petit placidam sub libertate quietem"

"Don't Blame Me, I Voted For Sarah"

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Re: Barney's Rubble?

By Dave - Sep 17, 2008, 11:29 PM
Post #2 of 8 [In reply to]

 
In 2003 The New York Times reported that


Code
    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.


Sounds like a good idea, but not so fast...

The leading Democrat on the House Financial Services Committee torpedoed the idea, saying:

Code
    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.


Who was that Democrat, you ask?

Someone who has a bit of expertise in the fannie area, yeah, the same guy that Sparky mentioned:



To clarify, "affordable housing" == "making loans to people who can't afford them" == "An Equal Opportunity Lender".

Thanks a lot, Barn.

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Attachments: barney.jpg (34.1 KB)



Re: Barney's Rubble?

By Fred Sennott - Sep 18, 2008, 8:39 PM
Post #3 of 8 [In reply to]

I guess Barney got some pretty heavy donations from Fannie Mae and Freddie Mac.
Trust in God and sin not.Don't blame me I'm like Sparky I voted for Sarah to.

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Re: Barney's Rubble?

By Harry Burton - Sep 22, 2008, 11:37 PM
Post #4 of 8 [In reply to]

Well we definitely know he’s into fannies.Laugh

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Re: Barney's Rubble?

By Fred Sennott - Sep 23, 2008, 9:01 PM
Post #5 of 8 [In reply to]

Douche`.
Trust in God and sin not.Don't blame me I'm like Sparky I voted for Sarah to.

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Re: Barney's Rubble?

By Sarcastic Sam - Sep 24, 2008, 12:02 PM
Post #6 of 8 [In reply to]


In Reply To
Douche`.


LaughLaughLaugh

Fred, please admit whether that was an unintentional typo or not.
-------------------------
Life is....a Simpsons episode

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Re: Barney's Rubble?

By Fred Sennott - Sep 24, 2008, 8:20 PM
Post #7 of 8 [In reply to]

What me make a typo.
Trust in God and sin not.Don't blame me I'm like Sparky I voted for Sarah to.

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Re: Barney's Rubble?

By Mike in TX - Sep 25, 2008, 1:16 PM
Post #8 of 8 [In reply to]


In Reply To
What me make a typo.

Especially one so accurate!
Sigs are overrated.

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