Sen Obama wants the Government to take over more of the Economy: Is that a good idea

Sen Obama wants the Government to take over more of the Economy: Is that a good idea?
History of Economic disaster: Fannie Mae is a "Govt Sponsored entity"; they buy mortgages from Banks and other Companies and are backed by THE TAXPAYERS FOR ALL LOSSES, BUT THEY KEEP ALL PROFITS. 1998-2008: Banks forced to give bad loans, O down, no documentation for 120%, and ACORN is accountable, backed by Democrats. Executives at Fannie Mae receive huge bonuses if loan targets are met, so bad loans ar handed out like penny candy. Franklin Raines and Jamie Gorelick are appointed to run Fannie Mae. 2003 Mr. Bush proposes new oversights Committee to clean up Fannie Mae, but DEMOCRATS DERAIL IT. FRANKLIN RAINES GETS 100 MILLION DOLLARS IN BONUSES. JAMIE GORELICK GETS 75 MILLION DOLLARS IN BONUSES. 2001 Enron files for bankruptcy, congress investigates, executives Skilling and Lay go to jail for fraud. Congress responds with the Sorbanes-Oxley act "more regulations of corporations". 2004 An O.M.B. investigation finds massive fraudulant bookkeeping at Fannie Mae, under the care of GORELICK AND RAINES. CONGRESS RESPONSE: NOTHING -no hearings, no jailtime, no person punished, no bonuses paid back. > Fannie Mae give millions to democratic causes ACORN and RAINBOW. > Fannie Mae pays millions to 354 Congressmen and Senators from BOTH parties. WHO GOT THE MOST KICKBACKS? 1. Chris Dodd (D-CT) Chairman, Banking Houses & Urban Affairs. 2. Barack Obama (D-IL) Federal Financial Management Committee 3. Chuck Schuman (D-NY) Chairman, Finance Committee 4. Barney Frank (D-MA) Chairman, Hse Financial Services Committee 2005: Franklin Raines and top execs forced to resign from Fannie Mae. -no jail, no media reporting, keep all bonuses. RESPONSE FROM DEMOCRATS: SILENCE. RESPONSE FROM REPUBLICANS: Sen. John McCain makes this statement: "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole". MCCAIN CALLS FOR: The Federal Housing Enterprise Regulatory Reform Act. THIS LEGISLATION WOULD HAVE PREVENTED WHAT WE SEE ON TV TODAY IN THIS ECONOMIC DISASTER THAT MCCAIN SAID WOULD SURELY HAPPEN. DEMOCRAT REPONSE: >None of the top 4 kickback receivers supported the legislation. >The legislation is quickly blocked and derailed immediately by democrats, never even making it out of the Committee. >Democrats are on Youtube video, yelling that nothing is wrong, there is no possibility of any economic crisis coming, and that the taxpayers were completely safe. Democrats insist that no oversight is necessary with regard to freddie mac and fannie mae. 2008 Fannie Mae and Freddie Mac go bankrupt and the Government takes them over completely. Lehman goes Bankrupts from investing in the bad mortgages. AIG gets $85 Billion in loan guarantees after insuring thousands of bad mortgages. FRANKLIN RAINES IS NOW THE ECONOMIC ADVISOR TO THE OBAMA CAMPAIGN, AND HE WANTS: The Government to take over more of the economy. WE ARE IN THIS BAD SPOT BECAUSE GOVERNMENT INTERFERED WITH THE HOUSING MARKET IN THE FIRST PLACE, BY: forcing banks to give mortgages to people who simply could not afford to pay them. Government interference forcing agencies to loan money to people who could not afford to pay it back. HOW WOULD EVEN MORE Government interference make this better? IF THE DEMOCRATS WOULD HAVE STAYED OUT OF THE BANKS AND LENDING INSTITUTIONS BUSINESS AND ALLOW THEM TO REQUIRE DOCUMENTATION, GOOD CREDIT, AND A MEANS TO PAY THE MORTGAGE, we would not be suffering this economic disaster we see today. Questions: 1/ Do you believe like Franklin Raines that Government interference in MORE CORPORATIONS AND BANKS would be good for this Country? 2/ Do you think that Franklin Raines being the executive who walked away with 100 billion dollars and a bankrupt Fannie Mae, is the right person to be Obama's Economic advisor and RUN THIS NATION? 3/ Do you know that it was Obama's baby, ACORN, who provided the strongarming that was done to force these banks into giving out mortgages to people who could not afford them? 4/ Do you know that when working on the economic bailout last week, that Obama and his Democrat partners tried to divert 20% of any money taxpayers would get back, over to ACORN instead? Thanks for your answers. Sources: www.govtrack.com 9/17/08 New York Times 9/13/03 Herald Tribune 4/18/08 Congressional Record 5/25/06
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no the government is terrible at running things