John McCain and Sarah Palin were in Waukesha, Wisconsin, at a town hall meeting yesterday, and McCain finally blamed the Democrats for Fannie Mae and Freddie Mac! He said Obama and his Democrat buddies covered it up and bailed it out. McCain told the
lively crowd Obama and his buddies in the Democrat Party covered up, resisted attempts to reform it. He said they were very eager to bail out AIG, very eager to bail out all these other places, very eager to bail out Fannie Mae, Freddie Mac, but they don’t want to help you with your home value.
In response to the charge that he knew he was getting favors, Mr. Dodd at first issued a strong denial: “This suggestion is outrageous and contrary to my entire career in public service. When my wife and I refinanced our loans in 2003, we did not seek or expect any favorable treatment. Just like millions of other Americans, we shopped around and received competitive rates.” Less than a week later he acknowledged he was part of Countrywide’s VIP program but claimed he thought it was “more of a courtesy.”
However, those same crooks in Congress never mind helping themselves out and are slowly being called out for the financial crisis the created. One gentleman in the Waukesha crowd commented:
“I’m mad! I’m really mad. And what’s gonna surprise you is, it’s not the economy. It’s the socialists taking over our country. (cheers and applause) I think it’s so important in today’s country, what we’re really missing and what’s going on. When you have an Obama, Pelosi, and the rest of the hooligans up there gonna run this country, we gotta have our head examined. It’s time that you two are representing us, and we are mad. So go get ‘em!”
A realtor in the crowd spoke up next:
“I’m a realtor witnessing firsthand the effect the mortgage crisis has had on many people’s lives. Will you assure us that, as president, you will take immediate action to investigate, prosecute, and name the names of the people actually responsible?”
Senator McCain listened and responded:
“I will. And it is already a matter of record that Democrat members of Congress fought against reform, and it’s a matter of record and hearings that they said everything was fine. Senator Obama, a year ago, said, these kinds of subprime loans are, quote, “fine with him.” And the fact is that the same people that are now claiming credit for this rescue are the same ones that were willing coconspirators in causing this problem that it is, and you know their names, and you will know more of their names. Congressman Barney Frank and Senator Chris Dodd are two of them.” (wild applause)
Today’s Wall Street Journal calls out Sen. Chris Dodd (D-CT) today also:
The Connecticut Senator has been out front denouncing the “companies that form the foundation of our financial markets,” for “their insatiable appetite for risk.” He has also decried “reckless, careless and sometimes unscrupulous actors in the mortgage lending industry” and he has proclaimed that “American taxpayers deserve to know how we arrived at this moment.”
Up to now the crooks and liars in Congress have been patting each other on the back and laughing it up as they congratulate themselves on the great cover-up.
Former Countrywide Financial loan officer Robert Feinberg says Mr. Dodd knowingly saved thousands of dollars on his refinancing of two properties in 2003 as part of a special program the California mortgage company had for the influential. He also says he has internal company documents that prove Mr. Dodd knew he was getting preferential treatment as a friend of Angelo Mozilo, Countrywide’s then-CEO.
In response to the charge that he knew he was getting favors, Mr. Dodd at first issued a strong denial:
“This suggestion is outrageous and contrary to my entire career in public service. When my wife and I refinanced our loans in 2003, we did not seek or expect any favorable treatment. Just like millions of other Americans, we shopped around and received competitive rates.”
Less than a week later he acknowledged he was part of Countrywide’s VIP program but claimed he thought it was “more of a courtesy.” Mr. Feinberg, who oversaw “Friends of Angelo” from 2000 to 2004, begs to differ.
“People are referred into that department as ‘very important people.’ You’re told that your loan is priced from Angelo. As the ‘Friends of Angelo department,’ [the department] has to give them a sense of importance and explain the reduction of fees and the rate as a result of being a ‘Friend of Angelo,’” he says. According to a report by Dan Golden in Condé Nast Portfolio in August, other VIPs included Senator Kent Conrad. Mr. Golden reported that “Countrywide also offered special discounts to congressional staffers involved in housing issues.”
As to Mr. Dodd, Mr. Feinberg says he spoke to the Senator once or twice and mostly to his wife and that like other FOAs Mr. Dodd got “a float down,” which means that even after he had a preferred rate, when the prevailing rate dropped just before the closing, his rate was reduced again.
“They were aware of it because they were notified and when they went to the closing they would see it,” Mr. Feinberg says, adding that he “always let people in the program know that they were getting a very good deal because they were ‘Friends of Angelo.’”
Dodd and his friend like Barney Frank and Barack Hussein Obama have enjoyed “bonuses” from their influence peddling friends in the housing industry.
In Just Four Years, Barack Obama has received more money from Fannie Mae and Freddie Mac than any other member of Congress in the past two decades (Since 1989) Except Senate Banking Committee Chairman Sen. Chris Dodd. (Lindsay Renick Mayer, “Fannie Mae And Freddie Mac Invest In Lawmakers,” Center For Responsive Politics’ “Capital Eye” Blog, www.opensecrets.org, 9/11/08)
Obama joined Dodd in actively opposing reform measures and weakening existing regulations.
“During this period, Sen. Richard Shelby led a small group of legislators favoring reform, including fellow Republican Sens. John Sununu, Chuck Hagel and Elizabeth Dole. Meanwhile, Dodd — who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 — actively opposed such measures and further weakened existing regulation.” (Al Hubbard and Noam Neusner, Op-Ed, “Where Was Sen. Dodd?” The Washington Post, 9/12/08)
Barack Obama respects Chris Dodd:
“He is respected on both sides of the aisle for his authenticity, reason, and civility. And that is how, time and again, he’s been able to bring Democrats and Republicans together to make a real difference in the lives of the American people.” (Sen. Barack Obama, “Senator Chris Dodd Endorses Barack Obama For President,” Press Release, 2/26/08)
Crooks, liars and gangsters, indeed!
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October 10th, 2008 at 11:59 am
I find it telling that you never mention that at least nine former lobbyists for Freddie/Fannie currently work for the Mccain campaign (including its chairman Rick Davis). Sooner or later even your own Republican colleagues are bound to turn against you.
October 10th, 2008 at 12:06 pm
I find it telling you don’t tell us that Ron Davis is not connected with his lobbying firm.
No salary, no profit sharing, nada..zilch…….
Now, why don’t you name names instead of shilling for Obama without facts.
The post is discussing facts and we have reported direct links from Congress, Fan/Fred to Obama and his ilk in Congress.
We report the facts, you don’t.
January 30th, 2009 at 10:51 am
[...] Mr. Dodd won’t help get to the bottom of his alleged crime by releasing mortgage documents for the two properties that he and his wife refinanced with [...]
July 8th, 2009 at 5:36 pm
You know, it’s not shocking that the rich and famous get better deals on everything. That’s capitalism at its finest right there. And it just sucks to see it in writing. They’re not really -stealing- anything, so much as paying a lot more than anyone else will. We’re just down here drowning in the money pit, I’m a poor line cook, they’re floating a lot higher, even today with all our “economic problems.” (IMAGINE THAT you need revenue to run a nation! Deficits DO matter! Reagan was wrong! [sorry, i know that one hurts.]). I prefer that my millionaires at least look down and say “Hey, I can see you… have some of this…” and toss me a few hundreds. Because I’m worth it, you know? Because I exist. And they’re god damned rich. At least some of them will acknowledge it, start really trying to kick pennies down the well. You’ve got all the millionaires on TV acting like this is some god-damned conspiracy. How many generous millionaires are there, really? They deserve to be taken down a notch because there are people, THEIR OWN COUNTRYMEN, who are languishing at the other end of society. That’s what this is really about, nowadays. You Rand Objectivists will let a man die on your doorstep and me and whatever you want to label my people, my allies, want to let anybody do whatever they want, and that means equalizing the great “invisible hand” by having ALL OF US hold it up, and not just the bottom half. Oops, it’s getting late, I have to go to work! Wish I had more time to chat, Liberally. You’re good at what you do.
July 8th, 2009 at 6:08 pm
You can get off that line cook job, maybe start a hot dog stand, really. I know some people who started with small investments in Vienna Hot Dogs with carts, and with Vienna’s guidance did very, very well.
That’s an example not a criticism. I mean it; if you want more info than write me. Don’t cry “poor me”, shout from the roof tops you’re mad as hell and aren’t going to take it anymore.
Than G.O.Y.A. and set some goals, plan your work than work your plan. Indeed!
July 8th, 2009 at 7:22 pm
It seems like a fairly easy assessment that i’m “on my ass.” I’m not complaining about my situation, I’m speaking from it. I’m also a stand-up comedian and I sell propaganda and music that I create. My point stands, I will never vote for politicians who openly defend millionaires (via tax breaks), and I will certainly defend politicians who are trying to prevent the untimely demise of the lowest economic rung on the ladder. That means healthcare for everybody, consumer protections, and in times like these where the millionaires have all stopped lending hundreds of billions of dollars and instead store them proudly in offshore tax havens, the government needs to create jobs. It’s disgusting, that there is even a popular sentiment in this country, where people will defend the right of 1% of society to trample all over the rest of us.
July 8th, 2009 at 8:05 pm
First, the government doesn’t create private sector jobs, the one’s that grow the economy.
Second, if you tax the “millionaires” and small business people who create jobs that are not millionaires to a total of 70% of their gross income including all the federal, state, local and payroll taxes then who will foot the bill that you think you have a right to?
Who the hell are you to say people like me that create jobs, employ people, pay healthcare and 50% of social security, pensions and all that’s needed to subsidize others? Explain that to me.
And government can’t run medicare, medicaid, social security, Amtrak, the postal system and all their other so-called “businesses”, so you want them to run healthcare?
They can’t do it, they can only drive everyone, including the worker bees that create the jobs into oblivion. Then, no jobs only tyranny. Is that what you want?
If you sell propaganda then ask that moron Marxist/Fascist Obama for a job, they can use people like you.
You suffer from class envy so get off your lazy ass and get busy. I and people like me don’t owe you a damn thing. Did you pay for my six-figure MBA from Northwestern?
Did you study and pass with honors the most difficult board exam for professionals known as the CPA exam for me?
Did you earn a degree in accounting so you could qualify for the aforementioned exam?
Did you go thru Army Ranger School and jump school for the US Army and serve your country?
What have you done lately You people make me sick.
Furthermore, you couldn’t carry a bucket of shit for my son serving in Aghanistan you lump of excrement.
Yes, Ranger’s lead the way, for imbecilic followers and lazy shit’s like you so you can beg for handouts. Indeed!
July 9th, 2009 at 8:03 pm
You have an MBA from Northwe’stern? Your apos’trophe’s have s’ome ‘splainin’ to do. You were in the Army! That’s a government-organized business, and every base really is just a welfare state. Well run, I might add. The postal service is pretty incredible, too. My mom drops a birthday card in the mail, i get it in the same week? You really think the government can’t run a healthcare program like Medicare (3% overhead) in competition with private insurance (30% overhead)?
I honestly feel like the real “vanguard” or “elite” class is people with a lot of money acting like they didn’t get it without, as you say, employing people. All the people who work for you deserve an equal stock in that company. You, as an innovator, did a great thing in starting a business. The American model of cutthroat ownership is disingenuous at best. Under a government mandate, you’ll soon have to provide that option. But Social Security will diminish in importance as it is primarily a medical-bill middleman anymore. The American model of denying healthcare based on income is disgusting. It’s a group of elites, the moneyed, looking down at the dying and saying “oh, well he should’ve been prepared.” How did you afford your degree? Wall-street’s willingness to make loans. Those fools! Generosity is a curse!
Tax rates are currently far lower than they’ve been in history. So low, in fact, that we have barely a source of revenue to keep essential things running. LIKE CALIFORNIA (placed into a budget stranglehold by a GOP-backed Prop 13 with no economic benefit – you as an accountant should realize that.)
And anyways, go on and brag about your degree. It doesn’t qualify you for politics any more than my degree in Propaganda does me. But I certainly seem to understand communication better than you do. I love how I apparently disrespect troops by the end of this message, where you curse, again insist I “don’t do anything.” I actually do quite a bit. Between my two jobs, I work maybe 50 hours weekly. The Armed Forces fight for all of us to be free, but I an ont entirely free as I paid 10% of my monthly income into some unexpected medical bills this morning. That smarts. I never served in the Armed Forces and don’t plan to and I wish you and your son the best.