Did his adviser Frank Raines get a 5 golden parachute payment upon leaving these mortgage broker companies. Or was there several of these "friends" involved. Clearly, Obama received 0,000 from such "friends." Stayed tuned on this breaking scandal. It aint over until its over.
Freddie Mac Questions Archives
10 points to the first correct answer.
(Hint: it’s not "{content}")
Look through President Barack Obama’s proposed 2011 budget, and you’ll see a line calling for a 5 million increase in the Justice Department’s funding to fight financial fraud. Lucky for them, the people who wrote the budget can’t be prosecuted for cooking the government’s books.
Whether on Wall Street or in Washington, the biggest frauds often are the perfectly legal ones hidden in broad daylight. And in terms of dollars, it would be hard to top the accounting scam that Obama’s budget wonks are trying to pull off now.
The ploy here is simple. They are keeping Fannie Mae and Freddie Mac off the government’s balance sheet and out of the federal budget, along with their .6 trillion of corporate debt and .7 trillion of mortgage obligations. Together that equals 6.3 trillion unaccountable in his budget.
http://www.bloomberg.com/apps/news?pid=20601039&sid=a.G6KFfaDdSc
and how its being call suicide so fast?
What would you name the baby if it was a boy? What about a girl? Will that kid grow up able to pay for anything by himself?
Is his campaign about to go bankrupt and need a government bailout?
After the uproar at AIG for retention bonus payment , special tax laws were passed in Congress to punish those who were to receive them.
Now that the people at Fanny and Freddi are to receive bonuses , and they are government back and got larger bailout than AIG ..
Should the people of those two agency’s be required to return them or be under the same tax penalty.?
Should the citizens and members of congress voice their displeasure with these bonuses also as loud and as long as they were for AIG ?
I’ve seen this charged leveled at the dems, but I really thought it was a Bush plan to close the home ownership gap between whites and minorities that initiated the bad loans in 2002. Can responsibility be truly aimed at the democrats?
didn’t Bush start this in 2002?
http://www.whitehouse.gov/news/releases/2002/10/20021015-7.html
As far as what their mortgague services are, differences between the two (risk, fundamental, etc.).
And if you don’t mind, why or why not?
How come these 2 are off the hook? Look what happened to the leader of Enron. Double standard anyone?
I honestly don’t know, that’s why I’m asking.
My immediate thougths:
"Will it help the overall good?" and
"What kind of tone does this indicate for American business?"
Thanks for sincere input!
and was ignored by the Democrats and Obama got the second most next to Chris Dodd in contributions from these companies why is the current financial crisis a Republican fault. Seriously wake up Obamamaniacs he got the second most amount of money from these two companies. McCain introduced legislation in 05 and it was turned down. Bush wanted to do something in 2003. I know it is hard for Bush haters to admit this but he deserves props on this one
The four largest recipients of political donations by Fannie Mae and Freddie Mac from 1989 through 2008 were Sen. Chris Dodd (3,900), Sen. John Kerry (1,000), President Barack Obama (5,849), and Secretary of State Hillary Clinton (,550).
The Treasury gets billion in 10% preferred stock and warrants to buy 80% of the common for . Current common shareholders have the last claim to profits and are denied any dividends. Is there a scenario where this stock can recover from today’s value of {content}.50 or are there just a bunch of clueless investors trading amongst themselves?
Was he stupid and couldn’t guess people would find out or was he not told??
They are totally backed up by the Fed. You need confidence and trust in the American Dream. Ha ha ha ha ha, trust me.
Can you explain it in Layman’s terms?
Are they named after someone? And please no link to Wikipedia, too many confusing terms for me…