Did Fannie Mae start the downfall of the economic crisis we are now experiencing?
Did the N.Y. TImes have it right since 1999? Open link below and read for yourself…
Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260
Tagged with: clinton administration • fannie mae • home mortgages • moderate income • mortgage loans • n y times • phenomenal growth • profits • stock holders • underwriter
Filed under: Fannie mae Questions
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The money system’s fall is inevitable. Fiat money, usury and The Fractional Reserve System are going to go down. It is inevitable. This could just be a tremor, but it could also be the absolute end of it all. The framers of the constitution erected a system that would be free of these problems. Our leaders gave it away in 1913 when they succumbed to the European bankers with the 16′th amendment and The Federal Reserve Act. Our throats were cut when Nixon took us off the gold standard in 1971.
Money as Debt:(Conspiracy Theory Free)
http://video.google.com/videoplay?docid=-9050474362583451279
I love how the Democrats say deregulation did it. Well guess what? You voted for the idiots who fought regulation.
Bush calls for regulation of the mortgage industry 17 times in 2008 and at least 25 times in the previous 7 years.
http://gatewaypundit.blogspot.com/2008/09/bush-called-for-reform-of-fannie-mae.html
Democrats deny the need for regulation of mortgage industry:
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Barrack Obama and the filibuster to deny mortgage industry regulation:
http://www.butasforme.com/2009/02/17/rove-schools-matt-lauer-on-how-obamas-support-for-fanniefreddie-filibuster-proved-detrimental-to-the-economy/
Democrats are uneducated, unquestioning idiots.
It was the DEREGULATORS who started this downfall.
GET IT???????
no. fannie mae did not create the economic crisis.other people did.
No. Fannie Mae did not buy sub-prime loans from mortgage originators.
Perhaps they contributed but the sub-prime loans started the problem. So it was more the fault of the banks and mortgage originators who gave those loans.
Yes, this whole thing started, not with government deregulation, but with government manipulation of the mortgage industry.
The first 3 did not read the link.
Don’t know if Fannie Mae started the mess but it was a big part of it. We will never know the whole truth because there are too many politicians involved
It started with the American definition of capitalism, which they took as make money by any means necessary. They built a bubble as big as the world, and it burst.
I blame the power of computers in the hands of bean counters, who kept sucking until there was nothing left to sustain life
Its only 1 of the symptoms not the cause .
You have to look at the deregulations made by politicians like Alan Greenspan when he was head of the fed.
This goes back to the 80s .
It was the same Keynesian view of finance used by the EU and the UK. but he couldnt have done it without the agreement of pols like Clinton .
Banks are there to make money. What did they think the banks were going to do when they deregulated them? Fannie and Freddy just gamed the system.
The investments banks were free to do as they pleased no matter what fannie and freddy did and they chose to create derivatives base on home mortgages and sell the to financial institutions all over the world claiming the were safe investments. I can not understand why people want to excuse the faulty judgment of people who were being paid 100’s of millions of dollars a year to manage investment and risk. They were not children that can you the excuse that they had to do it because their friends fannie and freddy did.
they were involved in it,they had books fixed so not to show actual situation. they helped bring down the mortgage mess,and get democrats elected,and as a reward,rahm emanuel and franklin raines have been taken care of by new administration.don’t forget the role the federal reserve played in this,and there too they were rewarded with our treasury secretary and also volcker as adviser
No, GWB did.