Originally Posted by Joy Boy
Bill:
If someone filibustered a bill in 2005 or 2006, it would have been the Republicans. They controlled the Senate until the 2007 session -- they lost in the midterms in 2006.
But that's the moot point. Fannie and Freddie are in the dire shape they are because of incompetent/illegal accounting and the fact that they, like so many others, INVESTED in mortgage-backed securities that were built on subprime loans and became the notorious "toxic assets."
But Fannie and Freddie didn't make subprime loans -- the loans to people who couldn't afford mortgages, etc. The laws that they operated under didn't allow it.
Brian: Do you have any specific examples of all the things you say Obama is doing -- surrounding himself with communists and dividing the country by race, etc?


You are right Joyboy. There was no filibuster. I guess there was a bill, S 109 maybe, but it was blocked somehow. Another attempt appears to have been made in 2008. There is so much conflicting information it is hard to sift through it to find the truth. If there even is a truth.
Far as I can tell what Fannie and Freddie did was buy the bad loans in huge quantities then sell them to investors who thought they were safe because they were Federally backed.
This was done, apparently, with the blessing of our Congress.

AS I understand it the Bill never made it to vote.
It apparently was blocked by Dems. Republicans screwed up by not forcing the issue but they needed 60 to pass it and didn't have the votes..
Dodd, Frank and Obama all benefited from the bill being stopped.
Obama and Dodd seem to have received considerable financial contributions. More than any others.

Are we drifting too far yet?

Last edited by Bill Robinson; 09/04/10 12:06 AM.
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