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POPSObamACORN Obama : ACORN Hitler : Brown Shirts Next thing, ACORN will go on a rampage of breaking glass windows of homes and stores white middle class small business owners.
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POPSMortgage Refinancing i am doing on this projects : http://www.theloansstore.com which is the best site for refinancing mortgage, construction loans, refinancing mortgage rate, bad credit home loans and countrywide home loans. Can you fill the application form and click on Apply Now, you will get refinancing mortgages
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POPSOhio woman, 90, shoots self during eviction; Fannie Mae forgives loan In 2004, Polk took out a 30-year, 6.375 percent mortgage for $45,620 with a Countrywide Home Loan office in Cuyahoga Falls, Ohio. The same day, she also took out an $11,380 line of credit. Over the next couple of years, Polk missed payments on the 101-year-old home that she and her late husband purchased in 1970. In 2007, Fannie Mae assumed the mortgage and later filed for foreclosure. Deputies had tried to serve Polk's eviction notice more than 30 times before Wednesday's incident, Sommerville said. She never came to the door, but the notes the deputies left would always disappear, so they knew she was inside and ambulatory, he said. Sommerville said Akron is creating programs to help people keep their homes. "But what do you do when there's just so many people out there and the economy is in the shape that it's in?" He added that many businesses and individuals have offered to help Polk.
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POPSFBI Investigating Companies At Heart Of Meltdown Last week, the Federal Reserve provided an emergency $85 billion loan to AIG, which teetered on the brink of bankruptcy. Lehman Brothers was forced to file for bankruptcy after attempts to engineer a private rescue fell apart. All the companies were laid low from bad bets on complex mortgage-related securities. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke made the joint decision last week that the only way to stop the carnage was to deal with the root cause of all the troubles, billions of dollars of bad mortgage debt sitting on the books of major financial companies. This debt has triggered the worst credit crisis in decades, causing credit markets to essentially freeze up despite the fact that the Fed joined with major central banks around the world to pump billions of dollars of reserves into the financial system. IndyMac Bancorp Inc. and the former Countrywide Financial Corp., are also under. scrutiny.
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POPS"Happy Days" Home Buyers Get Mortgages --- Politicians Get Reelected Democrats — and their community organizer “constituencies” — argued that it was “discriminatory” for banks to deny mortgages and business loans to people with poor collateral, poor credit, and dubious ability to repay their loans. Legislators replaced common sense with gouts of political oration about “redlining inner city communities,” “racist banking practices,” and other electioneering formulations that protected incumbency, but shoved bank solvency to the end of a bending limb. The CRA allowed legislators to bully banks into loaning money to people who simply weren’t credit-worthy. The only “collateral” they possessed was electoral: They could repay Democratic lawmakers on Election Day. Now, let’s fast-forward to 1993, when the Clinton administration further liberalized (a.k.a. “reformed”) the already anemic lending restraints of the CRA and created the President’s Community Development Bank, which “…
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POPSThe Real Culprits - Part Two The Clinton-era corruption, combined with unprecedented catering to affordable-housing lobbyists, resulted in today's nationalization of both Fannie and Freddie, a move that is expected to cost taxpayers tens of billions of dollars.
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POPSWho Supported Fannie R E G U L A T I O N ? !! It never made it out of committee. Chris Dodd, then the ranking member of the Banking Committee and now its chair, was in the middle of receiving preferential loan treatment from Countrywide Mortgage, one of the companies gaming the system in the credit crisis. Meanwhile, Barack Obama took hundreds of thousands of dollars from the lobbyists McCain mentions in this speech, making him the #2 recipient of Fannie/Freddie money:
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POPSThe Wall Street Crooks, Elliot Spitzer and Financial Crisis Elliot Spitzer was after Countrywide and others, and was trying to get rid of the corruption on Wall Street. Several articles linked here and Savage's theory of why the crooks on Wall St. whom the government is now bailing out, wanted "the Sheriff of Wall St", Eliot Spitzer, out.
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POPSDemocrats: Fannie, Freddie And The Housing Crisis
and Freddie Mac and Fannie Mae are GSEs. The GSEs give to Democrats primarily. Republicans tried to reform it, but got out lobbied every time. In 2005, Republican Mike Oxley, then chairman of the House Financial Services Committee, brought up a reform bill (H.R. 1461), and Fannie and Freddie's lobbyists set out to weaken it. The bill was rendered so toothless that Card promised to oppose it and Oxley pulled the bill instead. When there was a Republican Congress, Congressional leadership tried to do the right thing, but Fannie and Freddie's lobbyists picked off some weak Republicans. With a Democratic Congress, Fannie and Freddie just feed at the trough. Third, these guys are some of the most powerful figures in the Democratic lobbyist-operative firmament. Obama was forced to fire James Johnson, his first VP Vetter. Johnson had been CEO of Fannie Mae. Johnson, while a consultant for Fannie and Countrywide, was passing out below market loans to Senator Dodd among others.
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POPSKer-Thump Another One Under The Bus The list of "bumper clinging" supporters, including Bernadine Dorhn and Bill Ayers, the two domestic terrorists that helped jump-start Barack Obama's political career. * Marilyn Katz (former SDS radical, Obama campaign PR professional) * Carl Davidson (former SDS radical, Fidel Castro Fan, webmaster of Progressives for Obama) * half-brother Abongo Obama, a militant Muslim * "Uncle Frank" Frank Marshall Davis, role model/mentor and member of the Communist Party USA, poet who authored "Smash-on, victory-eating Red Army" * Bill Ayers, domestic terrorist and long-time friend * Bernadine Dorhn, Ayer's wife, fellow domestic terrorist, and Manson Family admirer.
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POPSFBI Investigating IndyMac For Possible Loan Fraud Additionally, two former Bears Stearns managers were indicted last month on conspiracy and securities and wire fraud charges alleging they lied to investors in a hedge fund that tanked last year as the subprime market collapsed. Those charges marked the first criminal charges to arise on Wall Street from the subprime mortgage debacle.
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POPSAngelo Mozilo's Bedfellows For the sake of its shareholders and the taxpayers who are ultimately on the hook, Fannie should immediately launch an internal investigation into the terms offered to Countrywide, and exactly what role Messrs. Johnson and Raines played in the negotiation of these terms. Did these men exert any pressure on Fannie employees to do business with Countrywide? Congress also needs a full accounting of the contacts between Countrywide and the politicians receiving favors from the lender. Did Countrywide ask for and receive assistance from the Friends of Angelo? Meanwhile, until it is clear how much Countrywide will benefit from Senator Dodd's proposed $300 billion mortgage rescue – and exactly how Mr. Dodd came to do business with Countrywide – Congress should call a halt to legislating bailouts. Taxpayers deserve no less. http://online.wsj.com/article/SB121357125417575867.html?mod=opinion_main_review_and_outlooks
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POPSObama Pro Quo Senate Budget Committee Chairman Kent Conrad, D-N.D., who also chairs a subcommittee that oversees taxation and IRS oversight, had to donate $10,700 in loan savings from Countrywide when his deal came to light. Obama's veep vetter James Johnson quit after his Countrywide arrangement became known. Yet another Democrat's sweetheart mortgage deal is exposed — and this time it's the party's standard bearer. What could Sen. Barack Obama do for a lender in exchange for more than $100,000? Plenty. If Obama is animated by high ideals for the future, why are we finding so many lowdown deals in his past?
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POPSObscene Military Budget is much biger than Reported Legally see the article for the cuts behind the figures here: Now, imagine that, due to a little more Pentagon/Bush administration wizardry, even this black budget estimate is undoubtedly a low-ball figure. One reason is simple enough: The proposed $541 billion Pentagon 2009 budget doesn't even include money for actual wars. George W. Bush's wars are all paid for by "supplemental" bills like the $162 billion one Congress will soon pass -- so the Department of Defense's $34 billion black budget skips "war-related funding." This means that even the overall figure for that budget remains darker than we might imagine (as in "black hole"). The Pentagon not only produces stealth planes, it is, in budgetary terms, a stealth operation. If honestly accounted, the actual Pentagon yearly budget, including all the "military-related" funds salted away elsewhere, is probably now more than $1 trillion a year.
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POPSIllinois To Sue Countrywide And CEO Mozilo This is the first known case of a state authority charging Countrywide, the largest U.S. mortgage lender, for actions related to the housing crisis. It also comes on the same day the company's shareholders are expected to vote on its sale to Bank of America.
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POPSHousing Bill Threatens Personal Privacy Email Petition The Senate is currently considering a $300 billion mortgage bailout for the riskiest borrowers and their banks. Recently, it was revealed that Senator Chris Dodd (D-CT), the primary architect of the compromise bill that ultimately ended up on the Senate floor, had received a special “VIP” loan from Countrywide Financial, which stands to be one of the primary beneficiaries of the bill. Unfortunately, the irresponsible economics and the VIP scandal are only the tip of the iceberg when it comes to the bad policy in the mortgage bailout. Hidden within the bill is a provision added by Sen. Charles Grassley (R-IA) that would greatly expand the power of the Internal Revenue Service to monitor what Americans buy online. Sen. Grassley’s provision would require the nation’s electronic payment systems to track, aggregate, and report information on nearly every electronic transaction to the federal government.
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POPSThree Broadcast Networks Earned A Big Fat Zero Former Health and Human Services Secretary Donna Shalala and former U.N. ambassador and assistant Secretary of State Richard Holbrooke also benefited, as did one prominent Republican — former Secretary of Housing and Urban Development Alphonso Jackson. Shalala and Holbrooke had left public office when they got their deals. But it was reasonable for Mozilo to think they'd serve again in another Democratic administration. And what, many wonder, was the quid pro quo for all this? Just a month ago, in unusually harsh language, Dodd ripped into President Bush on the subprime mess and defended a $400 billion plan that would bail out the subprime lending industry — including Mozilo. The Democrats' initial response has been to stall. They hope the problem will disappear until after the election. They need to investigate it fully, immediately and without prejudice — or risk having it blow up in their faces.
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POPSCongress And The Countrywide Scandal As for Republicans, most members of the Senate Banking Committee voted for the Dodd-Frank bill in exchange for reforms of Fannie Mae and Freddie Mac. The reforms, part of a deal brokered by Sen. Richard Shelby (R., Ala.), create a new regulator to establish tougher standards for the portfolio holdings of Freddie and Fannie. While both of these agencies are in dire need of reform, this deal is still a mistake. By foisting this compromise on their Republican colleagues, Democrats are holding the reform of Fannie and Freddie hostage in order to increase bipartisan support for a bailout of reckless mortgage lenders. In a free market, businesses take risks and reap either profits or losses. But markets only work when businesses are held accountable for their bad decisions. The message this proposed legislation sends to the market is clear: Big lenders like Countrywide who make bad bets can count on generous bailouts
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POPS Friends Of Barack obvious conflict of interest. The company's code of conduct required prior approval of such arrangements. Neither Mr. Johnson nor Mr. Raines sought such approval, according to Fannie. One question is whether Messrs. Johnson and Raines were using their position to pad their own incomes that were already fabulous thanks to an implicit taxpayer subsidy. But the bigger issue is whether they steered Fannie policy into giving Mr. Mozilo and Countrywide favorable pricing, which means they helped to facilitate the mortgage boom and bust that Countrywide did so much to promote. A further federal probe would seem to be warranted, and we assume Barney Frank and his fellow mortgage moralists will want to dig into this palm-greasing from Capitol Hill. The irony here is that Mr. Obama has denounced Mr. Mozilo
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POPSer, uh, I mean, well...it is like this Soaring rhetoric, indeed. Finally, channeling Bill Clinton’s “is-is” parsing, Obama attempted to argue that his dubious veep selection committee members don’t really “work” for him: “They’re performing that job well. It’s a volunteer, unpaid position. And they’re giving me information, and I will then exercise judgment in terms of who I want to select as a vice presidential candidate. So these aren’t folks who are working for me, they’re not people I have assigned to a particular job in a future administration.” There are only so many gaffes, missteps, mistakes, flubs, and self-delusional statements one can make before serial naivete becomes endemic stupidity. Obama has reached the point of no return.
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