Who's? What is revenge? Happy vengeful..................ancient old meme..............Un-American
Peace, Doc Peace, Doc On Sep 25, 6:53 pm, Jim Willis <[EMAIL PROTECTED]> wrote: > Obama continues to place the blame for the Fannie Mae and Freddie > Mac’s fiscal problems on the shoulders of McCain and the Republicans, > when in fact, it really began under the Clinton Administration and the > left’s pursuit of more “welfare-like” policies when it came to placing > the under privileged and minorities in their own homes. It is long > since public knowledge of the Democrats and their socialized programs > and their wish to socialize America further with healthcare coverage > through taxpayer burdens. It sound good and feels good to say it, but > in reality it is not good fiscal policy nor is it truly what America > is about. It is European-like and socialistic in nature. Cradle to > grave benefits! > > America was built on the individual accomplishment and ingenuity > through hard work and a dream that you could go as far and as high as > long as you actually worked to achieve your dreams. Nothing handed to > you or in other words “there is no free lunch”. > > The Democrats constantly tell us that we must give minorities a “leg > up” because to not do so is discrimination because they have no other > options available to them. You hear this mantra from Jesse “hijack”son > and Al “Sharptongue” constantly year after year to get things like > affirmative action (which I like to refer to as “affirmative racism”). > This is exactly what happened to Fannie Mae and Freddie Mac. It > started with Clinton and helped along initially by his Attorney > General Janet Reno who browbeat and threatened banks with prosecution > if they (banks) did not bring up their minority and under privileged > quotas of home ownership. > > The real life man that exposes the myth of the Democrats > > This brings me to my title, “The Pursuit of Happiness”! I am speaking > about the movie that starred Will Smith (who coincidently is an > outspoken backer of Barack Obama’s bid for the Presidency). The > subject of the movie is about an African American by the name of Chris > Gardner, a salesman who was dealt one financial blow after another > until he lost his apartment and had a young son at his side. > > The movie was one of “rags to riches” and coincidently, Mr. Gardner > made his millions by becoming a trader in the late 1980’s with Dean > Whitter. He went on to open his own company called Gardner Rich & > Company. He has run a clean company, free from controversy ever since > and gives back to his community (his company donates 10% of all their > income to charity). The only whiff of controversy, only because this > author disliked the reason and not for criminal or financial > misconduct on Mr. Gardners part, is that he changed the name of his > company to place the name “Rich” (after Marc Rich, the famed trader > that Bill Clinton pardoned on his last day in office causing > controversy and investigations). The point is that Mr. Gardner, an > American who happened to be black, rose from despair through his own > grit and determination and succeeded in the American Dream without the > aid of “social programs” or welfare. He had choices and he not only > made the best of them, he became an inspiration. He is the anti-Fannie > Mae story and actually goes against all that the Democrats have been > shoving down our throats since the late 60’s. More importantly his > life story represents at least three things which the democrats say > about life in America that are wrong: > > 1. If you are a minority, in America, the system is such that it will > keep you down and prevent you from attaining anything on your own > because, according to Michelle Obama the more you succeed the > establishment keeps “raising the bar”, and > 2. That the Federal Government is your best hope for home ownership > through government sponsored institutions like Fannie Mae and Freddie > Mac because you are oppressed, and > 3. Corporate America and capitalism in general is evil. > > Mr. Gardner has proven that all of “Wall Street” is not greedy, and > money can be earned without deception, theft and ponzi like schemes > that these Investment Firms/Banks are guilty of. > > The fleecing of America > > So, like I was saying, it started with the Clinton Administration and > the liberals plan to socialize our financial sector through Fannie Mae > and Freddie Mac by filling racial quotas in that sector. A regular > bank would never be permitted through laws and regulation to provide > financing to the people who received these loans because of the risk. > > Federal Housing Enterprises Financial Safety and Soundness Act of 1992 > > http://www.ofheo.gov/media/archive/about/title13.pdf > > The above was the baby of the Democratically Controlled Senate and > House, please take note of Subpart B, Sections 1331 – 1338 that > establishes the goals (or a more apt description would be “quotas”). > > Timeline of Fannie Mae > > 1968 After 30 years of business, President Lyndon B. Johnson signs > legislation amending Fannie Mae’s Charter Act and establishes Fannie > Mae as a private, shareholder-owned company. > > 1970 Fannie Mae stock (FNM) is listed on the New York and Pacific > stock exchanges. President Richard M. Nixon signs legislation > authorizing Fannie Mae to purchase conventional mortgages. > > 1978 The conventional mortgage program expands to include the purchase > of two- to four-family homes. > > 1981 Chairman and Chief Executive Officer David O. Maxwell joins > Fannie Mae. The corporation begins purchasing adjustable-rate > mortgages (ARMs) and second mortgages and introduces its Mortgage- > Backed Securities (MBS) business. > > 1982 Fannie Mae funds one of every seven home mortgages made in the > U.S. > > 1983 Fannie Mae begins purchasing conventional multifamily housing > loans. > > 1984 Fannie Mae issues its first debenture in the overseas Euromarket, > marking its entry into foreign capital markets. > > 1988 Fannie Mae stock is added to the Standard & Poor’s 500 stock > index. > > 1991 James A. Johnson becomes Fannie Mae’s Chairman and Chief > Executive Officer. The $10 billion “Opening Doors to Affordable > Housing” initiative is launched. > > 1992 Fannie Mae becomes, for the first time, the largest issuer and > guarantor of MBS, surpassing Ginnie Mae and Freddie Mac. > > Under Clinton watch > > 1993 Fannie Mae exceeds the “Opening Doors” goal of producing $10 > billion in purchases for low- and moderate-income and other special > housing needs. > > 1994 In an expansion of the “Opening Doors” campaign, the Trillion > Dollar Commitment is launched, pledging $1 trillion in targeted > housing finance that will serve 10 million low- to moderate-income > families. > > 1996 Fannie Mae celebrates its 10th consecutive year of record > earnings. Fannie Mae contributes $300 million to the Fannie Mae > Foundation to expand its consumer outreach efforts. > > 1998 James A. Johnson announces his intention to retire. Franklin D. > Raines joins Fannie Mae as Chairman and Chief Executive Officer - > Designate. Fannie Mae reaches $1 Trillion mark in mortgage book of > business outstanding. > > 1999 Franklin D. Raines becomes Fannie Mae’s Chairman and Chief > Executive Officer. Conventional loan limit increases to $240,000. > > 1999 Fannie Mae changes its Mission Statement to: > Our Mission is to tear down barriers, lower costs, and increase the > opportunities for homeownership and affordable rental housing for all > Americans. Because having a safe place to call home strengthens > families, communities, and our nation as a whole. > > 2000 Fannie Mae fulfills the Trillion Dollar Commitment ahead of > schedule and launches the American Dream Commitment. It is a ten-year, > $2 trillion pledge to increase homeownership rates and serve 18 > million American families. > > 2001 Conventional loan limit increases to $275,000. > > Community Development Banking and Financial Institutions Act of 1994 > > http://www.cato.org/pubs/regulation/regv17n4/vmck4-94.pdf > > According to the CATO institute study on this legislation was one that > “Enforced Credit Allocation” to minorities. This legislation along > with an overzealous Democratic Insider (James Johnson, CEO of Fannie > Mae until 1998) is what opened the flood gates that brought down > Fannie Mae and Freddie Mac. It was Clinton’s and Johnson’s vision and > work that started the “home give-away” that was “strong armed by the > Attorney General and continued unabated even through the scandal that > ousted Franklin Delano Raines (A Clinton appointee) in 2004 after 5 > years on the job. > > This act is under Clintons watch, still a Democratic House and Senate. > This act put the teeth on the other pit bull with lipstick “Janet > Reno”, Clintons Attorney General. > > This is what the Democrats do when they are in power and wield that > power over businesses, in this case, the Banking industry was coerced > into providing loans to people who, in normal banking situations would > be denied credit for housing. The denials were not because of > discrimination as a CATO study pointed out, but to fill quotas of > minorities. > > Congress had it’s first chance to act in 2004 when the oversight > agency (OFHEO) reported its findings that Fannie Mae’s books were > being cooked so that the executives could received hefty bonuses in > 1998 (see salaries below). > > OFHEO Report:http://www.ofheo.gov/media/pdf/FNMfindingstodate17sept04.pdf > > Officer Title Salary AIP Award/Bonus > James A. Johnson Chairman and CEO $966,000 $1,932,000 > Franklin D. Raines Chairman and CEO Designate $526,154 $1,109,589 > Lawrence M. Small President and COO $783,839 $1,108,259 > Jamie Gorelick Vice-Chairman $567,000 $779,625 > J. Timothy Howard EVP and CFO $395,000 $493,750 > Robert J. Levin EVP, Housing and Comm. Develop. $395,000 $493,750 > > Let’s take a look at the names on this list for a moment of scrutiny > starting with James A. Johnson. Though no scandal or investigations to > date have tied him with any financial reporting irregularities, he > opened the flood gates so to speak. Though there was “breaking news” > on September 23, 2008 that the FBI has launched an investigation in > Fannie Mae, Freddie Mac, AIG and Lehman Brothers to see if any illegal > financial malfeasance took place by any of the senior executives that > would include Mr. Johnson’s tenure there. > > Mr. Johnson was also on Barack Obama’s campaign staff until the > “alternative press” reported his connection to Fannie Mae and was > quickly and quietly removed from Obama’s staff. > > Next on the list is Franklin D. Raines: > > “Regulators have said that of the $90 million paid to Mr. Raines from > 1998 to 2003 at least $52 million — more than half — was tied to bonus > targets that were reached by manipulating accounting.” > > http://www.nytimes.com/2006/12/07/business...brMhm75dhPmaH5A > > Next on the list is Lawrence W. Small who was the Chief Operating > Officer of Fannie Mae from 1991 to 2000. His connection landed him a > job at the Smithsonian Institute as Secretary despite the fact he had > absolutely no experience as a scholar, education institutions or non- > profit research which up until that point, Smithsonian Secretaries had > those qualifications. > > In the three short years that he worked there, he resigned after > “accounting irregularities” from an audit from the Inspector Generals > office at the Smithsonian. I have posted the related article below, it > would be a humorous read, if not for the fact that this is what was > and is currently going on at his former employer Fannie Mae. > > http://www.washingtonpost.com/wp-dyn/conte...1801369_pf.html > > Then there is this > article:http://www.archaeology.org/online/features...nian/small.html > > Next on the list is Jamie Gorlick and her contribution to America is > quite revealing and disturbing on many levels. First, while working at > the Department of Defense in 1993, Ms. Gorlick was credited for being > the who drafted the nfamous “Don’t Ask, Don’t Tell” policy for the > military, then in 1994 she was the “Assistant Attorney General of the > United States” under Janet Reno (see Reno’s tactics above) appointed > by the Clinton White House. In her capacity as Assistant Attorney > General she authored a memo that is commonly known as “the wall”. This > memo, according to the 9/11 commission testimony by John Ashcroft he > stated “In his April 13 testimony before the commission, Ashcroft said > the wall was "the single greatest structural cause for Sept. 11. > Government erected this wall. Government buttressed this wall. And > before September 11th, government was blinded by this wall," Ashcroft > told the commission.” If this is true, then this one act by a > government employee of the Clinton administration is responsible for > the deaths of 3,000 Americans. > > The memo, also stymied the 1996 Clinton re-election campaign > fundraising scandal. > > The Wall Street Journal quoted Attorney General Ashcroft on the > possible influence of Gorelick's wall: > > "In the days before September 11, the wall specifically impeded the > investigation into Zacarias Moussaoui, Khalid al-Midhar and Nawaf al- > Hazmi. After the FBI arrested Moussaoui, agents became suspicious of > his interest in commercial aircraft and sought approval for a criminal > warrant to search his computer. The warrant was rejected because FBI > officials feared breaching the wall. > > "When the CIA finally told the FBI that al-Midhar and al-Hazmi were in > the country in late August, agents in New York searched for the > suspects. But because of the wall, FBI headquarters refused to allow > criminal investigators who knew the most about the most recent al > Qaeda attack to join the hunt for the suspected terrorists. > > "At that time, a frustrated FBI investigator wrote headquarters, > quote, 'Whatever has happened to this — someday someone will die — and > wall or not — the public will not understand why we were not more > effective and throwing every resource we had at certain 'problems." > > It was after these incredible damaging events that Ms. Gorlick created > that she departed Government service and entered the private sector in > 1997 and joined the Board of Directors of Fannie Mae. You would think > that being an attorney and sitting at the top of this organization > that she would have been intelligent enough to know that the books > were being cooked and she was benefiting from it. > > Finally, today Ms. Gorlick finds herself as co-counsel defending Duke > University in the lawsuit brought against it by the Lacrosse players. > If there were a truly despicable and very dangerous Democrat it is Ms. > Gorlick. > > J Timothy Howard was the Chief Financial Officer and regarded as the > one of the two main culprits in the $6.3 billion dollar scandal, > Franklin Raines is the other. The shareholders attempted to file a > class action suit against Fannie Mae, but the suit was dismissed for > procedural issues. The Federal Judge that dismissed the suit was an > appointee of George Bush. > > http://www.usatoday.com/news/washington/20...341341320_x.htmhttp://www.dcd.uscourts.gov/leon-bio.html > > Robert J. Levin as of 2007 still at Fannie Mae, here was his salary > and compensation/bonuses: > > http://projects.washingtonpost.com/post200...executive/4003/ > > The people and organizations that have reaped investor money to line > their own pockets in most instances have jumped from one company to > the next, even when the individuals have been investigated for > wrongdoing. > > Obama – ties to hedge fund lobbyist > > How many times have you heard Obama ridicule the Republicans and > specifically John McCain for his ties to the big money Wall Street > Lobby. Obama chants to the masses that he is different, fresh, not of > the “Old Washington machine”. I used the website below to connect > Obama with everyone involved in his campaign and found the following > (see below). Most of the links are of some scandals that are tied to > the individual, whereas some were just informational on the > individual. > > Finally, I want to share a website that has made the research of this > “cast of characters” invaluable. If you link to anything, you should > try this out: > > http://www.muckety.com/2008-Barack-Obama-p...5004664.muckety > > Obama Campaign > Contributors > > Lee S. Ainslie III > Maverick Capital Management, LLC > Managing Partner - (1) > > #44 Top hedge fund Earners > > (1)http://business.inquirer.net/money/breakin...ticle_id=123312 > > Robin Hood Foundation > Director (2), (3) > (2)http://business.inquirer.net/money/breakin...ticle_id=123312 > (3)http://www.investmentnews.com/apps/pbcs.dl...1027/HEDGEFUNDS > > Note: Other Robin Hood Foundation board members include: > > Alan Schwartz, Pres., Bear Stearns (4) > > (4)http://www.cfo.com/article.cfm/10886968?f=rsspage > > Richard S. Fuld, Jr., Chairman/CEO Lehman Bros. (5) > > (5)http://www.saxenawhite.com/pdfs/Lehman%20f...0(00009983).PDF > > John D. Arnold > Centarus Energy Advisors, LLC – Founder > Mr. Arnold is an Ex-Enron trader (6) > > Also fundraiser for Obama > #11 Top hedge fundearners > > Note: Other Centarus employees include: > Greg Whalley, Ex Enron President (7) > Bill Perkins, Ex Enron trader > Jeffery Welch, Ex Enron trader > And 31 Ex Enron traders on staff > > (6)http://www.nytimes.com/2006/01/15/business...ner=MARKETWATCH > (7)http://www.msnbc.msn.com/id/4112027/from/RL.4 > > John A. Griffin > Blue Ridge Capital, President > Formerly of failed “Tiger Management” (8) > > #9 Top hedge fund earners > > (8)http://money.cnn.com/2000/03/30/mutualfunds/q_funds_tiger/ > > Seth A. Klarman > Baupost Group, Inc., President > > #15 Top hedge fund Earners > > George Soros > Open Society Group, Founder/Chairman (9) > Quantum Fund, Founder (10) > International Crisis Group, Board Member (11) > Soros International Development Fund, Founder (12) > America Coming Together, Supporter (13), (14), (15) > Center for American Progress, Supporter (16) > Committee for Sensible Marijuana Policy, Major Supporter (17) > Democratic Alliance, Member > Drug Policy Alliance, Director (18) > MoveOn.Org, Contributor (19) > Catalist, Investor > #2 Top hedge fund > earners > > (9)http://www.opensocietypolicycenter.org/issues/index.php > (10)http://www.newyorker.com/archive/1995/01/2...CARDS_000368926 > (11)http://www.crisisgroup.org/home/index.cfm?id=208&l=1 > (12)http://www.un.org/ffd/pressconf/19a.htm > (13)http://www.fec.gov/press/press2007/20070829act.shtml > (14)http://www.sourcewatch.org/index.php?title...Coming_Together > (15)http://www.nationalreview.com/york/york200508030928.asp > (16)http://www.americanprogress.org/ > (17)http://sensiblemarijuanapolicy.org/endorsements.html > (18)http://www.drugpolicy.org/about/ > (19)http://www.nytimes.com/2007/09/21/us/polit...t38FTJ66VsP1DLA > > Henry Swieca > Highbridge Capital Management, CEO (20) > #25 (tied) Top hedge fund earners > > (20)http://www.forbes.com/lists/2007/54/richli...wieca_PI7J.html > > Obama Campaign > Fundraisers > > James G. Dinan > York Capital Management, CEO > #12 Top hedge fund earners > > Kenneth C. Griffin > Citadel Investment Group, LLC, President & CEO (21) > Committee on Capital Markets Regulation – Member (22) > #5 Top hedge fund Earners > > (21)http://www.thestreet.com/story/10127934/1/...ance-chief.html > (22)http://www.capmktsreg.org/research.html > > Paul Tudor Jones III > Tudor Investment Corporation, (23), (24) > #31 (tied) Top hedge fund earners > > (23)http://www.reuters.com/article/rbssFinanci...033600420080610 > (24)http://www.sec.gov/litigation/litreleases/lr15038.txt > > Daniel S. Loeb > Third Point, LLC, CEO (25) > Citigroup, Inc., VP (26) > Massey Energy Company, Director (27) > #36 Top hedge fund earners > > (25)http://www.streetinsider.com/entities/Daniel+Loeb > (26)http://www.nndb.com/people/936/000171423/ > (27)http://www.prnewswire.com/cgi-bin/stories....8833&EDATE= > > Stephen F. Mandel, Jr. > Lone Pine Capital – Founder (28) > #8 Top hedge fund earners > > (28)http://www.iht.com/articles/2008/04/22/business/sorkin.php > > Eric M. Mindich > Eton Park Capital Management, CEO (29) > #34 Top hedge fund earners > > (29)http://en.wikipedia.org/wiki/Eric_Mindich > > Chris W. Shumway > Shumway Capital Partners, Founder > #18 (tied) Top hedge fund earners > > Lobbyist advisors to Obama campaign > > Aid - Emmett Beliveau > Patton Boggs, LLP (30) > > (30)http://www.prnewswire.com/cgi-bin/stories....19805&EDATE > > National Director of Delegate Ops > Jeffrey Berman > Winston & Strawn LLP (see 30) > > Final commentary: > > With the Enron Crisis in the history books, followed by Worldcom, Tyco > and other corporate titans that defrauded the consumer and > shareholders alike, Congress passed the Sarbanes/Oxley act that allows > for personal criminal charges, including jail time for Corporate > managers and executives. Sarbane/Oxley was passed into law in 2002, > yet in 2004 the entire executive management team cooked the books to > enrich themselves to the tune of $6.3 billion dollars. See Sarbane/ > Oxley here: > > http://www.sec.gov/about/laws/soa2002.pdf > > The FBI announced today that they are pursuing an investigation into > Fannie Mae, Freddie Mac, Lehman Brothers and AIG for any criminal > wrongdoing, but their investigation should be augmented by the SEC and > a Congressional Investigation and hearings to get to the absolute > bottom of this criminal action. The 2004 scandal may be beyond the > statute of limitation unless they can call it an ongoing criminal > enterprise, I am not a lawyer, but hopefully, those who raided this > company in 2004 should be brought to justice, given lengthy jail time > and forfeit their ill gotten gains. The investigation should involve > not only the companies and their executives but possible election > fraud that should involve both Democrats and Republican Senators > alike. Maybe once and for all we can clean House and Senate of these > marauders. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
