Gaar, And the Republicans DON'T???
On Oct 2, 1:03 pm, Gaar <[EMAIL PROTECTED]> wrote: > I am starting to believe that the Liberals around here don't give a > shit... > > All they want is to get the Presidency and both Houses of Congress, no > matter what. > > And then we wonder how we get into the shit we do... > > On Oct 2, 6:30 am, "Keith In Tampa" <[EMAIL PROTECTED]> wrote: > > > > > I don't know if this helps or not, but to try and clarify or to at least add > > to the history of how this debacle started; > > > First, the "Fannie Mae" that was created in 1938 by President Roosevelt is > > not at all the same Fannie Mae that was created in 1968 by Lyndon Johnson, > > nor does the 1968 "Fannie Mae" resemble the Fannie Mae that was created in > > 1996-1999 by the Clinton Administration. Just a quick "Reader's Digest" > > abridged version; In 1968, President Johnson privatized Fannie Mae in order > > to remove it from the national budget. At this point, Fannie Mae began > > operating as a "quasi-governmental" corporation, (called a "government > > sponsored enterprise") which generated profits for stock holders while > > enjoying the benefits of exemption from taxation and oversight as well as > > implied government backing. Freddie Mac was created in 1970 in order to > > prevent any monopolization of the GSE market. > > >http://en.wikipedia.org/wiki/Fannie_Mae > > > The Fannie Mae that we are talking about in 2008, was in fact a creation of > > the Clinton Administration, and the 105th and 106th Congress. One of the > > biggest changes to Fannie Mae, as well as the overall banking industry came > > in 1996 when Alan Greenspan issued a ruling allowing bank investment > > affiliates to have up to a quarter of their business in investments. > > >http://www.nerepublican.com/index.php/2008/09/22/mules-rinos-and-very... > > > In particular, President Clinton, in essence, repealed the > > "Glass-Steagall" Act, and as I am sure most group members recall, (as I do) > > the theory was, that America's financial competitiveness was being hampered > > in comparison to Europe's and the emerging economies of Russia and China. > > That we needed the "Gramm-Leach-Bliley" Act, in order to make America's > > lending institutions viable and competitive. > > > If you go and look at other posts in this thread, by me, and other members, > > I think the rest of the history falls into place.- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ 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. -~----------~----~----~----~------~----~------~--~---
