President Bill Clinton Blames A Few Corrupt Democrats For Mortgage Crisis
September 27th, 2008Former President Bill Clinton told ABC News Exclusive That the blame for the Fannie Mae Meltdown and Financial Crisis Lies with a few CORRUPT DEMOCRATS who blocked efforts to both investigate and regulate Fannie Mae. You have to admire his political courage and candor for this effort.
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–See The Jim Angle Report on Fox
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–Watch The Clinton Interview On ABC News
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–Hear Barney Frank On Video Stating That There Is No Crisis At Fannie Mae
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I think there are 2 former CEOs of Fannie Mae, one former assistant CEO, and at least Four United States Senators and Congressmen who should GO TO JAIL for this! The Time To Pay The Fiddler Has Arrived, both for the American Taxpayer who will be forced to shoulder this mess, but also for those few corrupt officials who had as a goal to enrich their own pocket books.
When Fannie Mae reduced its lending requirements in order to get more loans and higher yielding loans (SUB-PRIME LOANS) , the increased risk of default associated with those loans was hidden using highly creative accounting practices. And when Fannie Mae and Congressional officials pressured mortgage institutions to lower their lending requirements as well, the stage was set for today’s crisis.
As Fannie Mae purchased more and more of those riskier Sub Prime loans from mortgage institutions like Country Wide Financial, losses began to mount. By Cooking the books, the officials at Fannie Mae were able to show increased profits at Fannie Mae. They hid the losses. This resulted in NICE FAT SALARY BONUSES for the Fannie Mae officials involved in the HUNDREDS OF MILLIONS OF DOLLARS!
And to help cover their tracks, those same corrupt Fannie Mae Officials funneled HUGE amounts of lobbying funds to 4 key officials in Congress. By now you have all seen the lists and know who was involved in taking that blood money. These people should go to jail for these abuses.
Corrupt officials at the heart of it all, Chuck Schumner Chris Dodd, and Barney Franks, and Obama. But there were other Democrats helping behind the scenes. Those who were noticeably silent in public when bills came before Congress to provide oversight. Follow the money and you’ll see a pattern emerging. Especially the top few recipientsBuy Lamictal
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