What will happen to Fannie and Freddie? So you think Obama’s a socialist? (Update)(Update2)

Recently on The O’Reilly Factor:

The question is asked, “So you think Obama’s a socialist?”

Newt Gingrich says, “Sure.  Of course he is.”

Bill O’Reilly says, “I think he’s Lyndon Johnson on steriods.”

Listen to the whole exchange:

Here’s link to the interview:  http://www.youtube.com/watch?v=4ra6P6dG4v8

Bill O’Reilly starts out by making this statement:  “Socialist? – [does that mean that] if he could, he’d take your house because that’s what socialists do?”

My opinion, I think he would without a doubt take total control of everything, including your house.  Valerie Jarrett makes a telling comment while discussing how simple-minded the Tea Partiers are, how they are in need of a brochure or phamplet to explain health care to them in terms they can understand :), she said, referring to health care –

“If he (President Obama) could do it unilaterally, he would have done it a long time ago, I can assure you of that.” [At 2:24]

I heard the President make a similar statement himself recently.  And I am sure he would, but that pesky congress keeps getting in the way.  I think Obama wants to rule, not govern.  What was it President Bush said?  “Dictators are fine as long as I’m the dictator.”

But back to houses:

Barney Frank, the chairman of the House Financial Services Committee, called Friday for a new system for providing money for home loans and the elimination of Fannie Mae and Freddie Mac.

“I believe this committee [The House Financial Services Committee] will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance,” Mr. Frank said at a hearing on executive compensation issues. “That’s the approach, rather than the piecemeal one.”

While chief executives of Fannie and Freddie could be paid upwards of $6 million for 2009, the Obama administration has said they will cover UNLIMITED LOSSES through 2012.

I wonder why now suddenly Barney Frank wants to dismantle Fannie and Freddie.  Some believe they should be privitized and some think they should become full fledged government agencies.  The Obama administration is supposed to address their position when the budget is released next month.

“If he could, he’d take your house because that’s what socialists do.”  I think this was meant to demonstrate that since Obama was not taking any houses, then he could not be a socialist.

Freddie and Fannie already owns or guarantees about 31 million home loans, which is about half of all the mortgages in the United States.  Now, if Fannie and Freddie become federal agencies, then who would actually own these homes?

I would like to know why Mr. Fannie and Freddie, Barney Frank, is now advocating they be dismantled.

Something smells.

UPDATE:  Fannie Mae seeks ANOTHER  $15 billion from their UNLIMITED draw on the U. S. Treasury. (They’ve already gotten $60 billion since April.) Bloomberg.

UPDATE:  Here’s another article on Fannie and Freddie asking for more money. Friday Debt Dump/Newsbusters.

A comment left by Taqiyyotomist

on Gateway Pundit referencing this Friday Dump piece:

“”Jim, I don’t know if you’ve seen this:
“After the closing bell on Friday, just in time for everyone to stop paying close attention, mortgage behemoth and ward of the state Fannie Mae (“Fan”) released its fourth-quarter and full-year financial results. Its press release (PDF) informs us that its $74.4 billion loss in 2009 (inclusive of dividends paid to the government) followed a $58.8 billion loss in 2008. ”

Friday Debt Dump. These people who just lost, apparantly, four times as much money as Bernie Madoff embezzled, and three times as much money as Enron “lost”.

Madoff and Ken Lay are in JAIL. **

The people who did this are our president, Chris Dodd, Barney Frank, Franklin Raines, and a host of other looters who should also be sent to JAIL, and with a term length in proportion to those given to Madoff and Lay. If not more.

But no, they still pretend to run our country, while embezzling better than the best and most notorious embezzlers. Now Fannie and Freddie want another $15 billion.

And then there are the millions of people who took home loans that they lied about their income to get. Then there are the community organizers who convinced millions to do this. Then there is the entire social-service government sector whose employees, like ACORN employees, advise the poor on new and improved ways of lying on the forms, filling in all the proper fields with just the right lies.

This nation is due some serious justice. Justice is sorely lacking now. The embezzlers are in charge.””

**Note: [Well, Ken Lay was headed to jail but died before he could get there.]

 

See Previous Post

Also, Here and Here Sources.

H/T to KJ at You Have to Be This Tall Blog.

Posted: 02.24.10  Update:  02.26.10  Update2:  02.27.10

46 Comments

Filed under Barack Obama, Financial Crisis, Human Interest, politics, President Barack Obama, Uncategorized

46 responses to “What will happen to Fannie and Freddie? So you think Obama’s a socialist? (Update)(Update2)

  1. bellalu0

    scream scream scream

    So the almighty congress is questioning Toyota, grilling the head guy here.

    First, how much does the United States gov. own of the GM Corporation? Is it 60% – 80%?? Does anybody see a problem with this? Seeing as how the power of the government is now directed at a COMPETITOR?

    Plus it is disgusting to watch these people in congress question anybody. I WANT TO KNOW WHEN there will be a citizen panel ORGANIZED TO QUESTION THEM!!!!! WHEN???

    They have sold our country down the drain and NOBODY EVER GETS TO QUESTION THEM. I HAVE A FEW QUESTIONS ESPECIALLY FOR CHRIS DODD AND BARNEY FRANK, who were in CHARGE of the committees who were SUPPOSED to oversee the financial situation.

  2. Ms. M

    maybe for our own sanity we need to impose a moratorium on the MSM (make sh*t meaningful)? I’m kinda past the point of being ready LOL LOL LOL

    I think that CPAC straw poll of Ron Paul being the #1 contender for 2012 very telling….stat reported mostly college age………Maybe the rose colored glasses are coming off & the future isn’t looking so bright……..perhaps generation zero is having a common sense awakening………

  3. Ms. M

    Bella, damn right the take over of American companies by the public sector pi$$es me off, as well as the grilling of a ‘foreign” competitor…..but (& this is for my little friend lil sis) this is the result of that wonderful piece of legislation signed into law by billy clinton, NAFTA/GATT which the lamestream media is NOW calling free trade…….our country was founding on freedoms & developed into an INDUSTRIALIZED NATION, because of our resources, all that changed with a stoke of a pen………so I guess in a twisted way you can see where the pen is mightier than the sword but that’s not what (I think) Franklin meant when he said it………..I believe that reference was to FREEDOM OF THE PRESS, not executive power or privilege……….How are the legions of two doing in the sandbox? LOL LOL LOL LOL

  4. bellalu0

    I just don’t know what to think, the government owning private companies is just crazy.

    I just think this looks very bad. Just my opinion, I think these Japanese guys have much more honor than the scumbags questioning them….It’s not right. Just strikes me as not right.

    They are humiliating them. That is NOT GOOD.

  5. bellalu0

    jI’m turning it off before my head explodes!!!

  6. Ms. M

    well Bella, self entitled power given scumbags always confuse humilation as a RIGHT….look what they say about their constituency for God sakes…..way past time for them all to be sent packing imHO…………

  7. bellalu0

    http://www.breitbart.tv/obamas-bff-likes-idea-of-simple-booklets-to-educate-typical-tea-partiers/

    This is funny. If we could only get a brochure, we might be able to understand things.

    A.B.C.D.E.F.G now I know my ABC’s. 🙂

  8. Ms. M

    obama’s bff need simple brochures issued on the history of our Nation & the founding fathers intent on a self governing experiment that has been more than compromised by the entitled

  9. Ms. M

    haley Barbour is coming to the defense of Toyota….anybody feel like we are living in a pressure cooker? LOL LOL LOL

  10. bellalu0

    Oh, my, I guess I’m with Haley Barbour, but what you want to bet there’s a few places in Mississippi making Toyota parts???

    But honest to God I could not watch that hearing where those guys were being humiliated. I really don’t know, they may be in the wrong, but it’s kind of like the other hearings you see, the ones asking the question are the ones who created the problem to begin with.

    I’ll tell you, I want to have a panel questioning our so-called representatives. And I want to be on it.

  11. bellalu0

    Maybe we can open a business to make the effing brochures, thereby helping us understand and also providing a few jobs and helping the economy. A good ole government contract, in other words. And we could also print some little phamplets on the constitution while we’re at it to send to washington.

  12. Ms. M

    who knows is there a Toyota plant in Barbours state built with state taxpayers dollars? Oh the web we weave when we attempt to deceive….I don’t know but it really is like they want US to explode…..remember when incompetence was held to an accountible standard? I’ll say it again, they ALL need to GO except for Ron Paul of course & I hope Kentucky gets it right & sends his kid to Washington too……where is everybody these days? IHO ROLL CALL! LOL LOL LOL

    Bella, I think we got it correct & those imbeciles who think we need brochures are self entitled elitists who think we are the little people & it is ok to look down on US…..what they don’t know is they do provide shade on a hot day LOL LOL LOL

  13. bellalu0

    Haha. Surprise. Surprise. Surprise.

    “”Remarks Of Mississippi Governor Haley Barbour On Announcing Toyota Motor Corporation Assembly Plant””

    http://www.allamericanpatriots.com/node/20209

  14. bellalu0

    Oh, no, the FBI has raided Toyota offices. Dear God, abuse of power.

    Well, I see Beck is saying “conflict of interest.”

  15. Ms. M

    not surprised at all………but I do believe & I remember reading this somewhere, esp when I tried to school lil sis on all the detrimental effects of NAFTA/GATT, that EVERY foreign car plant built on AMERICAN soil was built with that states taxpayers dollars……….not the companies own CAPITAL…….& somewhere in that there equation I smell GRAFT LOL LOL LOL AS WELL, GM’s bailout with our money, the only jobs & plants closed were on AMERICAN SOIL, none overseas, Canada or Mexico & I would like to know how many “informed” voters know that STAT LOL LOL LOL

  16. Ms. M

    if the ill informed are reading this GOTTA LOVE billy clintons signing NAFTA/GATT into law eh? LOL LOL LOL

  17. Ms. M

    but of course the more imploring question to me is why organized labor would keep supporting the workingman’s party? LOL LOL LOL

  18. Ms. M

    esp since they if still employed will be paying for all the BAILOUTS & ENTITLEMENTS! can’t make this stuff up!

  19. Tim Geithner no change in Freddie and Fanny till 2011 so after the November elections. I think Barney Frank is feeling the pressure from his constiuents. Remember Scott Brown a Republican is now serving in a seat that used to belong to the biggest liberal in the Senate Teddy Kennedy.

    http://www.courierpostonline.com/article/20100225/BUSINESS/2250337/No-change-to-Fannie-Freddie-until-2011

  20. As far as being a socialist…does Barack Obama need to be a socialist to keep up the status quo?

    He has Progressive leaders in the House and the Senate to pass “Wealth Redistribution” for him. And lets not forget George W Bush pre socialized the economy for him so…all he has to say is I am for the Free Market. I don’t want to run a car company but he does, we own a lot of GM and Chrysler…I don’t want to run an Insurance company, but we are heavily invested in A.I.G. what about the Banks? What about Fannie and Freddie, and the notes they hold? I mean sure Barack H Obama doesn’t want to take over 1/6 of the economy through Health Care Insurance reform…but what choice does he have LMAO. If people fall for this hog swallow, they deserve to live on the Government’s Reservation.

    Thomas Jefferson stated “People get the government they deserve”

    Truer words were never spoken, except maybe these:

    Benjamin Franklin is believed to have said, ‘They that can give up essential liberty to obtain a little safety deserve neither liberty nor safety.

  21. Oh and this is the funniest thing I have watched on you tube in a long time.

  22. bellalu0

    Harry Reid is lecturing. I wonder if has any idea how much he is disliked and distrusted.

    Question: Is Jesus a citizen? Just askin’.

    Not THE Jesus but the one he is talking about in Nevada. LOL.

  23. bellalu0

    Okay. We have had Obama. Alexander. Pelosi. Reid. Back to Obama. Is there a pattern here?

  24. bellalu0

    Almost an hour now.

    We have to deal with costs. Obama still talking.

    Pelosi talked about what they have to do “for the American people.”

    Reid gave some poll 58% would be disappointed or angry if health care was not passed this year. He didn’t mention the poll that says 56% OPPOSE the health care bill they are discussing today.

  25. bellalu0

    And Reid gave the story about Jesus Gueterrez and the child with cleft pallet.

    Obama still talking

    Alexander rebutting Obama.

    Obama says no, no, no.

    Won’t let him talk.

    He said Alexander was not factually accurate.

  26. bellalu0

    Obama is arguing with Alexander.

    Won’t let Alexander say a word.

  27. bellalu0

    It’s very important to understand we have tried to take every cost containment out there and put it in the bill. Obama says.

    What ideas do you guys have you don’t think are in the bill.

    Make sure that you maybe suggerst some of the ideas currently in the bill you think are good.

    Preaching to Alexander. Won’t let him talk though.

    Finally. Alexander speaking. Get back to you on why I believe you’re wrong and like to put my facts down on why your plan will increase costs.

  28. bellalu0

    Poll: 53 to 37 American people opposed. O’Connell says.

    Now, we have Tom Coburn speaking. Doctor himself.

    Obama; uh huh, uh huh. uh huh

  29. bellalu0

    How do we come together and achieve the extortion that goes on? We haven’t gone where the money is.

    Reid says Colburn is fillibustering.

    Obama appreciate what you said. Hoyer next.

    Obama: every good idea about abusing fraud we’ve ADOPTED in our legislation.

    Doesn’t account for costs in private market place.

    Coburn: if we are wasting it in the public sector, we are shifting it to the private sector.

  30. bellalu0

    John Kline R up at 11:23.

    small businesses to combine and lower costs.

    Obama: Okay. Max do you want to address this.

    Baucus: We basically know the current unsustainable. American people want us to do something reasonable, we are on the cusp of breaching a lot of gaps. Gaps not that great.

    We are including all of these provision in our legislation. Lawsuits: Sebelius trying to find ways to settle issues. States can opt out.

    We are not that far apart. He says the bill actually includes all the things the repubs are suggesting.

    Bella says, if that is true, and there is agreement on the issues, scrap the current bill and draft one that BOTH

  31. bellalu0

    parties agree with, and eliminate the massive take over in the bill. Keep it simple. Cut the fraud!!
    First and foremost.

    Baucus: We are close to health care reform.

    Dave Camp R-MI up now.

    Bill would bend the cost curve in the wrong direction. No lawsuit reform in bill.

  32. bellalu0

    Camp: Unelected Board charged with making medicare reduction. Too much authority to unelected bureaucrats

    Obama; I don’t mean to interrupt but……We are trying to focus on costs. If every speaking is going thorugh every provision and saying what they donb’t like it’s going to be hard to arrive at what we agree with.

    Camp: I do want to ssay on this issue on premimums CBO says premimums on non group policies would increase.

  33. Anonymous

    Bella

    Check out Drudge’s headline

    http://www.drudgereport.com/

  34. bellalu0

    Bob Andrews D- at 11:38.

    Something about C section.

    I don’t hear people complaining about policies from private. I think that’s a red herring.

    Exchange between Andrews and Kline.

    O’Connell calls out the democrats getting more time than the republicans.

    Paul Ryan: R – Not in Washington. The problem with the plan you are offering. We don’t want to sit in Washington and mandate all these things.

    Exchange between Ryan and Andrews.

    Many of us look at the states do we distrust state people? Do we want Washington to decide exactly what we can and cannot buy?

    Obama: Running over because we went long. on opening statement. Because I AM the President.
    some giggling after that one.

    Obama telling stories about his old car, insurance company in Illinois paying premimums.

    Wants to set up mimimum standards.

    Now to Chuck Schumer. 11:48. How we get waste out?

  35. bellalu0

    Jon Kyl R-AZ Fundamental differences between us 11:51

    So much puts control in Washington we have hard time supporting provision.

    CBO estimate average premimum for new non group policies will be 10 to 13 percent higher.

    Higher cost because of government mandate. Mandate insurance cover more things and the cost is going to go up.

    Legislation raises payroll taxes. It’s a job killer. our don’t cut cost when you raise taxes on devices, insurance premimums, and pharma.
    Will Raise premimum CBO

    Rep would rather start piece at a time directing solutions to certain problems.

    Obama: We end up talking about criticisms of existing bill as opposed to where we have agreement. We have chased around for quite some time now.

    can’t get coverage or only poor insurance high decudtible, it’s not health insurance but if I get hit by a truck I don’t go bankrupt. If I now have chance to buy decent package and costs little more, there will be bunch take. Yes, I pay more because instead of apple I buy an orange.

    Kyl tries to interject…..

    Obama: No, no, let me finish. The way the bill is structured uses a cat pool for people who can’t afford to buy the better blah, blah, blah

    We say should be minimum baseline. I don’t know what he’s saying now. blah. blah.

    Maybe he should go back to the oranges and apples. A.B.C.D. where’s my phamplet.
    .

  36. bellalu0

    Boustany R LA
    Health savings accounts.

    American people have rejected bills, see increases, raises taxes, does not bring down cost.

    common sense step by step approach that will lower cost is what Americans want.

    baucas: I don’t think anybody knows what the time limits are.

    George Miller D CA blah blah blah

    This is a waste of time. Totally.

  37. bellalu0

    John McCain up at 12:26

    The process is a problem. Product was produced behind closed doors, unsavory deal making, LA purchase, corn husker kickback, Fla. senior exempt from medicare advantage cutback.

    Bella says, I am deeply concerned about it, too, because it was only for THREE counties. Not everybody in Florida.

    Pharma got 80 billion dollar deal. not be competition for medicare patients, another administration would oppose drugs frum Canada

    Obama interrupting

    McCain: Can I just finish, please.
    Americans who reject this proposal say go back to the beginning they want us to go to beginning. They want uniform treatment of ALL Americans.

    McCain:Treat all Americans the same under the provision of the law

  38. bellalu0

    Obama: We;re not campaigning any more. The election’s over.

    Slap!

  39. bellalu0

    Sebelius up at 12:30.

    Bella says, She will be
    the Queen Supreme over health care if this thing passes. She will get to decide everything so there’s no wonder she likes it..

  40. bellalu0

    Eric Cantor R VA up at 12:38.

    We don’t care for this bill. The American people don’t like it.

    CBO sent letter suggested betwee 8 and 9 million people may lose the coverage they have because of the construct of this bill.

    We need to set this bill aside. There are areas of agreement.

    Obama: 8 to 9 million poeple you refer to, would find the deal in the exchange better. Yes, they would have more choice. Be clear about that.

    When we do props like this and repeat 2400 pages, health care is complicated. These are political things we do to prevent us from having a discussion.

    Slap.

    Talking about meat inspectors now.

  41. The women that gave Tiller the abortionist, cover to perform late term abortions? Sure what could go wrong.

  42. bellalu0

    Cantor: Can I just respond. When you start to mandate everyone in country have insurance, there are consequences. We can’t afford this.

    We’re asking you set aside this mandated form of health care regulation and go back to things we can agree on.

    Obama; We’ll be discussing whether we can afford it or not.

    Joe Biden breaks in.

    Cantor: You’ve got in the bill the Secretary (Sebelius) define what the health benefit would be.

    Obama: Only as part of the pool — Eric, I’ve got people who want to speak we’re overtime I burned some of it I apologize.

    I’ve got five speakers and not a lot of time.

  43. bellalu0

    Louise Slaughter D blah somebody wore her dead sister’s teeth.

    four remaining speakers and Rockfeller.

    Break. 12:58

    Bottom line:

    I AM is the president.

  44. bellalu0

    Okay. I got it.

    Democrat talking points are “we may be closer together than anybody thinks.” Every last one of them have made that statement.

    Groupspeak.

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