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Obama's mortgage committee? Hummmmm !!!!

Discussion in 'Uncategorized Threads' started by Jerbear, Sep 19, 2008.

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  1. Jerbear

    Jerbear TS Member

    Joined:
    Jan 29, 1998
    Messages:
    3,588
    Franklin Raines is some kind of guy. See above.


    Jerbear
     
  2. KenC

    KenC Member

    Joined:
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    Sorta like a 'Federalized' version of Bernie Ebbers or Jeff Skilling. Anyone surprised that this crook also worked for Bill Clinton?
     
  3. pendennis

    pendennis Well-Known Member

    Joined:
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    Messages:
    1,567
    Location:
    Southeast Michigan - O/S Detroit
    This Fannie Mae/Freddie Mac scandal is the result of the cozy games that Congress has played for years.

    They put huge pressure on mortgage lenders to make bad loans to people they knew could not repay. All this was done in the name of minority home ownership, and getting people into so-called starter homes in the $200k range.

    Daniel Mudd (Newsman Roger Mudd's son), was the interim CEO of Freddie Mac before he was kicked out recently. He's still earning $900k/annually, and is said to have pulled in $43 million in bonuses, etc., since he's been there.

    FM/FM were supposed to be the most monitored corporations in U.S. history, yet these clowns violated nearly every accounting rule, and ran FM/FM into the ground. They even invested in corporate bonds, when their charters limit them specifically to home mortgages.

    One of the accountants went to Raines, and advised him of the problems in accounting and finance, yet Raines did nothing with the information.

    Do you think for one second, that if you embezzled $1k from your trap club, that the local prosecutor wouldn't have you charged quicker than greased lightning?

    These guys need to go to prison, have every dime taken, and pay restitution until they die.

    Dennis
     
  4. JBrooks

    JBrooks TS Member

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    Here is Mr Mudd:

    <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/usvG-s_Ssb0&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/usvG-s_Ssb0&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
     
  5. Finprof

    Finprof TS Member

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    May 9, 2007
    Messages:
    167
    While you are at it, check out James Johnson. He headed Obama's search committee for a vice president.
     
  6. halfmile

    halfmile Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    15,642
    Location:
    Green Bay Wisconsin
    Wiley E. Coyote for President!

    HM
     
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