Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank’s relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie. …

The two lived together in a Washington home until they broke up in 1998, a few months after Moses ended his seven-year tenure at Fannie Mae, where he was the assistant director of product initiatives. According to National Mortgage News, Moses “helped develop many of Fannie Mae’s affordable housing and home improvement lending programs.”

Ewwwwwwwwwwwwwwwwwww.

Easy to read, understand, and use to convince others.

bookworm
The problem on Wall Street wasn’t deregulation. Instead, it was a problem of too much regulation – that is, the government started telling banks how to loan money. The instructions required loans that went against banks’ financial interests, so banks started doing funny-money stuff to protect themselves – and they did so with Fannie’s and Freddie’s active participation. That was the Democratic side.

None of this would have happened if there had been oversight. Oversight doesn’t mean telling Wall Street what to do, it means policing Wall Street to make sure that, when it makes business decisions, it does so honestly.

http://www.washingtonpost.com/wp-srv/local/longterm/tours/scandal/gobie2.htm

Barney: “Bend over, America.”

Same difference.

Start with THIS:

Hank Paulson: Corrupt Self-Interest and Democrat Bailout of Democrat Wall Street

Treasury Secretary Henry “Hank” Paulson is a Democrat. He produced a Democrat Wall Street bailout bill, as President Bush delegated all authority to Paulson. Most of the big Wall Street guys now appear to be Democrats–which explains a lot about what is going on with this proposed, massive Federal bailout of Wall Street and government takeover of much of our economy.

He has no fight left in him. I had put my trust in McCain because Obama is an empty suit running on rhetoric but McCain has turned out to be such a disappointment. I won’t bother to vote.

Birdseye on October 4, 2008 at 2:20 PM

I’d like to personally thank you for helping elect Barack Obama then.

“Thanks”.

McCain ask the people to “fight, fight with me” and his gestures looked comical I thought at that time. Did not seem like a real fighter and people can now see the fact that he is no fighter. He had little to say about the financial mess and simply allowed Obama to put the blame on George Bush and his Republicans, including McCain. He has no fight left in him. I had put my trust in McCain because Obama is an empty suit running on rhetoric but McCain has turned out to be such a disappointment. I won’t bother to vote.

I’ll say it again. BARNEY, SPIT! THE MARBLES OUT OF YOUR MOUTH.

SouthernGent on October 3, 2008 at 9:50 PM

I have bad news for you…those aren’t marbles…

Did Frank have a conflict of interest at Fannie Mae?

Bawney’s had a “conflict” with every fannie he’s ever come into contact with.

Oh swish!