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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.]

 

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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