Video: Fannie Mae/Freddie Mac the Democrats Enron »
Posted By pc25 1 year, 2 months ago in Political NewsThe Bush administration frog-marched executives from Enron, Tyco, and Worldcom into federal prison for their financial shenanigans, in collapses that look positively microscopic in the wake of the failure of Fannie Mae and Freddie Mac. Why hasn’t anyone in the recent failure received the same treatment? Here is potentially the largest financial disaster in American history. The American taxpayer stands to lose billions; Democratic insiders have extracted tens of millions. If Enron was a party scandal ... what is this?
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pc251 year, 2 months ago
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http://frum.nationalreview.com/post/?q=Y2NkMTVkNTc...
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Is Fannie Mae the Democrats' Enron?
During the Enron collapse of 2002, the public and the media were persuaded that Enron was somehow a Republican scandal, based on little more than senior management's history of contributions to the Republican party.
The ties between the Fannie Mae debacle and the Democratic party are much more intimate than that. Senior Democrats chosen for their political connections - James Johnson, Franklin Raines, Jamie Gorelick -
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pc251 year, 2 months ago
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http://polipundit.com/index.php?p=13732
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The Senate Banking Committee called Fannie Mae CEO Daniel Mudd on the carpet last week, and the Republicans on the committee were falling over themselves to be tough on the beleaguered exec. The Democrats on the committee, who seem suddenly to have found a corporate scandal deserving of leniency, were determined to look past Fannie’s $10.6 billion in accounting discrepancies while mouthing platitudes about the importance of Fannie’s “housing mission.” -
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pc251 year, 2 months ago
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http://www.freerepublic.com/focus/f-news/2095302/p...
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Fannie/Freddie Scandal Dwarfs Enron, WorldCom
RUSH: Investor's Business Daily today has just a great, great editorial: "Should Congress Be 'Perp-Walked'?" They say, "A federal grand jury in New York is probing the accounting shenanigans at Fannie Mae and Freddie Mac. It's about time, and we hope it doesn't end there. Remember the early 2000s, when companies such as WorldCom, Enron, Tyco and Xerox suddenly and spectacularly were revealed to have been cooking their books? Remember the glee expressed by Washington politicians, especially Democrats, as they watched CEOs and their underlings get perp-walked out of their buildings and into federal custody? Enron became the poster child for corporate misdeeds. In the accounting crisis of 2002, CEO Ken Lay was one of the most loathed human beings on Earth. And no, that's not an exaggeration. -
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pc251 year, 2 months ago
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FTA
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Franklin Raines never faced criminal charges, and instead settled a civil suit with a $2 million payoff — which came from Fannie Mae’s insurance company. Jim Johnson didn’t even have to do that much.
And where are they now? The Washington Post reported twice that Raines was advising the Barack Obama campaign, although they denied it. Jim Johnson still advises the Obama campaign and had briefly led the search for a running mate. Supposedly the FBI has begun a criminal probe into the actions of Fannie Mae management over the years, but we’ll see if that proceeds. -
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