Fannie Mae CEO named Treasury’s bank bailout chief….Why would Obama think this is a good idea?
by Mortgage Rates on Thursday, November 25th, 2010 | 10 Comments
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I am sick of saying this – IT IS CHANGE WE CAN BELIEVE IN!
That’s kind of like putting the fox in charge of the chicken house.
Because we have a population of voters that pay no attention and he knows it.
This is sort of like having the fox watch the chickens.
“He has a wealth of experience with buying, selling, protecting, and managing assets to protect the taxpayer investment and strengthen the economy.”
Protect taxpayer investments? WTF?
That is ridiculous…I can’t believe he would even think about doing that
He is not stupid. He is setting us up to fail. The poor and the middle class will go first .
because he comes with excellent qualifications and banks issuing bad loans and packaging them with good loans when they sold them to Fannie and Freddie had nothing to do with the CEO.
AIG, Lehman brothers, Indymac, and others issuing 30 trillion in credit default swaps also had nothing to do with the CEO of Fannie Mae or Freddie Mac.
Matter of fact they would have been in great shape if gas wouldn’t have hit $4 a gallon causing Americans problems paying their mortgages, resulting in mortgage defaults, and real estate prices falling, which resulted in calls on credit default swaps and sub-prime derivatives.
That is what utlimately caused the financial system to collapse, and that what was responsible was none other than the Gramm-leach Bliley Act of 1999.
And a couple other bills Phil Gramm proposed that ultimately made credit default swaps exempt from government regulation.
Next we will get a child molester as the new secretary of education lol.
No Change, No Hope, NOBAMA
It is kind of cynical, but Obama knows if this fails, he can sit back and blame it on others without having to absorb the political liability in the polls and he can also sell his socialist solution of “only the government” can get us out of this.
Personally, one would think getting the best man for the job would be the mantra in this situation, but Obama only wants a butt in the seat.
I am not suprised, Obama enjoys rubbing our noses in it. He will hire every and any crook he can find. He enjoys screwing hard working Americans, it is how he gets his jollies.