Fannie And Freddie; The Bottomless Pit

Whatever the fix, the money spent will not be recovered, said Alex Pollock, a former president of the Federal Home Loan Bank of Chicago who is now a fellow at the Washington-based American Enterprise Institute. “It doesn’t matter what you do or don’t do, Fannie and Freddie will cost a lot of money,” Pollock said. “The money is already lost. There’s an attempt to try to avert your eyes.” Quoting Sen. Gregg, here is the herd of elephants in the room, (no mention of these two in the Dodd financial reform bill): Fannie-Freddie Fix at $160 Billion With $1 Trillion…
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Senator Gregg On Financial Reform Bill And Social Justice

Senator Gregg was part of a panel on CNBC covering the newly passed senate financial reform bill. What follows is 4 minutes and 17 seconds that you will want to hear. Sen. Gregg covers the problems with this bill including Freddie and Fannie not being addressed, the creation of the Freddie and Fannie debacle by Congress, and the Bureau of Consumer Protection. ...and the failure to take on Freddie and Fannie is almost malfeasance of a criminal level by the Congress, I mean the fact that we would leave on the table, well it's like having a room, not having…
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Big Brother’s Lock On Your Money Is Complete

Big Brother’s Lock On Your Money Is Complete

I wrote about it; I tried to warn people, but after the healthcare fight we just went through, I think most people just wanted a breather from battling the fascists in Washington (to our long-lasting detriment). Now we have the financial reform bill that includes the new federal agency Office Of Financial Research, and the Bureau of Consumer Protection keeping track of every single financial transaction you could possibly imagine; including your bank balance, and when you walk to the ATM to take cash out.  I wasn't lying, but I do think I was one of very few writing about…
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Three Republicans Vote For Cloture On The Senate Financial Bill (UPDATED: Video)

Are you ready for a new federal government agency (Office Of Financial Research) under the direction of Treasury that has a $500 BILLION DOLLAR YEARLY BUDGET, can invest appropriations it is not using, and the profits are no longer your money? Are you ready for every single monetary transaction you make to be in a government database? You can thank Olympia Snowe, Susan Collins, and Scott Brown. Senate Clears Way for Final Vote on Financial Bill WASHINGTON—U.S. senators took a major step toward passage of a broad revamp of U.S. financial markets Thursday as Democratic leaders were able to secure…
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