Comments on: Exactly 9 Years Ago Today: Fannie Mae Eases Credit To Aid Mortgage Lending

By: Wall Streeters are just Welfare Recipiants in Disguise « Did You Know

Wall Streeters are just Welfare Recipiants in Disguise « Did You Know — Sun, 02 Nov 2008 00:07:16 +0000

[...] Compliments of One Mans Blog [...]

By: Did You Know

Did You Know — Fri, 10 Oct 2008 19:36:59 +0000

Under Fannie Mae’s pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 — a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

This means they made a small fortune on the poor for some time. Why is it the poor have to pay more interest? That one percent certainly adds up to a whole lot of profit.

By: Critical Critic

Critical Critic — Wed, 01 Oct 2008 23:42:39 +0000

Rich Donovan,

I guess you’re a Democrat, eh? News flash, Obama isn’t going to right the ship either. The entire system needs to be stripped to the core and restarted from scratch…Republicans and Democrats are equally spoiled.

By: Rich Donovan

Rich Donovan — Wed, 01 Oct 2008 21:56:33 +0000

�So little pains do the vulgar take in the investigation of truth, accepting readily the first story that comes to hand.” Thucydides 1.20.3

This is the breakdown of Executive and Congressional power during the Clinton and Bush years (102nd thru 110th Congresses). Since 1995, the Republicans have controlled Congress for 12 of 14 years. They have controlled the White House for the last 8 of those 14 years. The Republicans controlled both the Executive and Congressional branches of government exclusively from 2001 through 2007. From his inauguration until Nov. 8, 2007, President George W. Bush never experienced a veto override. Indeed, from Jan. 20, 2001, until Jan 20, 2007, his party controlled both chambers of congress.

Indeed, the “pilot program” that Steven Holmes speaks of was actually expanded nationwide under veto-immune President Bush and a Republican controlled Congress.

Now, who again was asleep at the wheel?

Senate House
Congress Years % Rep. % Dem. % Rep. % Dem. Pres
102 91-93 43 57 37.7 62.1 GHWB
103 93-95 44 56 40.6 59.3 WJC
104 95-97 53.5 46.5 52.9 46.9 WJC
105 97-99 55 45 52.4 47.4 WJC
106 99-01 54 46 51.3 48.6 WJC
107 01-03 50* 48 51.5 48.5 GWB
108 03-05 51 49 52 48 GWB
109 05-07 55 45 53 47 GWB
110 07-09 49 51 45.7 54.3 GWB

*Cheney gave Republicans advantage prior to outright majority.

By: Justin Carmony

Justin Carmony — Tue, 30 Sep 2008 15:32:33 +0000

Thanks for the article John! It has a serious irony about it. I posted an excerpt on my blog and linked here, because I think people need to be more aware of the economic situation. I also posted an email from a friend about “placing blame” and how many parties are involved, not just the current administration. I thought you might enjoy it.