Prior to the Democrats taking the majority in the House and Senate races of 2006 the Republicans held hearings into fraud and problems at Fannie Mae and Freddie Mac that regulators had discovered after concerns were raised by Bush and House and Senate Republicans. John McCain amongst other Republican lawmakers sponsored new tougher legislation to provide new reforms, stronger new regulatory oversight and changes to ensure their financial solvency and strength. They tried to get bipartisan support with Democrats to make these changes and pass these laws. McCain and others were blocked, stymied, ridiculed and berated by Democrats that opposed them vehemently at every turn. (as you will see so clearly see and hear in the demeanor and shrill tone of the Democrats protecting their beloved Fannie and Freddie Gravy-Train) Republicans didn't have enough of a majority to pass the legislation and reforms and there weren't enough Democrats in the House and Senate willing to cross the aisle and join the Republicans to enact these clearly needed and necessary reforms of the GSE's. The only thing McCain and Republicans were able to accomplish was to force Franklin Raines out as CEO in light of his mismanagement and fraudulent practices. They were also unable to get Democrats to help them pursue Justice Department criminal proceedings against Raine's for his actions. Raine's received a wrist-slap in a settlement in 2008 for the civil case filed by the oversight government agency. Following that settlement with some paltry fines (paid out mostly from his insurance policies). Then after that Fannie (remember these are government owned- taxpayer supported quasi-government/private corporations) had to pay out a $400 million dollar fine for his actions at the helm to the Securities and Exchange Commission. If the Democrats now had the stomach to pursue criminal charges against Raine's and others like him, (McCain promised publicly on Thursday he will pursue criminal charges for those responsible when he is elected) he would be easy to find- just contact the Obama campaign that has turned to him as an adviser for housing, financial and mortgage issues. (The Obama campaign claims Raine's doesn't work for the campaign- he's not paid. No, so he is simply an "unpaid" adviser?/ Oh...Okey doke, I feel much better now don't you? Nice of him to "donate" his expertise to Obama because of the the $50 million plus he "earned" in his years at Fannie afford him the luxury to help out at no charge.
During these hearings Democrats provide all the evidence with their own words against themselves and showing what liars they are in full living color about who is really responsible for our economic collapse of Fannie Mae and Freddie Mac. These GSE's (Government Sponsored Enterprise) Mortgage Companies that started this meltdown and chain reaction and Domino effect we are experiencing with banks and the stock market as a result. Watch Congressional Democrats as they try to dismiss and discount the criminal fraud and problems the regulators discovered. They then go on the offensive using their power to crucify, intimidate, berate, and impugn the integrity and motives of diligent and competent public servants doing their part to protect Americans and taxpayers. Wait a minute, isn't that what the Legislators are sworn to do as elected officials? They lay into these oversight regulators and accountants testifying under oath about the impending doom their reports have revealed and the documented criminal fraud within the Companies (accounting fraud discoveries like meeting loan origination percentage target goals that if met paid multi-million dollar bonuses to Frank Raines, the CEO, and were met to the exact penny so he got his bonuses) and their calls for action to regulate and make immediate changes to prevent collapse. The Democrat protectors were will have NONE of it. The alarmists and those calling for increased oversight, strong reforms and more powerful and effective regulation-- are all the Republicans.
Video from Republican sponsored Congressional Hearings about accounting fraud, crimes and mismanagement of the GSE's, aka Fannie Mae and Freddie Mac.
Video of Barack Obama & Congressional Black Caucus with Fannie Mae Executive at Swearing in Ceremony of the "2006 Family".
The November 2006 elections bring the Democrats control of the the House and Senate and with it they take over control of the oversight of Fannie and Freddie. The White House does not have oversight authority over these GSE organizations; the House and Senate do. It is irrefutably documented that Bush and then Treasury Secretary Snow strongly pushed for investigations, reforms, and oversight with Congress into these entities, as early as 2001 but they could only request, and advise the Congress- it was up to Congress to act. Republicans tried when they were in charge, but were thwarted and blocked at every turn by the Democrats who because of the narrow margin of their majority and Democratic solidarity on their party-line votes.
The Democrats won control of the House and Senate in 2006 with great financial help from Fannie and Freddie political contributions that were most generous. In fact these GSE's converted Congressman and Senators like Barney Frank, Barack Obama and Christopher Dodd, and the entire Congressional Black Caucus into paid lobbyists for their agenda with their contributions, effectively converting our Democratic party lawmakers into their full-time paid lobbyists and as the new CEO of Fannie Mae said, "members of the family". That massive Fannie and Freddie money was clearly well spent to help them defeat and rid them of their troublesome Republican tormentors -- we were all doomed as soon as Nancy Pelosi and Harry Reid grabbed their gavels and announced 'the beginning of a new era of accountability, an end to Republican corruption and their Lobbyist friends, and the end of Republican's lack of bipartisan cooperation in government'. It was like all those bad things never happened, and starting that day it just magically all went away...........until now when it couldn't be hidden any longer. All the statements and the warnings offered by the Republicans predicted precisely what we are watching occur now in real time.
September 2008, Republican lawmakers who predicted and tried to stop this meltdown years ago are forced into joining with Bush and the Democrat criminal perpetrators of this debacle to support an Economic Recovery Plan costing nearly One Trillion Dollars without any real recourse. What was their choice? To shut off the water from the hydrant and let our nation's economy and citizens lives burn to the ground? Or bite their tongue and work together for the sake of Americans and help turn the water hydrant valve to put out the fire? They must chose the latter, even in this magnanimous example and moment of this Republican bipartisan spirit of restraint for the good of the country, Speaker Nancy Pelosi can't contain herself and miss an opportunity to propogandize and lay the great lie on the Republicans. She did this before the Republicans even had the chance to vote on the initial draft of the rescue plan. Simply amazing, only in the America of 2008 can something so insane and laughable; if it wasn't so serious occur.
After you have watched these video's and hear their own words... in the full context of their testimony ask yourself how much money have you lost over this and how much more will you lose? How much longer will you have to work before retiring? How much further will our nation march toward Socialism and government intrusion into the private sector to stave off collapse as a result of this?
Now ask yourself. How can the American Media not report these truth's? How can I as just some some pee-on blogger (and tens of thousands like me) in Quilcene, Washington go on YouTube and find this clear proof of their Congressional on-the-record testimony and guilt in about 10 minutes, verify the facts within 30 minutes with a simple search on the Internet and publish and post it in less than an hour, yet after many weeks of this crisis and with all their resources the majority of our mainstream media can't, or won't? If this isn't full evidence to the state of liberal media bias, no wait bias isn't strong enough- conspiracy is more accurate... in America and their desire to elect their candidate, I don't know what is. How can Barack Obama and the Democrats who clearly are the ones responsible transfer their full blame and responsibility to the innocent Bush, Republicans and McCain? Only with the partnership of the media that are aiding and abetting them in this crime and enabling them to win the White House and gain all power in America!
Obama and the Democrats are successfully convincing American voters with the passive acquiescence of a loyal liberal media in the tank that Bush/Republicans/McCain are to blame, and it appears they are going to win the election because of it. Imagine, the guilty rewarded with winning the election by blaming the innocent? That will be a "Change" to our American ideals and ways.
Fast forward>>> The Associated Press, Washington, D.C. September 29th, 2011
Here is a probable headline: Democrats hold Hearings about NHCIC on the Hill Today
The first sentence will go something like this...The Democrats have opened hearings on Capitol Hill to affirm the solvency and soundness of the National Health Care Insurance Corporation, Social Security and Medicare Trust funds against charges and concerns by Republicans of a massive coverup and impending totality of collapse......
They will hold all power with the House, Senate, and Presidency...with Obama's two new Supreme Court Appointee's and their favorable decisions they have no fear of court interference as they transform our Republic with opinions that show the enlightened flexibility of the modern interpretation of our Constitution. The hearings are being held in Congress with prodding from those few pesky Republican Congressman and their constituents' massive calls and letters about the impending and total collapse of our new GSE, The National Health Care Insurance Corporation with reports of it's insolvency by Government regulators and investigators and also on the crisis to our Social Security and Medicare trust funds that the Democrats borrowed from to shore up the new NHCIC leading to the massive tax and Social Security tax increases they rammed through both chambers using their super-majority for President Obama's prompt signature. This was to date the largest bail-out in American history at Three Trillion dollars for NHCIC and with an as yet undetermined amount for the Social Security Funds that experts predict could be more than double the NHCIC final bailout.
Can you see from these videos what those hearings would be like? Can you imagine the state of the economy and the pain that will follow those future hearings following 3 or 4 years of inaction and Democrat control having ignored problems brought forth in the hearings?
Are we as Americans going to let this unprecedented injustice happen? Are we Americans really about to reward these criminals and liars with the White House? Ignore the polls, BE SURE TO VOTE, it's not over! We cannot allow the guilty to be rewarded on such an unprecedented scale and scope for causing the largest criminal action and fraud against the American people in our nations history!
Make your vote on November 4th your verdict as a juror on the evidence before you in the court of Truth.
Be sure to vote these criminals out of Congress and keep Obama out of the White House. Vote Republican for the House and Senate, vote McCain, and while you are at it Washingtonians, please vote for Dino Rossi Governor.
If for nothing but out of respect for truth and justice. Please help stop this madness, forward this to at least 10, and when you do ask them to forward it to 10 more.
Michael R. Bednarz