Financing more than just homes

Freddie Mac and Fannie Mae

What did the bribes buy?

We’ll probably never find the end to the corruption that was Fannie Mae and Freddie Mac.  I am convinced we have not seen the full extent of it.  I am convinced, though, that Democrats full in control of the government will make it a high priority to rewrite the story in their favor and pin the blame on G.W. Bush and the Republican party.

Ah but you are thinking, “but the cat’s out of the bag, YouTube has video of the Republicans pointing out the problems and Democrats denying there was anything to be concerned about.”  Problem is the Democrats control both the mainstream media and the federal government.  They can repeat a lie so often the majority of the herd is convinced and no amount of alternative media will convince them.  Why?  Because the majority of liberal voters and the uninformed masses do not acknowledge alternative media.  There are 3 possible reasons for this; they are ignorant of it, have a closed mind to it, or have been convinced the Right always lies.

The AP released this Freddie Mac story today.  It seems to be a fair coverage of what went on, however, there is a high emphasis on the bribes lobbyists paid to both Republican and Democrat lawmakers but especially Republicans.  I don’t think this was a concerted build up to a conspiracy, but I do think it’s just a liberal need to say, “they did it more than we did.”  Downplayed are the Senate hearings where indignant Democrats hailed the lenders as saints and accussed Republicans of being on a witch hunt.

Read the AP story and give me your take on it.  I think the focus will quickly shift toward trying to nail Republicans like Newt Gingrich with the full blame for the problems at these lending institutions.  Little if any attention will ever be paid to those Democrats who sheilded Freddie and Fannie or worse profited from the practices there.

  1. I couldn’t agree with you more. The saga of Freddie/Fannie was the first and most important part of the mess we’re in now. It also illustrates the problems in Government as a whole. Bright lights, cameras, payoffs and corruption have become the norm in Washington. I also don’t thnk the “herd” will ever get it. They just plain don’t have the capacity. Thank you public schools.

  2. It really is a great example of what happens when banks loan money to achieve social goals rather than to make a profit OR simply maintain financial stability. What makes them so important is the extremely high percentage of home loans these institutions hold.

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