Liberal Utopia

What your world would be if everything liberals wanted, they got. Open the door at the bottom of its Elysium fa├žade and take a glimpse of hell.

Arrest Chris Dodd, Barack Obama, Chuck Schumer, Barney Frank,


Rahm Emanuel, Jim Johnson, Franklin Raines, Jamie Gorelick, Robert Zoellick, David Gribbin, and all the other thieves and crooks in "our" government who make Bernie Madoff look like a petty shoplifter.


hile Bernie Madoff was stealing money from a comparatively small number of private investors, the rest of these rip-off artists — each of whom should be named in numerous felony indictments — were stealing the entire present and future life savings of all 300,000,000-plus members of the American public.

Judicial Watch president Thomas Fitton thoroughly lays out a statement of the facts regarding their heinous crimes against us:

Liberal leaders in Congress — led by Congressman Barney Frank — have made it clear that their top priority is to hide the truth of their role in the politically-driven management and corrupt oversight of these giant mortgage lenders, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Mortgage Corporation (Freddie Mac).
“The failed Washington oversight, political corruption and personal greed at ‘Fannie Mae’ and ‘Freddie Mac’ helped cause the financial crisis that’s creating so much distress for American families today.”

Here is what we already know about what happened at Fannie and Freddie.

Until their collapse, Fannie and Freddie were "government-sponsored entities" — theoretically regulated by Congress. They were backed by the taxpayers for all their losses, but kept all their profits. (The saying goes "Privatize the profits, socialize the losses!")

Beginning in the late 1990's, the Clinton administration pressured lenders to loosen home loan requirements in order to increase home ownership for those unable to afford homes and to curry political favor with left-wing activists, like the "ACORN" crowd!

As far back as September 30, 1999, the New York Times reported that:

"Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from its stock holders to maintain its phenomenal growth in profits."

The article went on to predict this strategy would run Fannie Mae into serious financial difficulty during an economic downturn. We were forewarned!

Nevertheless, Clintonite hacks at Fannie and Freddie like Franklin Raines, Jamie Gorelick and Jim Johnson (later a key advisor to Barack Obama) took Clinton's risky gamble and then doubled down.

(Raines and Johnson, along with Barack Obama who got the preferential rate from Northern Trust, also obtained preferential mortgage loan rates from Countrywide, the mortgage giant that is a major co-conspirator in this financial mess.)

Encouraged by Fannie and Freddie, banks began making tens of thousands of "subprime" loans to individuals who under prudent lending rules never would have qualified for them.

This ruinous game was played for ten years under both the Clinton and George W. Bush administrations.

As the Washington Post noted in a December 9, 2008, story:

"The new products included home loans made to people with blemished credit histories, called subprime loans, and mortgages made without verification of income, assets or employment.... The loans required borrowers to state their incomes and assets, but not prove them."

The decision to violate sound lending principles to advance the Clinton administration's political agenda was bad enough.

But that's no all.

Executives at Fannie and Freddie received huge bonuses if "loan tagets," including targets for subprime loans, were met. Franklin Faines earned $100 million and Jamie Gorelick earned $75 million in bonuses from Fannie Mae!

In other words, these "government-sponsored entities" not only trashed well-established lending standards — they also encouraged their executives to hustle as many bad loans as possible.

In fact, we now know that at Fannie Mae in 1998, its then-head (and later Obama advisor) Jim Johnson cooked the books by deferring $200 million in expenses in order to fraudulently inflate profits so he and other senior Fannie executives could receive massive bonuses that year. What a racket!

Despite their accounting problems and warning of crisis, Fannie and Freddie, with the full support of liberals in Congress and their special-interest community organizing friends like ACORN pushed for more subprime lending.

And calculating financial institutions (too many of which had corrupt relationships with these very same politicians) were happy to play along.

And when the GOP took over the White House and Congress, the folks at Fannie and Freddie moved fast to protect their cash cows by putting key Republicans on their boards and payrolls, including former Bush trade representative Robert Zoellick, who served a tour as Fannie's executive vice president, and former Cheney aide David Gribbin, who sat on Freddie's board.

The main objective of the crooks running Fannie and Freddie was to make sure that no one in Washington would hold them to account, and they succeeded!

Overall, Fannie and Freddie spent more than $180 million over the last ten years to lobby Congress, and make sure that no one rocked their highly profitable boats.

That's not all.

Over the same ten year period, Fannie and Freddie contributed lavishly to the politicians who chaired or had senior positions on the committees that had oversight responsibility for their institutions.

Fannie Mae alone contributed to the campaigns of 354 congressmen and senators, from both parties!

The top 4 recipients of money from Fannie Mae in order of cash magnitude were:

  1. Sen. Christopher Dodd (D-CT), the Chairman of the Senate Banking, Housing and Urban Affairs Committee;
  2. Sen. Barack Obama (D-IL), a member of the Federal Financial Management Committee and now [allegedly] our president;
  3. Sen. Chuck Schumer (D-NY), Chairman of the Senate Finance Committee;
  4. Rep. Barney Frank (D-MA), Chairman of the House Financial Services Committee.

The "political investment strategies" of Fannie and Freddie paid off — big time.

Even after a 2004 government investigation found massive fraudulent bookkeeping at Fannie Mae, Congress held no hearings, no one went to jail, and business as usual, including aggressively marketing more loans to unqualified buyers, continued unabated!


Now, our country is facing a financial disaster.

And Sen. Dodd, Sen. Schumer and Rep. Frank are still today the individuals primarily responsible for "oversight" at Fannie and Freddie, while Sen. Obama is now in the White House!

Doubly incredible!

(Barack Obama's White House Chief of Staff, Rahm Emanuel, received contributions from Fannie Mae and Freddie Mac while he was in Congress. He also earned over $250,000 as a director of Freddie Mac in 2000 and 2001, and was part of Freddie's "asleep at the switch" board that failed to spot any red flags about its lending and many other financial irregularities.)

Of course, last year the corrupt houses of cards that Fannie and Freddie had become collapsed, leaving you and me and every other American taxpayer holding the bag when [the Demoqrat-run] Congress and the Bush administration bailed these institutions out.

Unsurprisingly enough, almost every one of these thieves and crooks is a corrupt Demoqrat(birm).

Naggy Pelooni's spouting on and on about others' "culture of corruption" has definitely been the grossest example of Demoqrat projection ever evinced since the founding of her completely corrupt party of racists and crooks.

Labels: , , , , ,

Bookmark and Share  

Comments (registered users)

Post a Comment

Liberal Utopia

LC Local 666, VRWC
Never Submit

This page is powered by Blogger. Isn't yours?


Liberal Utopia

Site Feed

Subscribe to Liberal Utopia by Email


March 2004
April 2004
May 2004
June 2004
July 2004
August 2004
September 2004
October 2004
November 2004
December 2004
January 2005
February 2005
March 2005
April 2005
May 2005
June 2005
July 2005
August 2005
September 2005
October 2005
November 2005
December 2005
January 2006
February 2006
April 2006
May 2006
June 2006
July 2006
August 2006
September 2006
October 2006
November 2006
December 2006
January 2007
February 2007
March 2007
April 2007
May 2007
June 2007
July 2007
August 2007
September 2007
October 2007
November 2007
December 2007
January 2008
February 2008
March 2008
April 2008
May 2008
June 2008
July 2008
August 2008
September 2008
October 2008
November 2008
December 2008
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009
January 2010
February 2010
March 2010
April 2010
May 2010
June 2010
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010
January 2011
February 2011
March 2011
April 2011
May 2011
June 2011
July 2011
August 2011
September 2011
October 2011
December 2011
January 2012
February 2012
March 2012
April 2012
May 2012
June 2012
July 2012
August 2012
September 2012
October 2012
November 2012
December 2012
January 2013
February 2013
March 2013
April 2013
May 2013
June 2013
July 2013
August 2013
September 2013
October 2013
November 2013
December 2013
January 2014
February 2014
March 2014
April 2014
May 2014
June 2014
July 2014
August 2014
September 2014
October 2014
November 2014
December 2014
January 2015
February 2015
March 2015
May 2015
June 2015
July 2015
August 2015
September 2015
November 2015
December 2015
January 2016
March 2016
April 2016
May 2016
June 2016
July 2016
August 2016
September 2016
October 2016
November 2016
January 2017
February 2017
March 2017
May 2017
June 2017
July 2017
August 2017
January 2018
February 2018
June 2018
July 2018
October 2018
January 2019
June 2019
July 2019
January 2020
March 2020
April 2020
May 2020
July 2020
August 2020
October 2020
January 2021
February 2021
June 2021
July 2021
August 2021
September 2021
February 2022
July 2022
December 2022
July 2023


Gab @LiberalUtopia

Gettr @LiberalUtopia

Parler @LiberalUtopia

TruthSocial @LiberalUtopia

Tw*tter @LiberalUtopia


G o o g l e
b o m b s
miserable failure
culture of corruption
sus barbatus
wicked witch of the east
great president