The Conservative Cave
Current Events => The DUmpster => Topic started by: dutch508 on January 28, 2009, 04:11:41 PM
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seemslikeadream (1000+ posts) Wed Jan-28-09 12:30 PM
Original message
more evidence of the LIHOP theory
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=125x232475
Edited on Wed Jan-28-09 12:33 PM by seemslikeadream
while georgie got us all scared to death of non-existent terrorists this LIHOP occurred
the agents with the expertise had been diverted to counter terrorism
http://www.democraticunderground.com/discuss/duboard.ph...
FBI saw mortgage fraud early
Posted by Robbien on Wed Jan-28-09 11:09 AM
Source: Seattle Post
The FBI was aware for years of "pervasive and growing" fraud in the mortgage industry that eventually contributed to America's financial meltdown, but did not take definitive action to stop it.
"It is clear that we had good intelligence on the mortgage-fraud schemes, the corrupt attorneys, the corrupt appraisers, the insider schemes," said a recently retired, high FBI official. Another retired top FBI official confirmed that such intelligence went back to 2002.
"We knew that the mortgage-brokerage industry was corrupt," the first of the retired FBI officials told the Seattle P-I. "Where we would have gotten a sense of what was really going on was the point where the mortgage was sold knowing that it was a piece of dung and it would be turned into a security. But the agents with the expertise had been diverted to counter terrorism."
. . .
Both retired FBI officials asserted that the Bush administration was thoroughly briefed on the mortgage fraud crisis and its potential to cascade out of control with devastating financial consequences, but made the decision not to give back to the FBI the agents it needed to address the problem. After the terrorist attacks of 2001, about 2,400 agents were reassigned to counter terrorism duties.
Read more: http://seattlepi.nwsource.com/national/397690_fbiweb28....
OMG! BUSH KNEW!!!!
Bolo Boffin (1000+ posts) Wed Jan-28-09 02:48 PM
Response to Original message
1. You really think that Bush let the global financial crisis happen on purpose?
Really?
common sense, meet Seems like a Dream...
seemslikeadream (1000+ posts) Wed Jan-28-09 02:55 PM
Response to Reply #1
2. more like he made it happen
you know all those rules and stuff he discarded
Seems llike I remember Barney Frank being ass deep in this...somehow...
(yeah, I know...horrid mental image...)
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Yes, he knew...and tried on multiple occassions--along with McCain and other republicans--to stop it.
But they were called racist and insensitive to the poor and making-up crses where none existed out of wholecloth.
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:thatsright:
The housing industry has been in trouble for the last 2 years.....yes, Bush knew....so did all the damn democrats... :censored:
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Good at forgetting inconvient history they are.
How many times since 2003 did Bush ask for tighter restrictions and regulations on feddie and fannie?
The same amount of times that democrats and liberals called them racists and that fredie and fannie were totally sound.
7.
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And now it's "big news" that those holding rotten mortgages and living in houses they couldn't afford are...you'll never guess...
minorities and single mothers.
Duh! ::) ::) ::)
I don't suppose that had anything to do with the Dim's Community Reinvestment (Racial Quota) Act. ::)
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I've heard Rush Limbaugh sat that if there was a Republican at fault in the housing crash, the media would have been shouting it from the mountain tops! Since it was democrats who caused this fiasco you'll never hear a peep from them.
DUmpmonkeys are doing the only thing they know how to do: Rewrite history to blame Bush and the Republicans!
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Good at forgetting inconvient history they are.
How many times since 2003 did Bush ask for tighter restrictions and regulations on feddie and fannie?
The same amount of times that democrats and liberals called them racists and that fredie and fannie were totally sound.
7.
Oh, how I wish Bush would have used up his political capitol on this instead of pushing an immigration bill that the authors should have been ashamed of.
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:thatsright:
The housing industry has been in trouble for the last 2 years.....yes, Bush knew....so did all the damn democrats... :censored:
Exactly. Anyone even remotely connected to the housing market saw signs of abuse and people getting loans way beyond their means long ago. But as said above, any attempt to push back against it made you look like a rascist keeping the poor downtrodden from getting ahead.
I don't know if this video was ever posted here, but this to me is by far the best explaination of the housing market fiasco and how it led to the economic crisis we have going on now. It's long but well worth watching. And it puts the blame squarely where it really lies:
[youtube=425,350]<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/1RZVw3no2A4&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/1RZVw3no2A4&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>[/youtube]
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Is PREDICTED now the same as KNEW (read CAUSED)?
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My wife and I were looking for a house in the midst of all of the kerfluffle in '04. Found one in the city that her parents lived in, not too far from them. Had a fireplace, and a nice sleigh-riding hill 40 feet from the front door, too. I wasn't sure if we'd be able to afford it, especially when the seller didn't want to take an asbestos-clad furnace out of the basement. So, we didn't do it. Looking back at that, it's a good thing we didn't. The property taxes in that city would probably dirve us out.
'Course, I could have been a DUmb**** and gone for it, too. That's not how my parents brought me up.
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Good at forgetting inconvient history they are.
How many times since 2003 did Bush ask for tighter restrictions and regulations on feddie and fannie?
The same amount of times that democrats and liberals called them racists and that fredie and fannie were totally sound.
7.
At one point in circa 2003,in a house hearing barney frank called John Snow an ALARMIST for pushing tighter restrictions on freddie and fannie
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At one point in circa 2003,in a house hearing barney frank called John Snow an ALARMIST for pushing tighter restrictions on freddie and fannie
3 or 4 weeks ago, I read somewhere that president Bush had asked for an audit (accounting?) of Freddie Mack and Fannie Mae as early as Apiril, 2001. Braney Frank and crowd was successful in delaying it for years.
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3 or 4 weeks ago, I read somewhere that president Bush had asked for an audit (accounting?) of Freddie Mack and Fannie Mae as early as Apiril, 2001. Braney Frank and crowd was successful in delaying it for years.
You surely don't meen the same Bawney Fwank that was shoving his penis into the second from the top guy at Freddie do you?