Jamie Gorelick, Mistress of disaster

[DixieBelle]

It's not often that one person plays key roles in two -- count 'em, two -- trillion-dollar disasters. Welcome, my friends, to the world of well-connected Democrat Jamie Gorelick.

In 2004, observers were "astonished" to discover that a key member of the 9/11 Commission had a fatal conflict-of-interest. Jamie Gorelick had served as a Deputy Attorney General under Bill Clinton from 1994 to 1997.

It was later revealed that Gorelick had established a pre-Patriot Act "wall" that prevented the foreign intelligence and criminal investigative communities from collaborating.

SNIP
The 2004 disclosure that Gorelick's service as a 9/11 Commissioner was the archetypical conflict-of-interest should have triggered a cacophony of complaints and demands for a new investigation. Instead, the mainstream media turned deaf and dumb and the controversy faded into the background.

Gorelick's "wall" wrapped a blindfold around America just when it needed its vision to stop the attacks that killed thousands and which sucked a half a trillion dollars out of the economy.

Though she had no training or experience in finance, Gorelick was appointed the Vice Chairman of Fannie Mae and served in the role from 1997 to 2003. During that six-year period, she earned over $26 million.

During Gorelick's tenure, FNMA suffered a $10 billion accounting scandal, an ominous harbinger of the firm's looming troubles. One of the falsified transactions helped FNMA hit earnings targets for 1998, which triggered bonuses for top executives including nearly $800,000 to Gorelick.

Go to the link to read it all and to see the clippings imbedded.
http://directorblue.blogspot.com/2008/09/jamie-gorelick-mistress-of-disaster.html

[SSG Snuggle Bunny]

Whoops!

Now we know why the libs aren't seeking prosecutions.

[Wretched Excess]

add to that the fact that BHO is #2 in political donations from fannie mae (and has been there for less than half of the amount of time that the study examined), and it surprises me that the man even mentions it.

but, yeah, it appears as though jamie gorelick has pretty much turned everything that she has touched into a national crisis.  is there any way we can get her to work on The BarackStar!'s campaign?

 

[Peter3_1]

tHE LOT of the dems , rep's, pol apointees who SUCKED MAE/MAC dry owes their payments from them BACK, and every pol who got a contribution from mae/mac should have to RETURN in and INCLUDE the FACT on ALL RE ELECTION materials!

[Wretched Excess]

tHE LOT of the dems , rep's, pol apointees who SUCKED MAE/MAC dry owes their payments from them BACK, and every pol who got a contribution from mae/mac should have to RETURN in and INCLUDE the FACT on ALL RE ELECTION materials!

I think that these banks and mortgage agencies are simply having the same problem on a macroeconomic scale that individuals had an a smaller scale;  they stretched too far to buy too much house in the belief that their primary asset, the house itself, would continue to appreciate forever.

I think federal guarantees that protect lenders and borrowers from the financially hazardous effects of taking out bad loans to begin with were as big a part of the problem as anything.  and the feds have been very actively involved for the past 18 months discouraging lenders from foreclosing on obviously bad loans for all the wrong reasons . . . that certainly hasn't helped.

[Peter3_1]

The root cause of the problem predates the Bush Admin.. The encouragement by government to make margional loans predates this administration. The political cronies at Mac/ Mae predate this admin.. So, those at the top of the risk management responsibility we should give a pass to?

I'm sorry, but if they were helping suck the blood from the companies, not trying to stop the bleeding, they owe it back. And the politicians who are responsible need to be held to account as well.

In cases like Jamie Gorelick, who took MILLIONS out of Mae, she needs to PAY BACK. Politicians need to return the Mae/Mac money as it is ill gotten, and the VOTERS need to be informed REGULARLY who the causes of the problem are. You see, we all can focus on Gorelick, but we tend to think "our guy"  in Washington IS SWELL, when often "our guy" is the problem.

[Airwolf]

The root cause of the problem predates the Bush Admin.. The encouragement by government to make margional loans predates this administration. The political cronies at Mac/ Mae predate this admin.. So, those at the top of the risk management responsibility we should give a pass to?

I'm sorry, but if they were helping suck the blood from the companies, not trying to stop the bleeding, they owe it back. And the politicians who are responsible need to be held to account as well.

In cases like Jamie Gorelick, who took MILLIONS out of Mae, she needs to PAY BACK. Politicians need to return the Mae/Mac money as it is ill gotten, and the VOTERS need to be informed REGULARLY who the causes of the problem are. You see, we all can focus on Gorelick, but we tend to think "our guy"  in Washington IS SWELL, when often "our guy" is the problem.

According to Rush today it was Bill Clintons signing of and the Democratic lobbist pushing for the repeal of the Glass- Stiegal act of 1932 that allowed all of the banks like Fannie May and Freddy Mac to do what they did. Can't pin this on the Right no matter how hard they try.

[Wretched Excess]

The root cause of the problem predates the Bush Admin.. The encouragement by government to make margional loans predates this administration. The political cronies at Mac/ Mae predate this admin.. So, those at the top of the risk management responsibility we should give a pass to?

I'm sorry, but if they were helping suck the blood from the companies, not trying to stop the bleeding, they owe it back. And the politicians who are responsible need to be held to account as well.

In cases like Jamie Gorelick, who took MILLIONS out of Mae, she needs to PAY BACK. Politicians need to return the Mae/Mac money as it is ill gotten, and the VOTERS need to be informed REGULARLY who the causes of the problem are. You see, we all can focus on Gorelick, but we tend to think "our guy"  in Washington IS SWELL, when often "our guy" is the problem.

I didn't say that any of the root causes of this problem were in any way attributable to the bush administration.  I did say that if the administration had any hand in delaying the inevitable solution (foreclosures), then they probably increased the severity.

and if any of the people that had oversight responsibility for the mortgage and loan industry in any way traded influence for campaign cash, then those people belong in prison;  to hell with "paying back".