Twitter   RSS   Email  
 
Home
Admin

 How the Global Economy is Dependent on Christianity


 Why America May Never Recover From the Recession


 Save Money Homeschooling


I Found Part of the Answer to My Question About Freddie Mac and Fannie Mae

By: Steve Johnson

9/19/2008 - 15 Comments

A few days ago, I ask the question “Who Passed the Laws Supporting Freddie Mac and Fannie Mae?” on this blog.

The reason I asked this question is because these organizations are at the center of the financial meltdown that we are now facing.  Nobody gave me the answer in the comments and I have not found a list of names yet, but I did find this YouTube video today.

Video: Fannie Mae CEO call Obama and the Dems the "Family" and "Conscience" of Fannie Mae

The video lists the top three beneficiaries of campaign contributions;

  • Sen. Christopher Dodd (D-CT) $165,400
  • Sen. Barack Obama (D-IL) $126,349
  • Sen. John Kerry (D-MA) $111,000

The video also lists some top advisors to the Clinton Administration.

This is astounding!  The supporting leadership in the Senate that benefited the most from these government sponsored organizations happens to be the most liberal politicians.  These leaders believe in collective socialism to plan the economy under the presumption that they would reduce poverty – by increasing homeownership. 

This is not to say that when I get a complete list of supporters of Freddie and Fannie that their will not be some Republicans in the list.

By now, I hope everyone can see that government intervention in planning the economy was a complete failure.   We need new leadership that believes in sound money practices and free market capitalism.  The practices of socialism have once again been proven to be faulty. 

Copyright © 2018 PennyJobs.com. All rights reserved.

Gold: The Once and Future Money

Governments and central bankers around the world today unanimously agree on the desirability of stable money, ever more so after some monetary disaster has reduced yet another economy to smoking ruins. Lewis shows how gold provides the stability needed to foster greater prosperity and productivity throughout the world. He offers an insightful look at money in all its forms, from the seventh century B.C. to the present day, explaining in straightforward layman’s terms the effects of inflation, deflation, and floating currencies along with their effect on prices, wages, taxes, and debt.

The Panic of 1907: Lessons Learned from the Market's Perfect Storm

The book is about the monetary panic in the U.S. in 1907. There was a lack of monetary liquidity and trusts and bank runs happened on top of each other. People were scared. Rich people became poor. The financial crisis gave America the FDIC and the Federal Reserve. The chronicle follows one speculator's attempt to corner the copper market, which leads to panic, the failure of banks and trusts and the impending bankruptcy of New York City. A great book with a good bit of linkage to today’s credit crunch.

Increase Your Financial IQ

For years, Robert Kiyosaki has firmly believed that the best investment one can ever make is in taking the time to truly understand how one's finances work. Too many people are much more interested in the quick-hitting scheme, or trying to find a short-cut to real wealth. As Kiyosaki has preached over and over again, one has to truly under the process of how money works before one can start out on trying to escape the daily financial Rat Race.

The New Master Your Money

This book provides a step-by-step plan to financial freedom presented in an easy-to-understand format. Do you know if you have enough? Do you know how much is enough? If you can't answer these questions, The New Master Your Money is for you. Ron Blue extracts principles from God's Word and applies them to your financial portfolio. Ron's professional experience in financial planning will be an asset to you and to your family for generations to come.