I Found Part of the Answer to My Question About Freddie Mac and Fannie Mae By: Curtis Ophoven 9/19/2008 - 2 Comments A few days ago, I ask the question “Who Passed the Laws Supporting Freddie Mac and Fannie Mae?” on this blog. Your Ad Here 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.  Related Articles Who Passed the Laws Supporting Freddie Mac and Fannie Mae? Dow Ends 500+ Points Lower Prepare For a Major Economic Downturn Where Does Victim Mentality Come From? How to Protect Your Money If Banks Being To Fail   Subscribe via RSS Copyright © 2010 PennyJobs.com. All rights reserved. << FREE >> Weekly Newsletter... Signup today and start receiving our free weekly newsletter! Reader Comments Comment 1 maggie Says: on Friday, September 19, 2008 9:12:16 AM good video--excellent investigative reporting on trying to understand underlying cause and truth about Fannie/Freddie crash. Seems to be a Democrat experiment in helping poorer people attain the American Dream: a house of their own!!! Actually is a meritorious goal-!-but proved to be unattainable-! Perhaps it's true, "some people are born to rent"- as they said on C-SPAN yesterday--But thankyou for your input, as it is helping me figure out who to vote for---and what IDEALS are best for our country. Write a Comment Please keep comments civil and on-topic. Abusive or inappropriate comments will be removed without warning.  Name (required)     Email Address (required)     Website URL  Comment

Related Articles Who Passed the Laws Supporting Freddie Mac and Fannie Mae? If you consider the magnitude of the failure of the government supported enterprises of Freddie Mac and Fannie Mae and government bailout of these institutions on the economy, you have to wonder who allowed this to happen. Read More... Dow Ends 500+ Points Lower The worst point drop in more than seven years, as two large investment banks become part of history. Read More... Prepare For a Major Economic Downturn The economy is beginning to show that it has suffered major damage as the massive injections of money by the government, which should have juiced the economy into high gear, have had little if any effect.  Read More... Where Does Victim Mentality Come From? The issue with the growing victim mentality in America is leading to more and more financial troubles. Read More... How to Protect Your Money If Banks Being To Fail If major US banks begin to fail, as reported in the LA Times today, what is your strategy to preserve your money? Read More... 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.