dergon darkhelm wrote:to quote The Daily Show
"Facts have a well known liberal bias!"
Yes, subjective and relative facts do have a liberal bias.
Democratic congress was at fault for this economic down-turn. They and the fed could have halted it before it had to come to this but they killed the bill. Unfortunately for democrats, Congress keeps track of these sorta things and are open to the public. . . ;o You could call it public accountability. . . Facts, even.
May 26, 2006
Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.
The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.
The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.
For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190,to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
I urge my colleagues to support swift action on this GSE reform legislation.
Quick Info
S-90 Federal Housing Enterprise Regulatory Reform Act of 2005
Last Action: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Status: Dead.
Henry PaulsonKnows exactly what he is doing.
It's unfortunate the hole that congress has placed us into but we cannot crash.
Lusipher wrote:
Greta Van Sestren isnt a republican and Bill O reilly is independent.
Ahahahahahahaha!!! Priceless.
I think that was a quip about MSNBC labeling their commentators as independent even though they're not. Fox is a fair and balanced albiet right leaning news organization. All and all, they smear less than your average smear artists in the media. Far be it for me to speak for Danubus but it just seems obvious that is what he meant.
Indeed,
You sound like the kind of person I should be selling wonder-cure-all tonic to.
Put up a topic on evolution or abortion and I bet he'd come across as liberal, for that matter.
Evolution and abortion are not necessarily liberal view points. On evolution, well, that's science/biology Jack Sprat. - Though woe unto those who DARE question modern darwinism in this free-thinking society, free-thinking no longer.
As far as abortion, republicans can fall into the catagory of either pro-choice though genuinely percieved as a last resort, or anti-abortion. Even though states have abortion (varying degress thereof) the populace is genuinely moral hence abortion is on the delcine. This view depends on whether or not you are a reagan republican, ex-democrat, or republican theist/non-theist.
Obama is a lawyer, s swindler, a hustler, a fraud. More info on his Orewellian PR game.
Cipher doesn't see a conspiracy but I see a systematic manipulation of our media, government, military, and economy. It seems pretty deliberate from people (linked and unlinked individuals) who are pushing a political agenda to, often aggressively so. I expected no less from socialists.
