Who Are Franklin Raines, Tim Howard and Jim Johnson?

These are the 3 guys that took down wall street as bigwigs at Fannie/Freddie…  and guess where they are now?

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They are Obama advisors.

Make sure to follow the link…  they do an excellent job of breaking it down, but below are a few snips for you!

CLICK HERE

Franklin Raines was a Chairman and Chief Executive Officer at Fannie Mae. He served as President Bill Clinton’s Budget Director. Raines was forced to retire from his position with Fannie Mae  when auditing discovered severe irregulaties in Fannie Mae’s accounting activities. At the time of his departure The Wall Street Journal noted, “ Raines, who long defended the company’s accounting despite mounting evidence that it wasn’t proper, issued a statement late Tuesday conceding that “mistakes were made” and saying he would assume responsibility as he had earlier promised. News reports indicate the company was under growing pressure from regulators to shake up its management in the wake of findings that the company’s books ran afoul of generally accepted accounting principles for four years.” http://www.washingtonpost.com/wp-dyn/content/discussion/2006/02/23/DI2006022301805.html

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Tim Howard – Was the Chief Financial Officer of Fannie Mae. Howard, “was a strong internal proponent of using accounting strategies that would ensure a “stable pattern of earnings” at Fannie. In everyday English – he was cooking the books. http://www.signonsandiego.com/uniontrib/20041230/news_lz1ed30bottom.html http://www.usatoday.com/money/companies/regulation/2004-09-24-fannie-cfo_x.htm

The Government Investigation determined that,  “Chief Financial Officer, Tim Howard, failed to provide adequate oversight to key control and reporting functions within Fannie Mae,” http://www.usatoday.com/money/companies/regulation/2004-09-24-fannie-cfo_x.htm

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Jim Johnson: A former aid to Walter Mondale, a former executive at Goldman Sachs and Lehman Brothers and who was later forced from his position as Fannie Mae CEO, was hired as a Senior Obama Finance Advisor. Johnson is so senior that he was selected to run Obama’s Vice Presidential Search Committee, the Committee that selected Joe Biden.  http://www.associatedcontent.com/article/781141/barack_obama_taps_former_fannie_mae.html

The National Review suggested – “Look at the former Fannie Mae Chief Obama choose for the job (selecting Biden). …. specifically, look at the Office of Federal Housing Enterprise Oversight’s May 2006 report on mismanagement and corruption inside Fannie Mae, and you’ll see some interesting things about Johnson. Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.” http://corner.nationalreview.com/post/?q=NWM3MDFkM2QwNzRjODk3NWZhZTc3OGIxNDQ4Nzc2NDc=

VP Debate Moderator An Obot Author Releasing A Book On Obama???

It has been disclosed that Gwen Ifill, the moderator at the upcoming VP debate, is going to be releasing a book that is EXTREMELY pro-Obama on January 20, 2009…  Inaguration Day.

She has been a strong Obama supporter for a long time and has been more than highly critical of Palin.

How is this even fair?  How can they seriously allow someone so obviously and completely biased moderate a debate???

I am truly disgusted.

Updates galore to come.

Michelle Malkin has all the updates….  Click Here

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As a side note, I have to say that I have never in my life seen anything as disgusting as the media this election cycle.  They are no longer reporting the news, they are chosing the news and have become direct partisan players.

I am repulsed.

I will no longer be supporting PBS until Gwen Ifill is no longer an employee. I am sorry, but my tax dollars pay her salary too and I want her unhired.

People make the excuse that the Debate board did not vett her properly and that is a poor excuse.  She should have informed them upfront and avoided even the appearance of impropriety.

Every Lawyer I know is REVOLTED.

Palin Ad: The Alaskan Circus

More Proof Of Anti-Hillary Bias In The Media – Biden Gets A Pass… Twice

Fox News

When Hillary Clinton told a tall tale about “landing under sniper fire” in Bosnia, she was accused of “inflating her war experience” by rival Democrat Barack Obama’s campaign.

But the campaign has been silent about Obama’s running mate, Joe Biden, telling his own questionable story about being “shot at” in Iraq.

“Let’s start telling the truth,” Biden said during a presidential primary debate sponsored by YouTube last year. “Number one, you take all the troops out – you better have helicopters ready to take those 3,000 civilians inside the Green Zone, where I have been seven times and shot at. You better make sure you have protection for them, or let them die.”

But when questioned about the episode afterward by the Hill newspaper, Biden backpedaled from his claim of being “shot at” and instead allowed: “I was near where a shot landed.”

The senior senator from Delaware went on to say that some sort of projectile “landed” outside a building in the Green Zone where he and another senator had spent the night during a visit in December 2005. The lawmakers were shaving in the morning when they felt the building shake, Biden said.

“No one got up and ran from the room-it wasn’t that kind of thing,” he told the Hill. “It’s not like I had someone holding a gun to my head.”

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Meanwhile, the gaffe-prone Biden has again raised eyebrows with another story about his exploits in war zones – this time in Afghanistan. Biden said he will grill Republican rival Sarah Palin in Thursday’s vice presidential debate about “the superhighway of terror between Pakistan and Afghanistan where my helicopter was forced down.”

“If you want to know where Al Qaeda lives, you want to know where Bin Laden is, come back to Afghanistan with me,” Biden bragged to the National Guard Association. “Come back to the area where my helicopter was forced down, with a three-star general and three senators at 10,500 feet in the middle of those mountains. I can tell you where they are.”

But it turns out that inclement weather, not terrorists, prompted the chopper to land in an open field during Biden’s visit to Afghanistan in February. Fighter jets kept watch overhead while a convoy of security vehicles was dispatched to retrieve Biden and fellow Senators Chuck Hagel and John Kerry.

“We were going to send Biden out to fight the Taliban with snowballs, but we didn’t have to,” joked Kerry, a Democrat, to the AP. “Other than getting a little cold, it was fine.”

Hillary was nailed to the friggin wall for weeks and her story was more truthful than presented in the media, but not a peep when Biden does it…  Twice.

It just proves that the media has chosen Obama and is perfectly willing to do what it can to make sure he gets elected.

Burning Down The House – Who Caused The Mtg Meltdown

Mountain Sage is tracking this ground breaking video across the net.  Obamatrons and Time-Warner keep trying to kill it and take it down, but it keeps popping back up.

She has also looked up all the links to the info contained in the video…

Seriously…  reviewing this material is one of the most important things you can do this electoral season.

Go.  Watch.  Read.

Go. Watch. Read. Pt 2

It’s Important.

Why McCain’s Bi-Partisanship And Experience Are Essential To Economic Solutions

We face serious problems and we need serious leaders with serious solutions.  We are on the brink of total economic collapse, and our collapse may trigger a world wide depression on a scale like we have never seen before.  The worst part is that the public is still behind the times on the crisis.  Mortgages were so last year.

The real looming monster in the room that no one wants to admit is there yet are the credit default swaps.  If these start going down the tubes, we are completely screwed.  Completely.

The problems we face go so far beyond the basic problems of the mortgage crisis, it is hard to even describe the real problems we face in layman’s terms.

On a basic level, everyone broke up their risky stuff into little tidbits and sold them to a bunch of different places…  spreading around the risk, therefore supposedly lowering the risk exposure for each party.

Then, at the same time, everyone was buying other places tidbits of risk and paying a premium…  because the returns were big and the overall risk was low due to it being spread over a group rather than a single party.  And the risk was further minimized because they owned tidbits of risk from several different parts of the financial sector and from several different companies, so if one part had trouble, no big deal…  it was balanced out by all the others.

You see, the only way all these little tidbits could pose any real problem is if the whole sector were to grind to a screeching halt.  And that could never happen…  could it?

Instead of having individual companies running into problems and shutting down, now everyone owns a part of everyone else’s risk…  and in the aggregate, those little tidbits of risk add up to a lot of risk, especially if the whole financial system becomes threatened…  you know, like now.

So the potential for future problems is immense.  Mortgages are just the beginning.

We need a leader with honor, experience and a willingness to work with both sides of the aisle.

John McCain has been in DC and part of the solution for the S&L Crisis, 1987′s Black Friday, the Tech Bubble burst, the collapse after Sept 11th and now the Mortgage Meltdown.  He has experience in dealing with both the delicate political and tenuous economic situations.

In addition, much like Obama’s touted “foresight” and speech on Iraq, John McCain put forth legislation in 2005 and warned about the coming meltdown.  If we are to give Obama credit that his initial opposition to the Iraqi invasion speaks to some sort of judgement, then this must be trumped by McCain’s prediction of the troubles in the mortgage industry because no one will dispute that the troubles with the economy are by far the most important.

Barack Obama, on the other hand, not so good on the judgement tip.  Barack Obama not only stayed silent on the coming crisis, but supported the very groups and people responsible for the crisis.  Among those in Obama’s inner circle you can find two former heads of Fannie Mae and the grand dame and architect of the sub-prime mortgage crisis.  In addition, Obama has been one of the top recipients of contributions from Wall Street…  second only to Chris Dodd.  And then there is ACORN…  Oh, God…  I don’t even know where to begin with these scam artists…

Barack Obama’s complete ignorance and total naivete’ when it comes to real estate and economics has a long track history of devastation.  From the boarded up tenements his buddy Rezko left all over the southside of Chicago to the meltdown of the mortgage industy cheer on by his friends, advisors and former employers…  Barack Obama is bad for housing and bad for the economy.

This is a big crisis, one that the majority of Americans agree is the biggest crisis we face.  We cannot leave it to an ignorant neophyte with a history of destructive decision making that has shown little propensity to change his stance, even less leadership, a near complete lack of bi-partisanship and an affinity for earmarks.

Barack Obama didn’t even want to go back to DC to deal with the mortgage crisis in the first place, didn’t even bother to contact any of the Democrats that were on the fence the morning of the bailout vote…  but bi-partisanship and an aversion to earmarks are essential.

John McCain has a long and well documented history of bi-partisanship, one which is lauded by just about everyone in DC including both Hillary and Bill Clinton as well as Joe Biden.

In addition, these bills dealing with the economy need to be free of the clutter, partisanship and politics that earmarks represent.  John McCain has never once asked for an earmark…  ever.

This stands in stark contrast to Obama and his friends, who wanted to earmark the bailout bill to give ACORN, Obama’s former employer, BILLIONS of dollars and who sunk the vote through their rabid partisanship (ie Pelosi and her rant.)

When facing the precipice of complete economic meltdown, we need someone that has experience, someone that listens to all sides, has the foresight to recognize coming problems, works in a bi-partisan way and does not use crisis situations to earmark and gain political advantage.

We need John McCain.