Thread: Republicans: Why was a 'financial collapse' a liberal conspiracy theory until the TV

said it was true? I'm going to love these answers.
NO, it hasn't happened yet, thank goodness. I hope it doesn't but remember 'the economy was fine' up until about a month ago.

Btw - I think both parties are full of it, but I did agree with alot of democrats when they were screaming bloody murder about the economy

SusanMarie - GREAT ANSWER
SusanMarie - you answer now helps my opinion that these people are all in bed together regardless of party affiliation , the republicans blame wall street, wall street blames the poor, the democrats blame the republicans and the people are all left with the **** swinging in the wind 18 months from now.

Becasue Obama's top economic advisors are responsible for the banking companies asking for bailouts. McCain asked for upadtes and they refused to give it to him, although they fully adviced Obama of the collapse.

Obama's top economic advisors have ties to Fannie Mae, Freddie Mac, AND Lehman Brothers -- all asked for help from the Feds this weekend. They also have ties to Countrywide, who was in the news this past spring for the same reason!

Jim Johnson, who is currently Barack Obama's economic advisor, was not only CEO and Vice Chairman of Fannie Me, he was also a managing director at Lehman Brothers.

On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson "to lead the process" for selecting Obama's running mate. However, Johnson soon became a source of controversy when it was reported that he had received below market rates loans directly from Angelo Mozilo, the CEO of Countrywide . Property records show Mr. Johnson has received more than $7 million in loans from Countrywide since 1998, the first coming in the waning days of his Fannie Mae tenure. [ http://online.wsj.com/article/SB121279970984353933.html?loc=interstitialskip ]


Franklin Raines was CEO of Fannie Mae 1999 to 2004. Mr. Raines also is currently Barack Obama's economic advisor and has not yet been forced to resign. He is accused by The Office of Federal Housing Enterprise Oversight (OFHEO), the regulating body of Fannie Mae, of abetting widespread accounting errors, which included the shifting of losses so senior executives, such as himself, could earn large bonuses. Raines was sued for wrongdoing but was able to settle. An editorial in The Wall Street Journal called it a "paltry settlement" which allowed Raines and the other two executives to "keep the bulk of their riches." In 2003 alone, Raines's compensation was over $20 million. [ http://online.wsj.com/article/SB109770752803244715.html?mod=Review-Outlook-US ].


Raines *also* has ties with Countrywide. In June 2008 Wall Street Journal reported that Franklin Raines was one of several politicians who received below market rates loans at Countrywide Financial because the corporation considered the officeholders "FOA's"--"Friends of Angelo" (Countrywide Chief Executive Angelo Mozilo). He received loans for over $3 million while CEO of Fannie Mae. [ http://online.wsj.com/article/SB121279970984353933.html?loc=interstitialskip ]

Anyone else see the connections here?

Doesn't it seem awfully convenient that these institutions are asking for help now?

Anyone else believe that these debacles are being timed for the benefit of Obama?