A tale of two presidents

A tale of two presidents

Now... I have seen it all

Remember... our government actually paid for this advertisement. 

Your tax dollars at work!

They could care less about securing the border. But they do care if illegals get a fair wage? What the f---!


The people of AZ have finally woken up. Now is the time for the rest of us. If this video does not bring to bear, this worthless president has any resemblance to a real president, then you should have your head examined. 

This doesn't cross the line... it leaps over it!

(I had to listen to it twice. I couldn't believe what I was hearing.)


Hilda Solis--- I wonder if she is here legally?

Now... I have seen it all

Here we go again

Update on my previous post

Once again the Democrats want to re-instate the NINJA rule that created our current fiscal problem under the CRA act. NO INCOME NO JOB APPROVED for the mortgage.

Democrats Vote Down 5 Percent Rule

In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn) proposed that borrowers be required to make a 5% down payment in order to qualify. His proposal was rejected 57-42 on a party-line vote because, as Senator Chris Dodd (D-Conn) explained, "passage of such a requirement would restrict home ownership to only those who can afford it." 

What a novel idea!

Here we go again

What happens after a government injection of $145 billion

The government can't digest this simple principle... when you can't afford a home...you can't afford a home. Owning a home is an American dream... not an indelible right! 

If this video does not convince you; I don't know what the hell would!

Question. How in the hell do these bastards remain in office?

Franklin Raines

Why is this guy not in jail?

Update: Fannie, Freddie Delisting Signals Firms Have No Value

By Jessica Holzer and Jacob Bunge
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--The regulator for Fannie Mae (FNM) and Freddie Mac (FRE) ordered them to voluntarily delist their shares from U.S. stock exchanges Wednesday, underscoring that the once-mighty mortgage behemoths no longer have value as private firms.


The move comes as the Obama administration begins to shift its focus to the future of the companies, which were seized by the federal government in September 2008 and are on track to becoming the largest recipients of bailout dollars in the financial crisis.
The company's regulator, Federal Housing Finance Agency Acting Director Edward J. DeMarco, cited stock-exchange rules related to minimum share-price levels as the basis 
for his action. But his hand was not forced by such rules.


"This is a positive step," Phillip Swagel, a former Treasury Assistant Secretary for Economic Policy during the Bush administration, argued. "It signals that these guys are going to come out [of conservatorship] in a different form and that the existing shareholders are not going to get anything."


Facing criticism from Republicans for not spelling out the fate of Fannie and Freddie, administration officials have indicated they will turn to the matter once Congress wraps up work on financial-overhaul legislation. Treasury spokesman Andrew Williams said Wednesday's action "does not imply any direction of any future reforms or preference of corporate form" for the companies.


Freddie Mac said it expects the delisting of its common and preferred stock will happen by July 8. Fannie Mae indicated it will be delisted in early July.


The companies' shares will now be traded in the over-the-counter market where they will be quoted on the OTC Bulletin Board, typically the domain of untested companies and more speculative stocks. They will still file disclosures with the Securities and Exchange Commission.


The companies' share prices plummeted on the morning announcement; Fannie's and Freddie's stock closed down nearly 40% to 56 cents and 76 cents, respectively, in Wednesday trading. Meanwhile, the roughly three dozen publicly-traded preferred securities issued by Fannie and Freddie were punished nearly as severely, posting declines of 14% to 46% in Wednesday afternoon trading.


Fannie's and Freddie's shares have limped along since the federal government seized them. The U.S. Treasury acquired ownership of 80% of each company's common stock and agreed to pump in capital as needed to keep the companies solvent. The government has so far injected $145 billion and losses at the company continue to mount. In exchange for the capital, the federal government has received preferred shares in the same amount carrying a 10% coupon.


Any money the companies make goes to paying the dividend on the government's shares.


Fannie's and Freddie's shares had become the province of day traders taking bets on the company's future after institutional investors fled the stocks and Wall Street equity analysts dropped them from their coverage. Trading has remained intense, however, with the shares often making the New York Stock Exchange daily list of most heavily-traded shares.


Since their federal takeover, Fannie and Freddie have functioned as tools of the administration's strategy to keep mortgage credit flowing and help homeowners avoid foreclosure. The Treasury's preferred stock agreements with Fannie and Freddie effectively guarantee the companies' debt.


The two mortgage giants have struggled mightily since the housing bust. In May, Fannie requested another $8.5 billion in government aid. Meanwhile, Freddie said it would need a $10.6 billion injection from the Treasury.


The shares of both companies first sank below the New York Stock Exchange's $1 30-day average price requirement in the fall of 2008. Companies that see their stock trade below that level for 30 consecutive days typically are given six months to correct the issue or face delisting.


When Fannie and Freddie slipped into the warning zone, they got a longer-than-usual period to buoy their stock price thanks to a temporary suspension of NYSE Euronext's listing standards in late February 2009. Those listing standards were reinstated in August 2009, but both companies traded above the minimum price at that time.


Over the past 30 days, Fannie Mae's average share price sank once again below NYSE's minimum requirement. Freddie's share price didn't violate the $1 minimum, however.
DeMarco, in a press release, said it "simply makes sense" for Freddie to delist because it "fits with the goal of a conservatorship to preserve and conserve assets."


Pulling their stocks off the NYSE will save the two companies $500,000 apiece in annual listing fees, as both companies paid the maximum amount due to the large number of 
shares outstanding, according to NYSE Euronext.


Fannie and Freddie watchers weren't surprised by the regulator's action. Rep. Spencer Bachus (R-Ala.), the top Republican on the House Financial Services Committee, said in a press release the move confirmed Fannie and Freddie weren't real companies anymore.


"De-listing is the appropriate message: That these companies have no value and they shouldn't be traded as if they're real companies," said Bose George, an analyst for Keefe, Bruyette & Woods Inc.

What happens after a government injection of $145 billion

Well said

Well said