Archive for the ‘House Financial Services Committee’ Category
On August 17, 2007 – we posted the article below. In light of the events of the past few weeks, please take a few minutes and re-read this amazing piece of information.
At about 3:25 in, this video shows how much some of these folks have taken – BOTH of our “choices” for President are part of this.
They think you don’t get it. We think they’re wrong. Keep calling and e-mailing!
Still Million Dollar a Month Salaries…
Still Tens of Billions to the Bank of China…
Be Skeptical of Senate Bailout Bill
All the Old Problems Remain
A Single Comprehensive Updated Article by Congressman Brad Sherman (D-CA)
October 1, 2008
• Taxpayers highly unlikely to recoup any of the costs under revenue provision
added last Sunday (page 2)
• Treasury will not use the new insurance powers added to the Bill last Sunday
• Tens of billions will go to foreign investors (page 3)
• Million-Dollar a month salaries will continue (page 4)
• Oversight Board can critique, not halt, any action (page 4)
• Few if any homeowners will get mortgage relief (page 4)
• All $700 billion can be spent by January 20, 2009 (page 5)
• Taxpayers will get little or no equity upside (page 6)
• Meaningful regulatory reform proposals will be subject to filibuster, delay, and
dilution (page 6)
• We have time to write a good bill (page 6)
Read Rep. Sherman’s full article here. (It’s a PDF so you can download and save it if you like. We did.)
Also – here’s Rep. Sherman discussing the fear tactics used to push this bill through –
From a New York Times article of SEPTEMBER 11, 2003!
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ”The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.” — Barney Frank (D-MA) is the current Chairman of the House Financial Services Committee.
Read the rest of the article and what was proposed 5 years ago – here.