Obama Nominates Fox to Guard Chicken Coop by Jongsstraw

REAL WORLD EVENT DISCUSSIONS

Obama Nominates Fox to Guard Chicken Coop

POSTED BY: JONGSSTRAW
UPDATED: Monday, May 13, 2013 13:47
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Monday, May 13, 2013 8:33 AM

JONGSSTRAW

I'm sure he'll do as great a job as Barney Frank did.

http://www.whitehousedossier.com/2013/05/06/obama-nominates-fox/

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Monday, May 13, 2013 8:48 AM

SIGNYM

I believe in solving problems, not sharing them.

I have been angry about Obama's nominees, starting with (Wall Street insider and bag-man) Tim Geithner. (Obama SHOULD have nominated Sheila Bair, who was then Chair of the FDIC and who knew how to make banks run right) It's possible that Mel Watt is yet another industry bag-man, but impossible to know from this article, which contains so many whoppers that it jeopardizes credibility of the whole thing.

Quote:
President Obama last week nominated Rep. Mel Watt (D-N.C.) to run the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, the two agencies that caused the Great Recession Obama keeps blaming on George W. Bush.

They did this by promoting policies that allowed them to own billions of dollars in home loans made to people who couldn’t afford to buy homes. And then, a FINANCIAL CRISIS ensued when these people couldn’t make their payments, as might have been expected.

HOW do Fannie and Freddie explain the failure of the Royal Bank of Scotland, all three banks in Iceland, Black Rock and many other British banks, and the giant clusterfuck that is Greece, Cypress, and the EU??? The financial collapse was worldwide, and continues to this day. The only thing that can explain such a worldwide domino effect is that each and every financial system had within a fatal weakness that collapsed under the slightest stress. In the case of the EU, it was the lax capitalization rules of Basel II.

Whatever polices that Watt may or may not advocate probably had little to do with the financial collapse.

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Monday, May 13, 2013 1:47 PM

JONGSSTRAW

Amazing that I agree with most of that, especially Tim (tax-cheat) Geithner.

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