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Thread: More Blood On Jamie Gorelick's Hands

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    Default More Blood On Jamie Gorelick's Hands

    First, she erects the "Wall" between the FBI and ALL Intelligence agencies that directly prevented the sharing of information that might have prevented 9/11.As an Asst. Attorney General under Janet Reno, Gorelick authored the infamous 1995 Memo that went "beyond what the law ( FISA ) required".

    The she served on the 9/11 Commission and worked overtime protecting the Clinton legacy and her own ass. Where was she in between ? Vice Chairman of Fannie Mae. She and Franklin Raines ( Clinton's former Director of OMB ) served under Jim Johnson who Obama had to dump as one of his Vice- Presidential "searchers". Raines succeeded Johnson who was forced out when serious Enron type accounting fraud was uncovered at Fannie Mae. The worst of these was failing to take $200 million in losses because it would have reduced performance bonuses paid to him and his fellow directors including Raines and Gorelick.

    Raines went from Vice-Chairman to Chairman and Gorelick succeeded him as Vice Chairman. They presided over a $6.3 BILLION accounting scandal. Raines was charged by Federal regulators with manipulating Fannie Mae's earnings and he paid a $2 million dollar fine and forfeited $ 22.7 million in stock and bonuses. Well actually, he did not pay anything out of his own pocket. It was all covered by Director's and Officers Insurance. AIG is the biggest underwriter of D & O Insurance in the U.S. During this tme, not only did Gorelick go along with all the accounting irregularities but she pocketed millions in salary and over $ 6 million in bonuses in just one year.

    Fannie Mae was founded by FDR to provide mortgages. It was the least he could do after he and the Federal Reserve presided over the collapse of the U.S. banking system. With some help from Hoover although he tried a Federal rescue but was the lamest of lame ducks after his electoral defeat in November 1932.
    It was eventually spun off into a semi-private corporation and sold stock and issued bonds but retained its Federal charter. For decades it was one of the safest investments possible and even got through the S & L fiasco relatively unscathed. The changes that led to its eventual takeover started under Clinton. Under Clinton new regs were promulgated that loosened Fannie Mae lending requirements. Previously, it literally cherry picked which mortgages to buy and fund but to promote more "minority home ownership" its regs and requirements were dramatically loosened.

    It also started its own PAC and soon developed into a major lobbying force in Washington. From 1989 to 2008, 16 of its top 25 recipients of campaign cash were Dems. ; 9 were Reps. The top four are Chris Dodd - $133,900 ; John Kerry $111,000 ; BARACK OBAMA $105, 849 and HILLARY CLINTON $75,550. Btw, McCain is nowhere on the list.

    After the Johnson scandal came to light there was a movement led by conservative Republicans to phase out Fannie Mae and its sister corporation Freddy Mac. Not only did the Dems. led by Dodd, Chuck Schumer and Barney Frank fight off the proposed phase out of the two corporations BUT they also killed every attempt to impose increased regulation and improved oversight.

    Ms. Gorelick was directly involved in two of the biggest train wrecks in our history.
    Its obvious why the Dems are NOT screaming for hearings and investigations a la Enron. The trail leads right to THEIR doorstep and its THEIR presidential candidate who' ll get covered with plenty of mud.

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    Default Re: More Blood On Jamie Gorelick's Hands

    Quote Originally Posted by Eric Stoner View Post
    It also started its own PAC and soon developed into a major lobbying force in Washington. From 1989 to 2008, 16 of its top 25 recipients of campaign cash were Dems. ; 9 were Reps. The top four are Chris Dodd - $133,900 ; John Kerry $111,000 ; BARACK OBAMA $105, 849 and HILLARY CLINTON $75,550. Btw, McCain is nowhere on the list.
    And Obama managed to catch up with them after just 3 years in Congress. It took Dodd 34 years to reach his total, Kerry 24, and Clinton 8. Change you can believe in ?

    Dodd got about $4k/yr., Kerry $5k/yr, and Hillary 9k/yr.

    Obama? $35k/yr.
    "never trust a big butt and a smile"-- Bell Biv DeVoe

    If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill

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    Default Re: More Blood On Jamie Gorelick's Hands

    Quote Originally Posted by bem401 View Post
    And Obama managed to catch up with them after just 3 years in Congress. It took Dodd 34 years to reach his total, Kerry 24, and Clinton 8. Change you can believe in ?

    Dodd got about $4k/yr., Kerry $5k/yr, and Hillary 9k/yr.

    Obama? $35k/yr.
    They formed their PAC in 1989 so Dodd and Kerry had 19 years.

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    Default Re: More Blood On Jamie Gorelick's Hands

    Quote Originally Posted by Eric Stoner View Post
    They formed their PAC in 1989 so Dodd and Kerry had 19 years.
    OK, so change Dodd to $7k/yr and Kerry to $6k/yr. Obama would still appear to get more per year than the other 3 combined.
    "never trust a big butt and a smile"-- Bell Biv DeVoe

    If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill

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    Default Re: More Blood On Jamie Gorelick's Hands

    Quote Originally Posted by bem401 View Post
    OK, so change Dodd to $7k/yr and Kerry to $6k/yr. Obama would still appear to get more per year than the other 3 combined.
    Why didn't McCain get any ? Maybe because for years he wanted the Federal Government OUT of the mortgage business and NOT have the American taxpayers on the hook for the bailouts.

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    Default Re: More Blood On Jamie Gorelick's Hands

    Btw, guess who pushed through regulatory changes so that Fannie and Freddie could buy mortgages on upper-income homes ? Nancy Pelosi.

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    Default Re: More Blood On Jamie Gorelick's Hands

    Quote Originally Posted by Eric Stoner View Post
    Btw, guess who pushed through regulatory changes so that Fannie and Freddie could buy mortgages on upper-income homes ? Nancy Pelosi.
    Its funny how our antagonists on other threads scream about being sick of the hypocrisy and sick of "business as usual" when their poster boy and his colleagues are into it up to their necks.
    "never trust a big butt and a smile"-- Bell Biv DeVoe

    If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill

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    Default Re: More Blood On Jamie Gorelick's Hands

    Quote Originally Posted by bem401 View Post
    Its funny how our antagonists on other threads scream about being sick of the hypocrisy and sick of "business as usual" when their poster boy and his colleagues are into it up to their necks.
    It even gets a little better. Guess who co-sponored a reform bill in 2005 that would have imposed stricter regulation and oversight on both Fannie Mae and Freddy Mac ? John McCain. Who led the fight to kill the bill ? Chris Dodd and Chuck Schumer.

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