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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: maxncompany who wrote (149659)	3/3/2009 9:48:42 AM
From: brit2	Read Replies (2) \| Respond to of 314077

Giving Obama the CEO position of the largest economy in the world is like letting a grade schooler take over the reigns of Exxon. He has never had a real job in his life. His only claim to fame is that he is a good left-wing ideologue, a puppet with a silver tongue who knows how to work the crowds. History will show that the economy under Bush was pretty sound until the decisions and directives of the Financial Services Committee under the chairmanship of Barney Frank, a staunch socialist, began to unravel the entire financial system. A bit of history … In September 2003, Frank, then the ranking Democrat on the Financial Services Committee, opposed a Bush administration proposal for transferring oversight of Fannie Mae and Freddie Mac from Congress and the Department of Housing and Urban Development to a new agency that would be created within the Treasury Department. The proposal reflected the administration's belief that Congress "neither has the tools, nor the stature" for adequate oversight. However Frank stated, "These two entities...are not facing any kind of financial crisis.... The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." He fought steadfastly against these changes, which essentially caused a paralysis within the FSC. By 2007 he had taken over the chairmanship, and the rest is history. Some interesting reading can be found in the FSC readings of the years 2003 onwards. Now back to the class! Brit