[StBernard] Is it Dems or GOPs?

[Westley Annis]

Let's not forget what really started a lot of this mess; it was the subprime
markets and variable rate mortgages that people foolishly signed for.  Take
unqualified folks and sign them up for mortgages they really shouldn't have
qualified for.  When the rates adjusted upwards they were screwed.  Add in
the the financiers who bundled the mortgages into SIVs and then sold them as
investments.  That started the whole thing rolling downhill and gathering
momentum and "vicitms" as it rolled.

This youtube vid is my favorite take on the entire thing.  It's of Bird and
Fortune and is a funny take on a bad situation.  This was done when the
subprime issue was just building up.  Trust the Brits to understate things.

http://www.youtube.com/watch?v=mzJmTCYmo9g

JY




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	And let's not forget Jim Johnson, who was VP then ran Fannie Mae and
made
	over $80 million during his 6 year tenure - and what is Jim Johnson
doing
	today?  He's the number 2 man in the Obama campaign.  And ranks #2
on the
	all-time Fannie Mae kick-back list to members of Congress?  You
guessed
	it...Barack Obama.
	
	And it 2003 when George Bush proposed forming a government oversight
	committee on all this embezzlement (and that's what it is) do you
know what
	happened?  The Democrats in Congress fought it tooth and nail until
it was
	defeated.
	
	I'm just waiting for someone out there to say the Republicans are
just as
	bad on this Fannie Mae scandal...WRONG!  There are a few, but that's
it.
	And what they got from Fannie Mae puts them way, way down the list.
	
	It was already mentioned today on
	 Glenn Beck's show that the feds (meaning
	Department of Justice) is going to investigate this, probably with a
Grand
	Jury, and odds are a lot of people are going to go to jail.
Informed
	sources say you can expect Obama get a supoena to testify.  It is
unclear if
	he is going to be an actual target.
	
	Oh, and John McCain will not be.  He was one of the Senator who
joined with
	Bush to form the government oversight agency.
	
	John