Dodd-Frank Act, Fannie Mae Freddie Mac The Ship Be Sinking VIDEO

If this was fiction no one would believe it, to far fetched. The same people who aided and abetted our downward spiral now seek to finish the job. Barney Frank's, chairman of the House Financial Services Committee key roll in the Freddie Fannie collapse is outlined below. Chris Dodd Chairman of the Senate Committee on Banking, Housing, and Urban Affairs is a life long politician. In the words of the philosopher "The Ship Be Sinking"¹

Wall Street Reform and Consumer Protection Act. BACHUS, REPUBLICANS BLOCKED FROM BRINGING UP FANNIE/FREDDIE REFORM BY CHAIRMAN FRANK. Summary Of Dodd-Frank Wall Street Reform And Consumer Protection Act, and FULL TEXT in PDF FORMAT H. R. 4173

WASHINGTON (June 23)– Congressman Spencer Bachus (AL-6) today said Chairman Barney Frank’s outright ban on consideration of amendments to reform Fannie Mae and Freddie Mac, the failed government controlled housing enterprises, is an abandonment of congressional responsibility and the direct result of Democrats controlling negotiations on a financial regulatory bill to protect their taxpayer-funded bailouts.

Bachus, who is Ranking Member on the Committee, today was blocked from bringing up reform proposals during a House-Senate conference on the regulatory bill.

“Without the ability to even debate how to end the unlimited bailouts for Fannie Mae and Freddie Mac, meaningful GSE reform, which should have been our top priority in this conference, will never come,” said Bachus, who is a conferee on the bill. “Instead, we have focused on other matters, many that are unrelated to the financial crisis, and allowed the GSEs to bleed more than $146 billion of taxpayer dollars without any plan to staunch the losses.

“Just like their lack of a budget, this is a complete abdication of their congressional responsibility. Thanks to the cameras, now the public knows what the Democrats look like when they protect government bailouts over the interests of taxpayers,’ Bachus said.

Under Bachus’ leadership, Republicans on the Financial Services Committee have consistently offered legislation and proposals to end the growing taxpayer bailout of the housing finance entities, which are considered one of the root causes of the financial crisis.

Barney Frank Fannie Mae and Freddie Mac Oct. 6, 2004 "I don't see anything in this report that raises safety and soundness problems" Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis.

At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.



Barney Frank in 2005: What Housing Bubble? Courtesy of www.verumserum.com. A speech by Barney Frank on the House Floor in 2005 where he refutes any concern about a housing industry bubble and advocates for the government to continuing expanding home ownership.



Barney Frank Rewrites History April 20, 2009 Says the Poor Should Not Own Homes.

Excerpt from an interview given by Barney Frank on the Tavis Smiley show on PBS on April 20, 2009, where Rep. Frank astonishingly claims that conservatives are to blame for the housing collapse, and that he has been in favor of rental housing for low-income earners all along.

FOOTNOTES ¹ Urban Dictionary: The Ship Be Sinking

VIDEO CREDITS: Covering up the Fannie Mae, Freddie Mac Scam. NakedEmperorNews

What Housing Bubble? morgenr

Barney Frank Rewrites History, morgenr

TEXT CREDITS: Congressman Spencer Bachus (AL-6)

The Justice Department’s assault on individual rights and civil liberties

Dr. Ron Paul

Dr. Paul says it all about the continuing erosion of American civil liberties, no one is innocent. "We have met the enemy... and he is us" Statement of Congressman Ron Paul United States House of Representatives Statement on H. Res. 1422 June 24, 2010.

Madam Speaker, the House of Representatives recently considered H.RES. 1422, honoring the 140th anniversary of the Department of Justice. I voted against this resolution because of the Justice Department’s history of violating individual rights.

It is the Justice Department that leads the ongoing violations of the Fourth, Fifth, Ninth, and Tenth Amendments in the name of the “war on drugs.” It is Justice Department agents who perform warrantless wiretap, and “sneak-and-peak” searches under the misnamed PATRIOT Act. It is the Justice Department that prosecutes American citizens for violating unconstitutional federal regulations even in cases where no reasonable person could have known their actions violated federal law.

Some like to pretend that the Justice Department’s assault on liberties is a modern phenomenon, or that abuses of liberties are only carried out by one political party. However, history shows that the unconstitutional usurpations of power and abuse of rights goes back at least almost a hundred years to the “Progressive” era and that Justice Departments of both parties have disregard the Constitution and violated individual liberties.

During World War I, President Woodrow Wilson’s Justice Department imprisoned people who dared to speak out against the war. Following the war, the progressive assault on the First Amendment continued with the infamous “Palmer raids,” named for Wilson’s Attorney General A. Mitchell Palmer. Just as President Wilson’s policies of foreign interventionism and domestic welfare served as a model for future presidents, Attorney General Palmer’s assaults on civil liberties served as a model for future attorney generals of both parties. Think of Robert Kennedy authorizing the wiretapping of Martin Luther King, Jr, John Mitchell’s role in the abuses of civil liberties by Nixon Administration, Ed Meese’s assault on the First Amendment with his “pornography commission,” Janet Reno’s role in the murder of innocent men, women and children at Waco, and the steady erosion of our rights over the past decade. In addition, it is the attorney general and the Justice Department that defend and justify violations of constitutional liberties by the president and the other federal bureaucracies.

Many civil libertarians were hopeful the new administration would be more sympathetic to civil liberties than was the prior administration. But the current administration has disregarded campaign promises to restore respect for civil liberates and has continued, and in many cases expanded, the anti-freedom policies of its predecessors. For instance, the current administration is supporting renewal of the policies of warrantless wiretapping, and other PATRIOT Act provisions. The administration, despite promising to be more open and transparent, is also continuing to use the claim of "state secrets" to shield potentially embarrassing information from Americans. According to the New York Times, the current administration is even outdoing its predecessors in the prosecution of government whistleblowers. It is little wonder that the head of the American Civil Liberties Union recently said he is disgusted with the administration’s record on civil liberties.

Of course, Madam Speaker, Congress bears ultimate responsibility for the Justice Department’s actions, as it is Congress that passes the unconstitutional laws the Justice Department enforces. Congress also fails to perform effective oversight of the Justice Department. Instead of honoring the Justice Department, Congress should begin to repeal unconstitutional laws and start exercising congressional oversight of executive branch agencies that menace our freedoms.

Congressman Ron Paul Washington, DC 203 Cannon House Office Building Washington, DC 20515 Phone Number: (202) 225-2831