OT: Fraudie, Phoney and manipulation (Pt 1)
First things first, yes, both Klobuchar and Ellison voted for the bill to grant complete open-ended authority to the Secretary of Treasury and Federal Reserve. That was a larger, more all-encompassing abdication of legislative authority than when Congress gave Bush a blank check and unlimited authority to take us to war in Iraq. Someday, you'll come to understand they screwed you even worse on that than Congress screwed you on the Iraq war authorization.
Did they pander for your vote with untruths and manipulation? No idea. Did they claim they were going to Washington to look out for you and other ordinary taxpayers, or did they tell you they'd sell you up a river and pick your pockets at every turn to help out the folks who run the company they work for (the Democratic party) -- without the support of which they wouldn't have their half-million dollar a year jobs (yes, when you add in franking privileges, housing allowances, travel, perks, etc., etc., that's what they make) -- and its funders (aka, the folks who write the real checks, and own the actual workings of the party)? If it was the former, did you believe them?
"So who should of been on Fannie and Fredie's Board than?"
Maybe, just maybe it would have been a good idea to have the Board and Executive office occupied by something other than a bunch of unqualified political cronies, whose aims and goals were, in this order (1) direct cash payback to the pols who appointed them via Fannie campaign contributions, (2) indirect payback to the pols who appointed them via Fannie "charitable" contributions to organizations that funneled money and fomented voters for the aforementioned pols, (3) enrich themselves personally to the maximum extent possible, regardless of whether that ran contrary to taxpayer or public interest, (4) use the power of the position to enlarge their own power network by utilizing it as a piggy bank of unlimited favors and handouts.
Then again, maybe not such a big deal. They were only fooling around with about $5 Trillion or so, strung out on 30:1 margin. Ask yourself, if a hack politician came to you and said "gee, sinclap, I've been thinking, I'd kind of like to do some derivatives trading in complex debt instruments. How about you give me $10k of your savings to work with. It's possible, since my motives are to enrich myself, even if it's at your expense, I might lose your 10k. In fact, since I plan on going on margin of 30:1 so I can be fooling around with $300,000k, if I screw up, you could potentially lose a lot more than your $10k. If I get it wrong to the tune of 10%, you could be out $30k+. So ... whatda think? Ready to write me a check?"
AI
