Do a GOOGLE search on NO DOCUMENTATION LOANS and you will get an eye full !
2004: House committee hearings on regulation of Freddie Mac and Fannie Mae. The statements Karl Rove made in the video above are shown as fact in this video.
Fannie Mae and Freddie Mac are US GOVERNMENT backed institutions. They are quasi-government corporations.
Franklin Raines received almost $100 million in bonus money as CEO of Fannie Mae. He received bonus for the NUMBER OF MORTAGAGES underwritten, not whether or not the mortgages were solvent or would be repayed. There is an FBI investigation into the manipulation of the bonus money.
Fannie Mae made political contributions to politicians. Sen Chris Dodd received the most from Fannie Mae. #2 was Senator Barak Hussein Obama.
Yes, this is the same Sen Chris Dodd that fillbustered the bill that Karl Rove described in the video above.
Maxine Waters: Franklin Raines "outstanding leadership"
- Actually, it has led to the government takeover of Fannie Mae.
Oct 28, 2008- And here we have Sen Chris Dodd on the radio talking about his OWN mortgage, that he received from CountryWide Mortgage Co, who issued him a SPECIAL mortgage. Dodd kept the terms SECRET. The CEO of CountryWide personally handled Dodd's mortgage package.
Tom Scott, radio hosts, accuses Dodd of mortgage FRAUD on the radio !!
The Community Reinvestment Act. GOOGLE IT !!!
This video helps explain it.