I've been bothered for the past week about Fannie Mae. I just...I couldn't figure out why this isn't pasted all over the media. Now let's compare this to Enron. Enron managed to keep some 500 million bucks off the book. The head honchos cashed out on a billion in stock, and other people were awarded a hundred million in bonus during the thick of it. That's 1.6 billion. Staggering. Enron was all over the media for MONTHS! (Enron stuff http://archives.cnn.com/2002/US/01/12/e ... nda.focus/)

But this Fannie Mae stuff? Compared to Enron, this is a financial scandal of epic proportions. We're talking about NINE BILLION DOLLARS! The scariest part is that Fannie Mae is directly tied to the hip of the government! So where's the media on this?

I've been watching FoxNews, CNN, Headline News, and NBC nightly news religiously the past few days looking for anyone to even mention this, and to see Tsunami coverage. Nobody is touching this. It's not in any of the papers either. And I couldn't figure out why...so I just started looking for articles.

Here's a quick informative article: http://www.builderonline.com/industry-n ... leID=89236

I was curious who this Raines guy was. Interesting stuff



Whoa... Okay. Then I find out that politicians, mostly Democrat, but some Republicans have been in the pocket of Fannie Mae to the tune of millions of dollars. Seems that Fannie has been paying these people off for years, and that these people are now standing in the way of further investigation. http://www.washingtonpost.com/wp-dyn/ar ... s_politics

Then I just happened to go to Fannie Mae's site itself, and found this: You only need to see the title, read it if you want



Oh, so that's why the media isn't picking this up. It's tied directly to the government, regulated by the government. The head chariman has deep roots within the Democratic Party. Then you have Jamie Gorelick, the woman responsible for the seperation of the FBI and CIA during the Lewinsky scandal who sat on the 9-11 board, a former member of the Clinton administration, who was a vice chair while all this was taking place. So to me, it makes perfect sense. Enron swindles a billion and a half dollars, but since it's oil, and Ken Lay donated money to Enron, it's all over the news. But a corporation tied to the government and a host of head honcho Democrats...they have an accounting error of NINE billion dollars, and it doesn't even get lip service.

Perfectly understandable.[/quote]

This story has been getting a pretty decent amount of coverage on NPR for the past 2+ months. You should try checking out the really liberal media, especially the one with governmental ties, if you want to get the REAL news.

--PunkDavid

Interesting stuff, I think if people in government, be they Democrats or Republicans, were somewhat involved, they should be investigated and punished. Its easier for the democrats to cover their tracks because they are seen as more "compassionate" but in actuality they are just as dubious at times, as conservatives and the right-wing.