Kucinich to Investigate Fannie/Freddie Bailout

[kpete]

Dennis Kucinich just released this statement:
http://www.opednews.com/articles/Treasury-s-Assistance-to-F-by-Dennis-Kucinich-091229-963.html

As Chairman of the Domestic Policy Subcommittee of the Committee on Oversight and Government Reform, I’m announcing that the Subcommittee will launch an investigation into the Treasury Department’s recent decision to lift the current $400-billion cap on combined federal assistance to Fannie Mae and Freddie Mac, opening the way for additional, unlimited funds through the end of 2012. This investigation will include the role played by Fannie Mae chief executive Michael J. Williams and Freddie Mac chief executive Charles E. Haldeman in the decision, if any, and will seek to ensure that the additional assistance is used for homeowners and not Wall Street.

Many questions remain unanswered regarding this move by the Treasury. Why suddenly remove the cap? Indications are that Freddie and Fannie, even as millions of Americans lose their homes, have used just $111 billion of the $400 billion previously available to them. Is lifting the cap on assistance a back-door TARP?

Additionally, I want to determine whether Fannie and Freddie have a cohesive plan to buy up the under-performing mortgages that remain on the books of the big banks, at appropriate prices, and undertake a massive reworking of the terms of the mortgages so as to stem the foreclosure crisis that continues to plague our country.This new authority must be used responsibly and for the benefit of American families. This cannot be used simply to purchase toxic assets at inflated prices, thus transferring the losses to the U. S. taxpayers and acting as a back-door TARP.


more:
http://fdlaction.firedoglake.com/2009/12/30/kucinich-to-investigate-fanniefreddie-bailout/

[jgraz]

1. In other words, Kucinich is a RACIST FUCKING PIG!!!!

Just getting out ahead of the apologists...

[rudy23]

2. Again, for those playing at home

The words to look for over the coming weeks are:

Naderite, Hamsherite, Norquist, leftbagger, kook, UFO, little/some play on height, grandstanding, whiner, hater, haterade, 3-5%, pro-life, pony, angry elf, dwarf, piece of shit, little shit, fucker, FUCK, and cracks about his wife.

Let's see once again if a valid criticism of Dennis's actions can be achieved without these magic words being referenced.

[Echo In Light]

3. That about covers it

lol

:P

[LWolf]

4. That's a fairly comprehensive list.

I'll bet you a rec on your next OP that the "opposition" will offer up attacks, but no substantive reasons for opposition.

[inna]

7. You forgot Firebagger.

[berni_mccoy]

5. As requested by Hamsher/Norquist. Let the witch-hunt begin.

Because the Treasury's role is to change law:sarcasm:( which they didn't do)

[rudy23]

9. That's on the list! Bonus points to anyone who guessed the first offender.

I had my money on someone else. He must be sick today.

[Bluenorthwest]

10. How ironic that you would use the term 'witch hunt' which is

in fact what you are doing.

[berni_mccoy]

12. It's what you and others here are doing to Rahm. Following the Hamsher/Norquist lead.

[mzmolly]

6. Nothing wrong with oversight.

:hi:

[izzybeans]

8. I wonder if Fannie Mae would have okayed the short sale of my home without

this bailout. Maybe Dennis can help me out with that question. fingers crossed that we close.

This should be done with all bailouts though. To what use is the money being put towards?

[Vidar]

11. Bravo Dennis!