Newt takes the hot seat on Fannie Mae

*Note: Former Speaker of the House Newt Gingrich's consult work was for Freddie Mac, sibling of Fannie Mae. Both are government sponsored enterprises.~~Editor/TUSR (Nov. 17)

Republican candidates for office, unlike Democrats, get vetted by media. Former Speaker of the House Newt Gingrich continues to rise in the polls and it comes as no surprise he’s the topic du jour on social media.

Some conservative publications in the camp of former Massachusetts Gov. Mitt Romney are also chewing on Newt right now. None of this should surprise.

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Ten executive targets Wall Street protesters could march to

Photo: US GovernmentI don’t like protesters going into neighborhoods and I really don’t like them going to homes. However, the Wall Street protesters have decided to target some executives’ homes and I came up with a list of potential “corruptees.”

Here are my ten suggestions for the Wall Street protesters and my reasons each target is on the list:

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Fannie Mae, another New Deal deal that soured $104 billion tax dollars

The Live Leak video from 2008 shows Rep. Maxine Waters (D-Calif.) angrily denying she took political contributions from Fannie Mae. As Open Secrets shows, Waters did receive such contributions. It would have been easy for Maher to have his staff fact check Waters’ denial—the data turns up in a Web search in seconds. Waters is a Democrat, so Maher gave her a pass.Fannie Mae, for progressive politicians, was the cash cow that kept on giving. From its creation under President Franklin D. Roosevelt in 1938 to an explosion in funds, the “Trillion Dollar Commitment”** announced by President Lyndon B. Johnson, Fannie Mae has enjoyed fierce protection from Democrats like Rep. Barney Frank (D-Mass.) and Rep. Maxine Waters (D-Calif.)

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Tell Geithner: Small biz and Main St. already bled enough

Tim Geithner was on the scene ahead of the financial meltdown and during the bailout. Now he wants to tax small businesses more.You have to hand it to the Obama administration’s Treasury secretary Tim Geithner. He has got some nerve. Geithner told the House of Representatives Small Business Committee that small businesses need to pay more taxes.

Don’t yawn just yet. Geithner’s proposal to raise taxes on anybody should place him in the World  Record Book for Scoundrels.

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Geithner suggests more multiplexes, admits GSE role in meltdown

Secretary of the US Treasury Tim Geithner testified before the House of Representatives Committee on Financial Services on Tuesday. Geithner’s remarks suggest the government will get behind the idea of increasing multiplex housing units. What’s even more interesting, however, is that a top ranking Democrat finally admitted the significant role of Fannie Mae and Freddie Mac in the financial crisis.

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GOP to hold hearings on GSE reforms—Fannie and Freddie included

Republicans plan to hold hearings in February in hopes of reforming GSEs—government sponsored enterprises like Fannie Mae and Freddie Mac. GSEs are the socialist-progressive model of these times; they’re popular at all levels of government. Bureaucrats and progressive (prog for short) politicians often allude to “public-private partnerships.” That term can easily be interchanged with “crony deals.”

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GOP must fix Fannie, Freddie ignored by Dems

Fannie Mae and Freddie Mac now guarantee all but a small percentage of home mortgages in the U.S.—Reuters said ‘more than 80 percent’ and Citizens Against Government Waste said ‘more than 90 percent.’

These two government-sponsored enterprises (GSEs) are (pardon the rhetoric) ticking time bombs for the US taxpayer. However, the Dodd-Frank Wall Street Reform and Consumer Protection Act touted by Democrats as landmark reform does nothing whatsoever to halt the flow of taxpayer money into the GSEs. As a matter of fact, The New York Times disclosed (according to Money News at Newsmax) taxpayers have funded $160 million in legal fees.

Money News said, “The bulk of the money — $132 million — went to defend Fannie Mae in securities suits and government probes into accounting irregularities allegedly occurring before the subprime meltdown sparked the housing crisis.”

Yet the significance of these GSEs in the housing meltdown is downplayed. No big media outlet will remind the American people some progressive Democrats in Congress blocked action on Fannie or Freddie every time reform was attempted.

The GSE train wreck has been ignored by big media and many in Congress.

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