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Just Another D.C. Hypocrit?

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Anonymous

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This always makes me chuckle- some of those that scream the loudest about government programs, grants, and subsidies-- are the first to dip into the cookie jar...

Bachmann benefitted from federal home loan program

By Kimberly Kindy, Tuesday, July 26, 10:08 AM
Like many members of Congress, Rep. Michele Bachmann has been a fierce critic of Fannie Mae and Freddie Mac, blaming the government-backed loan programs for excesses that helped create the financial meltdown in 2008.

And like millions of other home purchasers, Bachmann took out a home loan in 2008 that offered lower costs to the borrower through one of the federally subsidized programs, according to mortgage experts who reviewed her loan documents.

Bachmann benefitted from federal home loan program
Just a few weeks before Bachmann called for dismantling the programs during a House Financial Services Committee hearing, she and her husband signed for a $417,000 home loan to help finance their move to a 5,200-square-foot golf course home, public records show. Experts who examined the loan documents for The Washington Post say they are confident that the loan was backed by Fannie Mae or Freddie Mac.


Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.

Bachmann has been the most outspoken critic of the loan programs and other government subsidies among Republican presidential candidates. Former Minnesota Gov. Tim Pawlenty also has called for dismantling Fannie Mae and Freddie Mac. Experts who reviewed his mortgage documents said there is no way to tell whether his home loan from 1994 had government backing.

Bachmann’s mortgage loan was part of a package of debt that she and her husband, Marcus, assumed to buy their home, public records show. They also have other loans, including a home equity line of credit, a business mortgage and another business loan for their Christian counseling clinics, bringing their liabilities to more than $1 million, according to the most recently available public records.

The Bachmanns’ assets, according to her latest financial disclosure statement, range between $862,018 and $2 million.

Their total income has not been disclosed, but Bachmann earns $174,000 as a member of Congress. There is no evidence that they cannot support their current debt.

In her public life, Bachmann has criticized government subsidies and said that federally backed home lending programs place an undue burden on taxpayers.

She is also a leading critic of expanding the federal debt limit. “When managing your family budget, you don’t spend money you don’t have,” she said in a statement last year, “and our government should be no different.”

The couple’s personal finances have come under recent scrutiny with disclosures that they and family members have accepted subsidies for both a family farm and for Bachmann & Associates counseling clinics.
 

Mike

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I see nothing wrong with a Congresswoman using a program that is currently used by the U.S. citizens as a whole. Whether she agrees with their underhanded shenanigans or not.

Now if she had gone to ANGELO and gotten preferential treatment, that's another story.

You're a real tool.............................
 
A

Anonymous

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In her public life, Bachmann has criticized government subsidies and said that federally backed home lending programs place an undue burden on taxpayers.
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Bachmann benefitted from federal home loan program
Just a few weeks before Bachmann called for dismantling the programs during a House Financial Services Committee hearing, she and her husband signed for a $417,000 home loan to help finance their move to a 5,200-square-foot golf course home, public records show. Experts who examined the loan documents for The Washington Post say they are confident that the loan was backed by Fannie Mae or Freddie Mac.

So as long as its yourself personally profiteering- you can/should discard your personal ideology and principles :???: :wink:

TEAPARTY- what a joke.....
Just like all the rest- they are out for themselves and whichever lobbyiest stuffs their pockets fullest....
 

hypocritexposer

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Experts who examined the loan documents for The Washington Post say they are confident that the loan was backed by Fannie Mae or Freddie Mac.


Oh, the experts are confident, then it's settled.....


:lol: :lol:


I remember OT being confident that Christine O'Donnel stole campaign funds too.
 

loomixguy

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Oldtimer said:
[/b] Experts who examined the loan documents for The Washington Post say they are confident that the loan was backed by Fannie Mae or Freddie Mac.
.

The "experts" who examined the documents may be "confident", but can they prove it? Have they proved it, Methuselah? Or do they just IMAGINE it to be so? Helluva example of juris prudence you are.

I prefer the term "doorknob" over "tool", Mike. It's much more fitting in this case.
 

Mike

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So as long as its yourself personally profiteering- you can/should discard your personal ideology and principles

How are you personally profiteering by taking out a mortgage?

Unless you don't pay it back, or get a rate break from ANGELO.

If she is paying her mortgage timely, Fannie Mae and/or Freddie Mac could use a helluva lot more like her.
 
A

Anonymous

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Mike said:
So as long as its yourself personally profiteering- you can/should discard your personal ideology and principles

How are you personally profiteering by taking out a mortgage?

Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.
 

loomixguy

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Oldtimer said:
Mike said:
So as long as its yourself personally profiteering- you can/should discard your personal ideology and principles

How are you personally profiteering by taking out a mortgage?

Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.

Methuselah can bitch about Bachmann, but it makes one wonder just what kind of loan a "certain someone" is applying/applied for to buy a half million dollar lakefront home for 50 cents on the dollar? Eh???
 

Larrry

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Experts who examined the loan documents for The Washington Post say they are confident that the loan was backed by Fannie Mae or Freddie Mac.


They must not be to sure or the word OR wouldn't be in that statement
 

Mike

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Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.

Do you even know what kind of government backing Fannie Mae gets?

That's right, it's only a bailout when they make bad loans. Guess you're gonna biatch next about Bachmann buying a GM car because the gov't bailed them out?

You're still a tool..................................
 
A

Anonymous

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Mike said:
Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.

Do you even know what kind of government backing Fannie Mae gets?

That's right, it's only a bailout when they make bad loans. Guess you're gonna biatch next about Bachmann buying a GM car because the gov't bailed them out?

You're still a tool..................................

So you still think her thinking she should get lower interest rates because of the government backing while vehemently trying to stop the program for other people in the country to get low interest rates because of the same government backing isn't being a hypocrit :???:

Talk about being a tool- sounds like a cultist tool to me... :wink:
 

redrobin

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Oldtimer said:
So you still think her thinking she should get lower interest rates because of the government backing while vehemently trying to stop the program for other people in the country to get low interest rates because of the same government backing isn't being a hypocrit :???:
You're not real bright are you.
 

redrobin

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.......These mortgage loans are sold on the secondary market, which mainly consists of two organizations, Fannie Mae and Freddie Mac. The secondary market is the place where mortgages are bought and sold by various investors. Secondary market investors include Fannie Mae, Freddie, various pension funds, insurance companies, securities dealers, and other financial institutions. All of the loans sold to Fannie Mae and Freddie Mac must meet certain guidelines for credit worthiness and repayment likelihoods.

The secondary mortgage market exists as a source of money for banks to lend out to home buyers in every state. This is done in two ways:


•Pay cash for mortgages that purchased from lenders and hold those mortgages in Fannie Mae's investment portfolio. The lenders, in turn can use that money to make more mortgages for more home buyers.
•Second the secondary markey issues what are known as Mortgage-Backed Securities (MBS) in exchange for pools of mortgages from lenders. These MBS provide the lenders with a more liquid asset to hold or sell. MBS are highly liquid investments and are traded on Wall Street through securities dealers.
 

loomixguy

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Until it's proven who issued her loan, you're just blowing smoke, Methuselah. God forbid we shut down a program that the deadbeats who vote Democrat have raped and pillaged into oblivion......
 

Mike

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Oldtimer said:
Mike said:
Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.

Do you even know what kind of government backing Fannie Mae gets?

That's right, it's only a bailout when they make bad loans. Guess you're gonna biatch next about Bachmann buying a GM car because the gov't bailed them out?

You're still a tool..................................

So you still think her thinking she should get lower interest rates because of the government backing while vehemently trying to stop the program for other people in the country to get low interest rates because of the same government backing isn't being a hypocrit :???:

Talk about being a tool- sounds like a cultist tool to me... :wink:

As I type this very slowly for you to read, please try and comprehend.

Fannie Mae is a private company with stock prices just as corporations have.

The government does not "back" them until they get into trouble and then the gov't buys shares of stock to sell and makes full value loans to them which they must pay back.

Those things do not make them low interest loaners. They still must keep interest rates at market value to meet competition.

If Bachmann met all the requirements, she may not have known her mortgage went through Fannie Mae. If she did, I don't blame her for it.

In 1938, Fannie Mae was established by the US Government to promote the growth of home ownership by providing a secondary mortgage market. What is a secondary mortgage market? Well, the secondary mortgage market exists in the buying and selling of a mortgage from one lender to another. The bank, or Mortgage Company that provided you with your loan, can turn around and seek to sell your mortgage to a company such as Fannie Mae. This frees up their cash to make another mortgage loan. And the cycle of growth is expanded and sustained in this manner. The idea and concept worked, and today, Fannie Mae has helped millions of Americans achieve the dream of home ownership. Until recently, Fannie Mae was a part of the US Government, and was overseen by the Housing and Urban Development branch of that government. Now, however, Fannie Mae is a privately held, stock ownership company that promotes the growth of the housing industry by making it possible for many low-to-middle income Americans to own homes. Investors just like you and I can purchase stock in the Fannie Mae Corporation, and not only increase our won wealth, but also help to fund the home ownership possibilities for a new generation of Americans.

In 1968, just thirty years after her government commissioned birth, Fannie Mae became a private company operating with private capital. She had outgrown her need for federal funding and supervision.
 

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Oldtimer is like a mutt with a bone. All he sees is a way of bashing a conservative Tea Party member and his mind shuts down to COMMON SENSE. :roll:

Oldtimer we are still waiting for you to comment on this topic

http://ranchers.net/forum/viewtopic.php?t=52837

and this one that has a zipper alert just for you. :wink:

http://ranchers.net/forum/viewtopic.php?p=529769#529769
 
A

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Tam said:
Oldtimer is like a mutt with a bone. All he sees is a way of bashing a conservative Tea Party member and his mind shuts down to COMMON SENSE. :roll:

Oldtimer we are still waiting for you to comment on this topic

http://ranchers.net/forum/viewtopic.php?t=52837

and this one that has a zipper alert just for you. :wink:

http://ranchers.net/forum/viewtopic.php?p=529769#529769

Same O Tam-- try to blame the messenger and change the subject...

So now do you think Fanny and Freddie are good programs like some seem to be flipflopping and saying ?

Or are you like Congresswoman Bachmann and only think its a good program when you are getting benefits by using it - but don't think it should be available for anyone else in the country to use?
 

Tam

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Oldtimer said:
Tam said:
Oldtimer is like a mutt with a bone. All he sees is a way of bashing a conservative Tea Party member and his mind shuts down to COMMON SENSE. :roll:

Oldtimer we are still waiting for you to comment on this topic

http://ranchers.net/forum/viewtopic.php?t=52837

and this one that has a zipper alert just for you. :wink:

http://ranchers.net/forum/viewtopic.php?p=529769#529769

Same O Tam-- try to blame the messenger and change the subject...

So now do you think Fanny and Freddie are good programs like some seem to be flipflopping and saying ?

Or are you like Congresswoman Bachmann and only think its a good program when you are getting benefits by using it - but don't think it should be available for anyone else in the country to use?

Typical Oldtimer Putting words in my mouth that I didn't say :roll:

Do you have ANY PROOF that Michele knew who bought her mortgage? :?

Can you grasp the facts that when a person gets a mortgage, the BANK SELLS IT to get money to make more loans and you really have no say in WHO BUYS IT FROM THE BANK. :roll:

Tell us oh wise one Does your son know who really owns his cheap lake front property low interest mortgage? Does he know for sure his bank didn't sell his mortgage to Fanny or Freddy so they have the money to make another loan? :roll:
 

hopalong

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Oldtimer said:
Tam said:
Oldtimer is like a mutt with a bone. All he sees is a way of bashing a conservative Tea Party member and his mind shuts down to COMMON SENSE. :roll:

Oldtimer we are still waiting for you to comment on this topic

http://ranchers.net/forum/viewtopic.php?t=52837

and this one that has a zipper alert just for you. :wink:

http://ranchers.net/forum/viewtopic.php?p=529769#529769

Same O Tam-- try to blame the messenger and change the subject...

So now do you think Fanny and Freddie are good programs like some









YOU are the biggest flip floppier changing subject a$$ hole there is oltomer

Or are you like Congresswoman Bachmann and only think its a good program when you are getting benefits by using it - but don't think it should be available for anyone else in the country to use?

YOU are the biggest flip floppier changing subject a$$ hole there is oltdmer

You do not like what those of us on this site say about you, but then you do not handle yourself on the other sites either, get you butt handed to to you one them too :D :D :D
 

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