Tag Archives: Fannie Mae

Feb 19 2009

Obama’s foreclosure-prevention plan is sparking outrage Americans who won’t qualify for federal aid, and from those who resent having to foot the bill for those who do

While real-estate professionals applauded the refinance provisions, which the White House says could help four million to five million homeowners, lots of borrowers wouldn’t be eligible. For example, the refinance provision is limited to borrowers whose mortgages are owned or securitized by Fannie Mae or Freddie Mac, the government-backed mortgage companies.

Jim Stoll, 67, of Stafford, Va., said tax cuts would be more equitable. “I look at all the spending in this bill, and I don’t see it going to the normal taxpayer,” said Mr. Stoll, who spent 26 years in the Marine Corps and an additional 16 in civil service. “If they have to spend money, then it would be easier to put it in consumers’ pockets and let them do with it what they will,” he said. Read More

Just as I have said many times, Obama isn’t helping the people who voted him into office that thought they would get help that really needed it! The poor blacks and whites are left out of the loop to keep on suffering. You need to read the whole story to understand, so go back and read it from the source!

Feb 5 2009

Young but influential Chicago politician, the American president helped to create the housing bubble.

At the heart of it was a 1995 amendment to the Community Reinvestment Act which legally required banks to lend money to buy homes to millions of poor, mainly black Americans, guaranteed by the two biggest mortgage associations, Fannie Mae and Freddie Mac. And no one campaigned more actively for this change to the law than Mr Obama, as a young but already influential Chicago politician.

It was this Act which, more than anything, helped to create the US housing bubble. Read More

Barack Obama’s connection to the Housing melt down is a story for the movies and his election to The White House!

Jan 30 2009

Allege plot to destroy Fannie Mae data by citizen of India

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Makwana, a citizen of India, was fired early on the afternoon of Oct. 24 from his job at Fannie Mae’s data center in Urbana, about 35 miles from the company’s Washington headquarters, according to court records. An affidavit states he was fired for erroneously writing programming instructions two weeks earlier that changed the settings on high-speed computers called servers that are connected to multiple network users.

Before surrendering his Fannie Mae badge and laptop computer at the end of the day Oct. 24, Makwana “intentionally and without authorization caused and attempted to cause damage to Fannie Mae’s computer network by entering malicious code,” according to an indictment returned Tuesday.

The code, if executed this Saturday as planned, “would have resulted in destroying and altering all of the data on Fannie Mae servers,” the indictment states.
Makwana was arrested Jan. 7 and released on $100,000 bond Jan. 8, according to court records.
Read More

Smart government to have citizen of India a muslim country working in such companies. What happen to the so call democrats oversight? We have been warn by Bin Laden that the next attack on America will come from inside our own government….I can see now that would not be that hard for terrorist to do just that. Heck a person can run for president without having to prove citizenship so why shouldn’t it happen?  My question is if this arrest was made on Jan 7th then why did the media hold it until today 30 Jan?   Didn’t want to take any of the spot light off Obama did they!