~ Where the Sun Will Never Set on Our liberty ~
Why bring this up? Because some Democratic candidates are lying about it again. And so we give you the truth, as a choice for an alternate reality.
The US 2008 Recession - Reality
It does seem that it still is hard to find truth on the US 2008 recession. Politics has become all hate and lies in the US, and political dishrags keep blaming it on whoever they hate most to get someone elected. Maybe I should do this as well. I really did hate the movie "Django Unchained." It was almost as mean and cruel as a political convention. So if I was as stupid as the people on TV, I would blame the US 2008 recession on that movie. But in all seriousness, it is easy to figure out what happened in the 2008 recession even if the internet will not tell you. All you have to do ... is to follow the logic and the money. Why people even lie about it amazes me. This one is too easy folks.
First of all, what was the name of the 2008 Recession? It was the Sub Prime Mortgage Failure Recession. Okay. Now who are the two largest mortgage companies in the US? Fannie Mae and Freddie Mac, both of whom were set up by the Federal Government. Fannie was set up in about 1938, and Freddie Mac in 1970. Both of their current names were shortened from their federal names of the Federal National Mortgage Association for Fannie Mae and the Federal Home Loan Mortgage Corporation for Freddie Mac. Why were they established? In order to get home mortgages for people that otherwise might not be able to afford them. What was the 2008 crash we heard? About bad subprime mortgages? One would think some people would just stop here with a match. But politicians will not even let us look "here," much less "stop here."
Okay, next we follow the money. The two bailouts were very different. The Bush TARP bailout was a LOAN in order to prevent an immediate run on banks and to keep organizations alive and was to be paid back. The Stimulus by Obama was FREE MONEY to whomever he wanted to give money to and no one need pay it back. And yes, I am bitter about the stimulus since my Middle Class family had a business and not only did ZERO go to me, but fees went up. It did not stimulate me. We in fact, went out of business in the Obama Stimulus era.
Okay let us follow the TARP money. Who were the biggest two recipients of TARP money? Fannie Mae ($116.15 billion), Freddie Mac ($71.34 billion). AIG and two General Motors group made up the rest as well as banks. Who did not pay back? I do recall at one time seeing a list of 5 who had not paid back yet. All of the banks with the lower amounts had mostly or all already paid back. Fannie Mae and Freddie Mac and the two General Motors groups and AIG had not paid back as I recall. I still to this day find info that says Fannie and Freddie never paid back and in fact wanted more money.
I just found an internet bailout list that does not even LIST Fannie Mae and Freddie Mac. Nope, just Hate those banks folks! Well, with the Federal debt they also seldom tell us that the two biggest amounts are the money politicians stole from our social security and then next the money they borrowed from the Treasury asking the Treasury to print worthless paper money to pay our bills. There seems a lot the politicians do not want us to know.
And so at the epi center of the problem were the GOVERNMENT created agencies of Fannie Mae and Freddie Mac. Those two were also at the top of the TARP money list and the top of the "Who did not pay back list." And who were the two government people in charge? Chris Dodd was in charge of banks and Barney Frank in charge of Fannie and Freddie. They not only did not stop the problem, they never even saw it coming and warned us. They were doing what instead?
Okay, so now who do we hear on TV was the 2008 recession problem. The banks! Kill the banks! You mean the ones that got less money and paid back early? And I also hear Kill Wall Street! Wall street? So people who make electronics and toys and YOUR food and YOUR clothes were somehow involved with mortgages. How odd? I say "No! Kill that stupid movie Django Unchained." God I hate that movie.
And how about Chris Dodd and Barney Frank who were the government people watching this? They lost their jobs and were tarred and feathered? No? NO! They were rewarded with doing the Dodd Frank Bill to punish banks and Wall street for being better than Fannie and Freddie and themselves and paying back quick.
And so instead of fixing the issue, the politicians punished the innocent and rewarded the guilty. Well, what is the problem with that? Well some people actually believe the lying evil politicians. I do not of course. I check out their stories. But the second issue is that they never get to the bottoms of the real issues while they crucify the innocent they hate so much. I have some real questions. Here is one. Okay, if the government helping with subprime mortgages caused most of the 2008 crash, then why did it somewhat work from 1938 to 2007? No one will of course answer that. Someone said there was some kind of change during the Bill Clinton years. Now since I do not hate Bill Clinton, and in fact think he was one of our best presidents and a total opposite of Obama, I would like to know what happened. I would like us to find out what it is. But as long as politics and lies and hate is more important to the brain challenged in this country than truth, fixing things, or the health of the nation, we likely will never get the answer. But ... we do know part of what happened ...at least I certainly do.