Fannie and Freddie are private entities under government control

[AllentownJake]

They were just allocated an extra 200 billion dollars on Christmas Eve in a news dump along with a story their executives would not be subject to some of the TARP compensation restrictions.

Dennis Kucinuch, whether you like it or not is in charge of a subcommittee that overseas this area of government. He is merely acting in his responsibility as a United States Congressman in it's oversight role of Executive Power. There is no plan to investigate the Chief of Staff or the organizations activity of previous years are not called into question.

I think with all the foreclosures this year, the Congressman from Ohio would be not living up to his oath of office, if he didn't ask a few questions in public under oath about this.

[NJmaverick]

1. Paul Krugman has a pretty good take on this

http://krugman.blogs.nytimes.com/2009/12/29/fannie-freddie-and-full-faith/

[AllentownJake]

3. I'll read it later

I'm about to head out, however, there is really nothing wrong or crazy about congress having a hearing when $200 billion in liabilities has been authorized.

[dixiegrrrrl]

2. Wayyyy too many people think Fannie,Freddie, and the Fed. ARE gov. agencies.

and so do not get the problem of taxpayers bailing out yet anotehr for profit company.
And yes, Fannie and Freddie are for profit, the profit part is run by an oversight board.

[AllentownJake]

4. The American populace has just been put on the hook for 200 billion more dollars

A few questions under oath aren't going to hurt anyone.

[Edweird]

5. But remember, there's NO MONEY FOR JOBS.

Billions to for-profit criminals and fuck ups, sure. But people that work for a living need to suck it up and beg the 'private sector'.

[AllentownJake]

6. I have my issues with asset allocation with the administration

but the point of this OP is to make people realize what Dennis K said today has nothing to do with Hamsher and Norquest's desire for an inquest into the Chief of Staff's activities 6 years ago.

[Edweird]

8. Sorry, not trying to threadjack.

[JDPriestly]

7. I understand Krugman's explanation,

but I have friends whose business is going under. They worked to build that business for close to 30 years. No one is helping them.