Prague Twin

Wednesday, April 19, 2006

Freddie Mac is Back

The Washington Post reports that Freddie Mac will pay $3.8 million to settle a civil suit stemming from allegations of illegal campaign financing.

As we all know, this means they are totally innocent...

Brendsel's lawyer, Joseph E. Sandler, said in an e-mail: "The facts show that Mr. Brendsel conducted himself in all respects in an ethical, appropriate and lawful matter. We are pleased that the FEC has determined to take no further action in this case against Mr. Brendsel."

The FEC has determined not to take further action. Translation: They figure a $3.8 million fine is enough.

The "facts", Mr. Brendsel, show that Freddie Mac is a corrupted mega-corportation that engages in behavior that threatens to destroy our nation. The "facts", Mr. Brendsel, show that Freddie Mac very well may have bought our elected officials for favors.

Everyone involved in this case should be ashamed of themselves. Freddie Mac and its lawyers for buying out the (mostly Republican) politicians. The FEC for letting them get away with it (as if Freddie Mac will even feel any pain from losing $3.8 million. Please.).

But most of all, once again, our elected officials (especially House Financial Services Committee Chairman Michael G. Oxley (R-Ohio)) should be ashamed of themselves for breaking the law, and for their general greed.

No, most of all, anyone who votes for any politician in 2006 who was connected to this, should realize that they are getting the government they deserve: a corrupt, greedy, ruthless one, owned by people like Freddie Mac, and Fanny Mae.

If we keep justifying the re-election of such people because they have a "D" or an "R" next to their name, we are giving them exactly what they want.

Are you listening Daily Kos?


  • The amount of corporate malfeasance, corruption, and criminality in the last 10 years is astounding. And it has reached epic proportions during the George W. Bush No Corporation Left Behind administration.

    And remember, tort reform remains on the GOP agenda as a "must-have" before the preznit leaves office. I don't know if the GOP/corporate interests are going to get it, but I can see why they want it. Tort reform would rig the system in the favor of the rich, powerful corporations so that even when corporations REALLY do betray the public trust and in act in ways that help destroy our nation, we won't be able to hold them accountable.


    By Blogger reality-based educator, at 6:54 PM  

  • Reality-based educator, were you just as upset when Clinton took campaign money from the Chinese? The same Chinese that now have the ability to deliver warheads to the U.S. visa vi the "satellite technology" that the Clinton administration allowed them to have? Do you remember Enron? May I remind you of who's watch that happened under? May I also remind you of which administration was in power when they were busted? It may just be me but seems that you have given the Dems a pass. You may want to look into a little something called "Global Crossing" and find out about Democrat involvement. $18 million to Democrat national chairman Terry McAuliffe on a $100,000 dollar investment. Before you go calling the GOP fuckers you might want to hold your own to account first, especially if you really are responsible for educating people

    By Anonymous Arch Stanton, at 4:08 PM  

  • You'll notice, arch stanton, that I wrote how corporate malfeasance, corruption , and criminality has increased in the last 10 YEARS, a time period which would encompass the Clinton administration.

    The Clintons, Terry McAuliffe, Joe Biden, Joe Lieberman and may other Dems are completely beholden to corporate interests, regularly sell out middle class and working class Americans interests to their transnational corporate masters, and are beneathe contempt in my opinion.

    Before you insinuate that I'm a partisan who always attacks the other side and defends my own, you should check out my site to see that I am an equal opportunity attacker.

    I think Republicans like Tom Delay, Bob ney, John Doolittle, Randy Cunningham and Richard Pombo are criminals who should go to jail.

    I also think Democrat William Jefferson (LA) is a fucking criminal who needs some jail time to illuminate his ethically challenged self. Any other Dems come up dirty, they should be punished too.

    But one thing you have to admit, arch stanton. The sweetheart deals, the corporate tax breaks, the wealth of the top 10% have all skyrocketed since 2001. You'll note that wages have been stagnant the last three years while corporate profits are up 25%-40%, depending upon the industry.

    As much as some Dems are beholden to corporate interests, the GOP as a prty is beholden to corporate interests. In every case when the battle looms between middle class and working class people and corporate interests, the GOP ALWAYS comes down on the side of the corporate interests.

    And if you don't believe me, just ask Lou Dobbs, the CNN anchorman and commentator. He'll tell you the same thing. And Dobbs is not commie pinko liberal.

    By Blogger reality-based educator, at 5:20 PM  

  • RBE,

    I couln't have said it half as good myself.

    You go!

    By Blogger Praguetwin, at 6:22 PM  

  • So you give Clinton a pass for his first term, condemn Tom Delay before he is even convicted & I am supposed to give you a pass as objective?? I went to your site, and yes, you are a partisan.

    In what way do you find Lieberman guilty of being “completely beholden to corporate interests”? Like it or not America is a free market economy which includes said “evil” corporations. Don’t these corporations create jobs and tax revenue? In addition I don’t have to admit to any “sweetheart deals” for the top 10%, or that “wages have been stagnant the last ten years” However, now that you raise the issue, I would like for you to provide me with the evidence. (Quoting Lou Dobbs doesn’t count).

    By Anonymous Arch Stanton, at 10:46 AM  

  • arch stanton, I wrote "you'll note that wages have been stagnant the last three years while corporate profits are up 25-40%, depending upon the industry."

    You said I wrote “wages have been stagnant the last ten years.”

    Sorry, arch stanton, but it's pretty easy to debate somebody who misquotes a person in order to make political points when the transcript is just a few inches above to correct the record.

    In November 2001, real hourly earnings, adjusted for inflation, were $16.37. By November 2005 (a month in which real hourly earnings saw a 1% increase!), real hourly earnings were $16.32.

    That's a 5 cents decrease in the four years between November 2001 and November 2005. And the 1% increase in hourly earnings in November had more to do with a decline in energy prices in November 2005 than it had to do with the generosity of free market employers.

    Now keep in mind, since November 2005, we have seen a huge increase in energy prices, which further eats away at real hourly earnings. This is one of the reasons why so many people think the economy is in the toilet while the macro numbers (GDP, unemployement, inflation) look so good.

    Between energy costs, wage stagnation, outsourcing, layoffs in the manufacturing sector, skyrocketing health care, rising college costs, huge accumulated personal debt and lost pensions, many people are worried about making ends meet, paying their doctor's bills, sending their kids to college and being able to retire before their 80.

    While Bill Clinton is a corporate whore beholden to corporate interests, he's not even in the same universe with our corporate CEO preznit and vice preznit in creating an environment conducive to squeezing the middle and working classes for all their worth while enriching the transnationals and the investor class.

    BTW, the site where I got my real hourly rearnings info is at

    By Blogger reality-based educator, at 9:16 PM  

  • OK, so clearly it is a miss-quote, however, inasmuch as the original quote was as you say “just a few inches above” for anybody to read, to suggest it was for political points is a cheap shot. In addition you have not commented on the fact that the CEOs from Enron & Adelphia were brought before the court under the Bush administration.

    Why am I not surprised that someone who engages in typical leftist class warfare (as observed on your site) would obtain his economic indicators from a site that is founded/run by leftist hacks like Jeff Faux (too funny his last name should be Faux) and contributed too by Barry Bluestone & Robert Reich? The truth is there are economic indicators to suggest that things are very good. The person who relies on information provided by hucksters who have a political axe to grind undertakes the real quest for “political points”.

    So you ask, what are these indicators? Take for instance that real median household income has risen by 10,000 adjusted dollars since 1967, a stat that can be had at the U.S. Census Bureau. (Its clever how your friend Faux only tells us of hourly wages but doesn’t look at the whole picture) Or the fact that homeownership is at an all time high in the U.S. as 68 percent of the nations households are homeowners, this, yet another stat from the U.S. Census Bureau.

    And further more just who do you think the investor class is? Have a 401k or an IRA? If not, you better get on board soon, because your leftist friends over at the DNC are doing the best to make sure that there will be no S.S. reform and as such it is bound to collapse.

    So go ahead and poke the working man who has a 401k in the eye by calling him the “investor class” or wage your class warfare by relying on biased info if you want, for this working class card carrying member of a union, the truth is all I want.

    By Anonymous Arch Stanton, at 4:10 AM  

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