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Another Embarrassment For Obama As Senate Blocks Nomination Of Mel Watt To Head Fannie, Freddie
In what is merely the latest humiliating blow to Obama, moments ago, in a 42 to 56 vote, Senate Republicans blocked President Barack Obama's nominee to oversee the FHFA - the administration in charge of mortgage finance giants Fannie Mae and Freddie Mac, which in turn are so instrumental to restoring housing as the primary source of "High Quality Collateral" (and its securitization), which in turn is critical to allow the Fed to eventually step away from QE. The defeat on a procedural vote for the nominee, Democratic Representative Mel Watt of North Carolina, came despite an aggressive White House push in the past few days to round up support. The vote against limiting debate on Watt's nomination was 56-42, four short of the needed 60 votes to move ahead in the Senate. Whether this means that Moody's ADP's Mark Zandi is back on the table as a potential nominee is unclear as of this writing.
As we pointed out back in May, all those mostly financial lobby supporters of Mr. Watt are encouraged to see their money back.
From: In Whose Pocket Is Mel Watt?
Following the earlier reported devastating news for Mark Zandi fans (all one of them, including Mr. Zandi himself) that the Moody's economist/ADP seasonal adjuster, will not be the next head of the GSEs, and instead that privilege will go to North Carolina Democrat Mel Watt, we decided to take a quick look in whose pocket the career Congressman (elected into congress in 1992) truly lies. We are delighted to announce that with Mr. Watt's lobbying dollars coming almost exclusively from Wall Street, Lawyers/Law Firms, and Labor Unions, the $7+ trillion in US mortgages, and sole source of mortgage creation in the US, is in "very good", if just a little conflicted and quite socialist, hands. Mortgage forgiveness-demanding, crony capitalist comrades of the world, unite! (while charging $1000/hour)
Mel Watt's biggest career contributors by industry:
Mel Watt's biggest career contributors by company:
Source: OpenSecrets
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what is funny is.... they are merely offloading cash they made from the bailout back into the government...big circle J - http://
hedge.ly/177cmgH
Mel Watt, who deserves to be scrutinized as deeply as he gutted the Audit the Fed bill. Mel Watt who has allegedly done some shady RE deals in Charlotte with some big hitters.
Congressman Melvin Watt lists on an amended August 2012 financial disclosure statement that he is a 25% owner and a Director of Westside 2000, Ltd., showing a reported value of $15,000-$50,000. This partnership also lists former Charlotte NC mayor Harvey Gantt and prominent NC attorney John W. Gresham as being involved, among others.
Westside 2000, Ltd owns a number of real estate parcels according to Mecklenberg County public records, a few unencumbered by debt. In 1997, the group bought a landmark Charlotte property for $2,000,000 and sold it six years later for $4,200,000. It was sold to a controversial church group called United House of Prayer under the entity Madison Saints Paradise, LLC.
My question to Congressman Watt is, why do you place such a low value range on a partnership which clearly has assets that are worth in excess of your disclosure? As a follow up, what is your relationship with UHOP, which has vast holdings in real estate?
Repost from 5/1/2013
http://www.legistorm.com/showPdf/ls_disclosure-member-2012-annual-amendment-524.pdf
http://www.accessmylibrary.com/coms2/summary_0286-5567801_ITM
http://www.churchcentral.com/article/1014/Church-buys-landmark-cafeteria-hotel-for-4-2-million
http://www.gpo.gov/fdsys/pkg/CRECB-2001-pt20/pdf/CRECB-2001-pt20-Pg28030-2.pdf
Bring back Franklin Raines !!!
Did a cop just bend over and get spanked?? Hell NO!
Still waiting for Raines to be investigated for his crimes while at FNMA. They only go after certain folks.
This is what happens when a Kenyan born, Chicago thug runs the USA.
Wait till they get to the bottom of Bengahzi...I bet that while it was going down Valerie Jarrett told Barry to go off and do something else, cause if he responded with military force, impliedly it would mean he was wrong about terrorism being on the run and it would scuttle his hopes for re-election. I bet when the investigators dig and get the interviews they want they will find out that the admninstration didn't just lie about what happened (that it was a spontaneous response to a video) but that they sacrificed a US Ambassador and 3 Americans so that O could get re-elected. Just watch...
Seems the power structure centered on Obama is going to have to pony up more payoffs, bribes, etc. to get their agenda through.
And a pol, a black pol no less, is a scumbag piece of shit. Anyone shocked?! Next thing you know they'll be saying that the world is round.
This illustrates again the racist nature of America . . .
k/sarc - in case you were too dense to know that immediately.
-30-
King OBozo doesn't have a sense of moraily, consciousness. He lives in a preverted self indulgent fantasy land where everybody his is minion to control. The opposite is quite true.
Great. This is where the Senate decides to take a stand against bullshit? I suppose after this it's carry on as usual?
Ain't they brave!
Bastards.
No shit. Obamacare and having no debt ceiling are a-ok, but goodness anything but Mel Watt!
Oblahbah will wait for the thanksgiving break and do one of his many recess appointments then send a note saying "what you gonna do about it pussies, my people lied their ass off under oath and you have yet to do anything, hahahahahaha"
What ? Who is Mel Watt ? Dunno nothing about the guy. Another phony scandal. Forward ! When's my tee time....
That's right folks, VOTE!
Your "Representatives" in CONgress think it's quaint that you do, and makes you cuter.
another lawyer running things....this ought to work out well.
This guy was easy to stand up against. He ain't in the club, let's see them shoot down Yellow Stain for FED head and then I'll change my opinion.
A left/right paradigm a day keeps the evolution of consciousness away.
+1! Wheres the Limrick king? He needs to run with this shit...
One may only pray for a line ending "market rigger"
DemocRATS and RepubliCUNTS. The game continues. Only lizards can hold this position.
Over.
True, and there are some geckos who think they're in the club but they ain't. Hilarious!
Give it a day or so and the usual suspects will start whining that racisyism is somehow the reason for him not being nominated.
Has Obama given a high level to any white males?
yep, a white guy to head the FBI, which also happens to be former bush guy. cant find the link from earlier, but someone posted his wikipedia page. 'round and 'round we go
Yeah, a "white" FBI director who's now requiring FBI agents to visit the Martin Luther King Memorial in addition to the Holocaust Memorial! Lenin's Tomb is sadly too far away.
...Which Holohoax Manurial? There are a few hundred worldwide - including iin places that had absolutely nothing to do with The Holocaust ©.
* when uttered must be empahasized like in "The Ohio State University". Mostly because - as the Armenian-Americans found out after having the Kosher Kongress reply with a resounding, "Nyet" when trying to get the Armenian Holocaust recognized - there can be only one, and there's no business like Shoah business. The Turkish delegation's protests were window dressing for the real objections.
P.S. as students of unfiltered history understand, 1.5MM mostly Christian Armenians were slaughtered and had their properties stolen by the Young Turks (who were founded, funded, and led by the same tribe who 100 yrs later pressured the US Congresss to NOT recognize their slaughter of the Armenians).
http://en.wikipedia.org/wiki/List_of_Holocaust_memorials_and_museums and this list of 150+ is NOT comprehensive.
O RLY....as soon as the FED can get the MBS debacle back on it's feet then it will 'step away'....pffft yea sure, whatever.
It's like a roll call of Fascism
The absolutely most corrupt rise to the top everywhere....such a wonderful country...USA! USA! USA!
Soft, cool fascism, but fascism nonetheless. Welcome to 21st century USA.
How about Mulattoism instead?
What about Lee Farkas?
He seems like a shoe-in to run FHFA. Oh, that's right, he's in prison.
Why not approve him now, we are already a full on banana republic backed by the police state.
Must not have been sufficient rails greased to slide this guy on in there.
Is there, at last, someone too corrupt to be approved for a federal post? Naaah ...
ObaMao wanted a totally corrupt scammer to head up the housing clearinghouses....gee, imagine that!
While the DOJ is trying to fuck America over...
http://washingtonexaminer.com/ted-cruz-criticizes-doj-for-arguing-intern...
Ted Cruz criticizes DOJ for arguing international treaty can trump the ConstitutionJustice Department attorneys are advancing an argument at the Supreme Court that could allow the government to invoke international treaties as a legal basis for policies such as gun control that conflict with the U.S. Constitution, according to Sen. Ted Cruz, R-Texas.
These fuckers really want war...
http://www.libertyfederation.com/have_we_had_an_endrun_around_the_2nd_am...
Have we had an endrun around the 2nd amendmentThere are numerous alarming reasons why the US government and the military have been buying up all the ammo. Here’s one of them. Obama and the EPA just shut down the last lead smelting plant in the US. They raised the EPA regulations by 10 fold and it would have cost the plant $100 million to comply. You can own all the guns you want, but if you can’t get ammo, you are out of luck.
Remember when Obama promised his minions that he was working on gun control behind the scenes? Welcome to it. Now, all domestic mined lead ore will have to be shipped overseas, refined and then shipped back to the US. Not only will ammo now be even harder to come by, the demand and the process of supply will cause the price to skyrocket even more. And ponder this… there is an excellent chance that Obama will rig the market to where all ammo has to be purchased from a government entity instituting de facto ammo registration. So much for the Second Amendment. There has not been a peep about this in the major news outlets and it is done. With the US no longer producing lead, all supplies will now have to come from China, Australia or Peru, with the overwhelming emphasis on China. More redistribution of wealth; more economic and liberty crippling of the US on tap.
Easy.
Go to the junk yard and collect as many lead tire balancing weights as you can get.
Get one of these:
http://www.ebay.com/sch/i.html?_sacat=0&_nkw=lead+melting+pot&_frs=1
then search ebay for bullet mold. Get one for your caliber.
And one of these.
http://www.mrbulletfeeder.com/
Supply your neighborhood.
Over.
If SHTF scenario and lead is scarce, find a racer in your neighborhood. Car racer, go-cart, whatever. The inside frame rail of the race car/ go-cart will be filled with lead. Drill a hole at the lowest point, heat the steel frame and the lead will pour out.
Silver bullets.
Actually, Treatys are handled differently than "agreements." Treaties, once ratified by the Senate, hold the power of law.
Scary stuff.
Article 6
This Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding.
What the DOJ is trying to do is get a Court opinion that undercuts the precedent established by Reid v. Covert, then its game over, like I've saying here since at least a year ago (to cite the most recent 3 examples the Google NSA bot returned)
All this sleazy cronyism supports the idea that one big Congressional flush would be a lot more productive.
I might support a nomination for Mel Zetz, but Zandi is a complete idiot, we don't need anymore pandering idiots.
Hey the FEDs S&P 500 software should be at the tops of those lists.
A driver was stuck in a traffic jam on the highway outside Washington , DC . Nothing was moving. Suddenly, a man knocks on the window. The driver rolls down the window and asks, "What's going on?"
"Terrorists have kidnapped the ENTIRE US Congress, and they're asking for a $100 million dollar ransom. Otherwise, they are going to douse them all in gasoline and set them on fire. We are going from car to car, collecting donations."
"How much is everyone giving, on an average?" the driver asks.
The man replies, "Roughly a gallon."
Franklin Raines, is that you ???
(from the pig farm) -- Oink?
So Sherman Hemsley isn't gonna Move on Up?
Lol, same thought here. Actually my first reaction was "is that a black Mr Rogers?"
That guy could not head anything, he could only anus it.
Wait a freaking minute-it wasn't Repubs ONLY who defeated this guy-if they had 56 votes they would be the MAJORITY party in the Senate-they are not. Must have been a few Dems in there too.
But they're all probably just raaayy-cyst.
They didn't have 56, they had 42, enough to block reaching the 60 votes needed. Do you think any of the Demz would actually dare oppoose anything Dear Leader wants???? I want some of what you're smokin' ;)
Does this President hire anyone who is not Black, or gay, or gay blacks?
I know Republicans are racist, but EVERY appointee lately is a monority.
It causes someone like me, who doesnt think they are racist, to wonder if its me, or him? I thought we were supposed to hire the best and brightest. I guess brightest is not a term denoting lumens.
yes, he actually hires mostly women
"yes, he actually hires mostly women bitchez"
Fixed that for ya. ;)
That list is just disgusting and it illustrates in a nutshell why the US has gone so badly wrong. Corporations and labor unions should not be allowed to contribute to political campaigns or PACs. Only individual citizens should be allowed to contribute.
Anyone saying "who cares about Mel Watt" needs to pay more attention. This guy would have been a disaster of epic proportions. Expanding Fannie and Freddie, forgiving people who still can't afford their mortgages after all of the modification programs already out there, and general all-around crony-capitalism. This is the only time anything that has gone in on DC has made me happy since... ummmm... uhhhhh..... ????...... the point is I'M HAPPY
Exactly. I would prefer to see Ed DeMarco continue on as FHFA head. He has done quite well at protecting the taxpayers' interest thus far. Mel Watt brings nothing to the table in terms of industry experience or expertise. He was nominated to further Obama's quests to redistribute wealth through loan forgiveness and to ensure a permanent Democratic majority of free-sh*t voters.
this guy licks banker boots for breakfast
Yawn. Let me know when they vote to shut down Fannie & Freddie, and get the fedz out of the housez buziness. Then that would be newsworthy.... zzzzz.....
I heard Angelo Mozilo is available...
Maybe somebody with industry experience, like Bob the Builder...
Mel Watt never did a thing on City Council here in Charlotte except solicit bribes from the banks to do their bidding. He never did anything in Congress except solicit bribes from the banks to do their bidding. If confirmed he would make Fannie anf Freddie nothing but wholly owned subsidiaries of BofA and Wells Fargo. What a shock.
Good.
These Black Guys are coming out of the woodwork!
((((((((((COCK BLOCK))))))))))
Mel is only being blocked because he is not corrupt enough. FORWARD!
Isn't one lying, colluding, criminal negro enough? Do we really need an encore?
http://en.wikipedia.org/wiki/Franklin_Raines
Best news of the day. Now to the Rand Paul filibuster of Yellen unless an up-and-down vote on Audit the Fed is finally allowed by Reid. Yellen may not be a sure thing after all! Either way we win since Audit the FED will be sure to pass with a roll call vote.
Other than having a (D) behind his name (and another in his mouth and another in his ass), what qualifications does this guy have to run an organization that controls in effect trillions of dollars of assets and which so heavily impacts every facet of the US economy?