The Rabid Conservative

Think Right, Act Right, Be Right.

TRC – Media Trickery Hides Democrat Hypocrisy

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Well, did you catch the news on Friday last?  Probably not if you were just getting ready to head out for the weekend, but I give you reference to this little gem that you should see.

In any case, many of the major news sources didn’t bother to pay attention to this.  Turns out that Fannie Mae and Freddie Mac, the two government-owned mortgage giants that own about 40% of the housing market announced Friday that they would be paying out $210M in corporate bonuses out of the $200B in bailout funds from the Treasury Department

So, where is the outrage, Mr. (or Mrs.) Barney Frank?  Why aren’t you dragging the executives before your little House Court of Horrors to make them answer for the disbursement of these bonuses the same way you dragged the CEO of AIG through the mud?  Where’s the anger, Nancy Pelosi and Harry Reid, that motivates you to impose a 90% punitive reclamation tax on them, like you did with AIG?

Well, to sum things up for you, I crafted this little table to illustrate the problem.

  AIG Fannie/Freddie
Bailout $170B $200B
Bonus Payout $165M $200M
Outrage Extreme Nil
Why? Owned by shareholders and operated by Wall St. Controlled by gov’t bureaucrats chaired by Banking Queen Barney Frank

 

The point here is two-fold.

First, when did the media release this little bit?  At the end of the day, when the lowest number of potential people would actually be paying attention.   And since the media is in the tank for the Democrat machine, we can’t have the press going out and making a big noise about the Fannie/Freddie shenanigans.  However, by releasing the story on Friday, they reduce the damage control at the same time giving them the excuse to say they actually released the story.  What drivel.

Second, as illustrated above, raising cane about Fannie/Freddies use of bailout funds to pay off corporate executive bonuses would point the winds of outrage back at the Banking Queen him/her self.  Barney Frank has been toting the banner of support for Fannie and Freddie, even lying before Congress about how solvent they were in 2003-2005, causing people to invest money into the market, only to watch it vanish when we find out that Fannie and Freddie were cooking the books and going downhill fast.

We can see here plainly that the Democrats are hard at work, politicizing the economic crisis (remember Rahm’s statement about not letting a good crisis going to waste?)  meanwhile the media is running their screen play to keep the heat off of Barney.

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Written by The Rabid Conservative

April 7, 2009 at 3:00 am

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