Bachmann Benefitted from Federal Home Loan Program

[DeepModem Mom]

Source: Washington Post

Like many members of Congress, Rep. Michele Bachmann has been a fierce critic of Fannie Mae and Freddie Mac, blaming the government-backed loan programs for excesses that helped create the financial meltdown in 2008.

And like millions of other home purchasers, Bachmann took out a home loan in 2008 that offered lower costs to the borrower through one of the federally subsidized programs, according to mortgage experts who reviewed her loan documents.

Just a few weeks before Bachmann called for dismantling the programs during a House Financial Services Committee hearing, she and her husband signed for a $417,000 home loan to help finance their move to a 5,200-square-foot golf-course home, public records show. Experts who examined the loan documents for The Washington Post say that they are confident the loan was backed by Fannie Mae or Freddie Mac.

Seeing problems with the programs — especially the high costs to taxpayers — hasn’t stopped a concerned public or other members of Congress from taking advantage of the lower interest rates that come due to government backing.

Bachmann has been the most outspoken critic of the loan programs and other government subsidies among Republican presidential candidates....

Read more: http://www.washingtonpost.com/politics/bachmann-benefitted-from-federal-home-loan-program/2011/07/19/gIQAI12raI_story.html?hpid=z11

[midnight]

1. Double standards strike again....

[patrice]

2. Killing government involves not only starving it to death, but sucking what financial blood it does

have dry.

[patrice]

3. Remember "Two Santas"?

http://www.commondreams.org/view/2009/01/26-0

[Angry Dragon]

4. Bachmann and her two faces

Went to public schools - taxpayer supported
Went to state college - taxpayer supported
Foster cared 23 young women - County government money
IRS lawyer - Federal government money
State Senator - State government money
House Representative - Federal government money
Farm subsidies - Federal government money
Medicare/Medicaid money - Federal government money

It is sure good that Michele could find so many teats to suck from

[juajen]

5. I would be interested in knowing just how old those children were

when she took them in, and how much she received for each of their care.

[Angry Dragon]

6. No older than high school

I believe most had eating disorders
and her house was classified as a treatment home

They say $30/day
Had her license for 7 1/2 years
No more than 3 girls at a time

[MedicalAdmin]

17. It's about $1100 a month if you add it all up-

Plus the state covers all medical, clothing, etc.

$3300 a month for 7 years or $277,200 with no outstanding expense except for food to feed anorexics...

[juajen]

7. to me: I searched and found info.

They were teenagers, mostly were not "raised" by her so much as her allowing them to stay in her home until they were reclaimed by relatives or parents, for which she received $30 a day from the State. This could amount to a large amount of money, for very little work. I am assuming she probably had a maid in place.

[freshwest]

8. Typical Tea Bagger!

[Cool Logic]

9. I don't think Fannie Mae and Freddie Mac's problems were caused by

loans to members of Congress.

[No Elephants]

10. Dunno, but I think the taxpayers' problem with Fannie and Freddie were caused by privatizing profits

and socializing losses.

[Cool Logic]

16. Socializing loans entails socializing losses.

[No Elephants]

11. Bless her wallet, she seems never to have seen a government program she could pass up.

So, she votes against them, then signs up for them if they pass in spite of her?

She's against them before she cashes in on them?

Well, that's not hypocrisy, is it?

[SpiralHawk]

12. RepubliBagger Welfare Queen (R)

Deep is the doo doo when it comes to republicon hypocrisy....

[lunatica]

13. She's a true warrior from within .

She's so totally against government that she's trying to be President. Par for the course.

[Blue Owl]

14. Jesus loves the pretty Bachmann

Everyone else can go to hell.

[Kingofalldems]

15. Kick and Rec one time for the teabaggers

[tabasco]

18. That goddamned communist socialist nazi! n/t

[loyalsister]

19. She was also a tax collector

for the IRS

:dilemma: That will require quite a bit of splaining