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Fannie and Freddie

AUGUST 12, 2008
sketches
Last week I got another chance at Newsweek. The article was about the Fannie Mae and Freddie Mac subprime mortgage mess. The article really got my blood boiling. Are we living in "Stupid Land"? If I ran my business like Fannie and Freddie I would not only be fired but probably be in jail. The article was mainly about Roy Barnes, governor of Georgia in 98, who had some foresight and realized what these snakes were doing and pushed through the toughest anti-predatory lending law in the country. It made the lenders legally liable for unfair loans. Of course, Barnes was besieged by lobbyists from the major banks and regulators - including Fannie and Freddie. In 2003, the Georgia legislature gutted the law because they were warned that Freddie Mac was about to cut off most of its business with the state. Presently, Georgia has one of the highest rates of foreclosure in the country. Ugh!
Final pencil drawing
The AD Dan was great to work with. The initial concept was two twisters destroying a town. I just took his initial concept and ran with it. The one good thing about the economy and the world's downward spiral is that my images can have a darker more interesting tone.
Final oil painting 14"x18"
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