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The Road to Hell, and Financial Meltdown, Is Paved With Liberal Good Intentions
North Star Writers Group ^ | September 29, 2008 | Gregory D. Lee

Posted on 09/29/2008 6:50:09 AM PDT by Dukes Travels

In a recent appearance on the Today Show, former President Bill Clinton so much as admitted that during his administration he and his fellow Democrats pressured lending institutions to make sub-prime loans to the poor and minorities in an effort to increase the percentage of American home ownership.

Matt Lauer referred to a September 1999 New York Times article that pointed out the Clinton Administration “pressured Fannie Mae to increase the number of lower and middle income families and individuals who could get a mortgage and thus own a home.” To accomplish that, Lauer read from the article, “Fannie Mae lowered its standards for credit, (creating) the sub-prime mortgages.” Lauer pointed out that the article said that although it was “well intentioned, it was also dangerous.”

President Clinton told Matt Lauer that “. . . it looks like that was true,” but that he had to take in consideration what was happening at the time this was done. He cited a balanced budget, a budget surplus, a rapidly growing economy and too much money going back to Fannie Mae shareholders and executives as reasons to justify this affirmative action policy.

(Excerpt) Read more at northstarwriters.com ...


TOPICS: Politics
KEYWORDS: bailout

1 posted on 09/29/2008 6:50:11 AM PDT by Dukes Travels
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To: Dukes Travels
Just the facts mam, just the facts

Linky Thing: Burning Down the House
Linky Thing: Timeline - Fox News
Linky Thing: Excerpts from Congressional Hearings

Linky Thing: American Thinker Article

2 posted on 09/29/2008 6:54:16 AM PDT by tx_eggman ("The urge to save humanity is almost always a false front for the urge to rule" - Mencken)
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To: Dukes Travels

QUESTION: Will the bailout result in a tax increase to pay for it?


3 posted on 09/29/2008 6:56:12 AM PDT by Rapscallion (I want to hear the sound of tumbrels....)
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To: Dukes Travels

A bank pal told me that Janet Reno promised a “reign of terror,” if a certain percentage of their loans were not written to unqualified borrowers.


4 posted on 09/29/2008 6:56:53 AM PDT by Eric in the Ozarks
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To: Dukes Travels

PC Correctness will prevent this frombeing perceived by the American public

Obama is already running ads blaming the lack of regulation on the GOP

Don’t look for any McCain ads ( too partisan )

Maybe 527 ads —I sure hope so


5 posted on 09/29/2008 7:02:58 AM PDT by uncbob
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To: Dukes Travels
There is no better example of the government being the problem than this current crisis.

Yes, the Federal Government, specifically the Democrats are responsible for this mess, and not "Wall Street greed " as tooo many (even) Freepers think.

The taxpayers, the ones who elected these Democrats and probably the ones who will continue to elect these Democrats, and not the private financial institutions SHOULD pay for this mess.

It's the Federal Government's telling private financial institutions who to lend money to, that is the socialism here.

6 posted on 09/29/2008 7:25:28 AM PDT by FreeReign
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To: Dukes Travels

The communists have been very clever. To paraphrase that old internet game, “We’ve been set up for the bomb. but good.” The Commies have told us that they’d bury us, and they’d do it from inside. And they have.

First, Carter gave homes to people who couldn’t pay for them. Then Clinton and Janet Reno threatened the banks with very stiff fines if they didn’t hand out such homes to those who couldn’t pay for them.

Now Clinton lies about stock holders for Fannie Mae making too much money which furthers the hatred for those who work and make money. And he throws in the top officials of Fanny making indecent bonuses, never mind that the dem party set it up that way.

Then they pass a law saying that any crime against blacks is a HATE CRIME.

In the meantime, they’ve taken over most of the media who back them up.

Then along comes their black presidential candidate who has threatened anyone with prosecution who “lies” about him. This last step is not to keep the election honest. It is to scare anyone who dares show him for what he is.

Yes, the Communists have been working on this for a long time, and they have plently of practice, going back to Stalin.

And, let’s not forget the invasion on FR in the last election who said that they would vote for a dem for congress because Bush was “too liberal.” Yep, they showed us, didn’t they when they elected a liberal congress?


7 posted on 09/29/2008 7:31:46 AM PDT by kitkat (EX DEO LIBERTAS (From God, liberty))
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To: Dukes Travels
President Clinton told Matt Lauer that “. . . it looks like that was true,” but that he had to take in consideration what was happening at the time this was done. He cited a balanced budget, a budget surplus, a rapidly growing economy and too much money going back to Fannie Mae shareholders and executives as reasons to justify this affirmative action policy.

As Clinton explains why he pressed for unqualified loans he shows his ignorance. Under the circumstances he describes the last needed was free loans to the unqualified. If the economy was strong and too much money going back to shareholders why add more money to the pot?

Just more Clinton lies to cover his butt.

8 posted on 09/29/2008 7:37:17 AM PDT by Mind-numbed Robot (Not all that needs to be done needs to be done by the government)
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To: kitkat

Excellent post.


9 posted on 09/29/2008 7:38:40 AM PDT by FreeReign
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