Posted on 10/23/2011 8:27:50 AM PDT by 1-Eagle
It should be counted very curious why the real cause of our recent financial collapse has been not only ignored, but the socialist Democrat Program that inflicted the damage was actually just beefed up this week.
This was undoubtedly the political scandal of our nations history. Even though it was openly mocked on SNL, and grassroots efforts on Youtube, one with over 1 million hits, exist, the whole matter has been largely swept under the rug by the Marxist Media.
I am referring, of course, to Fannie Mae.
Fannie Mae, or the Community Reinvestment Act, was initially a small socialist program enacted during the Carter Administration meant to help the poor obtain an affordable mortgage. Recently, it was expanded by the Senate to guarantee mortgages up to $729,750!
In a further misunderstanding of how the Free Market works, Congress now approves foreign purchase of housing.
The best solution, of course, is to shut down Fannie Mae, which has grown from a small socialist program into a huge national leech, and simpy allow the housing and financial institutions to restore themselves naturally.
This is not a plausible action in the view of the pompous US Congress which is apparently convinced it has the intellectual power to stop the Titanic from sinking through bandaid approach stopgap measures, or perhaps they only wish to buy enough time until Americans forget they are the cause of the sinking. Only Barney Frank, Christopher Dodd, Chuck Schumer, Maxine Waters and a few others can explain it best.
Personally, I'm convinced of the latter.
The "Occupy movement" and the current confusion of the American public in general, would not have been possible if RNC had nailed "Fannie Mae" to the backs of all those responsible, but RNC was too busy trying to "outreach" with innovative programs such as "S&M Club Tabs" via Michael Steele. Brilliant!
As the saying goes, Strike while the iron is hot! Instead, the problem and the blame has even been shifted to American bankers & "corporate greed"
So what is the proper solution?
1. Show the American people that Fannie Mae was the principle cause of the financial meltdown, name the villains.
2. Defund Fannie Mae now, and shut it down competely in 2012.
3. Allow the housing market and financial instutions to function normally, and repair themselves naturally over many years. The housing market was artificially inflated by Fannie Mae, so naturally we should not want to restore housing market to the level it was. The Free Market knows what to do.
4. Help Americans learn from this important lesson. The American Free Market economy is the envy of the world when it is left alone, unencumbered by high taxes and excessive regulations, and tinkering around by a Congress that doesn't realize the damage it has already caused by tinkering in the housing & finance sectors through feel good buy everybody a house legislation.
Community Reinvestment Act (1977) http://en.m.wikipedia.org/wiki/Community_Reinvestment_Act
Youtube vids on Fannie Mae:
http://m.youtube.com/results?gl=US&client=mv-rim&hl=en&q=fannie+mae&submit=Search
Timeline shows Bush & Clinton warning about Fannie Mae http://m.youtube.com/watch?gl=US&hl=en&client=mv-rim&v=cMnSp4qEXNM
Bush warns: "Entire Economy is in Danger" http://m.youtube.com/watch?gl=US&hl=en&client=mv-rim&rl=yes&v=TXqxN1XBMH8
The SNL Sketch was pulled & edited by NBC after threat of lawsuit, if I remember correctly, by George Soros. The original version can sometimes still be found on independent websites.
Read and implement “Economics in One Lesson” by Henry Hazlitt.
Bang a bongo and sing to a tree lately?
No. Why do you ask?
Your reply was so short and ambiguous I took it as a flame.
As to the economic dimension of freedom, the Founders' principle of freedom for individual enterprise brought America from the crude tools of ancient Europe to the most free and prosperous destination for oppressed peoples. See the following essay excerpted from "Our Ageless Constitution," a 292-page history of the ideas of liberty in America, again available after 20 years of being out of print.
"Agriculture, manufactures, commerce, and navigation, the four pillars of our prosperity, are the most thriving when left most free to individual enterprise." - Thomas Jefferson
"The enviable condition of the people of the United States is often too much ascribed to the physical advantages of their soil & climate .... But a just estimate of the happiness of our country will never overlook what belongs to the fertile activity of a free people and the benign influence of a responsible government." - James Madison
America's Constitution did not mention freedom of enterprise per se, but it did set up a system of laws to secure individual liberty and freedom of choice in keeping with Creator-endowed natural rights. Out of these, free enterprise flourished naturally. Even though the words "free enterprise' are not in the Constitution, the concept was uppermost in the minds of the Founders, typified by the remarks of Jefferson and Madison as quoted above. Already, in 1787, Americans were enjoying the rewards of individual enterprise and free markets. Their dedication was to securing that freedom for posterity.
The learned men drafting America's Constitution understood history - mankind's struggle against poverty and government oppression. And they had studied the ideas of the great thinkers and philosophers. They were familiar with the near starvation of the early Jamestown settlers under a communal production and distribution system and Governor Bradford's diary account of how all benefited after agreement that each family could do as it wished with the fruits of its own labors. Later, in 1776, Adam Smith's INQUIRY INTO THE NATURE AND CAUSES OF THE WEALTH OF NATIONS and Say's POLITICAL ECONOMY had come at just the right time and were perfectly compatible with the Founders' own passion for individual liberty. Jefferson said these were the best books to be had for forming governments based on principles of freedom. They saw a free market economy as the natural result of their ideal of liberty. They feared concentrations of power and the coercion that planners can use in planning other peoples lives; and they valued freedom of choice and acceptance of responsibility of the consequences of such choice as being the very essence of liberty. They envisioned a large and prosperous republic of free people, unhampered by government interference.
The Founders believed the American people, possessors of deeply rooted character and values, could prosper if left free to:
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Such a free market economy was, to them, the natural result of liberty, carried out in the economic dimension of life. Their philosophy tended to enlarge individual freedom - not to restrict or diminish the individual's right to make choices and to succeed or fail based on those choices. The economic role of their Constitutional government was simply to secure rights and encourage commerce. Through the Constitution, they granted their government some very limited powers to:
Adam Smith called it "the system of natural liberty." James Madison referred to it as "the benign influence of a responsible government." Others have called it the free enterprise system. By whatever name it is called, the economic system envisioned by the Founders and encouraged by the Constitution allowed individual enterprise to flourish and triggered the greatest explosion of economic progress in all of history. Americans became the first people truly to realize the economic dimension of liberty.
Footnote: Our Ageless Constitution, W. David Stedman & La Vaughn G. Lewis, Editors (Asheboro, NC, W. David Stedman Associates, 1987) Part III: ISBN 0-937047-01-5
vote constitutional conservatives into office, that’s how.
And I apologize for my error.
No need, ‘twas my brevity to blame.
This is not entirely true. History repeats itself. The ancient Romans, prior to the time of the Caesars, had adopted the "Constitutional idea" created by a Greek philosopher, who had failed to sell the concept in Greece. Although certainly much simpler than our own US Constitution it provided a core group of laws protecting individual Liberty that could not be changed. A similar concept. What happened then was a time of economic prosperity, and the people became complaicent politically. Sound familiar? Into this political vacuum came Senators promising subsidies to get elected. In a matter of years the wealth had been spent, new taxes had to be raised to pay for all the subsidies and other promises. The economy faltered, unemployment rose, and throngs of rioters filled the streets, burning and looting. The Romans then traded a their Liberty for a little Security (which may well be the inspiration for Ben Franklins famous quote) and brought in the first Caesar to rule them and restore order. The Roman Republic was gone, and this is the road we and Europe are on today
Well its been a long while since I have posted here and I was a bit too ready with the Tin Hat, remembering a nest of flamers in years past who were quick to snap at any conservative post. Hope they ran them off. Sorry I jumped the gun.
Today, we have the opportunity to rediscover and transmit the Founders' essential ideas of liberty to future generations--if we can overcome the so-called "progressives'" efforts to erase them and reinstate the oppression and tyranny of a ruling political elite.
>>...vote constitutional conservatives into office, that’s how...<<
Besides that being far easier said than done (dems get to vote too), there just aren’t enough constitutional conservatives to go around — at least one’s willing to abandon private life for the public meat-grinder.
We should also be encouraging young conservatives to enter the education system (the full faculty spectrum). We need a farm-team system to grow the next generation and (hopefully) start grooming the next generation’s leadership.
Actually, that would merely be a good start. There’s probably two or three generations worth of work to be done. Maybe more...
I posted years ago that confusion over where the blame lies for this mess, if not cleared up, would end up being used against Conservatives. Bidens audacity to bring up the bubble and subprime mortages on the campaign trail in Florida, would have been laughed out of the room if only SOMEBODY had properly made the case about Democrat responsibility. Socialist housing programs brought USA to its knees, yet Democrats prance around and blame it on Republicans? At some point GOP needs to learn the importance of this issue and attack DNC with it with all guns.
Newt Gingrich echos Michele Bachmanns call to throw Barney Frank, & Dodd & others responsible for abuses with Fannie Mae leading to housing market collapse and the resulting financial market meltdown, in jail:
http://www.realclearpolitics.com/video/2011/10/11/newt_gingrich_throw_barney_frank_in_jail.html
CAIN: Fannie Mae caused mortgage crisis
Bloomberg: Blame Congress, Not Banks, for Mortgage Mess
http://www.rushlimbaugh.com/daily/2011/11/02/bloomberg_blame_congress_not_banks_for_mortgage_mess
“Independent Concerns”:Bernanke, Geithner, Dodd & Frank should be Held Accountable
http://independentconcerns.blogspot.com/2011/10/bernankegeithner-dodd-frank-should-be.html
Freddie Mac reports Q3 loss, asks for $6B in aid
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