Posted on 09/16/2008 3:47:00 PM PDT by joanie-f
Perhaps more than any presidential candidate in recent history, Barack Obama’s pious rhetoric has focused on his concern for ‘the little people’ and his disdain for the big money represented by corporate America.
I’d like to take a brief look at the words/deeds comparison of this man, and then pose a few crucial questions regarding not only Senator Obama’s honesty, but also his personal and professional affiliation with an organization that bears much of the responsibility for the sub-prime mortgage crisis and subsequent financial meltdown, and his fitness to hold office of any kind.
In July of this year it was announced that Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation), America’s largest mortgage companies, are now the property of the United States government.
Along with that ownership comes some $5 trillion (with a tr) in mortgage debt. The nationalization of the two biggest mortgage companies in America occurred because it ‘was required to help millions of struggling mortgage holders and shore up the U.S. housing market.’
As a result, every American taxpayer will be forced to pay through the nose for the rest of his lifetime in order to bail out wealthy, well-connected people who committed fraud. In effect, every American taxpayer has been forced to purchase stock in two insolvent companies.
Ben Bernanke was not elected by the American people, and he is not accountable to them. Henry Paulsen was not elected by the American people, and he is not accountable to them. And the people in the corporate offices of FM and FM were not elected by the American people, and they were not accountable to them. And they were committing fraud.
In addition to the gargantuan personal debt that you and I have been forced to assume, the U.S. dollar will suffer as a result of this bailout. Inflation will increase. And the recession will worsen.
This is just the beginning of the ‘let's-make-the-U.S.-taxpayer-pay-the-price-for-the-financier/government-blunders’ roller coaster. The bailouts are going to start coming fast and furious. The big question is: How long will it take before the powers that be recognize that the boat is sinking faster as a result, and the people who are doing the bailing are going to (1) weaken to the point where they can no longer lift their bucket, or (2) mutiny. I'm betting on (1) because the American public is too clueless to contemplate (2).
The democrat party, and Barack Obama in particular, are forever crucifying big business and the financial world, while purporting to champion ‘the little people’. The democrat party, and Barack Obama in particular, are forever accusing John McCain of being in the pocket of both.
When the federal government announced two months ago that it was taking over Freddie Mac and Fannie Mae, The Center for Responsive Politics decided to take a close look at the amount of political contributions the two largest mortgage companies in America have made to our Washington leadership.
If you have been in the practice of swallowing leftist media swill, you should be very surprised at the results of their study: Fannie Mae and Freddie Mac Invest in Lawmakers.
In the list of 354 lawmakers who have received contributions from the two mortgage giants since 1989, Barack Obama has collected the second highest dollar figure – behind only fellow leftist Christopher Dodd (D-CT). Recall, also, that Senator Obama has been in Washington for only three-plus years. So, despite the fact that this list includes the total of all of Fannie Mae's and Freddie Mac’s contributions to these 354 lawmakers since 1989 (for the last nineteen years), Barack Obama has managed to eclipse all but one of his fellow senators/congressmen, some of whom have been on the Hill six times as long as he.
And democrats in total collected the large majority (57%) of those monies.
The mainstream media, and most of our leadership in Washington, would have us believe that this mortgage crisis (eventually scheduled to blossom into a full-fledge economic earthquake) occurred as the result of a combination of greed on the part of the banking/mortgage industry and ignorance on the part of prospective low-income homeowners.
That, however, is not the case. The mortgage crisis is the result of a purposeful, newly required relaxing of underwriting standards, largely foisted by our government on the banking/mortgage industry in the name of ‘ending discrimination’, and in spite of warnings from respected economists that such underwriting relaxations could lead to unprecedented defaults.
It was the regulators, not the banks, who relaxed these standards - at the behest of 'community organizers' and 'progressive' political activists.
Byron York wrote in a recent National Review article:
See also: The Acorn Obama Knows and Getting Paid to Watch: The Link Between Obama, the Woods Fund, Earmarks and the Mortgage Crisis.
Acorn approached sympathetic members of congress who managed to amend the Home Mortgage Disclosure Act, forcing banks to collect racial data on their mortgage applicants. The predictable result was that it was ‘discovered’ that banks were indeed discriminating against minorities (the fact that those minorities were generally less financially capable of assuming a mortgage received minimal consideration in every study).
What resulted was an increase in the power of the Community Reinvestment Act, and banks were now required to relax the criteria for low income mortgage applicants. Another new, more insidious, stipulation in the revamped Community Reinvestment Act allowed for 'community organizers' to take an active part in annual bank reviews. Intimidation was the name of the game.
Banks that received poor reviews were fined. Some were denied merger requests. Others faced Justice Department action if their ‘quotas’ of minority acceptances were not met.
As if ACORN’s complicity in the entire financial meltdown weren’t enough, the organization for which Barack Obama worked both before and after attending law school, and with which he still maintains close ties, is currently being accused of committing massive voter fraud, presumably in order to get their man elected. ‘Their man’ … the one who looks out for ‘the little guy’ and who repudiates big money and the power of special interests.
I will leave you all with a few simple questions:
(1) Why is it that Barack Obama rarely, if ever, lists his ‘accomplishments’ as a ‘community organizer’?
(2) Why did Barack Obama receive more total political money from Fannie Mae and Freddie Mac than all but one of his fellow senators/congressmen? And how did he accomplish that amazing feat in just three short years, when many of his fellow 'leaders' have been on the job for six times as long?
(3) How difficult should it be for the American citizenry to accept Barack Obama’s pious repudiation of capitalism and the ‘greed’ of big business?
(4) If John McCain or Sarah Palin had such skeletons in their closets, would those skeletons find themselves revealed in glaring headlines from now until election day? And would congress be clamoring for hearings ... or worse?
(4) Where are the mainstream media?
Nuff said.
~ joanie
Amen.
Please return the message and tell him he is sorely missed (and his opinions are needed more than ever)!
~ joanie
~ joanie
A Thursday BUMP!
There are thousands of lurkers and new members here everyday. Information of this nature really needs to stay front and center until after the election.
I know that here everything is quickly considered old news. Still it is important to be constant about keeping the facts here for all to digest and pass on to their friends.
Thank you for the ping Jeff.
Pray everyday and believe God for a miracle.
And where were George W. Bush and the GOPe aka GOP elite aka Republican Party Hair Club for Men?
It’s 2014, six years later, and the Republican Party has yet to stand up against the leftist extortionists and tyrants -AND- against the banksters who profited because of the TARP.
It’s 2014, six years later, and homosexual marriage is now the norm; and homosexual activity is taught in public schools as the norm.
It’s 2014, six years later, and the Republican Party has abandoned social conservativism and conservatives -— to the extent that, the GOPe bash conservatives in public.
The Republican Party and the Rich Liberal Democrats “Party” are one and the same, except for such dry, minute differences over deal-making, that particularly the Republican candidates (Romney is still in the news, and now Jeb Bush wants to be President) ... market as big issue differences with Democrats.
The differences between the Democrat Party elite and the Republican Party elite, are almost entirely regarding business deals; to the point that, the only reason there is a Republican Party candidate for whom a conservative might vote, has much more to do with the ability of grass roots efforts to get a conservative on a ticket -— there being ALMOST NO SUPPORT AT ALL from the Republican Party national committee and so many GOP elitists.
Obama is a disaster. The leftists, liberals, and now Palace Media (yes - they used to be the liberal media, but now they echo so often the praises of their lord and master known as The One - Obama) ... are more than ever dedicated to morally bankrupting and battering away at standards of decency, such that rot in government is now widely systemic, and you could say the same for the elite executive “suits” whose neo-capitalism is so phony it is now called crony-capitalism.
Imagine, it’s 2014, six years later, and well-paid suits are *AGAINST* free enterprise -— rather, they would have a multitude of special arrangements with government, to affect deals ala fascism.
Interest rates are near zero, because all that decay has caused such a lack of resistance to government regulations, that free enterprise struggles to breathe -— at every turn, an entrepreneur is at least admonished, if not punished, for failure to meet national socialization quotas in the workplace (in professional sports, this is ignored except when it comes to homosexual behavior which is widely championed on the airwaves).
Yes, moms and dads, in six years from when Obama gets elected President of the United States, your kids are confronted by a nation of fascism and sadism ... and “the Republican leadership” are silent about that.
While conservatives and Christians are routinely bashed and held in contempt by entertainment media including regular TV programming scripts.
That is so common, that literally millions of people now turn to Christian TV channels, in order to get some kind of a break from the national socialist effort to impose cultural anarchy and throw God and country into Stalin’s wake.
By the way, health care is being nationalized, and 2014 was the last year that the average person could see the doctor of their choice. Several family doctors have quit, and more are expected to quit. The average monthly insurance premium for an individual is around $750 ... and the “best and brightest” of well-paid “suits” in executive-dom and in government, wonder why there are fewer people in the stands at sports events, and fewer people who can afford to pay car and house payments.
As many people are using up their savings, after which there will be wide-spread destitution, because the largest industry is quickly becoming real estate, funded by central bankers’ (”banksters”) theories.
Since 2008, central bankers have printed money in the trillions. This mostly ends up in the hands of the banksters and politically-correct-and-connected real estate titans and tycoons (some, being REIT’s).
In other words, the economy is forced, not naturally occurring.
In a nutshell, the TARP led to an enormous dependence upon more and more free money from central banks, which was used to pump up prices, while value remained well below. The banksters and government are pararlyzed with fear of economic collapse -— the sudden decline of prices to match value.
*THAT* has led to economic situations that, instead of seeing values increase, THE OPPOSITE IS OCCURRING, and the value of assets are in dramatic decline:
-gold
-silver
-oil
-other resources
Yes, that’s right. The government and so many elitists’ notions of maintaining price levels and claiming (absurdly) that “there’s little to no inflation” ... has caused the Kitchen Price Index (what individuals and families pay for goods and services) to rise ... and the price of assets to fall.
Because the answers to problems from the left, and from the GOPe, are that government should BOTH:
regulate more
spend more
Huh? You say.
Yes. It’s the bright idea of the Republican Party, that there SHOULD BE what is now called ObamaCare - the national health insurance fiasco that is killing the incredible success of the American medical effort and turning it into what you could call, grime.
And no, it’s not a great idea to move to Canada, because in Canada, there is no longer a semblance of freedom of speech ... same for the United Kingdom, where you can be arrested for standing on a street corner, reading excerpts from the works of Winston Churchill.
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