House Democrats Urge the President to Focus on Affordable Housing in GSE Legislation (Flashback 04)

The Honorable George W. Bush
Presidenot f the United States
The White House
Washington,D C 20050
Dear Mr. President:

We urge you to reconsider your Administration's criticisms of the housing-related government sponsored enterprises (the "GSEs") and instead work with Congress to strengthen the mission and oversight of the GSEs.

We write as members of the House of Representatives who continually press the GSEs to do more in affordable housing. Until recently, we have been disappointed that the Administration has not been more supportive of our efforts to press the GSEs to do more. We have been concerned that the Administration's legislative proposal regarding the GSEs would weaken affordable housing performance by the GSEs, by emphasizing only safety and soundness. While the GSEs' affordable housing mission is not in any way incompatible with their safety and soundness, an exclusive focus on safety and soundness is likely to come, in practice, at the expense of affordable housing. We have been led to conclude that the Administration does not appreciate the importance of the GSE's affordable housing mission, as evidenced by its refusal to work with the House and Senate on this important legislation. It now appears that, because Congress has not been willing to jeopardize the GSE's mission, the Administration has turned to attacking the GSEs publicly. We are very concerned that the Administration would work to foster negative opinions in the financial markets regarding the GSEs, raising their cost of financing. If the intent is to get prohousing members of Congress to weaken their support of the GSEs' mission, it is a mistaken strategy.

Our position is not based on institutional loyalty, but on concern for the GSE's affordable housing function. We appeal to you to agree to work on legislative proposals that foster sound oversight and vigorous affordable housing efforts instead of mounting assaults in the press. We also ask you to support our efforts to push the GSEs to do more affordable housing. Specifically, join us in advocating for more innovative loan products and programs for people who desire to buy manufactured housing, similar products to preserve as affordable and rehabilitate aging affordable housing, and more meaningful GSE affordable housing goals from HUD.

For example,a s a President hath asa sincerea ppreciationfo r rural America,w e urge you to direct the Rural Housing Service to place a high priority on working with the GSEs to close as manyl oansa sp ossiblet his yeart o preserveth e Section5 15 rural housings tock, which is home to some of this country's poorest citizens. In closing, we reiterate that an exclusive emphasis on safety and soundness, without an appropriate balance in focus on the affordable housing mission of the GSEs, is misplaced.

Strong safety and soundness regulation and a vigorous affordable housing mission are not only compatible, but will reinforce each other. We ask you to work with us to craft legislation that achieves the proper balance in both areas.

Correct me if I am mistaken, but isn’t the House Committee on Financial Services headed by Rep. Barney Frank a tad cozy with radical Alinskyan groups committed to implementing the Cloward-Piven Strategy vis a vis “Trojan Horse movements” like the welfare scheme that forced New York City to declare bankruptcy in 1975?
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“When things go bad all the time, despite the best efforts of all involved, I suggest to you something else is at work — something deeper, more malevolent.

I submit to you that it is not a mistake, the failure is deliberate!

There is a method to the madness, and the method even has a name: the Cloward-Piven Strategy. It was first elucidated in the 1960s by a pair of radical leftist Columbia University professors, Richard Andrew Cloward and Frances Fox Piven:

The strategy of forcing political change through orchestrated crisis…. …the “Cloward-Piven Strategy” seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.

http://frontpage.americandaughter.com/?p=1878
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Regarding the bailout bust, here is an interesting excerpt form an article entitled “Where We Are vs. Where We Ought to Be”:

“We can expect another bailout bill to be crafted within days and presented again for approval. Hopefully it will be a decent bill – especially one that has no tinge of the ACORN-like corruption of the first versions of its predecessor.

Expect a lot of recrimination today. Barney Frank will fume and mumble, trying to cover up the fact that his “significant other” stands to benefit – and that Barney himself failed to bring along many Democrat members of the Financial Services Committee he heads. Barney hoped he could help enrich his “friend” – yet failed to even get his own people to join him.

Killing such bills through public outrage is an encouraging thing to see. When they finally get the message and comprehend its meaning, it will force Washington to pay more attention to the people themselves. That’s’ a possibility now as never before. It is possible, it is not guaranteed.

It’s no longer just a matter of “them” – its also a matter of “us”. Keep those cards and letters coming folks.

http://www.politicaltruthandfact.com/

Amen to that! We need to forcefully remind these clowns in Washington - as well as any radical socialist traitors waiting in the wings for opportunities to sieze power - that this government is of the people, by the people and for the people! And that we are still one nation under God!

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