Posted on 09/06/2009 5:24:06 PM PDT by NCjim
Exactly what did Barack Obama "inherit?"
Our president is fond of laying blame at the feet of his predecessor. Do the facts, however, support the rhetoric? They might but for the inconvenient truth that his party has enjoyed majorities in both chambers of Congress since the 2006 elections. Can any individual or party feign "inheritance" when they have controlled the legislative agenda for over two years? I think not.
While much has rightly been made of the contributions to the current recession from "The Fed," the SEC, risk assessors, banks, insurers, and private mortgage lenders, little scrutiny has been applied to the epicenter of the economy's collapse, the conjoined Fannie Mae and Freddie Mac.
After Congress properly vilified the AIG bailout, the bailout of Fannie/Freddie ($85.9B to date with the potential to reach $400B*) and $210 million in retention bonuses drew barely a murmur. Not even the suicide of Freddie Mac's interim CFO was sufficient to prompt a serious congressional investigation of these GSEs (government-sponsored enterprises). Why?
In 2003, the Bush Administration proposed the most significant regulatory overhaul of the housing finance industry since the savings and loan crisis. Oversight of Fannie and Freddie, beset with accounting irregularities and $1.5 trillion in outstanding debt, was to transfer from Congress to the Treasury Department.
The plan was derailed by Democrats who, in the person of Barney Frank, declared, "These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems... the less we will see in terms of affordable housing."
Translation: If you oppose high risk lending, we will play the class/race card and make ACORN an everyday part of your life. Similarly, oversight proposed by John McCain in 2006 was upended by amongst others, Barack Obama, a beneficiary of over $100,000 in campaign contributions from Fannie and Freddie.
What President Obama "inherited" was victory in Iraq by troops he had undermined and a recession bearing his own fingerprints. But for the work of Fed Chairman Bernanke and Treasury Secretary Paulson last fall, our president could have "inherited" a depression.
Question: something just dawned on me. After 9/11, did W ever blame anybody else for dealing with the worst attack on American soil? (other than the terrorists of course)
Who “they” are, and what “their” faults are, changes from scenario to scenario, but one thing is constant—the “haves” are to blame for the state of the “have-not’s.”
The arrogance is breathtaking.
Unless the "haves" are liberal. Ever notice that very few liberal "haves" worked for their wealth?
Bears repeating. The rats won't be able to stand up to the light of day, in their own words.
Since when has a Liberal ever taken responsibility for themselves? Van Jones blames a “smear campaign”, not his own bad judgement”.
No..he put the blame where it properly belonged, onto Al Queda.
Nine months into it, the economy and everything related is Obama’s baby. No blaming but oneself for the way things are in september, 2009. He has had plenty of time to gather up the smartest eggs in the country, and what did he do? Gathered up rotten eggs!
Zer0 inherited slave owners’ blood, but no slave blood. Zer0 Is an American-African.
Still waiting for the hearings on Fannie Mae and Freddie Mac. You know, the ones that were promised to take place AFTER last November’s election.
Unemployment rate:
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000
December 2008; 7.2
August 2009; 9.7
^
Odumba squanders all he had to work with, next we’ll be told it’s a ‘Businessless Economy’
That’s what pansy liberals like Obama do: Blame others and avoid responsibility when things go south.
Obama is a huge loser and his followers are even bigger fools.
Sen. Jon Corzine, D-N.J.
“The verdict is in: The Republicans’ multi-trillion dollar failed economic policy is one the greatest disasters for working Americans in a decade.”
August 2009; 9.7
Gotta side with 0 on this.
W's policies drove our budget and economy into bedrock years before Barry took office.
FLAME AWAY.
When we examine the word “inherit” - if we dig deep enough, we get to the Latin root “heriditas” — hereditary succession, or property gained from ancestors.
Since Obama doesn’t look at all like Bush, I’m guessing that Barry isn’t of Bush lineage. He inherited nothing. Bush didn’t say “I leave all of this to you son...”
No, Obama ran for the job. Obama placed himself in this situation. He *asked* for it. Obama *chose* this job for himself - at great effort and expense.
Whinging about it now bespeaks of a man who wanted a far easier job than what he actually found when he walked in the door. There are only two explanations for his ceaseless bellyaching: a) he wasn’t all that bright in 2008, as the economy was going down the drain, and/or b) he’s not the equal of the task now.
Should he continues his whinging in this manner, the citizens of the US should ask for him to step down, because he’s clearly admitting that he’s not up to the task.
The POTUS gets the hand he’s dealt. Lincoln could have complained that he “inherited” the Civil War and southern secession from the fabulously light-in-the-loafers Buchanan, but he didn’t. He just manned up and dealt with the situation as it was. Truman could have whined that FDR didn’t tell him jack-all about the atomic bomb and the consequences of same, but no, Harry man’ed up and owned the decision for the use of same.
Obama is clearly someone who has gotten his own way very easily in life. Now that he’s actually responsible for results by his own hand, he’s finding out that complaining about someone else’s performance doesn’t get one very far.
No flaming, just a question. Could this, which was also inherited, have had something to do with it?
from WND:
In 1994, lawyer Obama, a graduate of Harvard Law School then fresh from his Project Vote! experience, represented ACORN in the Buycks-Roberson v. Citibank Federal Savings Bank case, in which ACORN pressed for Citibank to make more loans to marginally qualified African-American applicants “in a race neutral way.”
After obtaining a settlement in the Citibank litigation, ACORN used its subsidiary organization ACORN Housing, a nationwide organization with offices in more than 30 U.S. cities, to push the group’s radical agenda to get subprime home buyers mortgages under the most favorable terms possible.
It can’t be his fault - just ask any black person.
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