Posted on 10/27/2010 1:14:04 PM PDT by Mozilla
President Obama loves his car-in-the-ditch analysis of our crashed economy. He repeats it constantly, and has added this: "We're huffing and puffing trying to get the car out of the ditch, and the Republicans are standing around watching sipping on a Slurpee."
That Slurpee bit is supposed to connect him to Middle America. Well, maybe.
But the real problem isn't the Slurpee gag: The problem is the road to the ditch.
The financial collapse which led to our present enervating recession was the housing collapse and bank failures. Toxic mortgages, foreclosure crisis, Mr. Fix-It bailouts -- the entire sorry tale is Democrat from way down the road to the crash site.
It starts with Jimmy Carter and his Community Reinvestment Act, by which the heavy hand of government "encouraged" banks to loan to marginal borrowers.
That push was ramped up under Bill Clinton. Clinton's HUD Secretary, Andrew Cuomo (yes, the same one) created regulations which forced the government-sponsored mortgage entities Fannie Mae and Freddie Mac to step up loans to minorities under the logic of the affordable housing movement: every American should be a homeowner. It turns out affordable housing didn't mean inexpensive homes poor people could afford, but instead, easy credit to buy homes they could not afford.
Clinton’s Treasury Secretary was Democrat Robert Rubin, aided by Democrat Lawrence Summers, now on the Obama economic team. Rubin and Summers honcho’d the effort to repeal the Depression era Glass Steigal Ac, allowing investment banks to use federally insured depositor cash to back millions of mortgages, while easing underwriting standards at the same time. No money down? No problem.
In addition, Rubin pushed through the Commodity Futures Modernization Act, which allowed the creation of mortgage-backed securities. Liar loans packaged as investments and sold to pension funds.
(Excerpt) Read more at radio.foxnews.com ...
Ah, I was wondering why i was seeing so much talk of
drinking slurpees, now I get it.
And while the car is in the ditch ACORN, SEIU and the UAW have stolen the tires.
DANG those little red x’s. I right clicked, and hit show picture, but it came back a red x again.
C210N. Isn’t that a Cessna?
Obama spent about six months talking about Bush making an awful mess, and it was his job to mop it up.
Now his teleprompters have changed the metaphor, and Republicans have driven the car into the ditch and it’s his job to pull it out.
Oh, sure. This from a man who never did an honest day’s work in his life.
Apparently, The Dark Lord enjoys putting round white things in his mouth. Just ask Larry Sinclair...
No doubt!....
“We’re huffing and puffing trying to get the car out of the ditch, and the Republicans are standing around watching sipping on a Slurpee.”
And wondering why you guys are such awful drivers.
Don’t know why you get an ‘x’... your firewall? Still works for me.
Yes, a 210 is a single 6-seat... lots of fun!
The Democrats are drunk on spending.
Sounds like we need to elect a mature and responsible designated driver next time who won’t be driving us into ditches.
The truth that liberals won’t believe bookmark.
If the Dems weren’t turning the bus to the left all the time the bus would have stayed on the road.
Uh, according to Sinclair Obama was not the one putting things into his mouth, Sinclair was.
Meh. Details...I despise the Dark Lord too much to really care who was pitching & who was catching.
Yeah, I remember when the first 210’s were introduced in IIRC it was 1961-’62. It was something to marvel at as the landing gear in those first ones collapsed, and then reassembled into the fuselage, and vice versa when extending them for landing. At first we all thought we had something really exciting going on, but that was how they were designed to work. IIRC the planes got a very good review shortly after they were introduced.
I was a lineboy for Scott Aero Service on the Long Beach Airport at the time.
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