Should The Wolves Be Guarding The Flock

Our largely Liberal Congress is about to embark upon the path of legislating additional regulation of our major financial institutions, designed to ensure that we never again face the level of crisis that we’ve been crippled by for the last two years. Why would we let them, when it is actually they who destroyed our economy in the first place? Think I’m joking? Read on.

Perhaps as proof of how we can all trust this Democrat-proposed new direction, Vice President Joe Biden has just today announced to the TV cameras (with the expected commensurate fanfare and media toe-licking) that General Motors has “paid back the entire amount” loaned to them by the federal government. To quote quotable Joe, this is “…an amazing accomplishment!” Such a grandiose pronouncement might lead us to think that America’s financial conditions surely must be improving.

The problem is, every so often, quotable Joe is just a bit off the mark with his rampant rhetoric. Like this time. While it’s true that GM has just paid back the initial bailout loan they weaseled out of us, Joe forgot to mention that GM paid that money back using not corporate proceeds or profit, but with cash they received in a second bailout loan from us. Hardly seems like a cause for a news conference, unless, of course, deceiving the voters is your stock and trade.

This raises an interesting question. Is this latest Bidenism just another simple mistake (like when Tom Daschle, Chris Dodd, Charlie Rangel, and all those other Democrats ‘forget’ to pay their taxes)? Or is this part of the largest, most craven pattern of all-out, no-holds-barred, couldn’t-tell-the-truth-if-their-lives-depended-on-it, shock-and-awe wall-to-wall carpet-bombing of lies this country has ever been assailed by?

For this study in misinformation and dissembling masquerading as mere cynical partisan propaganda, we’ll study the true events that led up to, and caused, the great financial meltdown of 2008… an event which, interestingly enough, directly contributed to Barack Hussein Obabma’s election as America’s first Arab president in November of that same year.

If memory serves, you will recall that we all heard repeated, many times, the mantra of “eight years of George W. Bush’s failed policies” being at the bottom of virtually all our national woes. Barack Hussein Obama was absolutely eloquent as he laid the responsibility for our financial crises at the feet of that ignorant chimp, George W. Bush.

I remember well the speech Obama gave where, making that slightly peeved face, and dropping back into the ‘Negro dialect’ which Harry Reid insists he is capable of when he wants to be, bopping and shucking and jiving for the cameras with his pseudo-gangsta brogue, Barry said, “Ya know, Ah don' mind cleanin’ up the mess… Ah just don’ wanna hafta listen to a buncha guff from the folks’at caused it. Ah want them to siddown and shuddup while we get ta work cleanin’ up their mess.”

How noble. How very selfless and dignified of him. How can anyone not love that man… that prince among men?

Let’s leave aside opinions and partisanship for the moment, and instead go directly to the video record of the turbulent times that preceded America’s biggest financial implosion since The Great Depression. It is by now well documented (if not well known… the Obama-finger-puppet Media won’t air these truths) that during his years as a “community organizer” with extensive ACORN connections, Obama’s Chicago ACORN thugs bullied banks into making sub-prime mortgage loans to people with low income. Remember Barry telling Joe the Plumber how it’s necessary to “spread the wealth around” so that everyone has the same opportunities? Why, anything else would be… racist, wouldn’t it?

This article will demonstrate beyond any doubt that it was Barack Hussein Obama, the Congressional Black Caucus, and the Democrat-ACORN-led changes to our financial institutions that created this disaster (which they now, ironically enough, blame on George W. Bush). If it was additional government involvement which caused our financial meltdown, why would we want them to stick their dishonest, lying, rapidly growing Pinnochio noses even further into these markets which did just fine before their interference, and then exploded like an A-bomb once ACORN and the Liberals had their “Social Justice” way?

Republicans called for additional oversight of Fannie Mae and Freddie Mac to avoid a coming financial meltdown, as Democrats and, more specifically, the Congressional Black Caucus, ridiculed the GOP for “pretending” that a crisis was coming. Maxine Waters, Gregory Meeks, Arthur Davis, Lacy Clay, Barney Frank all use the typical Liberal ploy of painting those calling for extra oversight as being racist, attempting to “lynch” Franklin Raines, then-head of Fannie Mae (before his exit in disgrace).

News reports at the time show that in 2001, the new Bush Administration, after looking over the financial information they inherited from eight years of Clinton financial policies, advised Congress that additional Federal regulations and oversight should be imposed on Fannie Mae and Freddie Mac, the “GSE’s.” By 2003, George W. Bush’s Administration again called upon Congress for immediate action regarding the size of Fannie and Freddie, as well as investigations into their dangerous financial habits, and warning that if the GSE’s stumbled or failed, it could impact our entire financial structure as well as the global financial markets.

Also in 2003, Republican Treasury Secretary Snowe’s suggested oversight increases of Fannie and Freddie were blocked by pressure from the Democrats, and especially from then-Ranking Member, and current Chairman of the House Financial Service Committee, Democrat Barney Frank.

Thank goodness for YouTube, for if we had to rely upon the current, conveniently revised Democrat version of these causal events, one could easily be mislead into believing that it was “Bush’s fault” that Obama inherited this mess. As the video record makes abundantly clear, however, Mr. Obama walked into a mess created by the Liberal Democrats, the Congressional Black Caucus and, yes, he himself.

http://www.youtube.com/watch?v=cMnSp4qEXNM&feature=PlayList&p=12FD0B82F7C6123E&playnext_from=PL&playnext=1&index=3

ACORN played a signal role in pressuring lending institutions to abandon the conservative lending practices which had for so long well served the housing market and all of America, in favor of liberal lending policies which, while they allowed more people than ever before to buy new homes, they also put at risk home values nationwide, our major American financial institutions, and the very economy which the entire globe relied upon for all its commerce.

When these people, who benefited from Obama-ACORN’s “Social Justice” changes to the practices of our lending institutions, were predictably unable to make payments on the homes they couldn’t afford, the mortgages went into default, and the economy collapsed. Even former Federal Reserve Chairman Alan Greenspan testified that it was the Fannie Mae and Freddie Mac loans defaulting which was the major cause of the financial crisis we are now in.

It was not “eight years of George W. Bush’s failed policies” as Obama to this day continues to repeat (despite that he knows what a vicious lie this is). Had Bush and the GOP had their way, this entire disaster could have been averted starting with a return to the more strict lending practices as far back as 2003. This entire disaster never needed to happen, but for the bullying, race-baiting, and Social Justice reforms insisted upon by ACORN, Obama, The Congressional Black Caucus, and the Liberal Democrats now in power. Keep in mind that Fannie Mae and Freddie Mac, at the time of the housing market collapse, securitized half of our Nation’s twelve trillion dollars in total mortgage debt. Even now, the newly-proposed financial regulations do not extend to cover Fannie and Freddie. Why?

So, back to the previous question: should we now let these same dishonest, lying, race-baiting bullies impose the greatest regulatory reform in history on our major financial institutions? It’s a rhetorical question.

This is your must read article of the day, and well worth subscribing to the Financial Times:

The challenge of halting the financial doomsday machine
By Martin Wolf

I’ll just leave you with one thought from my perspective; the people who were responsible for creating this machine are also now designing new methods in the U.S. and U.K. to preserve their profits and power by putting the liability on the taxpayers instead of playing by the rules of capitalism. This is not crony capitalism, it is a perverse form of socialist feudalism and if the people do not bring this to a halt, take the medicine of a major deleveraging and finally reset the system where more, not less, laissez-faire capitalism is the rule of the day.

Sadly, I think we’ll all be calling each other comrade before the reset occurs.

It’s even worse than this author thinks. I believe the Democrats are arranging ways to pass out taxpayer money in exchange for enormous political contributions that will make them the party in control in perpetuity.

Excellent! Another must read is posted here today, “Palin, Ready To Lead” or something like that. If you come across it, take the time to read it... Pulitzer stuff.

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