Excuse Me, Mr Obama? Wasn’t it You Who Voted to Bail Them Out?

Time to man up Mr Obama and put on your big boy pants, stop blaming George Bush and scolding the Republicans, The Massive Trillion dollar debt is the fault of you and your radical “Progressive Friends over on the Left”! Blaming  the banks that you forced to make bad loans through the Community Re-investment Act is not very presidential of you.  This recent grandstanding demanding “your” money as if you inherited the problems and this economy.

I’ve been fighting alongside ACORN on issues you care about my entire career. Even before I was an elected official, when I ran Project Vote voter registration drive in Illinois, ACORN was smack dab in the middle of it, and we appreciate your work. — Barack Obama, Speech to ACORN, November 2007

Not only did you lend the money but you were the head legal counsel represented ACORN demanding the extension of the Community Re-investment Act (CRA) signed by President Clinton. All the while your mentors Cloward and Pivan stood in the background.

A 1995 strengthening of the Community Reinvestment Act required banks to find ways to provide mortgages to their poorer communities. It also let community activists intervene at yearly bank reviews, shaking the banks down for large pots of money.Banks that got poor reviews were punished; some saw their merger plans frustrated; others faced direct legal challenges by the Justice Department. [Read more: Economist Stan Liebowitz NY Post]

You and your radical friends set up the the biggest plundering of American wealth  starting back at the turn of the century finally your house of cards came crashing under the pressure of the Community Reinvestment Act Signed under Jimmy Carter in 1977.

In the Newsmax Article entitled;  Obama, ACORN, and The Mortgage Meltdown

Obama, ACORN, and Mortgage Meltdown In 1977 a Democrat Congress passed and President Jimmy Carter signed The Community Reinvestment Act (CRA), and the ACORN Housing Corporation (AHC) was instrumental in its passage. The U.S. Congress through the CRA compelled banks and lending institutions to make loans to “communities of color” disregarding sound economic and risk guidelines. CRA encouraged the relaxing of “outdated” risk-management protocols and underwriting obligations by lending institutions. In the name of ending discrimination, no longer were “communities of color” required to provide verification of income, employment, credit history, ability to pay homeowner bills, or down payment. In response, many banks and mortgage groups bundled trillions of dollars of “subprime” loans and sold them to investors here and abroad. It is these bundled Community Reinvestment Act mortgages, doomed to fail, that are today causing financial strain in U.S. and global financial markets.

Mr. Obama you and your predecessors laid the foundation for “Fundamental Transformation of  America”, your bundled Community Reinvestment Act Mortgages, doomed to fail, that are today causing financial strain in U.S. and global Financial Markets.But you knew that based upon the ideology of Cloward, Pivan and George Soros. You can stop blaming George Bush and the “Evil Bankers” with your Alinsky style tactics, learned as a ‘Community Organizer“. Your rhetoric has come to light and yes you are extremely “Transparent” . Mr. Obama you and your “Radical Progressive Friends on the Left” Have done nothing for America except try every conceivable tactic to destroy our Republic in the name of your Marxist Agenda.

Why Attack the Banks and not Fannie and Freddie?

On January 14th when he announced the Financial Crisis Responsibility Fee. “We want our money back, and we’re going to get it.”In September 1999, Fannie Mae had pledged to commit more than $1 billion to boost minority home ownership in Chicago by expanding a program to create more affordable housing. The commitment was enlarged to $10 billion over the next four years, and in 2003, Fannie Mae home-parity funding in Chicago reached $600 billion.

When Franklin Raines, former chair and CEO of Fannie Mae, stepped down in 2004 but managed to take with him a multimillion-dollar parachute and a monthly pension of $114, 393 for life, and should he die, for his wife’s lifetime.Until recently, Raines was an advisor to Obama, who was the Senate’s second largest recipient of campaign contributions from Fannie Mae and Freddie Mac. Prior to the announcement by the White House, the Federal Housing Finance Agency approved $42 million in salaries and bonuses to the top 12 executives at Fannie Mae and Freddie Mac. Fannie Mae chief executive Michael J. Williams and Freddie Mac chief executive Charles Haldeman each will receive a base salary of $900,000 and bonuses and incentive payments of up to $5 million for running companies that might have collapsed had it not been for the federal government’s rescue in 2008. Allgov

Mark Levin, says that  Obama Disowns The Deficit He Helped Shape “That wasn’t me,” President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him on Day One. The Democrats took over Washington in January of 2007 and got busy Spending the American Taxpayers money at a historic rate.

THE FACTS: It is Your Fault Mr. Obama

You had help from the rest of the  Progressive Democrats controlling Congress the previous two years — You and the Democratic Majority have shaped a budget that was impossible to balance, and as a presidential candidate, president-elect, you backed the  Bush / Paulson stimulus plan that made the deficit deeper, all before you took office.  Only then Mr Obama you began promoting  spending plans that are would make Richard Cloward and Francis Fox Pivan beam with pride. You claim that your proposed budget “will cut the deficit in half by the end of my first term” is an incredible perverted Enron style promise that many economists …. ….. OBAMA: “Number one, we inherited a $1.3 trillion deficit…. That wasn’t me. ….sorry Mr. President America is not just not that stupid sir.

THE FACTS:

Congress controls the purse strings, not the president, and congress was under Progressive Democratic control for Obama’s last two years as Illinois senator. You Mr. Obama supported the emergency bailout package in President George W. Bush’s final months — a package your “Progressive Democratic Friends on the Left” not only wrote but wanted to make bigger. Any way you slice it Sir you are stuck with the results of your Progressive  Democratic Policies “Great Society Health Care Cost Explosion” from the 1960′s and the destruction of the US economy due to your Progressive Democrat policies

Punishing the banks, increasing taxes, fees, and regulatory red tape grandstanding around the country pointing your finger at the banks acting like a school yard bully trying to pick a fight is ridiculous. Sending emails to your followers on your personal community organizing website, demanding my tax money back, that you are throwing around Washington like you just won the lottery. is childish at best. The caveat Mr. Obama is that you are planning on forcing the same banks to make small business loans in low income neighborhoods. That sure sounds great, but is this what caused the problem that “forced you and congress” to loan $billions of taxpayer dollars to the same evil banks that you are ranting about? Isn’t that just plain stupid? Warren Buffet is a pretty smart guy says this is about as smart as Taxing Congress?

Look at the damage Fannie and Freddie caused, and they were run by the Congress,” Buffett said. “Should they have a special tax on congressmen because they let this thing happen to Freddie and Fannie? I don’t think so.”

I like it the “Congressional Financial Responsibility Crisis Act”

Related posts:

1. Detroit “The Poster Boy” for Leftists Policies

Tagged with: Cloward-Pivan Strategy • Failed Economic Policies • Government Spending • Incompetent Democratic Policies • We Want Our Money Back

Filed under: Government & Policies

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