American Political Orphan

Thursday, September 18, 2008

Democrats Directly Responsible for Economic Meltdown

The Democrats and a handful of Republicans, (can you say RINO, I’ll bet you can), are directly responsible for the economic meltdown. According to a Investment Business Daily editorial, Congress Tries To Fix What It Broke, they place the blame where it is deserved. Squarely with the Democrats.

“A visibly annoyed House Speaker Nancy Pelosi rejected suggestions that Democrats share blame for the meltdown. “No,” she snapped at reporters who dared ask.

Stick to our narrative, she scolded: The bursting of the housing bubble was another story of market failure and deregulation.

“The American people are not protected from the risk-taking and the greed of these financial institutions,” she said, while calling for investigations of the industry.

Only, the risk-taking was her idea — and the idea of all the other Democrats, along with a handful of Republicans, who over the past 30 years have demonized lenders as racist and passed regulation after regulation pressuring them to make more loans to unqualified borrowers in the name of diversity.

They were the ones who screamed — “REDLINING!” — and sent banks scurrying for cover in low-income neighborhoods, where they have been forced to lower long-held industry standards for judging creditworthiness to make the subprime loans.

If they don’t comply, they are threatened with stiff penalties under the Community Reinvestment Act, or CRA, a law that forces banks to make home loans to people with poor credit risks.

No fewer than four federal banking regulatory agencies are responsible for enforcing the law. They subject lenders to racial litmus tests and issue regular report cards, the industry’s dreaded “CRA rating.”

The more branches that lenders put in poor neighborhoods, and the more loans they make there, the better their rating. Those lenders with low ratings can not only be fined, but also blocked from mergers and other business transactions needed to expand.

The regulation grew to monstrous proportions during the Clinton administration, obsessed as it was with multiculturalism. Amendments to the CRA in the mid-1990s dramatically raised the amount of home loans to otherwise unqualified low-income borrowers.

The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages. The changes came as radical “housing rights” groups led by ACORN lobbied for such loans. ACORN at the time was represented by a young public-interest lawyer in Chicago by the name of Barack Obama.

HUD, in turn, pressured Fannie Mae and Freddie Mac to purchase more subprime mortgages, and Fannie and Freddie, in turn, donated to the campaigns of leading Democrats like Barney Frank and Pelosi who throttled investigations into fraud at the agencies.”

And how are they reacting? Bloomberg - Democratic Congress May Adjourn, Leave Crisis to Fed, Treasury. From the article, One reason, Senate Majority Leader Harry Reid said yesterday, is that “no one knows what to do.”

I think that speaks for itself, don’t you?

Of course, the Democrats and the Legacy Media love to talk the economy down during an election year. They are going to blame John McCain and George Bush. Whatever they accuse them of, know this, they are really talking about themselves.

This year the American People need to hold them accountable. I sure hope they do.

Wednesday, September 17, 2008

Pelosi “No Responsibility for Economic Crisis” Oh Really?

From The Hill By Klaus Marre Pelosi: Dems bear no responsibility for economic crisis

Oh really? Not so fast there Ms. Pelosi. I know you are deligted that the economy is in the tank however you and the Democrats bear all the blame for this mess.

According to the guys at Powerline in their blog post, Turmoil in the Markets,  they point to a report from Fox News’s John Gibson which clearly implicates the Democrats.

From John Gibson,

“Lehman Brothers’ collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs.
A group called the Center for Responsive Politics keeps track of which politicians got Fannie and Freddie political contributions. The top three U.S. Senators getting big Fannie and Freddie political bucks were Democrats, and number two is Senator Barack Obama. Now, remember, he has only been in the Senate four years but still managed to grab the number two spot ahead of John Kerry, decades in the senate, and Chris Dodd, who is chairman of the Senate Banking Committee.

Fannie and Freddie have been creations of the Congressional Democrats and the Clinton White House, designed to make mortgages available to more people, and as it turned out, some people who couldn’t afford them. Fannie and Freddie have also been places for big Washington Democrats to go to work in the semi-private sector and pocket millions. The Clinton administration’s White House budget director Franklin Raines ran Fannie and collected $50 million. Jamie Gorelick, Clinton Justice Department official, worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama’s VP search committee, has hauled in millions from his Fannie Mae C.E.O. job.

Now remember, Obama’s ads and stump speeches attack McCain and Republican policies for the current financial turmoil. It is demonstrably not Republican policy and worse, it appears the man attacking McCain, Senator Obama, was at the head of the line when the piggies lined up at the Fannie and Freddie trough for campaign bucks. Senator Barack Obama, number two on the Fannie/Freddie list of favored politicians after just four short years in the Senate. Next time you see that ad, you might notice he fails to mention that part of the Fannie and Freddie problem.”

And now today, Senate Majority Leader Harry Reid, true to form, was blaming John McCain of the economy. 

And also from the Politico, Pelosi orders wide Wall Street probe,  well this should be a nice “show trial” for sure. I cetainly hope it backfires on them and the real truth comes out.

Not likely, but I think they under-estimate the American People. We won’t really know for sure until November 4th when the American People WILL be heard.

Tuesday, April 01, 2008

Hillary Clinton “Unethical, Dishonest Lawyer”

Hillary Clinton’s Bosnia lie was nothing compared to this!

Read On

Jerry Zeifman supervised 27 year old Hillary Clinton’s work during the Watergate Investigation. After the investigation was over she was fired. The reason according to Zeifman was; “Because she was a liar.” “She was an unethical, dishonest lawyer. She conspired to violate the Constitution, the rules of the House, the rules of the committee and the rules of confidentiality.”
Dan Calabrese of Northstarwriters.com has all the detail in his March 31, 2008 column. Watergate-Era Judiciary Chief of Staff: Hillary Clinton Fired For Lies, Unethical Behavior
Are you surprised? I’m not.
Read the account as told by Zeifman. This lady woman certainly doesn’t deserve to be President.
As Calabrese points out; “the pattern of lies, deceit, fabrications and unethical behavior was established long ago – long before the Bosnia lie, and indeed, even before cattle futures, Travelgate and Whitewater.

Thursday, August 30, 2007

Liar Liar, Pantsuit on Fire

From Fox News, Hillary Clinton Expresses Surprise at Big Money Donor’s Wanted Status

Campaign finance 101 (Clinton Style), find a large donor making an illegal contribution and hook him up with a “bundler.” The “bundler” uses a database of contributors who have never donated to a political campaign or don’t have the resources to make the level of contribution that is recorded and buy individual money orders (cash) in their name for the maximum amount any one contributor can contribute. Pretend that it is legitimate unless challenged by authorities. If you are caught feign outrage and shock and pledge to donate the illegal finds to charity. Oh Oh wait! If you can get other members of your family to pretend to be shocked, (cough, cough, husband) it will add even more credibility to the fact that you were truly shocked.

If the “bundller” happens to be a felon fugitive just pretend to be even more shocked.

Saturday, July 07, 2007

Nixon is Dead and the Office May Not be in the Watergate Hotel - But!

Obama’s Campaign Headquarters Burglarized

Crackheads might like your laptops but they sure wouldn’t steal the campaign literature.