Connecting the Dots

 

“I mean up until this recent crisis, as recently as March, when I was calling for a fundamental overhaul of the regulatory system on Wall Street, Senator McCain was saying I’m basically a deregulator.”

You often hear misleading comments such as the one above from Barack Obama.  He, of course, was the last person in Congress that would want to regulate Fannie and Freddie as it was in fact the Republicans to include John McCain that have been trying to do this over the last decade.  For those nay-sayers here it is straight from President Clinton’s mouth last week.

“I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress, or by me when I was President, to put some standards and tighten up a little on Fannie Mae and Freddie Mac.”

I can list quote after quote from Barney Frank, Christopher Dodd, Senator Schumer, and Jack Reed telling their fellow congressmen, the American people, President Bush and even Alan Greenspan that there was no problem and that they didn’t know what they were talking about.  Here is a good list to start you off if you want to call my bluff.  

There are also members of Barack Obama’s campaign that were directly involved with this scandal to include Franklin Raines and Jim Johnson.  But this is just icing on the cake because all these connections only show Barack Obama’s lack of judgment.  The real connection should be that the policies that got us into this mess are something that Obama has been pushing for his entire political career.  His acknowledged work for ACORN and his support for their cause link him directly to this crisis.  Here is an article from the NY Post describing ACORN and Obama.

ACORN uses unprofessional tactics to try to pressure both the government and banks to make these risky loans to people who should not be able to afford them.  And they have been fairly successful.  It is the root cause of this entire crisis.  Obama has shown his support of this group and their tactics by working directly for them, representing them as a lawyer and funding them through the Woods Fund, the Joyce Foundation, and the Chicago Annenberg Challenge.

The scariest part is that Congressional Democrats tried to include a provision in the recent defeated bailout package that would give 20 percent of any profits the feds make from reselling mortgage securities back to groups like ACORN.  What about giving the profits back to the taxpayer who footed the bill in the first place.  I guess the Democrats have still not learned the lesson they should have from this crisis.

Tagged as: ACORN, clinton, Economy, mccain, Obama