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Now that the legal mumbo jumbo is outta the way...

Friday, September 19, 2008

Boortz Blast - who to blame with current financial crisis

From Boortz, link to the right.

Friday, September 19, 2008
About Nancy Pelosi. She says the Democrats share absolutely none of the blame for the current financial goings-on. She's wrong. In fact, she's lying because she knows here statement to be untrue. I'm going to unload on this when I get back, but here's your primer:

1. Almost all of the financial problems we see today are based on bad mortgage lending. That would be lending money to people to buy homes who didn't qualify for a loan.

2. The Democrats, under Clinton, strengthened a government-created monster called the "Community Reinvestment Act." This law was then used by "activists" and "community organizers" (like Obama?) to coerce lending institutions to make these bad loans ... millions of them.

3. Now we see what happens when political "wisdom" supplants good loan underwriting. When private financial institutions are virtually forced to make loans to people with a bad credit and job history .. this is what you get. Enjoy it.

The Democrats have offered us a candidate who is very anti-private sector. Obama believes that America is great because of government and those who, like him, deride the profit motive. If Americans are stupid enough to believe his socialist drivel and put him in office .. .then we will get just what we so richly deserve. This week is just a preview.


Next week ought to be a hoot! Oh and he didn't mention that two years ago Bush tried to get passed increased oversight regulation of Fannie & Freddie Mac because he said we are rushing toward a disaster. Well he was right. Dems (and turnfaced Republicans) knocked it down.

Who to blame?


Scrappy said...

We were talking about this yesterday. Scarey stuff!I afraid that the average American voter is going to think this is Bush's fault and will be swayed to vote for Obama!

Auntie Em said...

Did you see the hecklers Obama received I think yesterday???? They call themselves "Blacks Against Obama"!!!! Amazing. They have a website and are organized. I went there and they have some of their facts wrong but it was very odd to see.