CSPAN Video Exposes Democrat Support of Sub Prime Mess
Stopping the Formation of the (USSA) United Socialist States of America
Every economist agrees that the current financial crisis is a direct result of the melt down related to the bursting of the “housing bubble”. A bubble fueled by Fannie Mae, Freddie Mac by making highly risky “government backed loans” to people with low paying and even no jobs at all with virtually no chance of paying them back. Mortgage money was flowing free like water thanks to the combination of low interest rates and government give away institutions like Fannie and Freddie.
Here you can listen to Democrats in their own words dismissing the alarms raised by the regulators of the now FAILED Fannie Mae and Freddie Mac. These hearing took place in 2004 (remember this when you watch the video) and CLEARLY Republicans were warning that MORE CONTROLS were needed and that the corruption and free for all housing give away to so called “low income” housing was headed for a crisis. Listen and see the words straight from the horses mouth.
This CSPAN2 video is a bit long but after about 50% of it you will clearly get the picture of the facts that the Democrats DON’T want you to hear !!!
Mr. Franklin Raines, mentioned in the video, by the way is alleged to be one of Obama’s economic advisers. He is the now ex-CEO of Fannie Mae who was making in excess of $90M / year and was also the subject of scrutiny of regulatory investigator being questioned in Congress. Now of course there is admission of a “lack of oversight” and Dems want to blame Republicans! (Fannie and Freddie were created under the Carter Administration) — even Clinton said at the end of the video that HE should have done more to regulate them. But the fact remains, they were protected by the most socialist Dems and that fact points the finger in the opposite direction my friends.
Not only do Democrats now want a quick fix to get this behind them but they also want to dump more good money after bad into these same agencies and other “social welfare” programs like ACORN and La Razza. They want the taxpayers to pay for it. In my book that’s Socialism in its purest form!!
The cat is out of this bag and taxpayers should not be footing the bill and end up indirectly turning America into a socialist state. Democrats WILL INCREASE ALL OUR TAXES (not just the “wealthy”) TO FUND THIS BAIL OUT and we will never see a dime of so called “potential profit” from all these bad mortgage loans. YOu can take THAT to the bank!
Stop Democrat (quickly becoming the Socialist Party) in Congress from”CHANGING” America into a socialist state. Stop the formation of the (USSA) United Socialist States of America without us even realizing it.
Call Congress NOW! Congressional Switchboard (you will be connected to your representative’s and senator’s office) and say no to set aside for ACORN and LaRaza. No pork barrel. No earmarks. No bailout moneys to ACORN and LaRaza and other Democrat social programs that have created this mess.
1-877-851-6437
1-800-828-0498
1-866-340-9281
1-866-338-1015
FOOT NOTES and REFERENCES to still un-confirmed allegations of Obama and Raines ties:
On September 18, 2008, John McCain’s Campaign, published a campaign ad that quoted the Washington Post’s claim that Franklin Raines advises Barack Obama on economic matters. The ad also notes that “Raines made millions and then left Fannie Mae while it was under investigation for accounting irregularities”. Both Raines and the Obama Campaign claim that Raines is not an Obama advisor and has never advised Senator Obama. When the claim that Raines was an Obama advisor appeared multiple times in the Washington Post (first July 16th) months before the McCain ad, the Obama campaign didn’t seek a correction. However, they did seek a correction from the Post after the ad appeared. – References
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