Muscatine

“I don’t mind cleaning up the mess that some other folks made, that’s what I signed up to do” – Barack Obama (D-IL), October 20, 2009

“I think that the responsibility that the Democrats had 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.” – Former President Bill Clinton (D-AR), September 25, 2008

“Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong.” – Congressman Artur Davis (D-AL), September 30, 2008

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President Obama is using the financial crisis to make Americans doubt themselves, their values, and the very system they had believed enabled their specialness.  In the vacuum of this doubt, he is moving his agenda to radically alter the fiber of what it means to be American. – TJ Hancock (American)

Barack Obama (D-IL)

Barack Obama had three strong impacts on the financial crisis, placing him easily in the top 20 people to have caused it.

1. ACORN: Mr. Obama’s ACORN links go back far and deep. In 1995, when the Clinton Administration was changing the CRA, he was on a team of lawyers representing ACORN in a suite against Illinois’ Republican governor with regard to motor voter provisions. According to Chicago ACORN leader Toni Foulkes in early 2004, “we asked him to help us with” that lawsuit. “Since then, we have invited Obama to our leadership training sessions to run the session on power every year, and, as a result, many of our newly developing leaders got to know him before he ever ran for office…By the time he ran for US Senate, we were old friends.”Mr. Foulkes goes on to detail how ACORN helped Mr. Obama become Senator.
2. Fannie Mae payola: Despite having been in the Senate only four years, Mr. Obama was the politician to receive the most campaign contribution money from Fannie Mae executives. He was also the Senator who received the second highest total from Fannie employees and the company’s official PAC in during the entire 1995-2008 period…this, despite having been in the Senate less than four of those years. Numbers’ one (Dodd) and three (Kerry) were both Senators the entire time.
3. Opposition to regulation: When Mr. Obama joined the Senate in January 2005, he joined the Democrat opposition in blocking the regulation that had passed the House and Senate committee, and preventing it from reaching the Senate floor Had he supported the regulation and led only four of his Democrat colleagues to do the same, the Fannie Mae bubble would have deflated in 2005, rather than exploding in 2007.
4. Franklin Raines: In July and August 2008, the Washington Post cited Franklin Raines as being employed by the Obama campaign. When the McCain campaign made that news an issue, the Obama campaign denied the report’s accuracy. The Post then agreed with the Obama campaign that the reports were not well sourced.

The link, below, is to the entire article explaining, in detail, the fact that it was the democrats, not Bush, that were responsible for the Housing bubble and subsequent collapse of the economy.    It is lengthy.  I dare you to read it and get an understanding of the history of the whole thing.   These are the facts.   Not the blather and pish posh distracted ramblings we have seen here.

 http://tjhancock.wordpress.com/housing-bubble-financial-crisis-detailed-comprehensive-assessment/