The Communist Party of Great Britain aren’t wasting any time.
Hat tip: Harry’s Place
It’s not just Clever Heather who gets confused, then 😉
Saw that on Jim Jay’s blog yesterday.
Sometimes I think I’m a bit “Ultra Left” and then you get this, …..priceless!
Give him a chance to prove his “terrorist” credentials, or hopefully not.
Exactly which ‘CPGB’ is this, the People’s Front of Judea, or the Judean People’s front, or the…
…hang on. I’ve just remembered that no one cares.
Don’t confuse those Americans!
Doesn’t the Weekly Worker know what they do to those socialist / communist types?
Things can only get better …?
Why it truly is Barack Obama’s subprime mortgage mess
Nov 13, 2008
By Cynthia Walker
Truthfully, I wish that I could hibernate between now and Nov. 4. I am so sick of political hysteria. But duty calls. Way back in the summer of 2007, as the number of subprime foreclosures began to mount, my editor asked, “What happened? Who loosened what regulations to make this possible?” The answers have been coming in.
The best synopsis of the history of “Why the Mortgage Crisis Happened” is a 7,344-word piece by M. Jay Wells published Oct. 26, 2008 on http://www.americanthinker.com. It is a story of how the federal government has been taking more and more control of the housing market, starting in the ’30’s with the establishment of Fannie Mae, the Federal National Mortgage Association. In 1968, as part of his Great Society reform, President Lyndon Johnson turned much of Fannie Mae into a government sponsored enterprise (GSE) with the authority to issue mortgage backed securities (MBS). Control, power, and money were concentrated.
All that concentrated money looked invulnerable. To share the wealth, Sen. Proxmire (Democrat) introduced a bill which was signed into law in 1977 by President Jimmy Carter, the Community Reinvestment Act (CRA), to encourage banks to make homeownership loans in underserved (poor and minority) communities. Encouragement was one thing, but banks were understandably reluctant to make loans to people with bad credit.
During the ’80’s radical groups such as ACORN began to pressure to reshape the CRA, to not just encourage but to force banks to make loans to people with bad credit, all in the name of anti-discrimination. During the ’90’s community organizer Barack Hussein Obama worked closely with ACORN, teaching the intimidation tactics of “direct action:” crowding bank lobbies, blocking drive-up teller lanes, demonstrating at the homes of bankers, telling the media that bankers who refused to make loans to people with bad credit were racists.
Agitators, including Barack Obama with ACORN, filed complaints of non-compliance and lawsuits against banks that adhered to safe loan policies. The banks caved. Credit standards were lowered. GSEs (Fannie Mae and Freddie Mac) were instructed by the Clinton administration to increase the percentage of risky loans in their portfolios.
Teaching the intimidation tactics of “direct action:” No doubt following the tactics of Saul D Alinsky, amongst others mentor to Hilary C.
“the mass of our people … must feel so frustrated, so defeated, so lost, so futureless in the prevailing system that they are willing to let go of the past and change the future. This acceptance is the reformation essential to any revolution.”
They may be able to break eggs, but can they actually make omelettes?
“Two days after introducing what he heralded as the most sweeping ethics rules in American history — ones that would “close the revolving door that lets lobbyists come into government freely” — President Barack Obama today waived those rules for his nominee for Deputy Secretary of Defense, William Lynn.
Until last fall, Lynn was a registered lobbyist for the defense contractor Raytheon.”
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