This is just wrong.
The Washington Post reports voters spread the blame for the broader economic problems facing the country:
In an open-ended question, a quarter of all voters said George W. Bush is responsible for the economy's relatively poor performance, more than any other single cause. About a quarter name Congress (8 percent), the federal government (8 percent) and Democrats and Republicans (5 percent each) together. Eighteen percent said Wall Street financial institutions and banks shoulder responsibility, 7 percent blame "everyone" and 5 percent highlighted the role of individuals who borrowed too much.
There is of course a partisan divide:
Nearly half of all Democrats blame Bush; that is just 4 percent among Republicans. Moreover, no Democrats blamed "Democrats" generally; no Republicans singled out "Republicans."
It's just so wrong, there is a strong historical record, which clearly demonstrates the current financial meltdown should be laid at the feet of President Clinton, Congressional Democrats and their community organizers.
Matt Lewis reminds us that in 1999, President Clinton set “standards” that forced Fannie Mae and Freddie Mac to make bad loans.
As Lewis writes, in 1999, the Los Angeles Times noted:
Under Clinton, bank regulators have breathed the first real life into enforcement of the Community Reinvestment Act, a 20-year-old statute meant to combat “redlining” by requiring banks to serve their low-income communities. The administration also has sent a clear message by stiffening enforcement of the fair housing and fair lending laws.
The New York Times reported Fannie Mae came under "increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits." The move to "subprime mortgages" was also pushed by banks, thrift institutions and mortgage companies, seemingly blind to the increased risk of a "government rescue similar to that of the savings and loan industry in the 1980's." Under Andrew Cuomo, HUD required that half of Fannie Mae's and Freddie Mac's portfolio be loans to low and moderate-income borrowers:
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
Sadly, there are more folks to blame than just President Clinton and former HUD Secretary, and now New York State Attorney General, Andrew Cuomo.
At a 2004 Congressional hearing, Democrat after Democrat covered for Fannie Mae and Freddie Mac and railed against regulating Fannie and Freddie.
Watch the following video and see Democrats fend off Republican calls for regulation:
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Blame should also be heaped upon the community organizers. First there is ACORN. As explained by Mona Charen, ACORN stands for the Association of Community Organizations for Reform Now. It is a left-wing "umbrella of 'community organizing:'"
They agitate for higher minimum wages, attempt to thwart school reform, try to unionize welfare workers (that is, those welfare recipients who are obliged to work in exchange for benefits) and organize voter registration efforts (always for Democrats, of course). Because they are on the side of righteousness and justice, they aren’t especially fastidious about their methods. In 2006, for example, ACORN registered 1,800 new voters in Washington. The only trouble was, with the exception of six, all of the names submitted were fake.
Unfortunately that was not an “isolated” incident. Similar fraud has been reported in Missouri, Michigan, Ohio, and Colorado.
And don't forget the wannabe Community Organizer in Chief Barack Obama:
ACORN attracted Barack Obama in his youthful community organizing days. Madeline Talbott hired him to train her staff — the very people who would later descend on Chicago’s banks as CRA shakedown artists. The Democratic nominee later funneled money to the group through the Woods Fund, on whose board he sat, and through the Chicago Annenberg Challenge, ditto. Obama was not just sympathetic — he was an ACORN fellow traveler.
Watch Stanly Kurtz explain Obama's ties to ACORN, and thus the financial crisis that is destroying the economy:
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The possibility of a financial meltdown was foreseen in advance. Senator McCain co-sponsored legislation to impose bank-like regulation on Freddie Mae and Freddie Mac. That legislation, which could have prevented the current crisis, was killed by the Democrats.
As I wrote over the weekend, the Democrats tried to reward ACORN by providing the organization a portion of whatever profits were to be made in the rejected big bailout. That giveaway to the community organizers was only removed after Senator McCain was able to get Republicans a seat at the negotiations for the big bailout.
And Finally, as the Democrats point blame fingers at others over the rejection of the big bailout, don't forget that the Democrats control Congress. As my RedState colleague, Mark Impomeni, explained there are more than enough Democrats in the House to pass any bill Speaker Pelosi really wants to pass. But she can't get it done if she orders her Whip not to do his job.
Comments
www.youtube.com/watch?v=nRmB93McZeI
Cut and paste this great video regarding the financial crisis! Already removed from youtube!
John McCain’s new ad:
http://www.youtube.com/watch?v=r2RZ0sUcVcE
AND THE PROOF IS IN THE PUDDING:
http://www.youtube.com/watch?v=_MGT_cSi7Rs
So, where does this leave Americans? Much of the people are not able to access this information and are only exposed to CNN, MSN, MSNBC, etc. Those media are supporting Obama. If someone would have told me a couple of years ago that news media will purposely cover up important information, I would have called them a liar.
Mr. Spencer: Berg v Obama is a vital story that needs to get out. Attorney Philip Berg, on August 21, 2008, brought charges against BHO, regarding his eligibility to serve as president. Daily Kos birth certificate was proven by 3 forensic document specialists as false. BHO attorney's filed for dismissal. Dismissal was denied today.
BHO was born in Kenya. Mother married Lolo Soetoro in Indonesia, lost US citiznenship. Soetoro adopted Obama. Obama never filed for naturalization. Obama, in 1981, applied for passport in Indonesia, to travel to Pakistan. Hot bed, no American could travel there at that time. Every 5 years Indonesian passports are renewed. True violation and that he, was a citizen of that country.
Much, much more information. Go to obamacrimes.com to find the full indictment information. This must get out and the mainstream media won't carry this.
Can you imagine the amount of fraud that has been carried out? All the money that has been donated to BHO? The indictment was not only against BHO, but the DNC, and the FEC. Nearly a quarter of a million dollars has been donated to the fraud. How many people voted for him?
You contract yourself to make your desired point regarding blame. You quote the La Times saying that "Under Clinton, bank regulators have breathed the first real life into enforcement of the Community Reinvestment Act." Here's a quote you'll never see and why Bush is to blame, "Under Bush, bank regulators regained control over an out of control securities scheme which pumped excessive capital into the housing market."
Saying that the Democrats had congress for two years while it was always in the power of the administration to deal with the issue must be like saying that the administration you probably voted for was an acknowledge failure and obviously incapable of actually doing its job.
Shame! Shame! Come Back Shame.
Joel S. Hirschhorn
Shame on them (the politicians) and shame on us (the public). We live in the United States of Shame. Why? Because everywhere we see nothing but disgrace, dishonor and infamy, yet a complete absence of shame. In a nation where religion supposedly plays such a big role, people seem to have used it to suppress shame and avoid blame.
Republicans should feel nothing but shame over the worst presidency in American history. Democrats should feel utter shame for a Congress that has sold out ordinary citizens. Lesser evil voters should feel heart-attack pain for their shameful behavior in maintaining the status quo two-party plutocracy. All those millionaires and billionaires that made it big in corporate America should have SHAME tattooed on their foreheads.
I have been thinking about shame as I reflect on how our nation has sunk so low and how little confidence I have that any Democrat or Republican – not Barack Obama or John McCain – will truly reform a totally corrupt and dysfunctional political system. I keep waiting to hear either of these two or any of the so-called leaders in Congress say something as simple as “As an American and an elected public official I feel nothing but shame for being part of this awful political system that has let you down.”
When those with power feel no shame over their incompetence and ineptitude they clearly have no ability to own up to it. Without the expression of shame there is no genuine apology.
I do not want to keep seeing a grinning John McCain and a smiling Barack Obama. I want to see them and Nancy Pelosi and Harry Reid and all the other losers in Congress plea publicly for forgiveness from the nation they have shamed. This is what we all should demand of them. Say this clearly; say it every freaking day every time you get in front of a microphone and camera: “I am ashamed to be part of this system. Forgive me. I will set aside all my ambitions and excuses and try to earn your forgiveness.” Write it 1,000 times every damn day. Make it your mantra. Say it every time you shake the hand of an American.
When you automatically say yet another lie to the public stop yourself, pause and say “Forgive me, bad habits are so hard to break. What I just said is really a lie. I am ashamed. Here is the truth…”
Until all those with power in the public and private sectors totally recognize, accept and proclaim their shame there is no hope for returning our nation to greatness.
Until ordinary people also accept their shame for their cowardly behavior in supporting our shameful two-party plutocracy that has given us nothing but a fake democracy, there is no way that we will vote our way out of this awful mess.
Where there is no shame there is no acceptance of blame. And we know who to blame.
Shame! Shame! Come back shame.
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