Archive for October 7th, 2008

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Questions I would like to see tonight

October 7, 2008

“Mr. Obama, please comment on the following quote from the philosopher Spinoza, ‘there can be no hope without fear.’ As you are running a campaign of hopemongering, would you consider yourself a fearmongerer.”

“Mr. McCain, please read these four pages aloud from David Foster Wallace’s Up, Simba, where the recently deceased journalist who rode the straight talk express in 2000 details your excruciating time at the Hanoi Hilton. As a follow up, tell us what a great guy he was.”

“Mr. Obama, the US has not been attacked since Sept 11, 2001 and the Democrats did not come to power in Congress till January 2007. Please detail each and every element of the Bush and Republican Congress agenda that kept us safe.”

“Mr. McCain, you are better than Huckabee.”

“Mr. Obama, it is noted that in countries with the highest marginal tax rates, unemployment numbers are extremely high as well. How do you intend to soak the producers of the world and at the same time make sure the little guy doesn’t get hurt.”

“Mr. McCain, what is your favourite type of beer?”

“Last question, Mr. Obama, if you win this year, you will have kept two women from reaching the White House in one year. Do you feel good about yourself, sexist?”

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Not up to Whose Standards?

October 7, 2008

MM has reported on NBC’s reasoning for pulling a skit from its website.  NBC has reported that the skit will be edited and reposted as soon as the editing is complete.  In my eyes the only thing that deserves to hit the editor’s room floor is the line “People who deserve to be shot”.  I do believe the Sander’s have some ‘splainin to do, but they are real people.  The last thing we need is some psychopath finding these slime and shooting them.  If anything else is edited out, NBC has cemented themselves as a Corporation who has pledged their allegiance to the the Left Wing financiers, and will even censor themselves to retain their loyalty. 

MM reports

Peter Viles at L.A. Land reports that Saturday Night Live is rewriting its forbidden Soros/Sandler-bashing
bailout skit because it “didn’t meet their standards.”

Translation: It didn’t meet George Soros’s standards!

The scoop:

A “Saturday Night Live” skit that skewered President Bush, Democrats, homebuyers and subprime lenders for their roles in the mortgage meltdown was removed from the program’s website because it “didn’t meet out standards,” a spokesman for the show said Tuesday. An edited version of the skit will be re-posted online soon, the spokesman said.

The skit, a parody of a C-SPAN news conference, ridiculed subprime borrowers, housing speculators and Herbert and Marion Sandler, the real-life couple who built Golden West Financial into a subprime lending powerhouse and sold it to Wachovia before the subprime collapse. At one point in the skit, the Herb Sandler character says he made $24 billion off the subprime boom. Graphics then appear labeling the Sandlers as “People who should be shot.”

“Upon review, we caught certain elements in the sketch that didn’t meet our standards,” a spokesman for the program said in an E-mail message Tuesday. “We took it down and made some minor changes and it will be back online soon.”

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Obama Camp Admits that Obama Still Associated with Ayers

October 7, 2008

Robert Gibbs admits that Obama continued to “pal around” with Ayers after he learned of Ayers terrorist past. Thanks AllahPundit!

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ACORN office raided in Las Vegas

October 7, 2008

The ACORN office in Las Vegas was raided this morning after a warrant was issued and served.  ACORN is being investigated for voter fraud in the state of NV.  ACORN is on the payroll by the Obama campaign and had been paid to “get-the-vote-out”.  There will likely be more breaking information later, but here is the information I could find.  Nevada is a swing state once again in this year’s election.

Just Chicago politics, once again, rearing its ugly head via its new hopeful giant The Messiah himself, Obama

-Reagan21

MORE: by way of MM

Agents with the state attorney general’s and secretary of state’s offices served a search warrant this morning on the new ACORN headquarters. The Association of Community Organizations for Reform Now office is located at 953 E. Sahara Ave.

The warrant was part of an ongoing investigation into suspected voter registration fraud. Employees are suspected of using false addresses or false names, including those of former Dallas Cowboys, according to the secretary of state’s office.

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SNL BANNED Skit

October 7, 2008

Won’t last so enjoy it while you can

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Jack Donaghy’s Alter Ego on the Financial Crisis

October 7, 2008

Linked from the National Review:

Alec Baldwin on Bill Maher

The, the thing we have to remember, a friend of mine who is very close to the financial community in New York pointed out that Democrats have a lot of the responsibility for this as well. I mean, it was Clinton who killed the Glass-Steagall, and it happened under a Democratic president. Barney Frank and his committee, they, they kept propping up Fannie Mae and Freddie Mac saying everything’s fine, everything’s fine, everything’s good. And it was his job to know everything wasn’t fine. And Barney Frank let you down and let us down as well. And so, but I want to say there’s blame to go both ways. But I will say, I want to, I maybe keep beating this to death, but I still think anyone in this Congress who voted to add $140 billion to that bill, they should be ashamed of themselves. That is a disgrace. It’s a disgrace. This Congress is a disgrace, Democrat and Republican.

As we all know, he is completely wrong on Glass-Steagall as subprime had already started. It is interesting to see Jack Donaghy (Alec Baldwin’s Republican character on 30 Rock) inform the usually super-liberal Alec Baldwin’s opinion

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Kaite Couric: Objective Journalist

October 7, 2008

I read a lot of [magazines and newspapers], luckily I am not running for Vice President.

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The Sordid History of ACORN and the Ties to the Financial Meltdown

October 7, 2008

Stanley Kurtz has a great article detailing the history of ACORN and its ties to the financial meltdown. Here is the Cliffs Notes version of his work

  • ACORN intimidated banks into making high-risk loans to low-credit customers using provisions of the 1977  Community Reinvestment Act (CRA). Chicago ACORN was able to delay and halt the efforts of banks to merge or expand until they had agreed to lower their credit standards and to obtain “counseling” compensation.
  • Heidi Swarts, a strong supporter of ACORN and author of Organizing Urban America, notes that ACORN members think of themselves as “militants unafraid to confront the powers that be” and ACORN protesters break into private offices, show up at a banker’s home to intimidate his family, or pour protesters into bank lobbies to scare away customers, all in an effort to force a lowering of credit standards for poor and minority customers.
  • The 1977 Community Reinvestment Act forced banks to increase lending in poor and minority neighborhoods, but its exact requirements were vague and open to interpretation. Bank mergers or expansion plans were rarely held up under CRA until the late 1980s, when ACORN perfected its technique of filing CRA complaintsand intimidated representatives of banks.
  • A provision of the 1989 savings and loan bailout pushed by Democratic legislators, like Joseph P. Kennedy, required lenders to compile public records of mortgage applicants by race, gender, and income.  The statistics produced by these studies were presented in highly misleading ways and groups like ACORN were able to use them to embarrass banks into lowering credit standards.
  • IN 1991, House Democrat Henry Gonzales had announced that Fannie and Freddie had agreed to commit $3.5 billion to low-income housing in 1992 and 1993, in addition to a just-announced $10 billion “affordable housing loan program” by Fannie Mae.
  • A mere month later, ACORN Housing Corporation president, George Butts made news by complaining to a House Banking subcommittee that ACORN’s efforts to pressure banks using CRA were still being hamstrung by Fannie and Freddie. Butts also demanded still more data on the race, gender, and income of loan applicants. Many news reports over the ensuing months point to ACORN as the key source of pressure on congress for a further reduction of credit standards at Fannie Mae and Freddie Mac. As a result of this pressure, ACORN was eventually permitted to redraft many of Fannie Mae and Freddie Mac’s loan guideline.
  • In the Clinton administration, Clinton Housing Secretary Henry Cisnersos pledged to meet monthly with ACORN representatives.
  • At this point, both ACORN and the Clinton administration were working together to impose large numerical targets or “set asides” (really a sort of poor and minority loan quota system) on Fannie and Freddie. ACORN called for at least half of Fannie and Freddie loans to go to low-income customers. At first the Clinton administration offered a set-aside of 30 percent.
  • In early 1994, the Clinton administration floated plans for committing $1 trillion in loans to low- and moderate-income home-buyers, which would amount to about half of Fannie Mae’s business by the end of the decade.
  • In June of 1995, President Clinton, Vice President Gore, and Secretary Cisneros announced the administration’s comprehensive new strategy for raising home-ownership in America to an all-time high. Representatives from ACORN were guests of honor at the ceremony. In his remarks, Clinton emphasized that: “Out homeownership strategy will not cost the taxpayers one extra cent. It will not require legislation.” Clinton meant that informal partnerships between Fannie and Freddie and groups like ACORN would make mortgages available to customers “who have historically been excluded from homeownership.”
  • At both the local and national levels, then, ACORN served as the critical catalyst, levering pressure created by the Community Reinvestment Act and pull with Democratic politicians to force Fannie Mae and Freddie Mac into a pattern of high-risk loans.

In addition to Stanley Kurtz’s work, Michelle Malkin has more on this on her site.

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The ACORN & Obama Record – FACT CHECK

October 7, 2008

THE ACORN/OBAMA RECORD

Obama Formerly Represented ACORN, Taught Classes For Future Leaders Of ACORN, And They Endorsed His 2008 Presidential Campaign:

Obama Directed Project Vote And Later Taught Classes For “Future Leaders Identified By ACORN And The Centers For New Horizons.” “He [Obama] says he is drawn to politics, despite its superficialities, as a means to advance his real passion and calling: community organization. … In 1992 Obama took time off to direct Project Vote, the most successful grass-roots voter- registration campaign in recent city history. Credited with helping elect Carol Moseley-Braun to the U.S. Senate, the registration drive, aimed primarily at African-Americans, added an estimated 125,000 voters to the voter rolls — even more than were registered during Harold Washington’s mayoral campaigns. ‘It’s a power thing,’ said the brochures and radio commercials. … Obama continues his organizing work largely through classes for future leaders identified by ACORN and the Centers for New Horizons on the south side.” (Hank De Zutter, Op-Ed, “What Makes Obama Run?” ChicagoReader, 12/8/95)

Obama Was Part Of Team Of Lawyers Who Represented ACORN In A Suit Against The State Of Illinois.

“Obama was part of a team of attorneys who represented the Association of Community Organizations for Reform Now (ACORN) in a lawsuit against the state of Illinois in 1995 for failing to implement a federal law designed to make it easier for the poor and others to register as voters.” (Mike Robinson, “Obama Got Start In Civil Rights Practice,” The Associated Press, 2/20/07)

ACORN’s Political Action Committee Endorsed Obama.

“[A]CORN’s political action committee endorsed Barack Obama for President. … The endorsement reflects a belief that Obama — who worked as a community organizer on the South Side of Chicago — understands that change must come from the ground-up, as part of a working coalition, rather than from position papers.” (Katrina Vanden Heuvel, Op-Ed, “ACORN: Obama Gets It,” The Nation, 2/23/08)

Obama’s Campaign Paid Over $800,000 To ACORN For Get-Out-The-Vote Efforts, But “Mistakenly Misrepresented” Their Work To The FEC:

Obama’s Campaign “Paid More Than $800,000″ To ACORN For Get-Out-The Vote Efforts; The Campaign Originally “Misrepresented” The Group’s Work To The FEC. “U.S. Sen. Barack Obama’s presidential campaign paid more than $800,000 to an offshoot of the liberal Association of Community Organizations for Reform Now for services the Democrat’s campaign says it mistakenly misrepresented in federal reports. An Obama spokesman said Federal Election Commission reports would be amended to show Citizens Services Inc. — a subsidiary of ACORN — worked in ‘get-out-the-vote’ projects, instead of activities such as polling, advance work and staging major events as stated in FEC finance reports filed during the primary.” (David M. Brown, “Obama To Amend Report On $800,000 In Spending,” Pittsburgh Tribune Review, 8/22/08)

While Serving On The Board Of Directors Of The Woods Fund, ACORN Received Thousands Of Dollars Of Grants From The Organization:

The Chicago ACORN Received Grants Of $45,000 (2000), $30,000 (2001), $45,000 (2001), $30,000 (2002), And $40,000 (2002) From The Woods Fund. (Donors Forum Website, ifs.donorsforum.org, Accessed 6/10/08)

NOTE: From 1993 To 2002, Barack Obama Served On The Board Of Directors For The Woods Fund. (Tim Novak and Fran Spielman, “Obama Helped Ex-Boss Get $1 Mil. From Charity,” Chicago Sun-Times, 11/29/07)

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Financial Credit Market Mess Makers

October 7, 2008

Why won’t the Dems in Congress call up Fannie and Freddie for hearings? Read below, the fault lies at their feet.

-AP

Leo Patterson for the Pittsburgh Tribune-Review:

Seconds into the vice-presidential debate, Sen. Joe Biden regurgitated the lie about the current administration’s failed “economic policies” being responsible for the financial mess.

To date, not one Democrat has clearly defined which policy they’re talking about (they can’t, because there isn’t any). Furthermore, Congress (not the White House) is responsible for investigation and oversight and Nancy Pelosi and Harry Reid ignored warnings from both candidates.

The truth being obscured by mainstream media is that the financial mess began with Jimmy Carter’s 1977 Community Reinvestment Act.

Next, in 1992, a majority-Democrat Congress mandated that Fannie Mae and Freddie Mac increase mortgages for low- and medium-income borrowers.

In 1995, it was Bill Clinton’s Treasury Department using the CRA to lower lending standards, followed by HUD Secretary Andrew Cuomo strong-arming Fannie and Freddie (investigating them for discrimination and proposing that 50 percent of their business include low-to-moderate-income mortgages by 2001).

Then there’s the bipartisan 1999 Financial Services Modernization Act (more deregulation without oversight), which Clinton signed into law.

The media also ignore how Clinton teamed up with the Federal Reserve to demand that banks treat welfare payments and unemployment benefits as qualifying income for mortgages (threatening lawsuits), or how the liberal radical group ACORN threatened banks and lobbied for loans to low-income mortgage applicants.

Rep. Barney Frank (D-Mass.) also gets honorable mention for his tireless efforts to deregulate Fannie Mae throughout the ’90s.

And Joe Biden was there the whole time.

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