JBD

40 years of deliberate race baiting and socialism.

It's pathetic, really, that we allowed this to happen. We were too easily mau-maued and too willing to hope for the best, even in the face of overwhelming evidence to the contrary. Multiple studies proved that there was practically no discrimination in mortgage lending based either on race or home address, but those "community organizations" sued anyway, knowing that sooner or later they'd get a sympathetic judge or a cowardly bank board to pay them off.

The most glaring example of this expanding legal extortion? The banks were required to pay groups like ACORN a finder's fee for forcing them to issue loans that they knew would never be paid back. Blatant goddamn protection racket.

Mafia, step aside. Unions, take your hats off. When it comes to big-time shakedowns, ACORN takes the cake. And now they will have a hand on the shoulder of the President of the United States.

And who does Waxman blame for the problem? Greenspan! For not regulating the companies who were told by the government that they had to buy these sub-prime securities or face lawsuits and investigations! Greenspan can't believe companies took the risks they did, but they took those risks because the government told them they had to. So Waxman spews the Democratic smokescreen that "deregulation" and "free market greed" caused the problems we're in now.

It's madness like this that creates horrible laws like Sartbanes-Oxley, where one part of the government tells you that you have to do something (sign all financial statements swearing that you personally vouch for every number), and the other tells you that you're going to get sued if you do! No wonder nobody wants to be on a corporation board any more.

That bastard Waxman was in congress the whole time this was going on. Did he ever investigate any of these activities, even when Raines was strung up for fraud? Nope. Why? Because he's part of the problem. He's not going to spank Barney Frank or Chris Dodd or Bill Clinton or Mario Cuomo or the dozens of other Democrats who caused this mess. He'd be chopping down his own power base. He knows he's in great shape as long as he limits his investigations to Republicans.

This will all come a cropper very soon. With credit frozen and banks made out to be villains, nobody will invest in anything but super-safe real estate deals, and all those "poor" people who inflated the housing market with subprime loans will have nowhere to go but the government. And we know how well government-owned housing turned out the last two times it was tried, don't we FDR and LBJ?

So watch for more of the Section 8 style mayhem.  The government will buy housing and put people who can't afford to pay for it into that housing at no cost to the residents. What happens? No cost = no responsibility, and the place will be turned into a mess in a matter of months. In short order thereafter, the neighbors will sell out at a loss and move away from the crime and decay brought in by the losers. Repeat this process a couple of dozen times until a new ghetto is born, soon to be followed by community organizers and more of the same political strongarming.

It was while he was dealing (unsuccessfully) with previous government housing mayhem that Obama decided to give up community organizing and get into law and politics, so he could take credit without having to actually produce results.

The country will not put with this for long. Hell to pay for the Democrats in 2010, I say.

Posted by: JBD at 12:49 PM | No Comments | Add Comment
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