It’s an entirely fair charge, in the last debate Mitt expressed a lot of concern over the PBS portion of the deficit, which amounts to .012 percent. President Obama talked about combating Welfare fraud, which comprises billions in waste. Who do you think is going to be more effective at reducing deficits?
The other key thing to remember is that we had Romney’s current fiscal style of thinking in office in the 7 year run up to the recession, who do you think is more likely to prevent a future crash? President Obama will keep regulations in place that will keep Wall street from playing fast and loose with other people’s money, while Mitt Romney is more likely to cut his Bain buddies and their offshore accounts loose in a wild west casino economic policy.
In the mounting brouhaha over Marco Rubio’s personal expenses being charged to GOP credit cards Hot air has been fast to leap to the defense; after all the darling of the CPAC convention is a true fiscal conservative in the “Duke” Randall Cunningham and J.D. Hayworth mold…
Florida Republican Senate candidate Marco Rubio charged grocery bills, car repairs and a number of other personal expenses to a GOP-issued credit card during his tenure as speaker of the state’s House, according to a report in the Miami Herald.
The take on this from Charles Crist, Rubio’s opponent here
This story is being put out today as if it were fresh, but … it’s not quite. Kenneth J. Conner is stating that the FBI questioned him regarding appraisals of the Obama – Rezko properties, there’s a new story in the Washington Times. There are a few things to consider here before you go over the top with this breaking story:
First, Conner is portrayed as a whistle-blower, but he also has a financial stake in this story with a multi-million dollar lawsuit in the works.
So this could be opportunistic timing that turns out to be nada, or maybe we will see some arrests or new indictments. Was there something fishy about the Obama land deal? My nose leads me to believe that something smells in the state of Illinois, but time will tell this tale.
Frontpage is reporting that one of Barack Obama’s big bundlers is Jodie Evans, one of the founders of Code Pink. From Frontpage:
According to Ralph Nader’s Public Citizen, Evans has bundled “at least $50,000” in donations for Barack Obama’s 2008 campaign. “Bundling” is a process in which people turn over a large number of “individual” political contributions as a group, in the hope of exerting greater influence if their candidate is elected.
According to Human Events reporter Catherine Moy, “Evans and her son, a student who lives at her Southern California address, each also gave the maximum individual allowable donation of $2,300 to Obama’s campaign.”
And who is Jodie Evans? A former political appointee of Jerry Brown during his tenure as governor of California and his presidential campaigns, Evans briefly made headlines in 2003 by arranging for women to claim Arnold Schwarzenegger groped them. However, she has kept lower company for the last few years. Her official biography states “her life has been consumed with Codepink: Women for Peace since September of 2002.”
Of course if you’ve read this blog any time at all or just look at the picture, then you know who Jodie’s good friends are.
The friends of Fannie Mae and Freddy Mac in government turn out to be the usual cast of culprits. We have Obama, Gorelick, Johnson, Raines, Dodd, Frank, and the Congressional Black Caucus who all fought reforms even though this speech in 2005 clearly indicated they were needed. McCain was campaigning for reforms (see enough is enough) but they were beat down.
The real impact of all of this will be felt by the taxpayers, the thrifty, those who have thought of their future and saved. This will impact your pension, your 401K, your life savings. Meantime Jamie Gorelick, Democrat operative, is waltzing away with 26 Million. Special shame should also be attached to the Republicans who assisted the lobbyists and Democrats who fought these needed reforms, and we will be hunting those names down in the future as well.
Meantime this is definitely not leadership, this is definitely not change, it’s despair:
Lawmakers say they are unlikely to take action before, or to delay, their planned adjournments — Sept. 26 for the House of Representatives, a week later for the Senate. While they haven’t ruled out returning after the Nov. 4 elections, they would rather wait until next year unless Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke, who are leading efforts to contain the crisis, call for help.
One reason, Senate Majority Leader Harry Reid said yesterday, is that “no one knows what to do” at the moment.
At a campaign rally in Elko Obama had this to say:
“I will crack down on predatory lenders — who all too often target the African-American community, target the Hispanic community — with tough new penalties that treat mortgage fraud like the crime that it is,” he said.
Obama and his compadres in the Democrat caucus have been “cracking down on predatory lending” since 2000 1990′s, and that’s exactly what has led to this mess. They systematically took away the profit from high risk loans, making it a losing, giveaway business backed by your tax dollars. They cut options to have high risk loans credit insured and rolled into loan cost, which led directly to increased foreclosures.
A visibly annoyed House Speaker Nancy Pelosi rejected suggestions that Democrats share blame for the meltdown. “No,” she snapped at reporters who dared ask.
Stick to our narrative, she scolded: The bursting of the housing bubble was another story of market failure and deregulation.
“The American people are not protected from the risk-taking and the greed of these financial institutions,” she said, while calling for investigations of the industry.
Only, the risk-taking was her idea — and the idea of all the other Democrats, along with a handful of Republicans, who over the past 30 years have demonized lenders as racist and passed regulation after regulation pressuring them to make more loans to unqualified borrowers in the name of diversity.
They were the ones who screamed — “REDLINING!” — and sent banks scurrying for cover in low-income neighborhoods, where they have been forced to lower long-held industry standards for judging creditworthiness to make the subprime loans.
If they don’t comply, they are threatened with stiff penalties under the Community Reinvestment Act, or CRA, a law that forces banks to make home loans to people with poor credit risks.
Here’s an example of one of these shakedown programs that started way back, under guise of fighting predatory lending Chuck Schumer and Jesse Jackson fight to have Freddy and Fannie lower standards:
Also from IBD :
The [CRA] revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages. The changes came as radical “housing rights” groups led by ACORN lobbied for such loans. ACORN at the time was represented by a young public-interest lawyer in Chicago by the name of Barack Obama.
Barack Obama is the second biggest recipient of Fannie Mae and Freddie Mac money during the last ten years, and he’s only been in Washington for four years… is this Change, or the same old corruption? Story at Little Green Footballs.
Recent stories have him raising 66 Million dollars in August — so just who else bought Barry? It’s time to follow the money.
With the questionable home deal with convicted Felon Tony Rezko, and the several years he spent working for “affordable housing” as a community organizer he can’t claim ignorance on what’s going on in financial markets today.
Many of these bad loans bundled together into bad investment vehicles are what’s causing the problems we see now. They came as a result of community outreach and community organizers who crafted programs with banks to lower loan approval hurdles to “disadvantaged borrowers.” Good fiscal practice is just that, so the banks who went overboard on these programs are the ones feeling the pinch now.
Also note that the former CEO of Fannie Mae, who engineered the community outreach defaulted loans debacle is now Barack Obama’s favorite housing advisor. Is this surreal, or just a big freaking coincidence? Did he warn about the earnings mistatement in 2006 because he knew of all the bad loans in system before he left, or because he made an educated guess? You decide.