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The RNC will be issuing complaint to the Federal Election Commission regarding Barack Obama’s small contributions. While Obamabots like Peter like to salt the comments here crowing about how Barack Obama is supported by “small donors,” some are really large donors breaking up their vary large contributions into chunks and breaking campaign law in the process, as well as some who are foreign contributors. So Barack’s funded in a large part by bundlers, large donors, and foreign donors.
From The Trail:
The RNC is alleging that the Obama campaign was so hungry for donations it “looked the other way” as contributions piled up from suspicious, and possibly even illegal foreign donors.
“We believe that the American people should know first and foremost if foreign money is pouring into a presidential election,” said RNC Chief Counsel Sean Cairncross.
Cairncross alleged there was mounting evidence of this, and cited a report in the current issue of Newsweek magazine that documents a handful of instances where donors made repeated small donations using fake names, such as “Good Will” and “Doodad Pro.”
The Newsweek report says that earlier this year the Obama campaign returned $33,000 to two Palestinian brothers in the Gaza Strip who had bought T-shirts in bulk from the campaign’s online store — purchases that count as campaign contributions. The brothers had listed their address as “Ga.,” which the campaign took to mean Georgia rather than Gaza.
No surprises there right? He did come from one of the most politically corrupt cities in the country, Chicago, where [select one: King, Boss, Mayor] Daley rules. [ I personally like “King” best because the rule seems to pass from father to son by divine right or something. ]
Anyway there’s been a mounting story on this in the blogosphere, we’ve seen Phone banks for Barack in the West Bank, we’ve seen strange donors and other things. One example is donor “Pro Doodad” who seems to have made 786 separate donations of 25 dollars that adds up to 19,500 bucks. That’s a lot of doodads folks. Once caught on that, the campaign started refunding the money, but apparently hasn’t finished.
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.