Saturday, October 25, 2008

It's the economy stupid! How the Democrats, Barack Obama, and ACORN initiated this economic crisis and hindered regulation called for by Republicans

I must admit that my family had always voted Democrat like many Catholic families. But the Democratic party is no longer the party my ancestors supported. They have become the party of death. Setting all that aside, I have other reasons why I cannot support Democrats and it has to do with economic ideals, as well as my thoughts about how judges should function, which does not include legislating from the bench.

I voted for the first time when I reached voting age and Reagan ran for office. I proudly pulled the Republican switch, breaking that long standing tradition. And, so did my family. We were Reagan Democrats. We did it mainly because we were pro-lifers and little did we know how the Republican Ronald Reagan would yank us out of a nasty economic crisis in the eighties. He knew it couldn't be fixed with big government spending and more taxes and so does John McCain.

I can tell you that if I set aside entirely, the culture of death ideals of Barack Obama, which I cannot, I would still vote for McCain on the basis that his economic plan is the kind that can get us out of this crisis. There are some videos worth watching if you want to see just how deeply the Democrats were in getting us to where we are now and we ought not put them in charge now.

If you are thinking of voting for a Democrat, I would ask you to watch these videos carefully. It's about the current major crisis. Don't cloud judgement with any other issue if you are concerned with getting out of this mess because if we end up with a Democratic super majority in Congress along with a Democrat for President, there will be an entire pack of wolves watching the economic henhouse. And, don't think for a minute that with such a Democratic slant we will get an honest and fair investigation into "how we got here". It will be easy for the truth to get swept under the rug without checks and balances in Congress, as easily as Barney Frank and company are trying to spread blame like peanut butter in order to absolve themselves of any wrongdoing.

In this first video, you will see the Clinton administration at work explaining the kind of "loan affirmative action" that was being given to us. The man makes the case for giving unqualified people home loans. In the same video, you will see ACORN and Barack Obama's involvment in forcing banks to give loans to these folks. That's right - the same ACORN that is under investigation for voter registration fraud in multiple states. And, the same organization which has publicaly backed Barack Obama while receiving large sums of US tax dollars.

Typically, the Republicans are against regulation while the Democrats are in favor of more regulation. It is one of the key differences between Democrats and Republicans. However, Republicans smelled a rat years ago and started begging for regulation of Fannie and Freddie, only to have it blocked time and again by certain Democrats. These video clips were from some years ago, but today we now know that many of these folks received large sums of money which was a conflict of interest. How could they accept regulation of Fannie & Freddie when they would be affecting their own pockets? Watch this....

Who received the most money from Fannie & Freddie? Watch this video where the Dems are called the "Family & Conscience" of Fannie & Freddie and it is followed by a newsclip from John Gibson which reveals the top three benefactors of funds from the two companies. No wonder the Democrats didn't want regulation. Certain news organizations have not been reporting this info to the general public. If Obama gets into the presidency, it will be like the fox guarding the henhouse.

Te Deum Laudamus! Home

The obedient are not held captive by Holy Mother Church; it is the disobedient who are held captive by the world!


Afro Seminarian said...

I think we can all aggree that there is enough blame to go around. I find it amazing that we have a president that has taken this country to war, over saw the biggest tax breaks given to the riches people in this country,and has supervised the complete meltdown of our fanicial system has not been critisized in this blog. Lets lay the blame where it belongs, at the feet of the Current president of the United States. George W. Bush

Diane M. Korzeniewski said...

Afro Seminarian said, "I think we can all aggree that there is enough blame to go around.

No. I don't agree at all. Diffusing blame by spreading it around is a way to just sweep the problem under the rug where it can come back again. We will not have learned from the experience.

Facts cannot be blown off. People on both sides of the aisle have admitted that this current economic crisis has everything to do with sub-prime lending practices.

Carter gave us the Community Reinvestment Act in 1977. Clinton expanded it during his term. That is what is shown in the first video - a member of the administration defending "loan affirmative action". Enter ACORN which strong armed banks into giving loans to people who didn't qualify. Read more in The Financial Mess:How we Got Here

I find it amazing that we have a president that has taken this country to war, over saw the biggest tax breaks given to the riches people in this country,and has supervised the complete meltdown of our fanicial system has not been critisized in this blog. Lets lay the blame where it belongs, at the feet of the Current president of the United States. George W. Bush

More nonsense. I'm "Diane the Designer". I'm not rich and I got a tax break from George W. Bush. I will lose that tax break if Obama is President and lets it expire as will others in the middle class.

You claim to be a seminarian. I would just like to ask you a question. Do you feel the 48,000,000 aborted unborn babies and the millions aborted daily are less human than the several thousand soldiers and innocent civilians who have died in the Iraq War? In all your internet comments and postings have you ever been an advocate for those millions who are attacked in the womb?

I ask this because you have twice defended Barack Obama, previously with the seamless garment theory, which you nearly raise here again.

Cardinal Ratzinger, in his letter to US bishops in 2004 stated:

3Not all moral issues have the same moral weight as abortion and euthanasia. For example, if a Catholic were to be at odds with the Holy Father on the application of capital punishment or on the decision to wage war, he would not for that reason be considered unworthy to present himself to receive Holy Communion. While the Church exhorts civil authorities to seek peace, not war, and to exercise discretion and mercy in imposing punishment on criminals, it may still be permissible to take up arms to repel an aggressor or to have recourse to capital punishment. There may be a legitimate diversity of opinion even among Catholics about waging war and applying the death penalty, but not however with regard to abortion and euthanasia.

With regards to George Bush, he has been getting a real raw deal on the economy. The President doesn't set the economy, but the economy is affected by regulations or lack thereof where needed (such as Fannie and Freddie being out of control).

There have been numerous tapes released of key Democrats defending the Community Reinvestment Act and giving loans to people who never should have gotten them. Now, we have large sections of communities with homes in foreclosure and an economy on the verge of collapse. Gas prices went up putting a squeeze on people who were in houses that were far beyond their means. They couldn't make their house payments and lost their homes. Fewer people spending money meant more layoffs because businesses have not needed to produce the same volume.

Republicans have tried in every step to bring regulation to Fannie and Freddie. George Bush tried to reign them in. Those efforst were blocked. McCain co-authored a bill to bring them under control, but couldn't get the votes to take it forward. Who refused to vote with it - Democrats. Barney Frank (D) is on tape saying, "there is no problem at Fannie and Freddie". Republicans were called everything but racists for trying to bring control to those institutions because people who couldn't afford loans would not have been able to get them the same way if regulated.

Chris Dodd (D) was the number one recipient of money from Fannie & Freddie. Barack Obama was #2.


This is not rocket science.