Faith and Facts

I wrote a lengthy post on this top yesterday but Investor’s Business Daily has expanded and improved on my material.

Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it’s dysfunctional, Democrats during the Clinton years are a prime reason for it…

[I]t was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.  Read more... (estimated 1:26 mins)

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Filed under: Democrats, Economy, Obama

What do Chris Dodd,  Barney Frank, Jim Johnson, Franklin Raines and Tim Howard have in common (besides being engineers on the Barack Obama Election Express)? I try not to just scrape the content of other sites but Mcauleys World has a great article with info that is essential for everyone to know.

Five Key Players In Washington who had chances to prevent the Financial Crisis but who, by their actions or inactions helped to bring down Wall Street.

Senator Christopher Dodd

Democrat from Connecticut. Dodd has been in the Senate for 28 years. Dodd has served as Chairman of the Democratic National Committee. Dodd is Chairman of the Senate Banking Committee. As Chairman he had responsibility for acting as a “watch-dog” of Fannie Mae and Freddie Mac. Dodd has responsibilty for assisting in the selection of the CEO’s who run Fannie Mae and Freddie Mac.  Dodd was a leading contender to be Obama’s Vice Presidential selection until his receipt of VIP loans from Countywide Financial were disclosed.

It has been reported that Dodd received $7,000,000 in loans from Countywide. Dodd’s Committee was responsible for overseeing Banks in the United States. Countrywide is one of the leading culprits responsible for the lending policies that brought on this Crisis. Countrywide is under FBI investigation for securities fraud. The Government Watchdog Group, The Center For Responsive Politics, reports that Senator Dodd received more campaign contributions from Fannie Mae and Freddie Mac than any other Senator.

Popularity: 8% [?]  Read more... (estimated 6:35 mins)

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Filed under: 9/11, Economy, Obama, politics, Terrorism

The Federal Government is going to bailout AIG and Fannie/Freddie. This is nightmare. Is this even legal? President Bush, McCain, Obama, Senators, Representatives have all lost their minds!

It is important to understand exactly what is happening. The government is using your money to buy the bad assets of various companies.  Yes, they are calling it a loan. No, the loans will never be repaid because the underlying assets are not worth anything. How do I know? If they were worth anything the company would not be in trouble in the first place!  Read more... (estimated 1:18 mins)

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Filed under: Democracy, Economy