Tag Archives: Mortgage crisis

Obama lies, Mortgage crisis, Unemployment, December 14, 2009, Obama Bankers meeting, ACORN, Democrats, Barney Frank, Maxine Waters, Fannie Mae, Freddie Mac, Obama ACORN and Democrats caused housing and jobs crisis

“ACORN’s alliance with the Democratic Party is at the root of the current financial meltdown. And Barack Obama has stayed true to ACORN’s ways.”…Stanley Kurtz

 

Obama

Lies

Mortgage, Unemployment Crisis

Who is to blame?

 

The lying, SOB, usurper, Barack Obama is meeting with bankers today. Obama is attempting, once again, to coerce banks to lend money to people who cannot afford the loans. Consistent with his trend of lying, he blames the bankers for the mortgage and unemployment crisis.

However, facts and reality are not on Obama’s side.

The Citizen Wells has provided numerous articles on ACORN corruption, ACORN’s involvement in pressuring banks to make risky loans and Barack Obama’s long time ties to ACORN.

An article dated September 15, 2009 is loaded with facts that indict Obama and ACORN.

October 8, 2008 – Straight from the horse’s mouth

“ACORN Report
The ACORN Report is published by ACORN’s National Office and contains up-to-date information. We have ACORN Reports indexed by date and topic available.”

“City Limits February 1999
During its 15 years in New York City, ACORN has helped squatters claim derelict city-owned property, forced bankers to invest in low-income communities, and organized a war against the city’s workfare program.

It’s also developed a reputation for no-holds-barred tactics—getting results through adversarial campaigns against bankers, politicians and bureaucrats using confrontation and concession rather than consensus. ACORN, unlike most social service non-profits, scorns charity. Their goal is to help poor people seize power.”

This comes straight from the Acorn national office.
Note the following:

“Their goal is to help poor people seize power”

October 13, 2008 – Acorn contribution to mortgage crisis

“FOR years, ACORN had combined manipulation of the CRA with intimidation-protest tactics to force banks to lower credit standards. Its crusade, with help from Democrats in Congress, to push these high-risk “subprime” loans on banks is at the root of today’s economic meltdown.””

““Instead, Democrats like Rep. Barney Frank (D-Mass.) and Reps. Kennedy and Waters allied with the Clinton administration to broaden the acceptability of risky subprime loans throughout the financial system, thus precipitating our current crisis.

ACORN had come to Congress not only to protect the CRA from GOP reforms but also to expand the reach of quota-based lending to Fannie, Freddie and beyond. By steamrolling the GOP that March, it had crushed the last potential barrier to “change.”””

““ACORN’s alliance with the Democratic Party is at the root of the current financial meltdown. And Barack Obama has stayed true to ACORN’s ways.””

The Truth about Obama and ACORN

September 28, 2009 – Bank of America and other banks ignored warnings

“Do any Catholics work for Bank of America?
From Catholic News Service October 16, 2008.

“Bank of America takes recent allegations made against Acorn and Acorn Housing Corporation employees very seriously,”
What planet has Bank of America been on the past year?

Is this indicative of the power of the mainstream media?

Was Bank of America controlled by the Democrats or Obama camp?

No wonder Bank of America had financial problems.”

Bank of America ignored warnings

Fox News reports on Obama meeting with bankers, December 14, 2009

“White House Tells Bankers to Boost Lending After Bailout Successes”

“President Obama is calling on the financial industry to help dig the economy out of the pit the White House says it helped create, as the president and bank executives headed into a potentially tense meeting Monday morning.”

“The president set the tone for the meeting in an interview broadcast the night before in which he called Wall Street bankers “fat cats” whom he has little obligation to help. In response, the bankers plan to tell the president to stop oversimplifying their concerns.”

“”What the president’s going to say to the bankers is, you guys were part of the problem, you helped create an economic crisis here that cost 7 million Americans their jobs and now you have to be part of the solution,” White House senior adviser David Axelrod said on ABC’s “Good Morning America.”

Axelrod said the industry has to “accelerate lending to credible small businesses” and suggested Congress would take harsh action against the sector if it does not.

“People are not going to tolerate a situation where the bankers have a party, they pick up the tab and then the bankers pay themselves huge bonuses and they’re not lending,” Axelrod said, adding that bankers should be awarded with long-term stock as opposed to up-front cash bonuses.

The White House also wants Wall Street to fall in line with Obama and back a proposal for a consumer protection agency that cleared the House last week.”

“”He can say what he wants, but we’re not going to go back to the kind of lending that put us in this mess,” said a person who is helping prepare executives for the meeting but spoke anonymously because of lack of authorization to discuss the plans.”

Read more:

http://www.foxnews.com/politics/2009/12/14/obama-slams-fat-cat-bankers-eve-meeting/

I, for one, am fed up with the lies and manipulation coming from the lying SOB Obama and cronies such as David Axelrod. I am asking you to spread this information far and wide. The American people must know the truth.

Obama, McCain, Fannie Mae, Freddie Mac, Mortgage crisis, Banking, Reform, Lobbyists, Campaign contributions, Obama lies, McCain reformer, Federal Housing Enterprise Regulatory Reform Act of 2005

Who is telling the truth, McCain or Obama?

Who is a reformer, McCain or Obama?

Consider this first from a recent Citizen Wells article:

Barack Obama has claimed to be the candidate of change who steers
clear of lobbyists. Once again Obama is lying. One lobbyist
Obama has ties to
is Joe Biden’s son, Hunter Biden. Now we learn
that Obama was the third highest recipient of campaign contributions
from Fannie Mae and Freddie Mac that have just been bailed out
by the government. Here are the top recipients of campaign contributions from Fannie Mae and Freddie Mac, 1989-2008:

Name
 Office
 Party/State
 Total
 
1. Dodd, Christopher J
 S
 D-CT
 $133,900
 
2. Kerry, John
 S
 D-MA
 $111,000
 
3. Obama, Barack
 S
 D-IL
 $105,849

I spoke to Zach of the Zach Jones is Home blog yesterday. He has a new article about the reform John McCain attempted on Fannie Mae and Freddy Mac in 2005. Zach stated that if the reform had succeeded, we would not be in the mess we are today. Here are some exerpts:

“Obama playing dirty politics – John McCain got it right on Fannie Mae and Freddy Mac in 2005, Media is still AWOL
It appears that Sen. Obama and the Media are once again being fast and loose with the “facts”.  John McCain got the current financial crisis right in 2005. John McCain was a co-sponsor on Federal Housing Enterprise Regulatory Reform Act of 2005.  We would not be having this current crisis if Sen. McCain had his way in 2005.  Unfortunately, this measure was blocked. It is disgusting that Sen. Obama is only interested in smearing anyone who is in his way.  And why is the media not reporting this?  The media continues to be completely in the tank for Obama.”
“This is from GovTrack.US:

Record Text

Sen. John McCain [R-AZ]: Mr. President, this week Fannie Mae’s regulator reported that the company’s quarterly reports of profit growth over the past few years were “illusions deliberately and systematically created” by the company’s senior management, which resulted in a $10.6 billion accounting scandal.”

“The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator’s examination of the company’s accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.”

” I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation.”

Read more of this important article here:

http://zachjonesishome.wordpress.com/2008/09/16/obama-playing-dirty-politics-john-mccain-got-it-right-on-fannie-mae-and-freddy-mac-in-2005-media-is-still-awol/

Share this information with those around you. They will not get the truth from the MSM.

If you are fed up with the lies and corruption of Obama, visit:

http://obamaimpeachment.org

Obama, Fannie Mae, Freddie Mac, Campaign contributions, Mortgage crisis, Lobbyists, Truth about Obama, More Obama lies

Barack Obama has claimed to be the candidate of change who steers
clear of lobbyists. Once again Obama is lying. One lobbyist
Obama has ties to is Joe Biden’s son, Hunter Biden. Now we learn
that Obama was the third highest recipient of campaign contributions
from Fannie Mae and Freddie Mac that have just been bailed out
by the government. Here are the top recipients of campaign contributions from Fannie Mae and Freddie Mac, 1989-2008:

Name
 Office
 Party/State
 Total
 
1. Dodd, Christopher J
 S
 D-CT
 $133,900
 
2. Kerry, John
 S
 D-MA
 $111,000
 
3. Obama, Barack
 S
 D-IL
 $105,849
 
4. Clinton, Hillary
 S
 D-NY
 $75,550
 
5. Kanjorski, Paul E
 H
 D-PA
 $65,500
 
6. Bennett, Robert F
 S
 R-UT
 $61,499
 
7. Johnson, Tim
 S
 D-SD
 $61,000
 
8. Conrad, Kent
 S
 D-ND
 $58,991
 
9. Davis, Tom
 H
 R-VA
 $55,499
 
10. Bond, Christopher S ‘Kit’
 S
 R-MO
 $55,400
 
11. Bachus, Spencer
 H
 R-AL
 $55,300
 
12. Shelby, Richard C
 S
 R-AL
 $55,000
 
13. Emanuel, Rahm
 H
 D-IL
 $51,750
 
14. Reed, Jack
 S
 D-RI
 $50,750
 
15. Carper, Tom
 S
 D-DE
 $44,389
 
16. Frank, Barney
 H
 D-MA
 $40,100
 
17. Maloney, Carolyn B
 H
 D-NY
 $38,750
 
18. Bean, Melissa
 H
 D-IL
 $37,249
 
19. Blunt, Roy
 H
 R-MO
 $36,500
 
20. Pryce, Deborah
 H
 R-OH
 $34,750
 
21. Miller, Gary
 H
 R-CA
 $33,000
 
22. Pelosi, Nancy
 H
 D-CA
 $32,750
 
23. Reynolds, Tom
 H
 R-NY
 $32,700
 
24. Hoyer, Steny H
 H
 D-MD
 $30,500
 
25. Hooley, Darlene
 H
 D-OR
 $28,750
 

“Freddie Mac and Fannie Mae, two embattled mortgage buyers that for years have pursued a lobbying strategy to get lawmakers on their side. Both companies have poured money into lobbying and campaign contributions to federal candidates, parties and committees as a general tactic, but they’ve also directed those contributions strategically.”

Read more here:

http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html