Obama Invents New Tax

Not only will the Federal Government require financial service businesses to foot the bill for affordable mortgages by writing junk, subprime loans with no income check, nothing down. Not only will there be quotas for unqualified home buyers who can’t pay. Obama has a great new idea, called a Financial Stability Fee. [...]

Get Obama, Government Out Of Business

Since the CRA’s [see Community Reinvestment Act - Carter, Clinton, Obama] inception, in the Carter administration, mortgage banking has been run into the ground – by wrong-headed government regulation.
Subprime, junk mortgages are a result of government forays into business, outside of the bounds permitted by the Constitution. Progressively more intrusive, more obnoxious to business [...]

Greedy Dems Take The Bait – Almost

Greedy Dems like nothing more than $Hundreds of Billions to spread around.
The only skill more absent among Democrats than economics is vote-counting (see any connection?)
The Democrats (including Bush and his loopy Treasury Sec) will buy more votes on Thursday. Earmarks for all.
On Friday, affordable housing for those who can’t pay – will resume, full [...]

Greedy Dems Take The Bait

The greedy dems and progressives in Washington DC have taken the bait. Among these I count our profligate President Bush.
The prospect of spreading $700 billion around liberally was just too seductive.
Public opinion be damned. Applying a band-aid, however extravagant, will scarcely remove the vast tumor that Government Sponsored Enterprises and CRA [...]

Affordable Housing & Subprime Loans = Disaster

What caused the crisis on Wall Street? Must see this.
H/T: Doug Ross @ Journal Video o’the day

Obama Organizes Brownshirt Enforcers In Missouri

Law enforcement officials accross Missouri are organizing to prevent character attacks on the Obamessiah. Truth squads from law enforcement will keep the debate focused on “issues.” Maplewood is a suburb of St. Louis; the enlistment of brownshirts from law enforcement extends into rural areas of Missouri, however.
Via: Moonbattery Obama Truth Squads
[...]

GSE The Curse

Let us never forget the curse of American Government Sponsored Enterprises.
(FNMA, FMAC, and more)
“Under the OUTSTANDING leadership of Mr. Frank Raines, everything in the 1992 act has worked just fine. In fact, the GSEs have exceeded their housing goals. . . . (The affordable housing mission) has seen innovation florish, from desktop underwritting [...]

When History Troubles You, Change It

Shocking video.
Circumvention of rational banking practice was the conception of FNMA and FMAC.
Nothing down, zero interest, you have no income?; affordable housing, guaranteed by government. History some would like to forget.
“We do not have a crisis at FMAC and particularly at FNMA under the outstanding leadership of Mr. Frank Raines” (Maxine Waters, and it [...]

Louis Farrakhan, 2007 Man Of The Year?

Where could this possibly happen?
At Trinity United Church of Christ, Louis Farrakhan was Man of the Year, and winner of the Lifetime Achievement Trumpeteer Award, in 2007. Trinity United Church of Christ is in Chicago. Until a few weeks ago, the pastor there was Jeremiah A. Wright.
“Trumpet,” Rev. Jeremiah Wright’s news magazine, [...]

Obama, Reagan, Study In Contrast

“Of all the millions of refugees we’ve seen in the modern world, their flight is always away from not toward the communist world; rejection of the arbitrary power of the state; the refusal to subordinate the rights of the individual to the super-state; the realization that collectivism stifles all the best human impulses. For [...]