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The Obama Files!
I was going to add these articles to my "Asshole Files", but this section deserves a special place all it's own. I think this section will grow about as fast as my anger with this Socialist who is tearing our country apart piece by piece. I once swore an oath to uphold and defend the constitution of the United States against all enemies, foreign... AND DOMESTIC. And I take that oath VERY seriously.
Some Notes on the Current
Financial Clusterfuck
M40 - Monday, February 23rd, 2009, 7:52pm
- Under the Clinton administration, Democrats mandated that banks abandon a
thousand years of proven financial practices, and begin giving loans to folks
who couldn't repay them. Under these Democrat laws, if the banks refused to
comply, they would lose their charter as lending institutions.
- When that system began to fail and the banks were losing money, (rather than
admit they were wrong) the Democrats dumped in BILLIONS of your tax dollars in
order to keep this broken system afloat. They backed up all the bad debts with
“Fanny Mae” and “Freddy Mac”... funded entirely by YOU.
- When more and more banks (and even the tax-dollar backed Fanny Mae and Freddy
Mac) began to have trouble, the Democrats promptly repealed a 75 year old law
(Glass Steagall Act of 1933), thereby allowing them to sell off bad mortgages as
"investment vehicles". Most people's retirements are heavily invested in these
types of funds. Yes, we paid through the nose getting into this mess, and now
all the bad debt is ours as well... all thanks to Democrats!
- Each of the many times a Republican has proposed an overhaul of Fannie
Mae/Freddy Mac to put a stop to this, the Democrats simply went on the attack
and accused them of being "racists". In fact John McCain was villified for
trying to fix this years ago. I wish he had been successful!
- Now that the financial house of cards has come tumbling down, the Democrats
have conveniently placed the blame on George Bush. They further blame Wall
Street, big corporations and banking institutions. Their proposed solution is to
spend VAST sums of YOUR money, and ...of course... MORE GOVERNMENT CONTROL over
Wall Street, the banking system, the auto industry, and most other forms of big
business.
- Their controls are what got us into this mess, and now they're going to take
even more control?!?
____________________________________
"One of the methods used by statists to destroy capitalism consists of
establishing controls that tie a given industry hand and foot, making it unable
to solve its problems, then declaring that freedom has failed and stronger
controls are necessary."
—Ayn Rand, 1975
RETURN TO THE OBAMA FILES INDEX