Posted by Tina
More and more people are beginning to suggest that the Flea bagger protesters of the OWS movement should focus their attention on Washington DC. My take is they should concentrate their efforts on certain Democrats in particular.
This assertion can be backed up with some figures that are pretty damning for our spread the wealth representatives in government. According to data mined from a former Fannie Mae chief credit officer, and reported byInvestors.com, government is responsible for 71% of the toxic loans that poisoned the investment pool and caused the financial meltdown:
But based on the number of toxic loans in the system in 2008, the government was responsible for not just a simple majority, but more than two-thirds. It’s quantifiable — 71% to be exact (see chart). And the remaining 29% of private-label junk was mostly attributable to Countrywide Financial, which was under the heel of HUD and its “fair-lending” edicts.
To be fair, the blame-Wall Street narrative has cemented in the public consciousness, and is hard to crack. That’s because in the wake of the crisis, the Obama White House and Pelosi-Reid Congress engineered a cover-up of Washington’s role in the mess through the Democrat-led Financial Crisis Inquiry Commission. The national media now defer to it as the final authority on what caused the crisis and ensuing recession.
The chart breaks it down like this:
Fannie/Freddie 12.0 Million
FHA 5.0 Million
HUD 2.2 Million
Wall Street (Mostly Countrywide Financial) 7.8 Million
Democrats can spin and spin and spin but the truth is there for anyone to see. This administration, meanwhile, has only made matters worse for most Americans with more spread the wealth spending.
It’s definitely time for new leadership in Washington DC.
Excellent post Tina.
Sadly, the OWS mob will most likely continue to ignore the facts and serve as useful idiots to Democrats, Communists, Nazis, Anti-Semites, and who ever else may come along to pander to their narrow believe system and inaccurate world view.
The whole world is watching.
“More and more people are beginning to suggest that the Flea bagger protesters of the OWS movement should focus their attention on Washington DC.”
Danged if you haven’t put your finger right on the difference between the two movements, why the one has fizzled, and the other … well … we’ll have to see.
From the OWS persective, our government exists to protect us from the excesses of Wall Street, but lately, like the last 30 years or so, it hasn’t been doing a very good job.
The Tea Party … I have still yet to hear any sort of plan from them that is not bogus on its face. Do nothing? Let the big banks fail? Well, we could do that certainly. But I did think the object was to AVOID the Second Great Depression?
The current debacle unfolding in Europe can also be laid squarely at the feet of a very tiny handful of capitalists, who repeatedly do damaging things for money, rather than productive things for the greater good.
They’re no better than any other criminals and, somehow, we must move our government to take them into custody.
The other problem with our government is that, cause it don’t pay quite as well as Wall Street, we tend to get mediocre help.
As I understand it, the agencies you name guarantee home loans; they don’t make them. This all too frequently manifested in purchasing packages of discounted loans from lenders like Countrywide.
And of course, guaranteeing bad loans is something that a mediocre chief credit officer might do.
But you’re never going to be able to wrest the blame for this mess off the shoulders of those unrestrained capitalists.
I wonder how they feel about Obama fisting the tax payers by spending our tax dollars on jobs in Finland? I know this is not on point but I wanted to make sure it got out here. On the other hand the rent a mob does not seen to have a point so this works.
Libby: “why the one has fizzled…”
You judge the TP people by a book cover of your parties design. We don’t fit that moldy old progressive template. Hippy dippy chants, silly songs and holding hands, filth left in the streets, disregard for the rights of others, megaphones filled with threats and whining, angry or solem victim faces…and absolutely NOTHING TO CONTRIBUTE…just more gimmie, gimmie, gimmie.
The Tea Party has not fizzled…it just prefers quality and dignity to degredation and incivility. It prefers to use the process that we, as free people, have been given rather than civil disobedience and childish temper tantrums.
In addition, the TP knows that government cannot produce wealth or a thriving economy. It can only take or spend money. The TP knows government has been lousy as administrators of the people’s hard earned money. And it also knows that government is the cause of the mess in which we now find ourselves.
The fools at OWS still think someone else owes them a living.
“I have still yet to hear any sort of plan from them that is not bogus on its face…”
That is a lie on its face. The TP suggest CUTTING SPENDING AND LOWERING TAXES. There is historical evidence in both democrat and Republican administrations that these two things stimulate the overall economy and create more revenue for government. Some TPers also want to utilize ALL of America’s energy sources and get rid of the absolutely disasterous healthcare plan known as Obamacare.
The Republicans in Congress have also submittes budgets and suggested ways to cut spending and pay off debt…Democrats in Congress and President Obama continue to LIE about it to this day.
“But I did think the object was to AVOID the Second Great Depression?”
That was the story. The object was to spread the wealth around and funnel as much money as possible to public sector unions, certain private sector unions (GM),and special friends in the green industry (Solyndra). The scheme was part pay back for 2008 support and part money laundering operation for 2012.
NOTHING this administration has done had a prayer of stimulating the overall economy which is what absolutely MUST happen if we are to put MOST of the people back to work. INstead we have high unemployment (much higher than is reported), inflation, greater debt, another expensive entitlement program, and a number of industries being specifically targeted for punishment.
It’s the most pathetic performance I’ve ever seen. Yesterday it was reported that the Carter “misery index” has now been topped by this president.
“…The current debacle unfolding in Europe can also be laid squarely at the feet of a very tiny handful of capitalists”
An absolute LIE. It can only be laid at the feet of Jimmy Carter, Bill Clinton, Barney Frank and Chris Dodd. I’m sure that there were many other players who made out like bandates by cooperating in the scheme to make loans to people that couldn’t pay for them. These TOXIC loans poisoned the investment pool and caused a world wide crisis. Democrats should be frying for this absolute failure of trust and responsibility to the American people. I’m disgusted that the media and people like you cover for them with outrageous and unfounded accusations.
“They’re no better than any other criminals and, somehow, we must move our government to take them into custody.”
Spoken like the true Marxist/fascist/socialist that most progressives are…you still haven’t got a clue. Government, particularly progressive government is incompetent, ignorant, wasteful and arrogant.
Re Libby’s:”From the OWS persective, our government exists to protect us from the excesses of Wall Street, but lately, like the last 30 years or so, it hasn’t been doing a very good job.”
Get a clue, girl, open your eyes. The government prescribed the subprime blowout. Banks and Wall Street simply bended to government demands and then tried to window dress them so they could sell packages packed with bad loans the government dictated they make.
Libby: “As I understand it, the agencies you name guarantee home loans; they don’t make them. This all too frequently manifested in purchasing packages of discounted loans from lenders like Countrywide.”
The rules put in place by Carter and then Clinton FORCED lenders to create the bad loans. The dumb s*#%# don’t have any business sense; they live in an unreal world where all you have to do is pass legislation to create a perfect world. This giant sized spread the wealth scheme would all work out, in their minds, because they could be backed by the federal government. They didn’t bother to look a few years down the road. If they had they would have seen that they were creating a financial TOXIC WASTE DUMP that would crash the world’s economies. These ignorant, arrogant SOB’s think they have the power to make everything fair and they pat themselves on the back and cover their own asses with lame excuses.
There was also NO federal oversight. And Dodd and Frank were warned repeatedly that something had to be done and they wouldn’t hear it. Government failed at every turn.
We have also informed our readers about the many democrats that made big bucks or got special treatment in this deal. One made a cool 9 Million in bonuses over a few years at Fannie. Other got high profile, big salary jobs or special deals on financing of personal property.
“…you’re never going to be able to wrest the blame for this mess off the shoulders of those unrestrained capitalists.”
Capitalists were doing what capitalists do…attempting to make money in a given area.
Government created the toxic condition, failed in it’s oversight duties, and most importantly failed in its fiduciary responsibilities to the American people.
56% of the voting public blames government for the financial crisis.
Progressive blame banks and Wall Street for the same reason they elect the Barney Franks, Bill Clintons, Chris Dodds,et al…they want other peoples money and they want control…and they don’t want to have to do anything to get it.
But, the plan? Where is the plan? All I’m gleaning from your posts is: “Do Nothing”.
That will finish the government, your movement, and just about everything else.
You don’t want the rabble camping on yer lawns. Trust me, you don’t.
Libby: “But, the plan? Where is the plan?”
This from the woman who voted for “hope” and “change”.
“All I’m gleaning from your posts is: “Do Nothing”.
Then you aren’t reading with the intention to get.
“That will finish the government, your movement, and just about everything else.”
Yeah, because without government to prop them up people are just lifless lumps of useless goo.
“You don’t want the rabble camping on yer lawns. Trust me, you don’t.”
That isn’t a threat I’m sure…just more consequence born of the fantasy that business people don’t know how to create wealth, jobs, and a thriving economy but central planners in government do.
The “rabble” are parking on lawns, yawning in parks, and puking for larks because of the government whether they know it or not.
Links to Republican “plans”:
http://republicanwhip.house.gov/jobs/
http://www.gop.gov/indepth/jobs
Might I remind you that the Harry Reid Senate has not submitted a budget for two years and has stonewalled and lied about Republican efforts to contribute ideas for recovery.
The Democrat record in DC sucks…period.
“This from the woman who voted for “hope” and “change”.”
Huh-Uh. No. This is not about me.
I’m sorry Tina, but Cantor’s “plan” amounts to “do nothing” … or, actually … “savage the tax base and put another couple million public sector employees out of work”.
I really don’t think this will help.
Tina,
Libby will never get it. She is only interested in bashing Wall Street, not holding the government accountable for its part in instigating and contributing to the subprime crisis, and misrepresenting Republicans and Tea Party members with half-baked word bites.
The saddest thing is that ignorant and obstinate demagogues like Libby sometimes actually vote.
But she does make a pretty good sideman/foil.
What is it with with the liberal mindset, they attack every positive thing that fuels their ideology. Without the aid of free enterprise and capital involvement the OWS protesters would have packed it up awhile ago. When will the PC liberals finally realize they need to participate productively in a capitalist society verse destroying the very foundation. Do they not willing accept that non profit welfare that fuels them created through free enterprise and capitalism. Why do they not acknowledge our Government gets that money from the very foundations they protest. We taxpayers at present do not have a strong enough voice in deciding where our money is being spent, based on polls if we did , welfare would be cut off to Illegals, earmarks to questionable activist groups and foreign aid all would be gone. And the result of that, Politicians (All of Them) might have to campaign on what they can productively govern for Americas growth, and not not just give money to special interest PAC groups and unions in exchange for their votes they can produce. Tea Party influence has just begun to eliminate a out of control group of spenders in congress, and Americans have the Tea Party to thank for that. Useful use of Tax dollars are needed here in the States, not foreign aid to the likes China, who loaned us that very same aid money to begin with, which we give back to China and pay them interest on it to boot! It is not Wall street by itself, they have been added by poorly legislative government programs, and as of late a socialist Political mindset as well as a inept or corrupt Congress (you decide) we have to contend with. Now combine that and Obama and his anti business like agendas, it only makes it that much worst with Obama’s programs that have failed one after the other. Banks, Big business and a cobbled together heath programs, and what has all this accomplished other than more government regulation/control. My opinion,the OWS group is a diversion tool aligned to reelect Obama. (Consider the use of the word ‘occupy’ which is a derivative of ‘sedge’ or ‘to take’). Obama needed to take the spotlight off of his failing administration, while trying to re-muddy the water that the Tea Party has begun to purify. Voters are seeing through this diversion and plan to vote to correct the mistake they made in 2008
Libby: “Huh-Uh. No. This is not about me.”
Wrong Libby. It is exactly about you and all of the other progressives who voted for Obama and the Dems. ALL of their plans are a complete failure…many have caused the biggest financial meltdown in history. It is about people like you who refuse to understand how the free market works, how government intervention in the market pollutes and poisons, how entitlement programs create an unsustainable dependency society, and how class envy ignores the source of problems. It is also about how class envy believers are idiot tools of big government politicians who use it to retain power.
“Cantor’s “plan” amounts to “do nothing” … or, actually … ‘savage the tax base and put another couple million public sector employees out of work’.”
Public sector jobs cannot be sustained by an imaginary money tree…they can be sustained by a thriving private sector. Cantors plan will create a spark in the private sector, increased business and profits will create growth and jobs, the tax base will grow, and government will realize more revenue without punishing anyone. Jack kennedy could understand this even if you cannot!
By contrast, the hope and change record is out there for all to see…it cannot be ignored. Public sector jobs are being lost because hope and change doesn’t work. Some of those jobs have been temporarily “saved” over the last two years with federal bailout money (debt)…a stupid policy that any fool can see is not a long term solution. Revenues are down because…taxable income is in the toilet…because business is crippled and on life support…because Obama’s plans are HOSTILE to the private sector. Overall unemployment is much higher than reported. Need more proof that progressive policies SUCK? Look at the fiscal condition in states run by Democrats.
“I really don’t think this will help.”
None so blind as they that will not see…or learn from history.
Harold and Pie thanks for the wonderful support on this issue.
Does it occur to anyone that conservatives have a lot more respect for the so-called have nots than do progressives?
Progressives only feel sorry for the less fortunate. They approach them with low expectations as if the have nots must be “kept” for their lack of ability to care for themselves. They ignore the contribution that their own ideals and policies have made to our growing populations of needy, noncontributing citizens. Failing schools are excused, bad teachers protected. Insane welfare rules break up the family and destroy neighborhoods. Loose morals encourage drug abuse and promiscuity which lead to unwanted babies who are often left to raise themselves on the atreets. The few people who are actually helped by this broken system cannot possibly justify keeping it in its current form.
Throwing more of other peoples money at these problems has not and will not work. It will only make things worse for all of us.
The Obama presidency has made this failed, spread the wealth policy abundantly clear!
A healthy America would be one in which 99% of its citizens is well educated and trained to become productive and responsible citizens. Self-dependence, self-interest, and a charitable heart is the road we want to travel to get there.
Re Harold’s: “When will the PC liberals finally realize they need to participate productively in a capitalist society verse destroying the very foundation.
and
Need more proof that progressive policies SUCK? Look at the fiscal condition in states run by Democrats.”
When? Never. They are a lost cause.
Facts never got in the way of a left wing liberal’s ideological fantasy world.
Re Tina’: Libby: “Huh-Uh. No. This is not about me.”
Wrong Libby. It is exactly about you and all of the other progressives who voted for Obama and the Dems. ALL of their plans are a complete failure…many have caused the biggest financial meltdown in history. It is about people like you who refuse to understand how the free market works, how government intervention in the market pollutes and poisons, how entitlement programs create an unsustainable dependency society, and how class envy ignores the source of problems. It is also about how class envy believers are idiot tools of big government politicians who use it to retain power.
EXACTOMUNDO! I wish I had said that. I bow to Tina’s superior tolerance, tenacity, and ability to tell it like it is. You go girl! 🙂
Thanks Pie … I’m in for the duration!
“ALL of their plans are a complete failure….”
Not a complete failure … the Second Great Depression has not yet arrived.
And you still have nothing better than “stimulous” to offer.
Libby, your man Obama was in the back pocket of monied special interests before he even took the oath of office…for Senate. He really conned you if fell for the Hope and Change thing knowing he had no specific plans for anything. However, the old saying Hell hath no fury like a women scorned may be his undoing. You a few million other women voters are really angry at his chauvenist attitude and his sellout on his many campaign promises, this surely going to haunt him in 2012.
Actually, the second great depression has already arrived as stimulated by American socialists represented by Obama and the Democratic party. Add to that the bankruptcy and failure of socialism in Europe and you have quite a force driving depression.
Look at the state of the State of California. It is a case in point. It is a paradigm of everything that is wrong with the Democratic party.
The second great depression has all but been announced. Fearing the announcement will drive the economy into further despair and serve to increase already skyrocketing unemployment, politicians of all stripes demur.
“It is exactly about you and all of the other progressives who voted for Obama and the Dems.”
Well it would have been, if, the second he got elected, Obama hadn’t tucked himself in at the table with Geitner, Bernanke, Summers, et al., wrote the clowns who got us into this a pass, and turned that Wall Street pack of jackals loose in pursuit of the next big buck.
That this should leave your children unemployed is nothing to wonder at. The only wonder is why are you complaining?
McCain would have done exactly the same thing.
Come on. Explain yer freakin’ selves.
What are you sniveling about?