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Coulter on Bailout Lies -- "Social Justice" Obamination

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Uploaded by on Oct 4, 2008

The MORTGAGE MESS (a 4 step fraud):

Step 1. "Redlining" -- Spawn GSEs (like Fannie), faking outrage over lenders NOT lending money to those who can't repay.

Step 2. "Community Reinvestment Act" -- alter FEDERAL LAW so "community organizers" (like ACORN & Greenlining) dictate lending practices to lenders.

Step 3. "Predatory Lending" -- Fake outrage over lenders having lent money to those who can't repay, as the toxic debt collapses.

Step 4. Call it "deregulation", and blame others.
***

DEMOCRAT PARTY = FASCIST PARTY

Democrat race hustlers and class warfare mongers bred this trillion-dollars nightmare with calls for "social justice", and accusations of "redlining".

The Democrat fascists established federal laws like FFIEC CRA & granted "community organizers", like ACORN & Greenlighting, authority to dictate race-based lending practices to lenders. In conjunction with their other Affirmative Racism laws, the Democrats thereby intimidated lenders into ABANDONING sound lending practices. This "Obamination" quickly spread to all sectors of borrowers, so that, e.g., white Liberals tried to get rich off of it, too.

Even today, Obama calls for "social justice" to expand such corrosive policies to other industries. Yet, Democrats are blaming those who warned against such fascism, while imbecilic Republicans keep trying to be polite and low key.
***

LINKS:

THE MELTDOWN'S ACORN
http://www.nypost.com/seven/09292008/postopinion/editorials/the_meltdowns_aco...

The Real Culprits In This Meltdown
http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709

Barney Frank's Fannie and Freddie Muddle
http://www.usnews.com/blogs/sam-dealey/2008/09/10/barney-franks-fannie-and-fr...

Politicians Use Bailout to Grab More Power
http://www.smartmoney.com/tradecraft/index.cfm?story=Politicians-Use-Bailout-...

Bailout Bills, Illegal Aliens, and Weird Lending Practices
http://www.openmarket.org/2008/09/24/bailout-bills-illegal-aliens-and-weird-l...
"
When I and my wife, a legal alien, bought our house, the mortgage company told me that if my wife were an illegal alien, rather than legal, we would have qualified for certain loan programs with big banks.
"
-- www . openmarket . org

The Diversity Recession, or How Affirmative Action Helped Cause the Housing Crisis
http://www.takimag.com/site/article/the_diversity_recession_or_how_affirmativ...
"
...Democrats had gleefully been using this justification to funnel vast sums of mortgage money to their base voters among minorities through the liberal-dominated quasi-state institutions Fannie Mae (once run by former Obama adviser Jim Johnson) and Freddie Mac and via leftwing NGOs such as ACORN (to which Obama had long and close ties).
"
-- www . takimag . com

Bailouts will lead to rough economic ride
http://www.cnn.com/2008/POLITICS/09/23/paul.bailout/index.html

Bailout Bill Drafted by Senator Dodd Is a Scam on Taxpayers to Bankroll Left-Wing Extremists
http://www.openmarket.org/2008/09/26/bailout-bill-drafted-by-senator-dodd-is-...

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Uploader Comments (TylerNull)

  • it's amazing, Republicans destroy the economy, and some how because they are voted out it's the democrats fault? This is astounding.

    No conservative president has left with more money then they got in.

  • "...destroy the economy...." -- how?

    Fannie Mae -- FDR

    Community Reinvestment Act (CRA) -- Carter, Clinton.

    Forcing banks to lower their lending standards -- Democrat party platform; Barney Frank & Chris Dodd, and ACORN backed by the Clinton-modified CRA.

    Democrats ferociously defended their federal mandates that forced banks into suicidal lending practices, and attacked anyone who dared to notice, such as President Bush's economic adviser, N. Gregory Mankiw. And that was Bush's FIRST year.

  • Fannie and freddie did not cause the subprime mess. the word subprime denoted a loan that was below the standards of the GSEs and the majority were issued before the GSEs got invovled in the subprime markets.

    CRA had an effect, but contraty to what you claim, it alleviated the problem..

    etc. The republicans are and have always been the true fascist party.

  • Even if your claims held merit, which they don't, your logic is that a single bullet can't kill you because the other 99% of you will be bullet-free.

    Also, from FDR's fascist programs, onward, the government nationalized the home mortgage market. Democrats, from Carter to Clinton, aggressively increased the scope, authority and enforcement of their ever expanding mandates. ACORN types BOASTED on their web pages of the banks they forced to submit to their suicidal lending practices.

  • None of your claims have any merit. First of all, it is unlikely that CRA and the GSEs started the subprime mess, because it doesn't fit the known facts. And, you don't need the GSEs or CRA to explain why the subprime bubbles were formed. Securitization, unaccountable middle men (brokers), and bad lending standards can explain the subprime frenzy as everyone believed they could pass the hidden losses to someone else and keep the profits. CRA regulation reduced predatory lending and subprime.

  • The "known facts" are the federal gov't began nationalizing the home mortgage industry with FDR; that their ever expanding mandates forced lenders to abandon sound lending practices; that race hustlers led the charge; that under the happy-sounding slogan of Affordable Housing, such fascism turned a $150,000 house into a $500,000 house; that implicit gov't guarantees allowed levels of leverage otherwise unobtainable.

    Oh, and you misused "Predatory Lending". You meant "Red Lining".

Top Comments

  • No we didn't. I know why you don't want to have this conversation. How in the WORLD does NBC benefit from pushing an overtly "leftist agenda?" I'd just love to know that.

    Who owns NBC? General Electric.

    Is it in the best interest of General Electric to put forward a leftist agneda, or is it RATHER in General Electric's best interest for everyone to think that the mainstream media is entirely leftist in order to get people to "rebel" by calling for more conservativism in general?

  • I get it.

    You'd rather dismiss my observational analysis and my thought-provoking question, which effectively pokes a HUGE hole in the idea of the idea of the "liberal media," as "anti-logical" than actually engage the analysis & answer the question.

    So fine. Let's pretend leftists comprise 99% of the media, and let's also pretend that these leftists are promoting a leftist agenda.

    HOW do the corporations, who own the media, BENEFIT from promoting that agenda?

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All Comments (137)

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  • Minority home loans to minorites who had no assets, no education, no previous equity in anything, no job, no source of income to speak of, no hope in 100 lifetime's of paying even so much as a dime of any of it back and who wouldn't qualify for even the smallest of loans on their very best days...but it was "racist" not to give them the money. So they bought the homes that they couldn't afford with money that they didn't qualify for with no money down and they lost them just as fast.Surprising.

  • @Bellator656 I suppose the trillions of money from federal reserve via fannie and freddie didn't encourage securitization at all.

  • @Bellator656 Right but you forget that F&F bought trillions in these bundles to meet their own low income lending requirements. Trillions in liquidity that the market would never have provided.

  • @Bacchant33rd You seem to think that a "corporation" is so completely incompatible with a leftist government that the former would never advocate for the latter. This simply isn't true. Socialism is for everyone but the men at the top, and, like the top people in government, the big time executives at these corporations would not see their lifestyles change much under socialism. You seem to think that GE and the government aren't the same thing. Wake up.

  • @Bellator656 The government explains away the subprime mess by blaming the lenders, but the lenders wouldn't have created the loan products if they couldn't offload them to someone else. The GSE's backed these products. That's a fact.

  • Great vid

  • @sonoflasalle You're just an Obama drone repeating media talking points, with no critical thought whatsoever.

  • liberal democratic political preference which created this disaster. THAT IS THE TRUTH! It can not be refuted! Goodbye Democrat majority in Congress.

  • Anyone who knows anything about what caused the housing crisis is AWARE that it all goes back to political correctness. They had to lower the standards to create more "diversity" (defined by skin color and people who aren't "white") in home-ownership.

  • Ameritards cannot even take responsibility for their own financial mistakes, Big Brother will come in and save them. You buy a house that puts a big strain on your monthly budget, then, you go out and buy a bunch of junk with a credit card, then, you get a heloc so you can go out and buy more junk. Why has this society lost all discipline, because they can rely on Big Brother to bail them out.

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