Greedy little Pigs!

Americans, We are at war! it is not the war in Iraq that I now speak of, however, it the one with the man who is trying to become the leader of our free nation. His name is Barack Obama and He's running under false pretenses, hiding relationships and for reasons I'll never understand (perhaps unresolved rage against his absent father?) angry and hateful against anything patriotic, traditional or American. Before you throw your newspaper down in disgust, please humor me by reading on:

Down & Dirty: Under the Carter Administration, the Community Reinvestment Act was introduced to assist families with home-buying, in the hopes of stimulating a stagnant economy. It somewhat worked and things were ok until 1995 when Golden Boy Clinton decided to kick it up a notch by adding massive provisions, like Countrywide not mitigating loan risk using new subprime authorization. These (idiotic) revisions allowed (irresponsible) banks (who should have banded together and balked) to loan one trillion dollars (yes, with a T) in subprime loans to people with shaky credit, which in turn created bad paper (shaky investment securities within those companies) which of course were bought up very quickly, first by Bear Stearns. (which has since then marched swiftly down the path to BK)

Fannie Mae and Freddie Mac made it way too easy then for people, rarely requiring income and penalizing Banks for not complying with their law - and the penalities were huge. Banks mostly complied because the temptation was too great and top executives enjoyed big payoffs. The lawsuit against Citibank was humungo and scared other banks against not complying with the ridiculous, draconian rules.

Housing prices and values rose but eventually so did interest rates, which hurt affordability, clients ability to pay their mortages as well as their capability to turn them into traditional 30 year loans. This shift hurt the housing market, leading to a rise in foreclosures and it wasn't long before the Nation was in full crisis mode. Once Banks began to wobble, Fannie Mae/Freddie Mac shares took a dive and we started to really hear about it on mainstream news (which means, people literally walking out of huge banks with boxes filled with belongings and carrying computer equipment!!) it was too late for anyone to do too much except fingerpoint. (especially Obama on the news ripping on Bush and talking about the 'need for change! well, keep reading my babies!!!) There had been talk for years but the warnings had gone unheeded. Who had been talking? Did you hear anything? I've gone to the grocery store several times over the past couple of weeks and have heard angry neighbors talk about what an 'idiot this President Bush is!!! he's such a doof! we should impeach him!!! ' Well, wait up folks, it's not that simple. Bush has some history here, but not on the side you think.

In 2003, according to the New York Times (a liberal publication) President Bush proposed a new regulatory oversite Agency to do nothing but 'babysit' Fanny Mae and Freddie Mac. Guess what? Democrat Barney the genius Frank shot it down, along with his friends on the hill and it didn't pass. Said he didn't want to 'hurt' the financial industry. NICE! Barney Frank or Barney Rubble?

Again in 2005, according to the 'Minority Report', John McCain co-sponsored a bill 'The housing enterprise regulatory act of 2005' and AGAIN it was blocked by the dems, but it came back in 2007 but it was blocked by Democrat Chris Dodd (you can call him Dud) and friends of the hill and Fannie Mae and Freddie Mac. Also involved in this, 'no, no, can't do this!' was Senator Barack Obama' , along with his friends. (Naturally Obama didn't want it regulated! they were enjoying their golden paydays! their party might end and that would suck!)

Jim John, sweetheart loan recipient from Countrywide Mortgage, managing director of Lehman brothers (from 1985-1990) which is now bankrupt, was CEO of Fannie Mae from 1991-1998 then when CRA was expanded, this corrupt embarrassment to his community allegedly deferred 200 million dollars in expenses, Fannie Mae under reported his compensation, originally reported as 6.7 million and it was actually closer to 21 million - at that time he gave Obama a donation of the maximum of $4600.00

Now he's a private (wealthy) banker and is on the Board of Goldman Sachs, which has donated another $700,000 to Barack Obama, as well as another half million dollars through a process called 'bundling'

His advisor, Jim Johnson, quit under fire, but also enjoys the benefits of a 'sweetheart loan' (mostly no interest loan)

Obama's 'personal advisor' (McCain might have several houses but I'm pretty sure none of them were procured with funding through means such as this!!) was the in charge of the CRA under the Carter Admin from 77-79 and then was an investment banker from 1980-1991 at Lazard Ltd, from 1991-1996 he was Vice Chair of Fannie Mae when the CRA expanded.

from 1996-1998 he was OMB Director under Clinton and from 1999-2004 he was CEO at Fannie Mae but stepped down WITH A 25 MILLION DOLLAR PARACHUTE after SEVERAL 'ACCOUNTING irregularities were found. does that mean what I think it does? then why the golden parachute? and why are we paying for it? who is in charge here? we should be OUTRAGED!!!!!

Now, for the biggie. Barack "Change you can believe in" collected more money in ...what do we call them? donations? kick backs? consulting fees? I don't really know. hourly wage? good grief. would love to ask him what he really did for that money - but I digress! The fact is, he collected more in three years than John Kerry collected in 20 years! Obama took the 3rd biggest payout from the agency from anyone - even the Accounting 'wizard with the freakishly large parachute! 'My Goodness, how are these people not in JAIL???In fact, breaking down, John McCain has collected 862.00 per year (from the agencies - and this is a breakdown, on average) and Obama has gotten 42,116 DOLLARS PER YEAR. PER YEAR!!!

Plus, this man who refuses to say the National Anthem (doesn't want to 'offend anyone - I say ' who? one of his terrorist friends??? get OUT of this country if you are ashamed!!!! shame on YOU sir!!!!!!!!!) used to work for Miner, Barnhill & Galland. Folks, this is the law firm that sued banks for not issuing enough subprime mortgages.

Ladies and Gentlemen, from refusing to sign legislation allowing stronger reform of the financial industry to prosecuting the financial industry for not lending enough of these shaky loans, you now KNOW who is behind the financial mess. Our democratic candidate.

Change we can believe in?

Excuse me...you can keep that change!!!