Eight Years of Unbridled Capitalism; Give me a Break

 

I’ve had it; if I hear another Democrat apologist come on T.V. and attempt to explain away King Hussein Obama’s failed economic policies I’m going to throw a real brick (not my foam one) through my wide screen. I know I’m preaching to the choir here but I’m also spoiling for a fight. My wife has threatened to have me locked up if I continue to scream at the T.V. So, here’s what I’m going to do; I’ll explain it in plain and simple  terms here and you guys please get Ralph Deeds, and Mr. Happy and that Scottish Idealist and of course William; whomever the hell he is, to come on here and debate this with me. I’m in a truly foul mood and want to tear some Commicrat’s head off both figuratively and literally!

  

How is it they put it; Eight years of unbridled Capitalism that's what Queen Nancy said in her attempt to lay this destroyed economy at the feet of the Republicans! Do you understand what she said; unbridled Capitalism? Your Highness, the United States of America is a Capitalist Country; at least it was before the Obama Oligarchy took over! Now you along with Barney FWank(hunting Wabbits), Chris Dodd, Chuck Schumer and a plethora of other Liberal Democrats have destroyed what little confidence was left after your Fannie Mae and Freddie Mack housing scandal destroyed the housing market which precipitated the downward spiral in the economy.

 

Let me lay it out for you so you can rub your Democratic Friends Noses in it the next time they spew their cacophony of putrid nonsensical talking points. Let’s go back a ways and unravel what really happened! The National Home ownership Strategy, the pre-cursor of this crisis, began in 1994 when then President Bill Clinton directed HUD Secretary Henry Cisneros to come up with a plan for creative measures to promote home ownership. His administration went to incredible lengths to increase the national home ownership rate. It pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes. This led to the erosion of lending standards and later led to waves of defaults by people who never should have qualified for a mortgage in the first place.

 

With me so far; now let’s fast forward 8 years to 2002. Republican Congressman Christopher Shays from Connecticut had been so affected by the Enron scandal that he began to worry about Fannie Mae and Freddie Mac, the two government-chartered housing-finance corporations. They were the only Fortune 500 companies that didn't have to tell the public about their financial condition.  Shays called Frank Raines, the head of Fannie Mae to set up a meeting. Raines was a Bill Clinton budget chief and the first African-American chief executive of a Fortune 500 company. 

 

Shays found out in that meeting that in a move to help increase home ownership rates among minorities and low-income consumers, Fannie Mae had begun easing credit requirements on loans that it purchased from banks and other lenders. That action encouraged banks to extend mortgages to individuals whose credit was not good enough to qualify for conventional loans. Fannie Mae had been under increasing pressure from the Clinton Administration in the late 90's to expand mortgage loans among low income people.  

 

The Republican controlled House Committee on Financial Services held hearings in September 2003 during which Democrat Congresswoman Maxine Waters said: "Mr. Chairman, we do not have a crisis at Fannie Mae, 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. What we need to do today is to focus on the regulator, and this must be done in a manner so as not to impede their affordable housing mission, a mission that has seen innovation flourish from desktop underwriting to 100 percent loans.  

 

During those same hearings Representative Barney FWank (still hunting wabbits) testified: "I think it is clear that Fannie Mae and Freddie Mac are sufficiently secure so they are in no great danger... I don't think we face a crisis; I don't think that we have an impending disaster. ...Fannie Mae and Freddie Mac do very good work, and they are not endangering the fiscal health of this country. Not endangering the fiscal health of this country, their collapse destroyed the very underpinning of this country; thank you very much Elmer Fudd!

 

And just what moves has King Hussein Obama made to help us out of the crisis his party created; he has advocated policies which exacerbate the problem rather than alleviate it. The private sector is scared to death of this Fascist and as such is not about to hire additional people. So the next time you encounter a loud mouth Democratic Apologist attempt to lay this economic crisis at the feet of the Bush Administration you are now equipped with cold hard verifiable facts with which to shut them up!

 

6 comments

SheriSapp profile image

SheriSapp 6 years ago from West Virginia

Where is the hub patriot? I see the title, and the place to rate it, but there is no text!! I don't know if that is what you inteneded or not.


partisan patriot 6 years ago

Look below; something happened and the order got reversed when I published it.


SheriSapp profile image

SheriSapp 6 years ago from West Virginia

OKAY!! Now I read your hub. First, thank you for a good belly laugh calling out old Ralphie, Happy, and William--with fools like them voting, it is a bit more understandable how we got saddled with THIS idiot administration. Anyone with a brain must realize that the loans to unqualified buyers preceeded this entire economic downturn. The left wants to forget that it was THEY who insisted those loans be made. Remember, we don't want to seem racist. Lend it even if there is no conceivable way for them to ever repay. Barry and his Chi-town thugs HATE capitalism and free markets. Why else would the feds be running GM and fining the banks? The car companies probably got MORE money than the car makers, but the car makers have shut up and done as told. That is why they weren't fined but the banks were. We (barry) always needs to demonize and blame someone!!


partisan patriot 6 years ago

Sheri

The problem is that for every one of us that knows the truth behind the lie of the housing crisis there are at least 5 kool aid drinkers out there that believe the Blame Bush Lie. Until we are able to get the truth out in Hubs such as this, and letters to the editors and plain ole one on one talking we are at the mercy of the Tingly Leg Mathews of the world who continue to carry the left’s water for them and perpetuate the lie.

Of course the Barney FWanks (still hunting Wabbits) of the world insisted those loans be made; it’s not fair that their supporters don’t have houses and they are going to do all they can to get them into homes.

Barry (aka Barrackie-Boo) absolutely hates capitalism and free markets with a deep visceral hatred. Capitalism is the root of all evil in their world. Remember Capitalism represents a world in which White Man’s Greed Rules a World in Need!

King Hussein needs to blame someone; anyone for not to do so would mean he would have to take responsibility for his own failed policies!


Average American profile image

Average American 6 years ago from Las Vegas, Nevada

I pray that we actually have 8 years of unbridled Capitalism at some point. That is what is will probably take to get us back to square along with massive budget cuts just to zero out for a year before we start paying off this debt. The money we spend is disgusting. Democrats want to cut military spending, GOP wants to cut the rest, and be honest they are both right and neither will do it. We need a cut by 10% from day one of the next presidents budget (cuz this one isn't going to do it) across the board, then 10% the next year. Lean and mean, that's the way government should operate.


partisan patriot 6 years ago

Average American

Welcome aboard; hope to see more of you around here in the future. The 8 years of unbridled Capitalism you and I would both like to see will not begin for at least 3 more years. The economy will not grow under this Socialist Regime. Socialism has never worked anywhere in the world it has been tried and yet it seems to be tried over and over again resulting in the ultimate suffering of those it purports to help!

I agree with you in part, Democrats want to cut military spending, GOP wants to cut the rest, you say both right! If it had not been for Ronald Regan beefing up military spending the cold war would never have ended. If it had not been for America’s military spending which ultimately led to the development of the Atomic Bomb; Europe may very well be speaking German now and we may be speaking Japanese. Military spending is necessary the rest is not!

I don’t agree with giving able bodied people something for nothing. Welfare has destroyed an entire culture it was designed to protect and provide for. I believe in the biblical passage you give a man a fish he eats for a day you teach him to fish he eats for the rest of his life. Welfare has taught nothing except how to get something for nothing! It has single handedly destroyed the Black Family!

So I agree in part; Lean and mean, that's the way government should operate; but you still have to protect the country!

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