Subscribe in a reader

Enter your email address:

Delivered by FeedBurner

• Recently Written

  • Character Counts, Part I
  • Bailout Passed, Dow Skyrockets!
  • Shame on Us
  • Who Is To Blame?
  • America Doesn’t Want the Bailout!
  • An Open Letter to President Bush & Congress

• Categories

  • Bailout
  • General Politics

• Archives

  • October 2008
  • September 2008

• Blogroll

  • Casino en Ligne
  • Elective Decisions
  • Free Republic
  • Full Text of the Bailout
  • Web Hosting
  
  
  

• Admin

  • Log in
  • Wordpress
  • XHTML

  Search

“I have a dream. That one day my people will be judged not by the color of their skin, but by the content of their character.” -Dr. Martin Luther King

I’m paraphrasing, but it’s pretty close. So let’s do a quick experiment. Let’s judge BARACK HUSSEIN OBAMA’S ‘Character’ in accordance with King’s statement:

BARACK HUSSEIN OBAMA’S “Character”:

The following is summarized, in hopes that it will reach even the most ADD affected, short term memoried instant gratification needed minds of today’s youth. It’s still a bit long, but read it anyhow. It’s must have information before you go to the polling booth on November 4th.

1. William Ayers

BARACK HUSSEIN OBAMA began his political career in 1995 at the home of one William Ayers. At the time, Ayers was a good friend, colleague and financial supporter of Obama’s campaign. Their relationship continued throughout the years and, for all we know, continues to this day. Here’s a little about Ayers:

* In 1969, Ayers founded the radical terrorist group, The Weathermen.

* In 1970, Ayers participated in the bombing of the New York City Police Headquarters.

* In 1971, he participated in the bombing of the United States Capitol building.

* In 1972, he participated in the bombing of the United States Pentagon.

* On September 11, 2001, while on his “Fugitive Days” book tour, Ayers said the following about his participation in the bombings: “I DON’T REGRET SETTING BOMBS. I FEEL WE DIDN’T DO ENOUGH.” When asked if he would do it again, Ayers responded: “I DON’T WANT TO DISCOUNT THE POSSIBILITY.”

* Ayers & OBAMA later collaborated on the “Annenberg Challenge”, a group that intended to ‘improve schooling in Chicago’. OBAMA served as Board Chairman for four years after 1995 and as a board member for two years after that (well into 2001, and during OBAMA’s term as a State Senator, where he funneled millions of taxpayer dollars into the organization).

* Post project evaluation showed that there was no noticeable improvement in Chicago schools (Duh! Socialism doesn’t work!).

* Turns out, Ayers’ entire educational improvement scheme, which OBAMA participated and supported in while involved deeply with the Annenberg Challenge, was to ‘attempt to convert schools into ideological engines indoctrinating students with far left agendas’. (BostonHerald.com, 10/13/08)

*  In 2006, Ayers visited Venezuela’s communist dictator Hugo Chavez and stated: “We share the belief that education is the motor force of revolution.”

* As a professor of education at the University of Illinois in Chicago, Ayers has written: “teachers must be capable of HOPE and struggle, outrage and action, teaching for social justice and liberation.”

The only question I want to know at this point about Ayers is: How many nights will he spend in the Lincoln bedroom?

2. Antonio “Tony” Rezko

Prior to being indicted and then convicted on 16 out of 24 counts of fraud and bribery related to receiving kickbacks from businesses that wanted to do business with the Illinois state government, Rezko was a political fundraiser (lol), restaurant owner, real estate mogul and all around top entrepreneur. Here’s a little about Rezko’s relationship with BARACK HUSSEIN OBAMA:

* In 1990, Rezko’s front company, Rezmar Corp., offered OBAMA a job. OBAMA turned it down, and ended up taking a job with a law firm that represented Rezmar Corp.

* As a result of the firms and OBAMA’s representation, Rezmar Corp. was able to secure over $43 million in government funding.

* In 1995, the very first donations to OBAMA’S political career were as follows: $300 from a lawyer, a $5,000 loan from a car dealer, and $2,000 from two food companies owned by Rezko.

* In 2003, as part of OBAMA’s US Senate Campaign Finance Committee, Rezko helped raise over $14 million for OBAMA’S campaign.

* Since then, OBAMA’S campaign has identified over $250,000 in various campaign contributions as having come from the convicted Rezko or close associates. OBAMA claims that over two-thirds of that money has been donated to various charities.

* In 1997, OBAMA wrote letters of support to city & state officials for a senior housing development headed by Rezko & then partner Allison Davis. The result? The project received over $14 million in TAXPAYER FUNDS, including $885,000 in development fees for Rezko and Davis.

* Currently, Rezko is in prison and is singing like a bird to federal prosecutors. It’s only a matter of time before the full extent of OBAMA’S involvement with Rezko is made public.

3.  A.C.O.R.N.

ACORN & OBAMA have been destroying the Constitution of the United States long before they came to the forefront for their illegal voter fraud on behalf of OBAMA and Democrats across the Nation. In fact, ACORN’S actions have argueably contributed the most (next to Democrats) to the current mortgage crisis that is bringing our economy down.

Aside from perpetrating illegal voter fraud, ACORN has been know for bullying city, state and federal agencies, using terrorist-like tactics even, to force the governments into making risking mortgages for low-income and minority home owners. Their premise? If banks didn’t make these loans, they were RACIST. Here are a few more facts about OBAMA and ACORN that you may not know:

* Obama organized Project Vote activities in Chicago, in 1992 and has trained ACORN operators. This is where he gets his “community organizer” experience he says qualifies him for the white house.

* ACORN and Project Vote are being investigated for widespread electoral crimes in America’s closely contendedstates - potentially hundreds of thousands of fraudulent voter registrations and the destruction of those of Republican voters.

* OBAMA has funneled over $800,000 to ACORN for their 2008 General Election operations.

* OBAMA promised in 2007 to let ACORN and related groups “help us shape the agenda“ of his presidency, by meeting with them after the Nov. 4 election.

* As a lawyer, OBAMA represented ACORN in a lawsuit to implement the “Motor Voter Law”, one of the tools ACORN has used over the years to alledgedly perpetrate illegal voter fraud across the country.

* OBAMA, as ACORN’s lawyer, sued Citibank in 1994, to force them into giving subprime loans to home buyers with poor credit ratings, contributing to the mortgage bubble and bust.

* ACORN was a driving force for the revised Community Reinvestment Act of 1995, pushing subprime mortgages through a very eager Fannie Mae. This allowed ACORN to pressure mortgagors to grant bad loans to bad risk homebuyers in the name of helping the poor.

* ACORN is funded in part by wealthy, anti-American radical extremists such as George Soros - and by YOUR tax dollars.

This concludes part 1. In the next installment, I will provide the low down on the other anti-American lowlifes BARACK HUSSEIN OBAMA has chosen to surround himself with, including Jeremiah Wright and others, as well as look at some of the problems with his policies.

WAKE UP, PEOPLE! The Constitution and American way of life are obviously at stake here.

OK, not really. But after all of the talk about how important it was to pass this bailout and that if it wasn’t passed IMMEDIATELY, the market would crash and the economy would tank, this is exactly how the market responded: by dropping over 150 points.

I hate to say I told you so.

In fact, this rotten, Socialist legislation will not help. Just a day after its passage, the news is already bleak: Credit Markets to Washington: Bailout isn’t enough.

But it’s OK, folks! Apparently, the Bailout has given Fannie Mae the power to begin helping homeowners: 90 Year Old Woman Shoots Herself over Eviction; Fannie Mae Forgives Loan.

Welcome to the Socialist States of Amerika!

By the way, just because the bailout passed doesn’t mean this site is going anywhere. In fact, I will continue to chronicle the follies and failures of the bailout. In addition, I have been brewing a political themed book for some time. I believe this is the place to begin. And finally, this is my place to speak out against the terrorist sympathizer, Barack Hussein Obama.

This morning, Good Morning America had a segment they called “Faces of the Credit Crunch”. The segment featured several ‘average Americans’ and the trials they have faced since the recent economic downturn. It went something like this:

Individual number one was a retired elderly woman. Due to problems within financial institutions, she was forced to sell off her shares of Wachovia for something like $1.20 a share. She wasn’t sure how she was going to recover and continue to live what appeared to be a somewhat comfortable retired life.

Individuals number two were partners in a somewhat upscale coffee shop in Colorado. After enjoying some success after opening, the business has suffered some losses since May of 2008. When the partners tried to get a business loan to keep their shop’s doors open, they were turned down and are now being forced to put more of their own money out of their own pockets into the business. They don’t know how much longer they can continue doing so.

Individual number three was a college student. After receiving his first student loan and starting school, his lenders sent him a letter saying that, due to current economic issues, the interest rate on his student loans was being increased. At this point, he couldn’t cancel the loan as it had already gone to the school. He was very concerned about his ability to pay this loan back in the future, as well as obtaining new, lower interest loans.

Obviously, GMA was making an attempt to make the American public feel sorry for these people, and warning them that this was just a sample of what is to come. Unfortunately, it would seem that they overlooked one simple problem with their premise.

Last time I checked, American citizens are NOT ENTITLED to a retirement. We are NOT ENTITLED to owning a business. Nor are we ENTITLED to an education. The ONLY thing we are guaranteed is the right to life, liberty and the pursuit of happiness. How we use this guarantee is up to each of us as individuals.

Likewise, it is NOT the government’s place to bailout wall street. Like individual Americans, some businesses succeed, and some fail. While I find it unfortunate that many people, including myself, will be negatively affected by major business failures and economic downturns, I find it even more disappointing that most Americans are willing to place their future in the hands of the government instead of being personally responsible for their own future.

Our Founding Fathers recognized the importance of personal responsibility in the American experiment. That is why they risked all they had - their own fortunes, futures and even their own lives - to forge the greatest country in the history of mankind. I feel, however, that we have failed that legacy. And as long as we continue down the path of entitlement, we will only fall deeper into the bonds of socialism.

Shame on us.

According to Senator Barack Hussein Obama, America is currently facing the greatest economic downturn since the great depression. But who is to blame for the mess? In a word, Democrats. But allow me to explain.

To fully understand how we have arrived at this point, it’s important to go back several decades. Specifically to 1977, when a DEMOCRAT controlled Congress passed the “Community Reinvestment Act” (CRA), which was subsequently signed into law by DEMOCRAT President James Carter.

Prior to the CRA being passed, banks issued credit based solely on the borrower’s excellent credit. Although this was a sound business decision on the part of the banks, Liberal DEMOCRATS in government decided that this practice excluded many low-income minorities from becoming homeowners, which had to be nothing short of racism. With the CRA, DEMOCRATS could demand that banks offer mortgages to less than creditworthy individuals, albeit at higher interest rates.

These high-risk mortgages would then be rebundled as mortgage-backed securities and offered up to investors, who snapped them up due to their high interest rates. This was done through the now infamous & formerly privately held entities known as Fannie May & Freddie Mac. Both of these entities are now currently under control of the FedGov, due to the recent downturn in the housing market.

Fast forward to 1995, when new rules were ordered by DEMOCRAT President William (BJ) Jefferson Clinton. These new regulations for the CRA increased access to mortgage credit to “inner cities” and “distressed rural communities”. Once again, DEMOCRATS saw only RACE, and completely ignored sound business decisions such as a borrower’s ability to repay the loan. The result? Homeownership on the part of blacks and hispanics skyrocketed. A 1999 article in the New York Times hailed the new regulations as a success, while hinting at the possibility of disaster:

“Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.”

[...]

“In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.”

The article goes on:

‘’From the perspective of many people, including me, this is another thrift industry growing up around us,’’ said Peter Wallison a resident fellow at the American Enterprise Institute. ‘’If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.’’

In addition to the new regulations, the Clinton Administration saw to it that funds were also funneled down to various community activist organizations that purported to help low income and minority individuals seek out home ownership opportunities. One such prominant organization, A.C.O.R.N. (who received BILLIONS of taxpayer dollars), is currently under federal investigation of charges of voter fraud.

Interestingly enough, A.C.O.R.N. is also where DEMOCRAT Senator Barack Hussein Obama received his “community organizer” experience. Coincidence?

Where has all of this led? As gas prices rose and other economic factors began to decline, more and more of these low income and minority loans have been defaulted on. Is it the fault of the borrowers? They may share some of the burden. Is it the fault of evil corporate mortgage lenders? Again, perhaps they could bear some of the blame. But the TRUE problem lies directly with Congress and the DEMOCRATS that have been given WAY TOO MUCH power.

Sunday, September 28, 2008 - Congress members, DEMOCRAT & REPUBLICAN alike, have ‘negotiated’ a bailout plan that will likely be voted on Monday. Instead of allowing the markets to work (because they do and will), they have engineered the bailout predicted by the New York Times. They will continue to promote the problem until one day, the only way out will be destruction of the ENTIRE economy or a turn to SOCIALISM, which will destroy America.

Then again, I believe that is EXACTLY what the DEMOCRATS want.

According to a recent Rasmussen poll, 76% of Americans DO NOT WANT TO BAILOUT WALL STREET!

Here is the interesting part:

Democrats in Congress have all the votes they need to pass or kill the bailout, and yet they fail to do ANYTHING. Why? Because regardless of what happens, they are SPINELESS WIMPS who do not want to blamed for whatever happens in the mess. In all reality, the Democrats could end the whole fiasco right now, but they continue to insist that Republicans have to vote too, and share the blame when the bailout blows up in their faces.

From the article:

Massachusetts Rep. Barney Frank, the lead Democratic negotiator in the House, is now hopeful an agreement can be reached by Sunday. House Republicans, who regard the unprecedented government involvement in the financial markets as nothing short of socialism, are demanding significant downsizing of the plan and other changes.

The time is now to call on your Senators & Republicans to KILL THE BAILOUT NOW!

President Bush & Honorable Members of Congress:

I am not a “Rich American”. While I have a small investment in stocks, most of the money that is left over after paying bills sits in a bank account. I have a mortgage, a wife and 2.5 kids. I wake up every morning and go to work, pay my taxes and deal with the ‘pain at the pump’. In plain words, I am one of the millions of Americans who live on main street and will be hit the hardest when the economy fails.

Nonetheless, I feel it is my patriotic duty to implore you to rethink the proposed ‘bailout’ of Wall Street. Here’s why:

1. The markets must be allowed to normalize themselves if we are to ever get out of the series of ‘bubbles’ this country has endured and minimize further risks down the road. The crisis we face now in the mortgage industry was created by Congress, specifically Democrats that wanted the lower income and minority groups to think that the Democrats actually cared about them. By allowing Congress to get further involved, you are only placing a bandage over the wound instead of taking steps to heal it.

2. Despite predictions by Treasury Secretary Paulson that the markets would crash if the bailout wasn’t passed immediately, they didn’t. In fact, the Dow rose yesterday over 100 points. Oil prices didn’t skyrocket, and an ounce of gold will cover the cost of a tailor made men’s suit, as it has done for over a hundred years. There have been no bank runs. Average Americans, such as myself, continue to go about their daily lives and do what we do best, which brings me to my third point.

3. We are Americans. We will survive. There is no doubt that there will be hardships throughout an extended economic downturn, but there will also be many opportunities and we will take advantage of them. There will be financial casualties across the country and perhaps around the world, but there will also be new opportunities for success. It’s all about being able to adapt. It’s all about being American. We will live up to the legacy left to us by our Founding Fathers of self-reliance, self-sufficiency and the REAL American way of life.

At this point, Congress should do the only thing it was meant to do: Secure our rights to Life, Liberty and the Pursuit of Happiness. This doesn’t mean saving each of us from financial ruin. Instead, Congress should immediately drop all negogiations of a “bailout”, and focus on eliminating the Capital Gains Tax. This in itself would most likely be enough of a “bailout”. It would certainly provide those with the power to move Wall Street the financial leverage they need to invest in the economy. 

Giving Wall Street a handout at the taxpayer’s expense is NOT PATRIOTIC. It is not even AMERICAN. It is a SOCIALIST idea, and we all know from our history books, SOCIALISM won’t last.

Thank you for your time,

KillTheBailout.com