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Who's to Blame for Crisis?

By Joe_Curl on Sept. 26, 2008 into Joe Curl

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Who's to Blame for Crisis?
 
Still don't know who to throttle for the out-of-nowhere financial meltdown? Then watch this:

 

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There are 21 Comments

Totalpackage818

Wow-this was Fantastic! I just read another incredible article at crisisawareness.com on the same subject. If you want to survive our credit crisis, you've got to check it out. You've seen the news lately - you know what's been going down. One financial institution after another is toppling like a house of cards. Washington Mutual is just the latest victim to bite the dust. If you ask me, the entire U.S. financial system is in a downward spiral … - Slashing the value of your home … - Gutting the value of your investments … - Plummeting the dollar to unprecedented lows … - And driving unemployment and prices through the roof. This could be the greatest financial catastrophe of our lifetime – but it doesn't have to destroy your family's financial stability. What I read at crisisawareness.com could save the day for you. Clayton Makepeace gives the real story behind the credit crisis – and reveals crucial facts that the mainstream media has been keeping from you. And, more importantly, he tells you how you can protect yourself and your family. Check it out at crisisawareness.com. You'll be glad you did.
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soxconn

A very powerful statement. Someone did their homework.
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SouthPrairieDeb

If you are as ticked as I am, please write to your representatives. If you are too angry to compose a letter, please use mine. Feel free, I'm happy to serve my fellow citizens in this way: I am appalled by the corruption that the Bush Administration has enabled and as an American citizen I would like to express my deep concern with the Democratic and Republican Party's weak kneed responses to their anti-Constitutional behavior. The last 7+ years have been torturous for those of us who are educated, family oriented, and patriotic in our thinking. WHEN IS THE HOUSE GOING TO STAND UP AND FIGHT FOR WHAT AMERICA STANDS FOR? This bail out had better not be a blank check to Wall Street. The house allowed bankruptcy laws pass that would have protected the consumer to some extent, and now you expect that same consumer to save the banks who practiced unsound, predatory lending practices? You have been elected to serve the tax payers of our state and here is where the tire meets the pavement. I will not vote for you again if you allow this to go through without protections for the American tax payer that was duped by these corrupt practices.
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walford

Economic freedom did not cause mortgage crisis When the harpies of Command Economy imply that too much freedom is at the root of the current mortgage crisis, I viscerally know it is wrong. Only government can make a problem like this spread throughout the financial system; not a few greedy robber barons being allowed too much economic freedom as our erstwhile public servants charged with watching them are being constrained by corporate lackeys in the Republican Party. As was pointed out in a recent Washington Times Op-Ed, such programs as the Community Reinvestment Act give “liberal activist types legal authority to shake down corporations to get them to give mortgages to people who are bad credit risks” and systematize an otherwise smaller problem. Armstrong Williams specified other well-intended government interventions that spread this into a crisis such as homeowner tax breaks, “implicit government” Fannie Mae and Freddie Mac debt guarantees, “relaxed credit standards” for mortgages and “encouraging the collateralization and sale of mortgages to investors.” FDR successfully duped the American people into thinking that excessive economic freedom caused the stock market crash (the Fed did) and was thus given the power to inflame a momentary recession into a full-blown depression with his punitive taxation and regulation. We continue to suffer under his legacy with such boondoggles as Social Security. Let us hope that John McCain will display the same courage that he did in the Hanoi Hilton and tell the American people that he is not going to allow this crisis to be exploited as an opportunity to curb even more of our freedom.
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cosmotopper777

This is the Boston Tea Party, circa 2008. I would rather go through a recession (or worse) than bail out a bunch of hustlers with 7-figure incomes. The best part about this is that it revealed the true nexus of power in Washington D.C. A Politburo consisting of Pelosi, Dodd, Reid, Frank, Bush, Paulson & Bernenke, with a couple of inconsequential front men as Presidential candidates pulling up the rear. Well comrades, today you miscalculated.
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THDoc

Tea party anyone? Call, fax or email your reps in D.C. people. No matter which side of the D.C. crowd you are on, they should be willing too take a "HEALTHY" pay cut to help out. How about paying them $1.00 a year in salary and a $0.50 a year bonus to help with out with it until this passes and it won't burden the taxpayer quite so bad. Fax, email or call the White house and your reps. in D.C. and bring this up. Rather demand it! This is their doing, let them and the CEO’s ( and respective staff) bear part of the burden! We could almost pay for it with their paychecks over the next few years. Great things can start with a small idea!!! Fax the White House at 1-202-456-2461, Pelosi 1-202-225-8259, Boehner 1-202-225-0704, Reid 1-202-224-7327"... comments@whitehouse.gov The $1.00 a year payroll idea is mine and no one, Dem Independent or Repub. should have a problem telling our civil employees and the rest to deal with it! Because I guarantee you, none of them will go hungry!
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rlrm777

Walford: Although I agree with your comments, I can't blame Bush or the Repub lackeys for the failure of oversight. It has been shown in videos that Dems resisted any effort by Bush , McCain and the regulators to rein in Freddie and Fannie. This is not to say that there are no examples of Repubs failures, but the most glaring and public thus far lies with Dodd, Frank, Schumer, Raines, Johnson, Shays, Maxine Waters, amoung others. In my never-to-humble opinion, Bush has a leading role by not demanding regulators do their jobs, and not coming to us much earlier ( ala Reagan) because this has been coming for a while. You have to know that there are a lot of dirty Dem hands in this, because other than Pelosi's ill conceived and poorly timed partison diatribe before the house vote, their initial reaction was to say that this was way too important to start assigning blame. Don't kid yourself; they know exactly who is to blame.
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handle_the_truth

Barack Obama's Fannie Mae/Freddie Mac Connection - September 16, 2008 ===================================== Lehman Brothers collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago. Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs. A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama. Now remember, he's only been in the Senate four years, but he still managed to grab the No. 2 spot ahead of John Kerry — decades in the Senate — and Chris Dodd, who is chairman of the Senate Banking Committee. Fannie and Freddie have been creations of the congressional Democrats and the Clinton White House, designed to make mortgages available to more people and, as it turns out, some people who couldn't afford them. Fannie and Freddie have also been places for big Washington Democrats to go to work in the semi-private sector and pocket millions. The Clinton administration's White House Budget Director Franklin Raines ran Fannie and collected $50 million. Jamie Gorelick — Clinton Justice Department official — worked for Fannie and took home $26 million. Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job. Now remember: Obama's ads and stump speeches attack McCain and Republican policies for the current financial turmoil. It is demonstrably not Republican policy and worse, it appears the man attacking McCain — Sen. Obama — was at the head of the line when the piggies lined up at the Fannie and Freddie trough for campaign bucks. Sen. Barack Obama: No. 2 on the Fannie/Freddie list of favored politicians after just four short years in the Senate. Next time you see that ad, you might notice he fails to mention that part of the Fannie and Freddie problem. Call the "John Gibson Radio Show" starting at 6 p.m. ET. Find it at XM 168 or Sirius 145 or go to www.gibsonradio.com.
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neb

Great clip Joe. Thanks for sharing.
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retake_usa

McShame and Abuse of Power Palin are the same: We've seen the destructive power of words. Remember when right-wing elements of the Grand Old Party stoked anti-government paranoia with talk of black helicopters enforcing Washington regulations? The party's blind-eye assent to this ended on April 19, 1995, when Timothy McVeigh and Terry Nichols blew up Alfred P. Murrah Federal Building in Oklahoma City, killing 168 people and injuring more than 800 others. According to a New York Times article that year: "Three specific events confirmed Mr. McVeigh's view of a runaway government out to take his guns: the Ruby Ridge raid (Aug. 22, 1992); Waco (April 19, 1993), and the passage of the Brady Bill in November 1993, mandating a five-day waiting period for the purchase of guns." Now, I'm not saying that it's wrong to ask questions about Obama's relationship, such as it was, with Bill Ayers. Or with Tony Rezko or with Rev. Jeremiah Wright. Just as it wouldn't be inappropriate to raise questions about McCain's association with G. Gordon Liddy, the convicted Watergate burglar whose colorful history includes telling listeners to his radio show in 1994 to shoot federal agents in the head. When McCain went on Liddy's radio show in November 2007, he told Liddy, "I'm proud of you, I'm proud of your family... It's always a pleasure for me to come on your program, Gordon, and congratulations on your continued success and adherence to the principles and philosophies that keep our nation great." The candidates' associations with these people, and their responses to questions about them, give you a view into their judgment. But at a time of great economic uncertainty -- so uncertain that the smartest people in the world are scratching their heads about what to do -- whipping up anger rather than reaching for solutions is not what's needed. In his column today, Charles Krauthammer writes that Obama's character "remains highly suspect." And he ends by saying, "There is a difference between temperament and character." This past week, by ginning up an anger and resentment on the campaign trail that should leave all with a cold chill running through their bodies, McCain has shown neither presidential temperament nor character. The New York Daily News reported this week that a "top McCain strategist" said, "It's a dangerous road, but we have no choice. If we keep talking about the economic crisis, we're going to lose." If they keep doing what they're doing, they'll deserve to lose..... McCain & Palin are home grown terrorist like the KKK.
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SpecialistMC

. Barack Obama must silence questions mounting and continue to spawn his Weather Underground's agenda deceiving Americans what his 'Change', a Socialist Revolution. Bill Ayres hosted a fund raising dinner in his home for Obama to launch his political career. At this meeting, they did not set around and chat what a wonderful country America is but planned a movement how they would take America in a new direction. Obama's Primary win was a progressive move of the Marxist Chicago politicans,they worked for, planned for and succeeded in puting their man in place for the highest level of power, the President of the United States. Karl Marx said, A revolution should be with the work of the mole, who burrows so far beneath the ground that he leaves no trace of his movement on the surface. This pattern of politics is beginning to surface.
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SpecialistMC

. Barack Obama must silence questions mounting and continue to spawn his Weather Underground's agenda deceiving Americans what his Change is, a Socialist Revolution. Bill Ayres hosted a fund raising dinner in his home for Obama to launch his political career. At this meeting, they did not set around and chat what a wonderful country America is but planned a movement how they would take America in a new direction. Obama's Primary win was a progressive move of the Marxist Chicago politicans,they worked for, planned for and succeeded in puting their man in place for the highest level of power, the President of the United States. Karl Marx said, A revolution should be with the work of the mole, who burrows so far beneath the ground that he leaves no trace of his movement on the surface. This pattern of politics is beginning to surface.
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SpecialistMC

. George Soros and the Liberal Democrats wanted a finanacial diaster so badly that they created one. Americans have become so dumbed down, it is George Soros and the liberal Democrats and make no mistake, Obama is in his back pocket, trying to collapse the dollar and destroy the Constitution therefore paving the way for Soros's 'World Government' and 'Open Society'. Soros promised that he will knock America off it's pedestal....and we watched it happen.
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fanniegate

http://www.fanniegate.net/ copy and past this in your browser and pass it on!
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soxconn

Why was this video taken off YouTube?
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