Originally posted at 11;10 AM PDT
UPDATED BELOW, at 2:30 PM PDT, as Democrats, liberals generally, and their media in the U.S. and Canada, perpetrate outright lies, and lies by omission.
This is an election year both here and in the U.S. Lay blame where it belongs. LIBERALS, and their MEDIA.
Not moments before this happened, I wrote that Democrat loon Nancy Pelosi stood up and lied. She blamed Bush and his Administration and Republicans generally for the financial mess, and I called it one of the biggest lies I’ve ever heard. I mentioned it in passing on another matter —the fact that while the CBC was happy to present her lie speech, CBC Newsworld didn’t bother to even comment about her lie (see here). I said:
“And then it was on to other news, like playing the statement by Democrat House Leader Nancy Pelosi as she bashed the Bush Administration, and laid full blame on the Administration for causing the current financial crisis, in one of the most egregious lies I’ve heard since Bill Clinton—or perhaps ever in my life.
And the geniuses at the CBC did not comment on that lie.
Now THAT’s funny. “
Even Democrats aren’t buying the socialism bill.
The Democrats’ “done deal” is rejected by the Democrat-led House.
House Republicans voted 2-1 against it.
House rejects it 228 (against) to 205 (for), meaning nearly a hundred Democrats voted against it.
The Dems thought it was a slam-dunk for them.
UPDATE:
Wall Street Bailout Bill Headed Toward Defeat in House
…Opponents said part of the reason for the opposition from Republicans was what they termed a partisan speech by House Speaker Nancy Pelosi, said one GOP source.
“Pelosi’s partisan speech has caused our members to go berserk and may cost us any remaining chance to pass the bill,” the source said.
Pelosi had said that Congress needed to pass the bill, even though it was an outgrowth of the “failed Bush economic policies” of the last eight years. …
Democrat Nancy Pelosi is perhaps the worst Speaker of the House in my lifetime. She and her do-nothing Democratic Party have totally failed. And the Senate Majority Leader Democrat Harry Reid: the worst Senate leader in my lifetime. It’s no wonder the Democratic Congress has favorability ratings lower than President Bush.
See my category:
The liberal-left ruining the free-market, capitalist economy
UPDATE 2:35 PM PDT
Rush pearls:
Pearl of Wisdom: “The socialist bailout failed because so many Democrats opposed it. Where was the community organizer, Obama, getting his people in line? Nancy Pelosi can point fingers at Republicans, but Democrats have a majority. They could have passed this bill without a single GOP vote. What does this tell you about the bitter clingers in these Democrat districts? This has huge general election consequences.”
In 2004, Republicans held an oversight hearing on Freddie Mae and Fannie Mac. They warned us about this crisis back then, but Barney Frank, Maxine Waters, and other Democrats charged racism. Franklin Raines, the disgraced thief Democrat CEO of Fannie Mae, insisted the loans were “riskless.”
[Watch this 2004 Video Montage below:]
Pearl of Wisdom: “The preamble of the Constitution states it was created to ‘promote the general welfare,’ not ensure it. The bailout bill says it ‘provides authority to the treasury secretary to … ensure the economic well-being of Americans.’ This abrogates the Constitution. When the government tries to run the economy, it always fails.”
Pearl of Wisdom: “Think of ACORN as a thousand Jesse Jacksons shaking down companies and institutions. They were pressuring banks to make unsafe, subprime loans to people who couldn’t pay them back.”
You can’t vote out Pelosi, Barney Frank, Franklin Raines and the other Democrats who created this mess. You can take your anger to the polls. Remember, folks, Raines and ACORN will be in an Obama White House.
Pearl of Wisdom: “You know my big desire? The morning after November 5th, I want to see the media so shocked that some of them, not Wall St. people, think about jumping out the windows of skyscrapers. I want to see the Democrats so shocked that the DNC has to be guarded by psychiatrists to make sure the people inside do not go insane and have to be sent to an asylum. I want to see such a landslide.”
Also watch this:
Lasts nearly 10 minutes. Watch every minute. Even has good music.
UPDATE—after 1,027,274 views, this video removed from YouTube. New version underneath!
UPDATE Tuesday Sept 30 1:25 PM PDT: YouTube yanked it again. Version three was posted—also yanked. Will update as best i can…
UPDATE Tuesday Sept 30 1:44 PM PDT: YouTube yanked it again. Version three was posted—also yanked. Will update as best I can…
UPDATE – OK so try it now—on LiveLeak!
And watch this:
Read this:
Our Ann Coulter helps explain the inconvenient truth in “THEY GAVE YOUR MORTGAGE TO A LESS QUALIFIED MINORITY”:
…This crisis was caused by political correctness being forced on the mortgage lending industry in the Clinton era.
Before the Democrats’ affirmative action lending policies became an embarrassment, the Los Angeles Times reported that, starting in 1992, a majority-Democratic Congress “mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains.”
Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton’s secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low- to moderate-income borrowers by the year 2001.
Instead of looking at “outdated criteria,” such as the mortgage applicant’s credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named “Caylee.”
Threatening lawsuits, Clinton’s Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn’t a joke—it’s a fact.
When Democrats controlled both the executive and legislative branches, political correctness was given a veto over sound business practices. …
I ALSO WROTE:
I said this in this September 16 blog entry called: “Carter/Clinton-era social engineering should share most blame for current turmoil in credit markets”:
Liberals. They throw wrenches in the free market, then blame the free market for failing. And their answer is always… whadoyaknow: More government regulation. More rules. Raise taxes and create new ones. “Provide” more taxpayer cash and “programs” for folks to become totally reliant on. And I love this one the best: government “investment” in order to save the day (literally—a day).
In a word: socialism.
…and read this great article:
The Real Culprits In This Meltdown
By INVESTOR’S BUSINESS DAILY | Posted Monday, September 15, 2008 4:20 PM PT
Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it’s dysfunctional, Democrats during the Clinton years are a prime reason for it.
Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the “trickle-down” economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.
But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.
Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
The untold story in this whole national crisis is that President Clinton put on steroids the Community Redevelopment Act, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but “predatory.”
Yes, the market was fueled by greed and overleveraging in the secondary market for subprimes, vis-a-vis mortgaged-backed securities traded on Wall Street. But the seed was planted in the ‘90s by Clinton and his social engineers. They were the political catalyst behind this slow-motion financial train wreck.
And it was the Clinton administration that mismanaged the quasi-governmental agencies that over the decades have come to manage the real estate market in America.
[…Read the rest. …]
And there’s more.
Top Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008
Name – Office – Party/State – Total
[“D” stands for Democrat]
1. Dodd, Christopher – S – D-CT – $133,900
2. Kerry, John – S – D-MA – $111,000
3. Obama, Barack – S – D-IL – $105,849
4. Clinton, Hillary – S – D-NY – $75,550
5. Kanjorski, Paul H – D-PA – $65,500
.
And there’s more, but the liberals’ old dinosaur mainstream media isn’t covering any of this. The CBC and CTV are purposely not covering this.
.
PTBC was founded by Mr. Johannesen in 2000.
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