Mark R. Taylor Take no prisoners! http://americantruckersatwar.com AmericanTruckersAtWar Discussion Group http://youtube.com/ironponyexpress --- On Fri, 9/19/08, milford421 [EMAIL PROTECTED] Team Obama Has Fingerprints All Over Financial Crisis - Updated Strata Sphere ^ | Sep 19 2008 | AJStrata Thanks to Ruthr and Ernest_at_the_Beach Now we know why Obama wants to raise taxes - to bail out those jerks who tanked our mortgage markets and nearly sent us into a real depression. First off it is good to get a little history on what led to this mess. Michael Reagan does a good job of laying out the story, but this part is worth noting and remembering: To find the donkey, you need to go back to the Clinton administration, which decided that everybody and his kid brother was entitled to a mortgage even when they didn't begin to qualify for a home loan. In saner days, banks designated certain areas as no-loan zones — depressed neighborhoods where lending money to potential home buyers was not just a risky investment, but a certain future foreclosure. Critics of the practice called it "redlining," and President Clinton and his chums on Capitol Hill decided that banks should no longer act like banks and lend money only to home buyers who could afford to handle the monthly payments. Remember, Clinton left office with the economy a mess after the dot.com bubble burst too. This is what happens when you let inexperienced people with radical and naive ideas become president. One of the people key to this mess is Franklin Raines - who has ties to both Clinton and Obama: Franklin Delano Raines (born January 14, 1949 in Seattle, Washington) is the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton. … In 1991 he became Fannie's Mae's Vice Chairman, a post he left in 1996 in order to join the Clinton Administration as the Director of the U.S. Office of Management and Budget, where he served until 1998. In 1999, he returned to Fannie Mae as CEO, "the first black man to head a Fortune 500 company."[1] In 2006, the OFHEO announced a suit against Raines in order to recover some or all of the $50 million in payments made to Raines based on the overstated earnings [2] initially estimated to be $9 billion but have been announced as 6.3 billion.[2]. As everyone noted this guy was the first black CEO of a fortune 500 firm it becomes clear we cannot select leaders based on their race, or whether it advances their race. We need to pick leaders based on the content of their character, judgement and plans. Anyway, after setting up this mess and stealing a few million Raines ended giving advice to the Obama campaign. Even more troubling is the fact that the two top beneficiaries of political donations from failed Fannie Mae and Freddie Mac over the last 9 years were Sen Chris Dodd (#1) and Barack Obama (#2). First off, I cannot fathom how a quasi-government company controlling 100's of millions of dollars in mortgage payments from Americans across this country can line the pockets of the politicians supposedly overseeing them. This is criminal. They take our mortgage payments and send some of it to the politicians - all the time running the entire thing into the ground? Folks, they took our mortgage payments, got rich, bribed some pols and sit fat and dumb in million dollar homes - paid for by us. And now we will pay more to fix the mess they left behind. Obama is in this up to his neck, since he got more money than any other senator save one, and he did it while in office only three of the 9 years covered. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are a member of the "News Sarasota" Google group... To read more, go to: http://www.newssarasota.com http://newssarasotaezine.talkspot.com To hear more, go to: http://thecaptainsamerica.podomatic.com Enjoy the priviledge you now share with others who want to know what others don't... Thanks, Matt Bruce Managing Editor News Sarasota.com Retired 25 Year Fire-Rescue Captain Host Of: "The Captain's AMERICA" Show Heard From 12 noon to 1 PM ET Monday Thru Friday LIVE On Net Talk World.com Across America & Around The Globe At The Speed Of The Internet... Weekend's Overnight on The Accent Radio Network... Check Out: http://thecaptainsamerica.com http://www.nettalkworld.com For more options, visit this group at http://groups.google.com/group/News-Sarasota... To post to this group, send email to [EMAIL PROTECTED] To unsubscribe from this group, send email to [EMAIL PROTECTED] -~----------~----~----~----~------~----~------~--~---
