Obama Led Lawsuit Fueled Sub-Prime Housing Bubble!

Barack Obama, as a "community organizer" (communist PC speak for economic saboteur) filed a lawsuit in 1995 that was a moving force that brought on the Sub-Prime Mortgage meltdown in 2008.

President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices.

This from the guy who blames his predecessor for all the economic woes of this country.

In the White House, Obama has continued to intensify regulatory pressure on banks to provide more risky loans to African-Americans and Latinos. He has used lawsuits to fund his allies. And taxpayers are now unwittingly contributing to a re-inflation of housing prices.

Meanwhile, the president has blamed the housing bubble on supposed GOP deregulation, even though President George W. Bush expanded the regulation-expanding, anti-redlining policies established by progressives during Bill Clinton’s presidency.

“Governor Romney’s plan would… roll back regulations on big banks,” Obama says of his Republican challenger Mitt Romney in a 2012 TV ad titled “The Choice.”

“But you know what? We tried that top-down approach. It’s what caused the mess in the first place.”<

But then, it's all Bush's fault, isn't it?

Robert Mangabeira Unger - "Beyond Obama"

Here's Obama's former law school professor dissing Obama...there are a series of one-liner's that skewer Mr. Obama in probably the harshest manner possible...



Heere's the money quote.

“The Democratic Party has no new direction. … [Obama] has failed to advance the progressive cause,” Unger said. “He has spent trillions of dollars to rescue the moneyed interests and left workers and homeowners to their own devices.”

Keep in mind this guy is a far left liberal college professor unloading on his protoge...

Sucking The Public Tit

The question is...have we slid far enough into socialism or not?

That's what Obama did last week...sucking up to Hollywood for a $15,000,000.00 payoff.  Though arguably, Clooney was sucking off Obama...

Hat tip, Dan Mitchell

If I Wanted America To Fail...

Via Instapundit....

Sorry...

More buyer's remorse....

Via Don Surber's blog

What OWS & The Democrats Really Want

Here is the real message of OWS and the [Social] Democratic Party:

This is what the Liberal left has come down to...they want everyone to be dependent upon what scraps the goverment can give them. That way they can control pretty much every aspect of life. That's called "Liberal Fascism" (i.e. what the National Socialists in Germany and the Fascist Party in Itally wanted to do in the 1930's). Also, it's a book, oddly enough. I'd love to read it, but I can't afford it this year.

Hat Tip Powerline.

It's All Bush's Fault; Part 428

During his speech inaugerating the Martin Luther King, Jr. monument (which was made in China by slave labour), he spent most of the speech pushing for "redistribution of wealth" and blaming his predecessor for the country's economic woes.

Barack Obama bashed Bush and pushed “change” and redistribution of wealth during his speech today at the Martin Luther King Jr. Memorial. What could have been a unifying moment turned into a campaign speech. Nice work, Barack.

Transcript:

Nearly 50 years after the March on Washington, our work, Dr. King’s work, is not yet complete. We gather here at a moment of great challenge and great change. In the first decade of this new century, we have been tested by war and by tragedy; by an economic crisis and its aftermath that has left millions out of work, and poverty on the rise, and millions more just struggling to get by. Indeed, even before this crisis struck, we had endured a decade of rising inequality and stagnant wages. In too many troubled neighborhoods across the country, the conditions of our poorest citizens appear little changed from what existed 50 years ago -– neighborhoods with underfunded schools and broken-down slums, inadequate health care, constant violence, neighborhoods in which too many young people grow up with little hope and few prospects for the future.  

Our work is not done. And so on this day, in which we celebrate a man and a movement that did so much for this country, let us draw strength from those earlier struggles. First and foremost, let us remember that change has never been quick. Change has never been simple, or without controversy. Change depends on persistence. Change requires determination. It took a full decade before the moral guidance of Brown v. Board of Education was translated into the enforcement measures of the Civil Rights Act and the Voting Rights Act, but those 10 long years did not lead Dr. King to give up. He kept on pushing, he kept on speaking, he kept on marching until change finally came. (Applause.)  

And then when, even after the Civil Rights Act and the Voting Rights Act passed, African Americans still found themselves trapped in pockets of poverty across the country, Dr. King didn’t say those laws were a failure; he didn’t say this is too hard; he didn’t say, let’s settle for what we got and go home. Instead he said, let’s take those victories and broaden our mission to achieve not just civil and political equality but also economic justice; let’s fight for a living wage and better schools and jobs for all who are willing to work. In other words, when met with hardship, when confronting disappointment, Dr. King refused to accept what he called the “isness” of today. He kept pushing towards the “oughtness” of tomorrow… {All emphasis is mine, Ed.}

Eventually, Mr. Obama will realize that this isn't what the country wants...that "Class War" just doesn't sell very well in America. Here's the new face of the [Social] Democratic Party.

Liz Cheney said on FoxNews this morning that,

“In terms of President Obama, what he’s doing politically he may think makes sense. I think it’s actually scarier than that, though. I think he really believes it. I think that he’s not put forward so many policies that aren’t working economically and that are not working for him politically that you’ve got to at some point it must be ideology. It must be that he really believes in redistribution of the wealth. He really believes in increasing capital gains tax even if it means lower revenues to the treasury. It’s something new that we’ve seen from a president in a long time and I think it’s very concerning.”

When Mr. Obama was confronted by Joe the Plumber in 2008, he was merely saying what he really believes...that the only way to economic prosperity for this country is to take away from those who do the work, and give it to those who won't work.

Obama: Massive Job Killing Tax Increases

Here's video of candidate Obama in 2008 about what he'll do...have massive, job killing tax increases.



“So, when you hear folks saying ‘Well, the president shouldn’t want massive job killing tax increases when the economy is this weak.’ Nobody’s looking to raise taxes right now. We’re talking about potentially 2013 and the out years.” (emphasis added)


So, as PJM Tattler points out, after he's a lame duck president, he'll finish off the economy!  Just what we need.

Hat Tip...the BlogFather.

Steven Den Beste's Prophecy:

Here's a very prophetic article written roughly two years ago by Stenven den Best.  In it he makes a number of points that...were quite prophetic.  Read the whole thing!

Not the end of the world

 Steven Den Beste

It's easy to let yourself go in despair and start thinking things like "We are well-and-truly fucked" or "This is the worst of all possible outcomes". But it isn't true.

I think this election is going to be a "coming of age" moment for a lot of people. They say, "Be careful what you wish for" and a lot of people got their wish yesterday.

And now they're bound to be disappointed. Not even Jesus could satisfy all the expectations of Obama's most vocal supporters, or fulfill all the promises Obama has made.

I think Obama is going to turn out to be the worst president since Carter, and for the same reason: good intentions do not guarantee good results. Idealists often stub their toes on the wayward rocks of reality, and fall on their faces. And the world doesn't respond to benign behavior benignly.

But there's another reason why: Obama has been hiding his light under a basket. A lot of people bought a pig in a poke today, and now they're going to find out what they bought. Obama isn't what most of them think he is. The intoxication of the cult will wear off, leaving a monumental hangover.

And four years from now they'll be older and much wiser.

A lot of bad things are going to happen during this term. But I don't think that this is an irreversible catastrophe for the union. I've lived long enough to absorb this basic truth: the US is too large and too strong to destroy in just 4 years. Or even in 8. We survived 6 years of Nixon. We survived 4 years of Carter. We even survived 8 years of Clinton, God alone knows how.
............................
So what are the good sides of what just happened?

1. It is no longer possible for anyone to deny that the MSM is heavily biased. The MSM have been biased for decades but managed an illusion of fairness. That is no longer possible; the MSM have squandered their credibility during this campaign. They'll never get that credibility back again.
2. Since the Democrats got nearly everything they hoped for in this campaign, they'll have no excuses and will have to produce. They'll have to reveal their true agenda -- or else make clear that they don't really have any beyond gaining power.
3. Every few decades the American people have to be reminded that peace only comes with strength. The next four years will be this generation's lesson.

Now, a few predictions for the next four years:

1. Obama's "hold out your hand to everyone" foreign policy is going to be a catastrophe. They'll love it in Europe. They're probably laughing their heads off about it in the middle east already.
2. The US hasn't suffered a terrorist attack by al Qaeda since 9/11, but we'll get at least one during Obama's term.
3. We're going to lose in Afghanistan.
4. Iran will get nuclear weapons. There will be nuclear war between Iran and Israel. (This is the only irreversibly terrible thing I see upcoming, and it's very bad indeed.)
5. There will eventually be a press backlash against Obama which will make their treatment of Bush look mild.

He makes a number of very good points.  The country has come to see just how disasterous the Democratic Party's plans for America are.  They plan for high unemployment, massive tax increases and much worse business climate to keep a far higher percentage of the citizenry dependent upon government handouts in the belief that such  people will always vote for the party that supports them.  They've made a huge mistake...