Which Came First, the Crisis or the Cause?

It’s staggering just how much Americans have been misled regarding the credit crisis. I’ve heard commentators make arguments that confuse and confound the public.

Utter chaos is a liberal’s delight. As such, the current economic environment is a perfect opportunity for the left to ‘save the day’, at least in their own minds. Sadly, it appears that most Americans are drinking this Kool-Aid, buying into biased versions of what actually transpired.

If I hear the “plenty of blame to go around” argument one more time, I’m gonna puke. While it is technically true that individuals from both parties are to blame to some extent, the MASS MAJORITY of culpability (99%) rests squarely on the shoulders of the Democrats in Congress. Fannie wasn’t run by Republicans. It was run by Democrats, protected by Democrats, and it contributed primarily to Democrats.

If there are any folks out there that believe Obama can ‘fix’ all of the problems in our economy, do a favor and ask yourself the following:

Would the crisis have occurred if affirmative-action housing programs were NOT pushed by Democrats and liberal special interest groups?

Answer: No. Absolutely not.

It’s really this simple. If Republicans had gotten their way and more regulatory oversight of Fannie was allowed, the affirmative-action housing program that led to the crisis would NOT have happened to such a large extent.

Consider what could have been prevented if John McCain’s bill for more oversight of Fannie had passed a few years ago:

1) Banks would NOT have been encouraged to engage in as many questionable lending practices for low-income borrowers

2) The sub-prime market would NOT have grown over 2,700% over the past two years (the Bush administration warned about this excessive growth in the OFHEO hearings, but this claim was shot down by senators Schumer, Frank, and Dodd)

3) Banks would NOT have been pressured by special interest groups to offer as many bad loans

4) Banks would NOT have been compelled to offer kickbacks to special interest groups (i.e., ACORN) to avoid potential lawsuits by these radical community groups

5) Rating agencies would NOT have had a chance to collude with investment banks to such a large extent; said another way, there would have been less sub-prime mortgage securities on the market and thus less collusion overall

6) The Ponzi scheme would have never had an opportunity to flourish if artificial demand for sub-prime had not been initially encouraged. Think about it…if gov had not pushed affordable housing, Fannie and Freddie would NOT have purchased these worthless loans, packaged these worthless loans and sold these worthless assets to investment banks. As such, investment banks would NOT have later packaged these worthless loans from Fannie and later sold these worthless instruments to investors…all roads point back to Fannie in this scheme…who ran Fannie? The Dems ran Fannie.


In a nutshell, the current crisis would have NOT happened to such a large extent if leftist special interest groups and liberal politicians had been stopped a few years ago with the proposed McCain bill. This entire crisis could have been prevented.

It’s easy for the liberal media to confuse voters on this issue. They purposefully get their audiences mired in one of the six points outlined above and never get to the root cause of the crisis. Anyone who dares criticize the true culprits is often called a racist…this is typical and par for the course. When you observe the beliefs of the left closely, the same themes pop up repeatedly…class warfare, higher taxes, income redistribution, & bigger government…these folks claim that government can solve all problems. If this is true, why should anyone accept any personal responsibility?

Liberalism…it’s not really as ‘fair’ and ‘neighborly’ as the Democrats would have you think. If Obama gets elected, God help our country.

FMC