Help McCain avert a fatal scandal

Help McCain avert a fatal scandal

 

By Donald Hank

Ladies and Gentlemen, you have been recently treated here at Laigle’s Forum to a well-rounded smorgasbord of information about the causes of this latest financial crash. You have been regaled with information and insights not seen at any other web site, not mentioned in the “conservative” media or, much less, in the mainstream media. And now you will learn about one of the biggest scoundrels of all time, namely, that one of the authors of the biggest financial crisis in US history, has been chosen by John McCain as his new SEC chair. No, this is not going to happen. You are going to stop this insanity and we will tell you how. Keep reading.

First let’s review the time line of our financial crisis:

1-1977, Jimmy Carter proposes and gets a bill called the Community Reinvestment Act (CRA), which calls for more mortgages for minorities. It was pretty harmless at first, so Reagan didn’t bother to challenge it.

2- In 1995, Clinton put the CRA into overdrive, ordering the Treasury Department to rewrite the lending rules, thereby bypassing the Republican congress. The main criterion for getting a loan was race, and many loans required no income and no money down. In other words, bad credit risks got the lion’s share of the loans and still do. Clinton’s HUD secretary helped mightily to create this crisis. We’ll tell you about this guy shortly.

3-Bush protested these practices in his first term, when he was still a Republican, but later caved and increased the required percentage of loans to minorities and pushed for a “zero down-payment initiative.”

Bush now wants to pay for this with $700 billion of hard earned money from you, good hardworking people who do not renege on their loans. (Remember when people with good credit histories were rewarded and deadbeats were punished? We’re going to bring those times back by not agreeing to a bailout of any kind – BTW, gas prices are going down as a result of the crunch.)

ACORN, which the first version of the failed Democrat-authored bailout bill wanted to reward, was the group that agitated and lobbied hardest for the policies that brought down the lending market!  Obama worked hand in hand with ACORN and received huge donations from the associated criminal enterprises Fanny Mae and Freddy Mac.

Here’s where it really gets interesting. Please pay attention:

Andrew Cuomo, whom McCain has picked as his SEC Chairman, was Clinton’s HUD secretary when the new regulations were forcing banks to lend at ridiculous rates and under dangerous confitions, and according to the Village Voice, made “a series of decisions that… gave birth to the present crisis.”

Writes Village Voice correspondent Wayne Barrett:

Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that – in combination with many other factors – helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded “kickbacks” to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.

Did you get that? McCain has picked one of the authors of the present crisis, one of the most heinous scoundrels in American history, to head his Securities and Exchange Commission!

According to a Newsday article, here is what McCain says about Cuomo:

Cuomo would be a good replacement because he is respected and “did a good job” as secretary of Housing and Urban Development in the Democratic Clinton administration, McCain said.”I think he is somebody who could restore some credibility, lend some bipartisanship to this effort,” the senator said on CBS’ “60 Minutes” program.

Has McCain been on another planet for the last few years? Is bringing down American banks “doing a good job”?

Neither the “conservative” press (is there one any more?) nor the liberals have made the embarrassing connection between Cuomo’s pivotal role in creating the financial crisis and the fact that McCain wants this tarnished politician as his SEC chairman. Each side has decided to give you only the news that will help their side get elected. But the trouble with that approach is, it doesn’t put you, the new Ron Reagan, in the position to avert scandals and bad decisions of the kind McCain wants to make. Laigle’s Forum does not subscribe to the philosophy that presentation of news must be tailored to propagandistic agendas. You can’t change what you don’t know about.

So now that you do know, what can you do about this scandalous, potentially fatal situation for the McCain campaign?

Well, we Americans are usually seen by government as those little bugs out there that were made to squash, but that come in handy at election time.

But, Ladies and Gentlemen, you and I know we’re a lot more than that. We are the new Ronald Reagan. Last year, in the spirit of Reagan, we stopped the Amnesty bill dead in its tracks. Yesterday, in the same patriotic spirit, we stopped the bailout. The Bush-McCain-Obama steam roller can’t squash us after all. The Wizard of Oz is not all-powerful.

So what to do next?

Write to the McCain Campaign

http://www.johnmccain.com/Contact/

and then call the campaign HQ at

1-703-418-2008

Tell them McCain had better walk away from Andrew Cuomo fast because Cuomo is at the center of a scandal in the financial crash, was a pivotal player and will mar the campaign with a scandal McCain can’t afford right now when he is already losing. Send them a link to the Village Voice article, tell them this is all over the internet, and then make sure it is (send it to your list with a link to this Laigle’s Forum article)! Tell them McCain can’t rely on a conservative VP pick to lend him credibility. He has to actually talk the talk and walk the walk himself. We’re not buying the wishy-washy weasel words any more. And tell him for gosh sake, stop sounding like illegal immigration is A-ok. It’s not.

Then get in touch with your radio talk show hosts, including Rush (don’t bother with Hannity. He won’t jump on the band wagon until the scandal is too big to contain).

Link:

http://www.villagevoice.com/content/printVersion/541234

John McCain likes to brag about how he made people “famous” for doing things that cost the American people money.

Well, now it is our turn.  Tell his campaign we’ll make John McCain famous if he fails to walk away from this awful choice.

Why even help  the campaign of a guy who seems not to want to be president at times?

There is one very good reason to help McCain: Obama.

 

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6 Comments on "Help McCain avert a fatal scandal"

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Paula
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I HEAR YA.

Tell McCain he may as well just print more money to fix this problem!

Milla
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Printing money is NOT the solution, on the contrary. Read Dr. Walter William’s Townhall column and learn that the last thing we need is for government–who caused this problem in the first place–to stick get involved: http://townhall.com/columnists/WalterEWilliams/2008/09/24/scaring_us_to_death

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[…] Help McCain avert a fatal scandal […]

Marilyn
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Because it is impossible to reach any Congressional Representative or Senator at this time concerning the bailout issue because the telephone lines are jammed and the e-mail system is jammed, I am responding here. The bailout has to go through to avert a crisis that will be difficult to recover from that will involve loss of any moneys tied up in the stock market be they retirement programs, savings, money market funds et al. To stop this issue from happening again and to correct the current borrowing for mortgages, a bill should be drafted to address the issues that caused… Read more »
Paddycakes
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The inmates are running the asylum.

military
Guest

Well said, finally a good report on this stuff

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