Obama can’t fix what his party broke
by Donald Hank
Before reading further, make sure you see this amazing video:
Did you see the debate last night?
Despite his relaxed exterior,and his pontifications on the economy, Obama was on the defensive, as well he should have been. McCain knew stuff he didn’t know, like the difference between a strategy and a tactic, or the names of presidents in Eastern Europe. After McCain rattled off these names and associated facts, Obama could only say “I agree with Senator McCain on this.” It was obviously all he could say. And then there was the gaffe about “taking out” Pakistan. And the misquote of Kissinger. Not a good night for Barack.
McCain was like a father lecturing to a son who hadn’t done his homework.
Again, Obama tried to make the claim that McCain is a laissez-faire capitalist who wants no regulation of the Fanny Mae and Freddy Mac, and, unfortunately, McCain muffed his chance to really explain the crash mechanism as well as Barack’s (and the Democrats’) primary role in the crash. Republican politicians seems to have little understanding of this mechanism, but it is all important for voters to know.
Folks, I had written a column on Bush’s role in the bank crashes that some thought was blasphemous, but what I said had to be said and no one else was willing to say it (that’s what Laigle’s Forum is all about, you know). And now we know the role Bush played in bringing down the banks. So is the bank crash all about Bush?
Not by a long shot, although he aided and abetted. It is more about Obama, his pals and his party. Much more.
I believe Bush’s role is related to his blind belief in New Age Christianity. As I have shown in various columns, evangelical Christians have been brainwashed by the Left into accepting what we might call “Christian socialism,” which includes teachings of globalism and surrender of sovereignty. Mainstream pastors now talk as though God had added an eleventh commandment: Thou shalt share the wealth. Indeed, my Brazilian colleague Olavo de Carvalho showed that the revolutionary mindset, which we now call the Left, started as a Christian heresy in the 13th century. Strangely, this heresy, which teaches that Christians must build the kingdom of God by eliminating social injustice, is now becoming the dominant doctrine in America, to our great peril, and the latest financial crash is its spawn. This heresy was first introduced into the American church by way of the far Christian Left (Jim Wallis, Tony Campolo) and was mainstreamed by preachers like Robert Schuller and later his protégées such as Rick Warren as well as supposedly “conservative” church leaders. If this sounds like blasphemy to you, you are no doubt a true believer in the emergent church’s New Age teachings. Beware.
But yes, the crash is really mostly about Obama and his party, which sabotaged American business. Characteristically of the Left, they behaved like naughty school kids who made the spitballs and let other kids throw them. That’s how it works. There are always some smart aleck troublemakers who are highly popular and the other, shy kids with a good upbringing, want to imitate them. Pretty soon the kids with the good upbringing are the worst offenders in the schoolyard and the smart alecks are posing as angels, laughing up their sleeves as the poor suckers get punished.
Naughty boy Jimmy Carter (another Christian leftist, by the way) started things off by introducing the Community Reinvestment Act in 1977, which the Democrats passed. This was a typical Carter goody-goody initiative to bring housing to people who would only get housing if you twisted their arms and made them pay no more than they would pay to rent. You know, the group we used to be called poor credit risks. Now we call them the “underserved.”
The program was modestly dimensioned at first and ran with no major glitches until Clinton took it into high gear, demanding $1 trillion in sub-prime mortgages, with the semi-government bureaucracies Fanny Mae and Freddy Mac leading the charge. Banks that could not or would not comply were punished. Punished for implementing nothing other than good business practice, mind you! (Remember that government-business partnerships are a feature of fascism, hardly the American way).
Then Bush morphed into Clinton on steroids and all but doubled the percentage of subprime loans, but added the cherry to the sundae with his “zero down payment initiative.”
There were a few futile attempts to put the brakes on, notably Senator McCain’s attempt in 2005 to enact the Housing Enterprise Regulatory Act. The Democrats blocked it. Obama doesn’t want you to know any of this, and the networks and mainstream media are helping him hide it and sell his fiction.
In all fairness to Bush, he too had tried to rein in Fanny and Freddy, back in 2003, but ran up against the Democrats.
So while Bush must take some of the blame, because he did push for higher percentages of sub-prime mortgages and his administration did write the disgraceful “Zero-Downpayment Initiative,” he was, after all, just following the Democrats’ lead and, I believed, trying, in a bungling way, to be a good little Christian, guided, unfortunately, by principles of the Christian Left, which had subtly and gradually become the mainstream in America.
Bottom line: while Obama claims regulation is necessary and accuses McCain of not wanting it, it was McCain himself who tried to introduce regulatory legislation that would help remedy the damage done by the Democrats through over-regulation of the socialist kind.
Keep that in mind when you go to the polls.
Another video on the subject: