Rajjpuut's Folly: Dear Treasury Secretary Timothy Geithner,

Posted by Bob VanDeHey on July 14, 2011 at 5:00pm

Note: After finding his website (treasury.gov/) to be totally user-unfriendly and being unable to communicate the following information with our Treasury Secretary, Rajjpuut left a link to his Townhall.com blogsite and printed this blog . . . .

21 Facts You Presumably Know (#1-21 with #19 referring directly to the actions of Treasury Secretary Timothy Geithner)

7 Facts You May Not Be Aware of (A-G with letter G referring directly to the actions of Treasury Secretary Timothy Geithner)

The obvious conclusions . . . .

21 Facts You Presumably Know

In 1975 the United States had by far the highest private home ownership in the world with 64%. Besides newcomers to the workforce, college students, the young and the scarcely-educated, virtually every American with gumption could own** their own home after a few years of renting.

2. In 1975 the “suspect” home loan rate stood at roughly 0.24% or only about one in every 404 loans. Before 1977, the usual and customary down payment had long been 20%. These suspect loans granted at 3% down payment or less were not only exceedingly rare, they were typically granted to veterans with jobs and great credit working their way through college under the GI Bill.

In 1985 the suspect home loan rate had risen to roughly 0.51% or about one in every 196 home loans. Something small had changed . . . . What?

In 1995 the suspect home loan rate was roughly 14% or about one in every seven home loans. Something big had changed . . . . What?

By 2005, just two years before the financial meltdown, about the time of widespread PUBLIC realization that sub-prime home loans were causing huge problems: the suspect home loan rate was roughly 34% or more than one in every three home loans. Something enormous had changed . . . . What?

Between item #2 and item #3 above, in 1977 two things had changed. The Community Reinvestment Act was passed in 1977 (CRA ’77) by the Carter administration and Democrat’s House and Senate. For the first time in history home loan lenders were forced to knowingly make bad loans to unqualified would-be home buyers.

Wade Rathke, a lieutenant of George Wiley, (more on this later) in 1977 with the passing of CRA ’77 created the Arkansas Community Organizations for Reform Now (ACORN) which was a “test organization” (more on this later) with two commandments from Wiley, Richard Cloward, and his wife Frances Piven (more on all of them later) in 1975, following up on this TRIO’s expressed desiderata for their followers to expand their endeavors (more on this later) into 1. Voter registration and 2. Home lending. Arkansas was chosen because of the existence in that small state of an up-and-coming young politician (the lieutenant governor elected in 1976, Bill Clinton) and his wife were very compatible with the TRIO’s politics.

Between item #3 and item #4 above, in 1977 six major things had changed. ACORN had been approved of and expanded to all 50 states. The ACORN acronym had been switched to a new meaning: Association of Community Organizations for Reform Now. Voter registration activities which had elected their candidate in Arkansas were now expanded to the entire country; and their overload-the-CRA ’77-law campaign that had already doubled the suspect loan rate of the whole nation just by their efforts in Arkansas was likewise a nation-wide campaign.

Bill Clinton, the ACORN candidate, had been elected governor of Arkansas for 12 of the next 14 years.

Clinton had become the ACORN president in 1992.

President George H. W. Bush who prevailed on 45 of his 46 vetoes did not veto a big bill he was largely in favor of. His veto was needed for a small part of that bill which added in an expansion of CRA ’77 to federal mortgage agencies Freddy Mac and Fanny Mae.

President Clinton used his Presidential powers to expand CRA ’77 in 1993 by huge regulatory fiat.

President Clinton out-maneuvered the Republican Congress and got CRA law expanded twice during 1995. By the way, President Barack Obama was an ACORN lawyer for two years before and after this time, browbeating home mortgage companies and banks into making knowingly unwise loans to undeserving unqualified home loan applicants. He was known for also getting ACORN contributions simultaneously.

Between items #4 and #5 only one major change took place in CRA ’77 but it was huge! Bill Clinton was now popular again and he was able to get a steroid version^^ of CRA ’77 passed in 1998.

The changes after the CRA steroid version was passed in 1998 were no longer just quantitative but hugely QUALITATIVE as well. To wit:

1. It became easier for ACORN to push for $440,000 homes after 2000 then it had been to seek $110,000 homes in 1990.
2. Not having a job; having only food stamps to declare as “income” and having horrific credit ratings were no longer a problem in buying very expensive homes.
3. Across the Southwestern United States even illegal aliens were able to get CRA-guaranteed treatment from ACORN.
4. Many of these CRA loans were now being made to EVEN LESS qualified loan applicants than before. A large percentage of these loans were now granted at 0% down payment.
5. To repeat, by 2005, suspect home loans had risen to 34% of all home loans.

In November, 2003 James Stack of Investech.com began running a chart of the Housing Industry Bubble in stocks within the home-building and financial industry and discussing the danger to the economy from the sub-prime lending crisis. The Stack Housing Industry Bubble showed a 1400% increase. Housing prices had been booming for well over a decade.

By early January, 2005 (less than 14 months later), the Bush administration had become seriously concerned about this problem. Their bill to repeal virtually all the most dangerous provisions of CRA legislation was defeated by Congressional Democrats.

Bush would make a total of 19 speeches about the sub-prime lending process and seek to change CRA legislation for the next 30 months. Finally, in July, 2007 a full two years and a half after the Bush administration had begun trying to change CRA law, a very weak bi-partisan bill was passed by the Congress.

That new law would prove to be way too little, way too late . . . but it would definitely help avoid much of the worst potential consequences of the sub-prime lending crisis. While the Obama administration was passing on the lie about Bush, conservatives, and the free market causing the financial meltdown (“driving the car into the ditch”), one honest and thinking man within the administration, Treasury Secretary Timothy Geithner recognized the truth and spoke it. In mid-2010, Geithner praised Bush for his efforts and eventual success in passing the July, 2007, anti-CRA law. Geithner said that Bush’s actions prevented a decline into a much worse recession and especially for an all-out plummeting of home prices.

As mentioned the new law helped but proved too little, too late to turn things totally around . . . and the financial meltdown hit us hard.

On at least 206 occasions, President Obama has used the “car (economy) in the ditch” metaphor implying that he and the Democrats and especially the Progressives within both parties had nothing to do with the problem. This is a lie. For 34+ years the Progressive laws have violated the free markets and forced low-down payment and no-down payment loans which must be granted to totally Undeserving and Unqualified home loan applicants.

7 Facts You May Not Be Aware of

A. Following the “War on Poverty” and “Great Society” initiatives of the Lyndon Johnson administration, in mid-1966, Richard Cloward and Frances Piven, two neo-Marxist sociology professors from New York’s Columbia University who admitted being inspired by the Watts Riots and the writings of Saul Alinsky, published an article in The Nation magazine entitled The Weight of the Poor: a Strategy for Ending Poverty. The article suggested that by “overloading” the nation’s newly expanded welfare system and using poor citizens as storm troopers . . . a financial crisis could be brought about forcing the then-dominant Democratic party to see that a GNI (Guaranteed National Income) law be passed and thus POOF! In one fell swoop ending poverty. This “overload the system and create orchestrated chaos” plan has been much discussed by the left-wing and become known as “Cloward-Piven Strategy” or “C-P Strategy.” The suggested Saul Alinsky tactics within this strategy included “street theater" demonstrations and “making them live up to their playbook.”

B. In 1967 Cloward and Piven and a Black militant Marxist, George Wiley, created the NWRO (National Welfare Rights Organization) to put C-P Strategy to work. They were able to put four million new recipients onto the New York State welfare rolls and almost double that many onto the nation’s welfare rolls between 1968 and 1970. A huge number of these additional welfare people lived in New York City.

C. Between 1968 and 1975 the NWRO had placed over eight million new welfare recipients on the rolls in New York State and almost sixteen million new people onto the rolls. A virtual two year long recession from early 1973 to January 1975 hit the stock market with its biggest losses since the Great Depression. In 1975 NYC went bankrupt and was bailed out by the federal government. New York State teetered upon the edge of bankruptcy.

D. Even though a GNI was never seriously considered in Congress, Cloward and Piven and Wiley declared “victory” in numerous speaking engagements and in print. They advised their followers to move into voter registration and housing. Wiley’s lieutenant Wade Rathke (who’d been sent to Arkansas in 1970 by the NWRO) had been assigned the task of creating a C-P strategy for a future campaign. Between President Carter; the Democratic Congress in 1977 and Wade Rathke’s creation of ACORN in Arkansas that task was successfully completed.

E. In 1993, shortly after being elected to his first term, President Bill Clinton oversaw the creation of the Motor Voter Bill (called by many “a superhighway to voter fraud). ACORN which had been pushing for loosened standards of proof for voters for 16 years was represented at the signing ceremony by Richard Cloward and Frances Piven standing directly behind his desk while he signed the new law.

F. Corruption was rampant, Democratic leaders like Barney Frank and especially Fanny Mae head Franklin Raines (who it's believed personally profited over $150 million from the scandal) maintained over and over throughout the period from 2004 to 2007 while speaking about Fanny Mae and Freddy Mac that these were solid investments for the public. Anyone who dared to point out the dangers was castigated and demagogued as a racist or non-patriotic person. Today more than three million potential new foreclosures are about to be added to the housing market. Even one foreclosure in a neighborhood can devastate the local home values. Fanny’s and Freddy’s future is still very much in the air.G. Only one honest voice has come out discussing about 1% of this very serious and critical matter: Timothy Geithner.

The obvious conclusions . . . .

The truth about these matters is not only of great financial import but also critical to the awareness of the American voters. It is clearly no exaggeration to say that the nation’s security is in play. The truth is needed, what trusted source will reveal it? I pray, sir, that honest source will be you . . . .

Sincerely,

Bob VanDeHey

Buford_Chamberlain@hotmail.com

Centennial, CO 80122

Ya'all live long, strong and ornery,

Rajjpuut

** Just exactly what is so wrong with renting homes and apartments^^ anyway? What tiny percentage of today's college students, other young people, high school dropouts and other scarcely-educated people, (the people who typically have bad credit, no credit or are inexperienced) and the people without jobs earning themselves at least $40,000 yearly or more can be counted upon to pay off ANY mortgage loans they'd be given?

If they can't put down even 10% down payment, what are the chances they'll ever actually own their own homes rather than the bank owning it? The whole CRA thing was a huge Ponzi scheme based upon the idea that housing prices NEVER go down . . . which is patent nonsense. Of course IF housing prices NEVER go down, then these people who are getting home loans which objectively they do NOT deserve will indeed make a profit . . . so this is a share-the-wealth project as well. But, of course, no investment grows to heaven . . . home prices routinely drop, that is reality. Renting is a time-honored tradition of the young, of students, of low educated people. Many of them end up owning a home later . . . but once the government prohibited free market loan evaluations, everything becomes irreparably corrupted.

^^ Another way to look at this is that CRA legislation was class warfare against the upwardly mobile middle-class. These are the people who invest in rental properties. If no one rents what happens to these people? What happens to upward mobility? What happens to the American Dream? This is the classic "Broken Windown Fallacy" where this category of taxpayers is made "invisible" so that they can be abused to the benefit of people who do not pay taxes. This brief link says it all . . . .

http://fee.org/library/books/economics-in-one-lesson/#0.1_L3

Tags: CRA '77, Timothy Geithner, financial meltdown, open letter, progressives, progressivism, sub-prime lending crisis

Rajjpuut's Folly: Everything Needed to Understand the Meltdown I Learned from John Galt

Posted by Bob VanDeHey on April 22, 2011 at 7:30pm

"Grover Norquist once said, “I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub . . . " “I don't know if I'd go that far, but I can tell you one thing: I'm sick of the damned thing taking out (questionable) mortgages in my name.” http://www.whoisjohngalt.com/

"I swear by my life and my love of it that I will never live it for the sake of another man, nor ask another man to live his for mine." -- John Galt from Atlas Shrugged the novel by Ayn Rand

"Who is Midas Mulligan?" Rand’s Atlas Shrugged

Missed the Boat, but Only Barely

http://www.whoisjohngalt.com/

Prophecy has never been humanity’s strong suit . . . not talking about “educated guesses” and “fact-based hunches here” . . . but serious prophecies, predictions and prognostications. Perhaps one in twenty thousand really off-the-wall predictions for the future ever comes true. Novelist Ayn (rhymes with “mine” though most people rhyme it with “main”**) Rand in her novels and non-fiction philosophy books incidentally made thousands of predictions and most of her most fundamental ones are coming true, sort of . . . Let’s take our present financial meltdown and ongoing economic malaise, for example . . . it’s too bad Rand never went acorn-hunting as a child, or should we say “ACORN-hunting?” If she had, the intriguing question running throughout her monumental masterpiece might not have been “Who is John Galt?” but rather, “Who is Midas Mulligan?”

In the novel (now made into a sensational low-budget independent film Atlas Shrugged Part I) the unseen Galt permeates our awareness as a potentially-sinister, confusing and mysterious presence. In real life, however, it is definitely the Midas Mulligans who are more likely to run the world. By the way, the movie Atlas Shrugged Part I is proving a huge consternation for all the (mostly left-wing) critics out there, roughly 85% of the pundits panned it with only 2% proving highly enthusiastic about its prospects. Virtually everyone who actually sees the movie (94%) rates the flick quite highly and, depending which article you read, numbers like 85%, 86% and 88% of them are “widely enthusiastic” about the search to discover “Who is John Galt?” The limited release to 299 theaters has proved very successful and now a 499 theater expanded-release is going on, with a wider 1,000 theater-release planned for May 1st. Let's get back to Midas . . . .

Rand’s creation “Midas” Mulligan was born Michael Mulligan and fought his way from nothing to become a highly successful, wealthy banker. After a lamestream-mainstream media hack called Mulligan, “Midas,” in a highly derogatory “slam” which Mulligan took as a huge compliment . . . the banker Mulligan thereafter insisted upon being called Midas after first having his name legally-changed.

In a shocking case of reality imitating fiction, Ms. Rand’s Mulligan finds himself being forced by the government via court order to lend money to an utterly incompetent and unworthy loan applicant. Of course, the reality being “predicted” a full twenty years before it happened was progressive president Jimmy Carter’s first congress (with loads of progressive Democrats and about fifteen progressive Republicans) passing the Community Reinvestment Act of 1977 (CRA ’77) thus forcing banks and other mortgage lenders to knowingly make highly ill-advised loans to pathetically unqualified home-loan applicants. In the novel, Midas of course, refuses to make the loan, totally ignores the court order, liquidates his entire financial empire, pays off his depositors and joins Galt’s underground movement.

In real life, alas, there were no Midas Mulligans. ACORN when originally created in 1977 (to exploit CRA ’77) by a George Wiley, Richard Cloward, Frances Fox Piven NWRO (National Welfare “RIGHTS” Organization) confederate named Wade Rathke stood for ARKANSAS Community Organizations for Reform Now) ACORN was a test-creation for Piven, Cloward and Wiley who by that time were already bragging publically and in print about their success in bankrupting New York City (it was given a federal bailout in 1975), almost bankrupting New York State, and putting the entire nation into a huge tailspin by having Wiley create an army of welfare recipients (they doubled the rolls across the nation in three years between NWRO’s creation in 1967 and 1970) using Saul Alinsky “street tactics” to implement the Cloward-Piven Strategy of “managed chaos” first published in The Nation in 1966.

http://en.wikipedia.org/wiki/Cloward%E2%80%93Piven_strategy

Wade Rathke, who had been sent to Arkansas in1970 to teach the Alinsky tactics and implement C-P Strategy there for the NWRO, was chosen because of the presence of a charismatic young lieutenant governor in that state who was very simpatico with C-P Strategy and Alinsky tactics: Bill Clinton. It’s notable that in the C-P article in The Nation, Cloward, Piven had set out to create an NGI (national guaranteed income) thus SNAP! they said, wiping out poverty in one-fell-swoop while taking advantage of the progressive Democratic sweep in 1964 and the ensuing “War on Poverty” and creation of Medicare and the federal side of Medicaid by the ultra-progressive Lyndon Baines Johnson’s administration. While bragging about their great deeds (they didn’t get any serious interest for GNI but did almost destroy the economy – the two year-long 1973-74 recession was the second worst financial disaster in history after the Great Depression) Cloward and Piven advised their followers that the next areas of emphasis were to be: voter registration and the system of public housing. Rathke came up with a slightly altered emphasis, based upon CRA ’77: Arkansas ACORN would create its chaos in voter registration and mortgage-lending. With no Midas Mulligan’s out there to protect us, here’s a synopsis of the ACORN “success” story:

I. ACORN Voter Registration efforts

A. Ran the biggest voter registration drive in Arkansas history in 1977-78. Threw away all would-be Republican registrants and easily made Bill Clinton Arkansas governor in 1978.

B. (Except for the first Reagan sweep in 1980) kept Clinton in office for twelve of the next fourteen years.

C. Clinton returned the favor in his first months in the Oval Office in 1993 by passing the Motor Voter Act (a.k.a. “A License for voter fraud”) with Cloward and Piven standing behind the President during the signing ceremony in a picture found all over the internet. See it here:

http://www.examiner.com/independent-in-washington-dc/what-the-dems-know-that-we-don-t-universal-voter-registration

D. ACORN continued its fraudulent voter registration practices and even received federal money to do so and for census work up to 2010

II. ACORN Abuses CRA ’77 Mortgage-Guarantees

A. Operating only in Arkansas took 1975’s nationwide “suspect” home loan percentage from 0.24% to 0.51% (loans granted with 3% down or less) by 1985

B. Based upon success with voter registration and the home-loan program ACORN is expanded to all fifty states and renamed “Associations of Community Organizations for Reform Now” by 1995, one in seven home loans is suspect; by 2005 34% of them.

C. Bill Clinton sets about REALLY repaying ACORN for its support.

Even while getting Motor Voter passed, President Clinton began incredibly debilitating actions affecting the home-loan industry he’d not been able to impact while in Arkansas. Democrats regard Clinton as the first and greatest ACORN president.

1. In 1993 he drew up a huge regulatory expansion of CRA ‘77

2. Twice in 1995 Clinton and the congress passed CRA ’77 legislative expansions with incompetent Speaker Newt Gingrich as his unwitting foil.

3. Barack Obama serves as ACORN lawyer between 1994 and 1996, brow-beating and shaking-down home-lenders with Saul Alinsky tactics. Obama is teaching “Constitutional Law” and “Rules for Radicals” (Alinsky’s second book) in evening classes and proves successful in getting large future quotas placed upon banks for ‘sub-prime’ loans and often even gets ACORN donations from them in the Chicago area.

4. In 1998, Clinton passed a “steroid-version” CRA ’77 expansion. Between 1998 and 2007, where before it had been difficult to get unqualified borrowers into $100-$120,000 homes . . . all over the country people without jobs, without a decent credit rating, without even rental histories, whose only “income” is food stamps or other welfare, and, yes, even illegal aliens are now more easily put into $350 - $450,000 homes. 34% of all home loans are sub-prime highly suspect loans -- many of them with 0% down payment.

5. George W. Bush addresses the nation or congress nineteen times to try to get CRA ’77 repealed starting in January, 2005. Thirty months later a belated and very weak version of his bill is passed in July, 2007, it helps some. Obama Treasury Secretary Timothy Geithner will say in August, 2010, that Bush’s actions saved the nation from a much deeper recession and kept us from a staggering collapse in housing prices. Nevertheless, it’s all too little, too late and in October, 2007, the sub-prime lending crisis is clearly upon us and the meltdown begins.

The phenomenal website http://www.whoisjohngalt.com/ published an April 19^th blog comparing the actions of the government to identity thieves; the great author of How I Found Freedom in an Unfree World, Harry Brown who once ran for president under the Libertarian banner, said there was little moral difference between government and the Mafia or other organized crime syndicates. Well as for me, everything I needed to know about government’s evils came from Ayn Rand’s remarkable hero: John Galt.

And let us leave you with one last Atlas Shrugged quote:

"So you think that money is the root of all evil?" said Francisco d'Anconia. "Have you ever asked ‘what is the root of money?’ Money is a tool of exchange, which can't exist unless there are goods (and services) produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?..."

Ya’all live long, strong and ornery,

Rajjpuut

** ‘Tis very fitting today to think of Ayn Rand as a gold “mine” akin to the Founding Fathers and to relate to her strong support for unfettered individualism, lower taxes, and property rights which we associate with the word “MINE.”

"Grover Norquist once said, “I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub . . . " “I don't know if I'd go that far, but I can tell you one thing: I'm sick of the damned thing taking out (questionable) mortgages in my name.” http://www.whoisjohngalt.com/

"I swear by my life and my love of it that I will never live it for the sake of another man, nor ask another man to live his for mine." -- John Galt from Atlas Shrugged the novel by Ayn Rand

Rajjpuut's Folly: ‘Einstellung Effect,’ Revisionism-Blowback, or Sabotage?

Posted by Bob VanDeHey on November 5, 2010 at 4:30pm

http://www.americanthinker.com/2009/02/the_clowardpiven_strategy_of_e.html

“If all you have is a hammer, after a while, the whole world starts looking like a nail.”

Were Democrats Victimized

by their Own Shenanigans?

Barack Obama, Nancy Pelosi and the Democrats find themselves fully flummoxed and feeling flimflammed by the voters they’ve been working so feverishly and frantically for. It seems that in the 21^st Century, government throwing large amounts of money at problems A) is not that popular with the voters and B) doesn’t work. Hey, what’s that all about?

Rajjpuut used to work as a health educator for Blue Cross and Blue Shield. One of the “studies” that BC and BS did involved a series of actors going around to physicians reportedly suffering severely with fictitious but reasonable symptoms). It was discovered that surgeons wanted to surge into the body with a scalpel; radiologists thought the patients needed to be zapped; internists considered only the wisdom of potions, powders and pills; and chiropractors thought that body alignment was clearly necessary.

In a different study, psychologists found that chess masters routinely either missed or took much longer to discover unique two-move checkmate patterns when their thinking process got tangled up in five- eight- or ten-move combinations leading to far more familiar patterns . . . what’s up? In a phrase: it’s a scientific principle called the “Einstellung Effect” which is a fancy way to say that when all you have is a hammer, after a while the whole world starts to look an awful lot like a nail. Specifically, the Democrats are “one-trick ponies” who solve problems (or invent problems to solve; or cause problems and then set out to cure them) with only one specialized technique: upping taxes and throwing money at the symptoms of the problem (never the underlying cause which is all too often an initial excess of government involvement).

So our current exacerbation of our fiscal problems under Barack Obama may well be a lesson in the futility of money-throwing and an example of redistributive wealth (as a solution) coming out second-best to the Einstellung Effect, at least that’s one possibility, but other than in revisionist history (where the progressives change things to be more to their liking calling, for example, the Italian Fascists an example of the evils of right-wing ideology when anyone doing a modicum of research finds out that the Italian labor unions rose up against the corporate bosses and seized power and then after seizing power across all of Italy, they elected Benito Mussolini to lead the entire nation. Last time anyone checked, labor unions are NOT a right-wing, but rather a left-wing manifestation. The progressives who used to call themselves Liberals are guilty of revisionism at least 100 times a day in major comments found in print, on the air or online.

Hmmmmm, the Einstellung Effect or progressives’ own historical revisionism coming back to bite them in the butt, ooh what a “Behar” (as in calling someone “a son of a Behar”). Of course, if you believe as Rajjpuut does that the 100% accurate and real ditch story is this one:

George W. Bush saw Obama, Clinton, ACORN and progressive politicians deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) and jumped into the front seat, grabbed the wheel and slammed on the brakes, thus initiating a controlled skid that deposited the vehicle into the nearest friendly-looking ditch.

For more on the details of this version of the now famous car and ditch showing that progressives created a bad law under Jimmy Carter (CRA ’77 which forced mortgage lenders to make knowingly bad loans) which was first expanded by regulatory fiat under Clinton and then expanded legislatively by Slick Willy three times (twice in 1995; and the steroid-version expansion in 1998); and all the while abused by ACORN to at day’s end cause us our worst financial comeuppance since 1929 . . . . Go here for those details and be shocked to find that supposedly 'stupid' G.W. was acutely aware economically and proved himself a hero according to Treasury Sec. Timoth Geithner:

http://rajjpuutsfolly.blogtownhall.com/2010/11/05/avoiding_1994%e2%80%99s_mistakes_crucial_for_conservatives.thtml

So the truth is that former ACORN lawyer and bank brow-beater and shake-down solicitor for the propagation of CRA ’77, Barack Obama, actually did 10,000 as much harm to the U.S. economy prior to October 2009 as George Bush ever did . . . and that since taking office in January, 2009, he’s done more harm to the U.S. economy than any man since the days of Herbert Hoover and FDR (two infamous progressives) . . . . it all sounds like the Democrats have been hoisted upon their own petard just as they were back in 1933 when FDR came into office and started breaking his campaign vows to, you guessed it, lower taxes and lower spending which is what Warren G. Harding had done in 1920 when he inherited a much fiercer depression from Woodrow Wilson than anything we’ve seen since: Harding cut taxes 48%; government spending 49%; and paid down the national debt by 30%.

http://www.theproletariatsnews.com/2008/11/special-report-do-we-need-a-new-fdr-to-save-us-from-depression/

http://www.realclearmarkets.com/articles/2010/09/22/1920_the_great_depression_that_wasnt_98679.html

So, is Rajjpuut saying that Democrats deliberately did the country in? As a matter of fact, he’s saying that the Progressive ultra-left-wing of the Democratic Party which has co-opted the Democratic Party did just that . . . but let’s pretend you consider such utterances to be “conspiracy theory” nonsense . . . well, given the facts as they stand you can instead call them extraordinarily INEPT instead and we’ll both be happy.

http://www.americanthinker.com/2009/02/the_clowardpiven_strategy_of_e.html

Ya’all live long, strong and ornery,

Rajjpuut

Rajjpuut's Folly: The Great ACORN-Progressive Betrayal of America

Posted by Bob VanDeHey on October 20, 2010 at 11:30am

George Bush saw Obama, Clinton, ACORN, and other progressive groups deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) dived into the front seat, grabbed the steering wheel and slammed on the brakes creating a controlled skid that put the vehicle into the nearest friendly-looking ditch.

Could that be true?

“President G.W. Bush warned congress at least 18 times about the problem after January, 2005, when his administration made their first attempt to undo the evils of CRA legislation, especially the last three expansions by Clinton (1995 twice and 1998’s steroid version), but were defeated by the progressives. Finally thirty months later in July of 2007 a much weaker, watered down bill was passed by bi-partisan vote. It would prove far too little, far too late and the meltdown began soon afterward. However, it was sufficient help to the economy that Treasury Secretary Geithner in August, 2010, credited Bush with preventing a truly deep recession and preventing home prices from plummeting dangerously.” Rajjpuut

Cassandra and The Shocking Truth

that Sets the Country Free

Those of you who've heard a little bit of mythology have almost surely run into Cassandra. She was the daughter of King Priam of Troy and sister of Hector and Paris. Supposedly she slept overnight in the Temple of Apollo and the snakes therein licked her ears so clean she could "hear the future." Because her clairvoyance might quite likely interfere with destiny, Apollo cursed her with being unbelieved. For example, she foresaw the defeat of Troy, her brother Hector's body being brought back within Troy's Walls and also warned of the dangers of the Trojan Horse . . . but, of course, no one would believe her ever, about anything. Ouch!!!

Rajjpuut is beginning to know exactly how that unlucky lady felt. In November of 2003, James Stack of investech.com started running a chart that he would continue to run for an unheard of length of time -- almost five full years. The gist of the chart (Housing Industry Bubble) was that not only were housing prices artificially high, but that mortgage industry stocks and virtually all stocks associated with housing in any way (construction, home improvement, insulation, insurance, etc.) were in a huge bubble (1400% of their 1995 values) which was sure to collapse AND that something called the "sub-prime lending crisis" as well as derivative investments based upon that crisis were threatening to undermine the very foundation of our nation's economy. The story involved in creating that crisis covers over 44 years and is NOT, like Cassandra's tales from the future . . . but rather from the past and all easily verifiable, yet like Cassandra . . . Rajjpuut finds no audience that listens . . . .

In seeking to understand that situation, Rajjpuut uncovered all these truths and he began writing about them to each and any and every ear he could find roughly seven years ago. It's all true, all verifiable and it amounts to tying together two of the greatest acts of treason in America's history with each other and the two most corrupt presidents in our history, our two ACORN presidents, with each other and with the "Founding Destroyers" of our country, Saul Alinsky and his two greatest disciples: Richard Cloward and Frances Piven . . . .

It’s well known and documentable that . . . the American housing loan industry was the finest in the world before progressive legislators got involved. Our sparkling 64% private ownership of homes was the envy of the planet. Sub-prime lending (that is lending to people who can’t afford their mortgage and will default on their loan unless they win the lottery) was unheard of. Banks that failed just failed in those days . . . and only when they actually failed or some shenanigans were discovered would the government step in in order to protect the depositors. Only 1 in every 404 home loans was made at less than 3% down payment in 1975, almost always to distinguished veteran officers from our military who were going to college and working part time. More than any other single person, Bill Clinton changed all that. Be prepared to be shocked . . . .

It’s NOT well-known that Bill Clinton was the first ACORN president, but he was. ACORN (originally “Arkansas Community Organizations for Reform Now”) was the brainchild of Wade Rathke created in Arkansas in 1977 to take advantage of Jimmy Carter’s Community Reinvestment Act of 1977 (CRA ’77). Much later when ACORN proved itself successful in Arkansas it was expanded across the whole nation, the “A” in ACORN stopped meaning “Arkansas” and came to mean “Association of.” Bill Clinton obviously was a real political comer (elected Arkansas lieutenant governor in 1976 at the age of 30), but his politicking was made much easier with the backing of ACORN over the next 18 years. ACORN helped Clinton win the governor’s mansion in Arkansas 12 of the next 14 years as well as two terms as president of the United States. It happened this way . . . .

Wade Rathke, was a George Wiley lieutenant sent to establish a National Welfare Rights Organization (NWRO) branch in the state of Arkansas seven years earlier. NWRO had been created by Wiley and Richard Cloward and Frances Piven in NYC to test out the Cloward-Piven Strategy (published in a 1966 article in The Nation magazine, The Weight of the Poor: a Strategy to End Poverty) and they planned to sufficiently overload the nation’s welfare system so that Congress would have to create a GNI (guaranteed national income) Law and abolish American poverty on the spot.

It didn’t work, but using Alinsky tactics (Saul Alinsky was a self-described “neo-Marxist” community organizer who had authored Reveille for Radicals and later Rules for Radicals) and by putting 8.2 million presumably unqualified new recipients on the welfare rolls, they did bankrupt New York City and almost bankrupt New York State. The federal government stepped in to bail out NYC in 1975. What happened exactly? In the late-sixties, founder George Wiley forged an army of tens of thousands of single minority mothers, whom he sent out to disrupt welfare offices through sit-ins and demonstrations demanding an end to the “oppressive” eligibility restrictions that kept down the welfare rolls. His aim: to flood the welfare system with so many clients that it would burst, creating a crisis that, he believed, would force a radical restructuring of America’s unjust capitalist economy.

The flooding of the welfare rolls succeeded beyond Wiley’s wildest dreams. From 1965 to 1974, the number of single-parent households on welfare soared so that by the early 1970s, one person was on the welfare rolls in New York City for every two working in the city’s private economy. Despite their failure to get GNI and abolish poverty, Wiley, Piven and Cloward bragged publicly and in writing about their ‘great accomplishment.’ That great accomplishment? Instead of igniting a restructuring of American capitalism and a GNI, this explosion of the welfare rolls only helped to create a culture of family disintegration and dependency in inner-city neighborhoods, with rampant illegitimacy, crime, school failure, drug abuse, non-work, and poverty among a fast-growing underclass. Wiley, Cloward and Piven told their eager followers that voter registration and housing were the next areas they needed to probe. Not surprisingly, ACORN today is known most of all for voter registration fraud and exploiting and abusing the nation’s housing legislation . . . .

So Wade Rathke (who would later create the nation’s and the world’s largest union SEIU) created ACORN in Arkansas to carry out voter registration and housing “activities” of a highly questionable nature. ACORN during Clinton’s first run for governor in Arkansas registered roughly 24,000 persons to vote and then threw away all the paper work for would-be Republican registrants. Clinton won, of course. They were less successful in getting CRA ’77 housing loans. But thanks to their efforts (mostly in Arkansas), the percentage of home loans made at 3% down payment or less around the nation more than doubled from 0.24% in 1975 to 0.51% in 1985 . . . but it was a “drop in the bucket.” From 1977 to 1993 only about $100 Billion in CRA ’77 loans were even issued to questionable borrowers. This was nothing like bankrupting NYC . . . .

However, because of huge success in registering Democrats, ACORN was quickly expanding across the nation and was sufficiently strong to put William Jefferson Clinton into the Oval Office in November, 1992. After that, things changed overnight for ACORN and for CRA ’77. The process had not been very active or very successful during the ‘70s or ‘80s, because banks only had to demonstrate to CRA regulators a “reaching out to the inner city.” As a result, only about 100 billion dollars was loaned to questionable borrowers. In the two great ACORN concern areas, Clinton did ACORN proud. He created the motor voter act (“a 12-lane highway leading to voter fraud” according to critics) in 1993 and brought in Richard Cloward and Frances Piven to stand directly behind him during the White House signing ceremonies.

Clinton moved next on housing . . . first by Presidential edict in 1993. He put teeth into CRA regs** by using the regulatory process itself to more or less make law, skipping Congress altogether. From now on poor inner city dwellers were to become preferred home loan recipients, mortgage traditions and their poverty be damned. Clinton went outside the CRA regs and also ordered HUD to set quotas for "Affirmative Action Lending" through Fannie Mae and Freddie Mac. A new pressure fell upon the banking industry to make loans that banks would otherwise have rejected as “financially absurd.”

Subprime lending was virtually unknown before the multiple changes made by Clinton. The system was no longer recognizable as “free market.” Then it snowballed with more regulatory change and then two expansions of CRA law in 1995, the Clinton administration forced banks to loan more than a trillion dollars in high risk loans accepting as “income” items like welfare checks, unemployment checks, seasonal income, occasional part time work and other questionable sources of “qualified income.” By the end of 1995, 14% of all home loans were conducted with less than 3% down payments, many of them with no down payment at all.

With ACORN in the streets embarrassing and badgering and shaking down lenders (Barack Obama, an ACORN lawyer in Chicago, was reportedly one of the best at not only securing loans and future loan promises but also at getting large ACORN donations from the lenders he was shaking down!) and with officious federal regulators promoting and pushing and applauding bad loans not only with “the stick” of CRA and HUD but also using Fannie Mae and Freddie Mac as “carrots” due to their nature as implicitly guaranteed by the federal government. Millions of loans were made, often at breakneck pace in the normally snail-action world of mortgages.

In 1998, Clinton’s steroid-expansion of CRA law was passed. It was a nightmare. Now “food stamps” were regarded as income. Now ACORN found that they didn’t need high-powered extorters like Barack Obama, anyone with an eighth grade education could secure a loan for an ACORN client . . . and they found that it was now just as easy to get a poor person into a $450,000 home as it had been to buy a $120,000 home ten years earlier.

President G.W. Bush warned congress at least 18 times about the problem after January, 2005, when his administration made their first attempt to undo the evils of CRA legislation, especially the last three expansions by Clinton (1995 twice and 1998’s steroid version), but were defeated by the progressives. Finally thirty months later in July of 2007 a much weaker, watered down bill was passed by bi-partisan vote. It would prove far too little, far too late and the meltdown began soon afterward. However, it was sufficient help to the economy that Treasury Secretary in August, 2010, credited Bush with preventing a truly deep recession and preventing home prices from plummeting dangerously. And ACORN, even as they got loans for illegal aliens and people without even a rental history, they were getting paid to market CRA loans and made millions as a result.

All of this corruption enforced by strong-armed government agencies put millions of people into homes they simply could not afford. This caused an artificial feeling of financial prosperity for everyone and trillions of dollars were going into bad investments including derivatives based upon these horrific loans. Now, 90% of these laws are still on the books while the tax payer must pay for millions of past risky loans and are forced to bail out the irresponsible banks, insurance companies, automobile companies and Wall Street. Until we totally remove the government’s power to coerce, bribe, reward and bail out irrational and unfree decisions in the UNFREE MARKET, more of the same is always possible. The free market was working fine. It was working so fine that it took thirty years of deliberate abuse for the unfree market to bring America to its knees. Too much government? Yep! Blame it mostly on William Jefferson Clinton.

You did remember that the system originally wasn’t broken, right? You did remember that the progressives set out to manufacture a crisis a la Cloward-Piven Strategy and Alinsky Tactics that would “overload the system?” You have heard Barack Obama talking about somebody else driving the car in the ditch and now wanting the keys back, haven’t you? Are you going to ignore the evidence and head back to your sitcom? How about thinking this over . . . ?

George Bush saw Obama, Clinton, ACORN, and other progressives deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) dived into the front seat, grabbed the steering wheel and slammed on the brakes creating a controlled skid that put the vehicle into the nearest friendly-looking ditch.

So Monica, Paula and Jennifer weren’t the only ones, were they? Slick Willy also had his nasty way with you and with all the American public . . . and remember that George W. Bush was only barely successful in his efforts to fight the evils of CRA laws . . . so that today 90% of the same laws (and 75% of the Clinton steroid-version expansion of 1998) that contributed to the fiasco and empowered ACORN are still on the books waiting to do us in once more. Every bit as dangerous as the new welfare laws threatening to overload the food stamp program; as dangerous as Obamacare; and as dangerous as progressivism itself are the CRA laws still on the books . . . .

You've read it all, you have it in your power to fact-check every item of the story . . . this is a story all America needs to know, don't you agree?

Ya’all live long, strong and ornery,

Rajjpuut

** Let's spread the blame around deservedly: George H.W. Bush succeeded with 44 out of 45 vetos and presumably would have succeeded in mid 1992 also with a large, complicated, many-faceted bill pushed through mostly by progressive Democrats. He should have vetoed it because one tiny part of it passed CRA '77 legislation into the realm of Freddie Mac and Fanny Mae the two federally-backed mortgage-guaranteers. The bill was still unwieldy and had no teeth but it was potentially a monster-disaster in the waiting . . . this was the law with which Bill Clinton began the mammoth attack on the mortgage loan industry; the law that made ACORN infamous.

Rajjpuut's Folly: Cassandra and The Truth that Sets the Country Free

Posted by Bob VanDeHey on October 9, 2010 at 3:00am

George Bush saw Obama, Clinton, ACORN, and other progressives deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) dived into the front seat, grabbed the steering wheel and slammed on the brakes creating a controlled skid that put the vehicle into the nearest friendly-looking ditch.

“President G.W. Bush warned congress at least 20 times about the problem after January, 2005, when his administration made their first attempt to undo the evils of CRA legislation, especially the last three expansions by Clinton (1995 twice and 1998’s steroid version), but were defeated by the progressives. Finally thirty months later in July of 2007 a much weaker, watered down bill was passed by bi-partisan vote. It would prove far too little, far too late and the meltdown began soon afterward. However, it was sufficient help to the economy that Treasury Secretary Geithner in August, 2010, credited Bush with preventing a truly deep recession and preventing home prices from plummeting dangerously.” Rajjpuut

100% True and Verifiable,

Yet No One Wants to Hear It

Those of you who've heard a little bit of mythology have almost surely run into Cassandra. She was the daughter of King Priam of Troy and sister of Hector and Paris. Supposedly she slept overnight in the Temple of Apollo and the snakes therein licked her ears so clean she could "hear the future." Because her clairvoyance might quite likely interfere with destiny, Apollo cursed her with being unbelieved. For example, she foresaw the defeat of Troy, her brother Hector's body being brought back within Troy's Walls and who warned of the danger's of the Trojan Horse . . . but, of course, no one would believe her ever, about anything. Ouch!!!

Rajjpuut is beginning to know exactly how that unlucky lady felt. In November of 2003, James Stack of investech.com started running a chart that he would continue to run for an unheard of length of time -- almost five full years. The gist of the chart (Housing Industry Bubble) was that not only were housing prices artificially high, but that mortgage industry stocks and virtually all stocks associated housing in any way (construction, home improvement, etc.) were in a huge bubble (1400% of their 1995 values) which was sure to collapse AND that something called the "sub-prime lending crisis" as well as derivative investments based upon that crisis were threatening to undermine the very foundation of our nation's economy. The story involved covers over 44 years and is NOT, like Cassandra's tales from the future . . . but rather from the past and all easily verifiable, yet like Cassandra . . . Rajjpuut finds no audience that listens . . . .

In seeking to understand that situation, Rajjpuut uncovered all these truths, even more than Glenn Beck has shown within this chronology (though Beck's overall understanding of the nature of "progressivism" far outstrips Rajjpuut's) and he began writing about them to anyone and everyone roughly six years ago. It's all true, all verifiable and it amounts to tying together two of the greatest acts of treason in America's history with each other and the two most corrupt presidents in our history, our two ACORN presidents, with each other and with the "Founding Destroyers" of our country, Saul Alinsky and his two greatest disciples: Richard Cloward and Frances Piven . . . .

It’s well known and documentable that . . . the American housing loan industry was the finest in the world before progressive legislators got involved. Our sparkling 64% private ownership of homes was the envy of the planet. Sub-prime lending (that is lending to people who probably can’t afford their mortgage and will default on their loan unless they win the lottery) was unheard of. Banks that failed just failed in those days and the government only stepped in on those rare occasions when something went very wrong in order to protect the depositors. Only 1 in every 404 home loans was made at less than 3% down payment in 1975, almost always to distinguished veteran officers from our military who were going to college and working part time. More than any other single person, Bill Clinton changed all that.

It’s NOT well-known that Bill Clinton was the first ACORN president, but he was. ACORN (originally “Arkansas Community Organizations for Reform Now”) was the brainchild of Wade Rathke created in Arkansas in 1977 to take advantage of Jimmy Carter’s Community Reinvestment Act of 1977 (CRA ’77). Much later when ACORN proved itself successful in Arkansas it was expanded across the whole nation, the “A” in ACORN stopped meaning “Arkansas” and came to mean “Association of.” Bill Clinton obviously was a political comer (elected Arkansas lieutenant governor in 1976 at the age of 30), but his politicking was made much easier with the backing of ACORN over the next 18 years. ACORN helped Clinton win the governor’s mansion in Arkansas 12 of the next 14 years as well as two terms as president of the United States. It happened this way . . . .

Wade Rathke, was a George Wiley lieutenant sent to establish a National Welfare Rights Organization (NWRO) branch in the state of Arkansas. NWRO had been created by Wiley and Richard Cloward and Frances Piven in NYC to test out the Cloward-Piven Strategy (published in a 1966 article in The Nation magazine, The Weight of the Poor: a Strategy to End Poverty) and they planned to sufficiently overload the nation’s welfare system so that Congress would have to create a GNI (guaranteed national income) Law and abolish American poverty on the spot.

It didn’t work, but using Alinsky tactics (Saul Alinsky was a self-described “neo-Marxist” community organizer who had authored Reveille for Radicals and later Rules for Radicals) but by putting 8.2 million presumably unqualified new recipients on the welfare rolls, they did bankrupt New York City and almost bankrupt New York State. The federal government stepped in to bail out NYC in 1975. Despite their failure to get GNI and abolish poverty, Wiley, Piven and Cloward bragged publicly and in writing about their ‘great accomplishment.’ They told their eager followers that voter registration and housing were the next areas to test. Not surprisingly, ACORN today is known for voter registration fraud and exploiting and abusing the nation’s housing legislation . . . .

So Wade Rathke (who would later create the nation’s and the world’s largest union SEIU) created ACORN in Arkansas to carry out voter registration and housing “activities” of a highly questionable nature. ACORN during Clinton’s first run for governor in Arkansas registered roughly 24,000 persons to vote and then threw away all the paper work for would-be Republican registrants. Clinton won, of course. They were less successful in getting CRA ’77 housing loans. But thanks to their efforts (mostly in Arkansas), the percentage of home loans made at 3% down payment or less around the nation more than doubled from 0.24% in 1975 to 0.51% in 1985 . . . but it was a “drop in the bucket.” From 1977 to 1993 only about $100 Billion in CRA ’77 loans were even issued to questionable borrowers. This was nothing like bankrupting NYC . . . .

However, because of success in registering Democrats, ACORN was successfully expanding across the nation and was sufficiently strong to put William Jefferson Clinton into the Oval Office in November, 1992. Things changed overnight for ACORN and for CRA ’77. The process had not been very active or very successful during the ‘70s or ‘80s, because banks only had to demonstrate to CRA regulators a “reaching out to the inner city.” As a result, only about 100 billion dollars was loaned to questionable borrowers. In the two great ACORN concern areas, Clinton did ACORN proud. He created the motor voter act (“a 12-lane highway leading to voter fraud” according to critics) in 1993 and brought in Richard Cloward and Frances Piven to stand directly behind him during the White House signing ceremonies. Clinton moved next on housing . . . first by Presidential edict in 1993. He put teeth into CRA regs by using the regulatory process itself to more or less make law, skipping Congress altogether. From now on inner city dwellers were to become preferred home loan recipients, mortgage traditions and their poverty be damned. Clinton went outside the CRA regs and also ordered HUD to set quotas for "Affirmative Action Lending" through Fannie Mae and Freddie Mac. A new pressure fell upon the banking industry to make loans that banks would otherwise have rejected as “financially absurd.”

Subprime lending was virtually unknown before the multiple changes made by Clinton. The system was no longer recognizable as “free market.” Then it snowballed with more regulatory change and then two expansions of CRA law in 1995, the Clinton administration forced banks to loan more than a trillion dollars in high risk loans accepting as “income” items like welfare checks, unemployment checks, seasonal income, occasional part time work and other questionable sources of “qualified income.” By the end of 1995, 14% of all home loans were conducted with less than 3% down payments, many of them with no down payment at all.

With ACORN in the streets embarrassing and badgering and shaking down lenders (Barack Obama, an ACORN lawyer in Chicago, was reportedly one of the best at not only securing loans and future loan promises but also at getting large ACORN donations from the lenders he was shaking down!) and with officious federal regulators promoting and pushing and applauding bad loans not only with “the stick” of CRA and HUD but also using Fannie Mae and Freddie Mac as “carrots” due to their nature as implicitly guaranteed by the federal government. Millions of loans were made, often at breakneck pace in the normally snail-action world of mortgages.

In 1998, Clinton’s steroid-expansion of CRA law was passed. It was a nightmare. Now “food stamps” were regarded as income. Now ACORN found that they didn’t need high-powered extorters like Barack Obama, anyone with an eighth grade education could secure a loan for an ACORN client . . . and they found that it was now just as easy to get a poor person into a $450,000 home as it had been to buy a $120,000 home ten years earlier.

President G.W. Bush warned congress at least 20 times about the problem after January, 2005, when his administration made their first attempt to undo the evils of CRA legislation, especially the last three expansions by Clinton (1995 twice and 1998’s steroid version), but were defeated by the progressives. Finally thirty months later in July of 2007 a much weaker, watered down bill was passed by bi-partisan vote. It would prove far too little, far too late and the meltdown began soon afterward. However, it was sufficient help to the economy that Treasury Secretary in August, 2010, credited Bush with preventing a truly deep recession and preventing home prices from plummeting dangerously. And ACORN, even as they got loans for illegal aliens and people without even a rental history, they were getting paid to market CRA loans and made millions as a result.

All of this corruption enforced by strong-armed government agencies put millions of people into homes they simply could not afford. This caused an artificial feeling of financial prosperity for everyone and trillions of dollars were going into bad investments including derivatives based upon these horrific loans. Now, 90% of these laws are still on the books while the tax payer must pay for millions of past risky loans and are forced to bail out the irresponsible banks, insurance companies, automobile companies and Wall Street. Until we totally remove the government’s power to coerce, bribe, reward and bail out irrational and unfree decisions in the UNFREE MARKET, more of the same is always possible. The free market was working fine, so fine it took thirty years of deliberate abuse for the unfree market to bring America to its knees. Too much government? Yep! Blame it mostly on William Jefferson Clinton.

You did remember that the system originally wasn’t broken, right? You did remember that the progressives set out to manufacture a crisis a la Cloward-Piven Strategy and Alinsky Tactics that would “overload the system?” You have heard Barack Obama talking about somebody else driving the car in the ditch and now wanting the keys back, haven’t you? Are you going to ignore the evidence and head back to your sitcom? How about thinking this over . . . ?

George Bush saw Obama, Clinton, ACORN, and other progressives deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) dived into the front seat, grabbed the steering wheel and slammed on the brakes creating a controlled skid that put the vehicle into the nearest friendly-looking ditch.

So Monica, Paula and Jennifer weren’t the only ones, were they? Slick Willy also had his nasty way with you and with all the American public . . . and remember that George W. Bush was only barely successful in his efforts to fight the evils of CRA laws . . . so that today 90% of the same laws that contributed to the fiasco and empowered ACORN are still on the books waiting to do us in once more. Every bit as dangerous as the new welfare laws threatening to overload the food stamp program; as dangerous as Obamacare; and as dangerous as progressivism itself are the CRA laws still on the books . . . .

You've read it all, you have it in your power to fact-check every item of the story . . . this is a story all America needs to know, don't you agree?

Ya’all live long, strong and ornery,

Rajjpuut

Rajjpuut's Folly: What Part of the Truth Are Republicans Scared Of?

Posted by Bob VanDeHey on October 5, 2010 at 2:30pm

George Bush saw Obama, Clinton, ACORN, and other progressives deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) dived into the front seat, grabbed the steering wheel and slammed on the brakes creating a controlled skid that put the vehicle into the nearest friendly-looking ditch.

Damn You, Republicans, Damn You!

The Truth Shall Set You Free

“President G.W. Bush warned congress at least 20 times about the problem after January, 2005, when his administration made their first attempt to undo the evils of CRA legislation, especially the last three expansions by Clinton (1995 twice and 1998’s steroid version), but were defeated by the progressives. Finally thirty months later in July of 2007 a much weaker, watered down bill was passed by bi-partisan vote. It would prove far too little, far too late and the meltdown began soon afterward. However, it was sufficient help to the economy that Treasury Secretary Geithner in August, 2010, credited Bush with preventing a truly deep recession and preventing home prices from plummeting dangerously.” Rajjpuut

Those Kate Winslet aficionados among you are undoubtedly big fans of her 2008 movie The Reader. The haunting story garnered several Academy Award nominations including Winslett’s 6^th for Best Actress (she’s had seven Golden Globe nominations). Of course, Winslett won the Oscar for The Reader. Without ruining the story for you, the plot goes something like this: a fifteen year old German boy is rescued by an older woman in the mid to late 1950’s. Some months later when he is well again he goes to thank her and is captivated by her romantically and eventually sexually. The boy grows up and goes to law school . . . while on a “field trip” he sees her again, on trial potentially for her life.

The theme of The Reader is almost shocking in its power . . . sometimes mundane hidden personal truth can be far more personally devastating then other seemingly obvious and horrific truth. And, GASP! that’s also the theme of this blog . . . why won’t the Republican Party reveal the truth about the financial meltdown that began in 2007? Rajjpuut has come to believe that some comparatively innocent failings of both a personal and party nature are so embarrassing to the G.O.P. that even though the truth about this issue can literally rescue the country from our present headlong plunge into Marxism and fiscal collapse, the Republican leadership and conservatives in general are ashamed to ‘fess up.

Here’s the truth (immediately below); why won’t the G.O.P. reveal it to the voters and save the country? Whatever the reason, it’s time for Republicans and conservatives to ‘man up’ and stop the present Obamanation of American principles, the free market, fiscal common sense and human decency. Time to save our children’s and grandchildren’s future. The villain is NOT Barack Obama, he’s only a minor villain . . . .

It’s well known that the American housing loan industry was the finest in the world before progressive legislators got involved. Our sparkling 64% private ownership of homes was the envy of the planet. Sub-prime lending (that is lending to people who probably can’t afford their mortgage and will default on their loan unless they win the lottery) was unheard of. Banks that failed just failed in those days and the government only stepped in on those rare occasions when something went very wrong in order to protect the depositors. Only 1 in every 404 home loans was made at less than 3% down payment in 1975, almost always to distinguished veteran officers from our military who were going to college and working part time. More than any other single person, Bill Clinton changed all that.