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gw bush (2)

A) Based upon a 1966 article by two neo-Marxist professors (Richard Cloward and Frances Piven of NYC’s Columbia University) advocating a (GNI) or guaranteed national income as the solution to poverty

Posted by Bob VanDeHey on September 10, 2010 at 8:30pm

A) Based upon a 1966 article by two neo-Marxist professors (Richard Cloward and Frances Piven of NYC’s Columbia University) advocating a (GNI) or guaranteed national income as the solution to poverty in America . . . Cloward, Piven and George Wiley created the (NWRO) National Welfare Rights Organization in 1967 to test out Cloward-Piven strategy. In two years they used browbeating and street tactics to add 6.5 million people onto the welfare rolls. By 1975 they’d added 8.2 million and bankrupted New York City and nearly bankrupted the whole state of New York. The trio did not get GNI, but bragged about their great achievement and Cloward and Piven told their followers to use their strategy to attack housing and voter registration.

B) Shortly after progressive Jimmy Carter’s democrats created the (CRA ’77) Community Reinvestment Act in 1977 to force mortgage companies to make bad home loans to clients who could not be reasonably expected to ever repay their loans, Wiley’s lieutenant Wade Rathke (later founder of the SEIU union whose present leader Andrew Stern has visited the White House more than any other individual) already working on NWRO in Arkansas for Wiley was told to create another community organization there.

C) Rathke created ACORN (initially the “A” in ACORN stood for “Arkansas” only later would it come to mean “Association) that same year. They (ACORN) were somewhat ineffective at first in the housing arena but they did help elect William Clinton to the governorship in 1978 and keep him their for 12 of the next 14 years. In the next 21 years CRA ’77 would be expanded four times (three times by Clinton) and benefit greatly from “mortgage-guarantee regulatory review” ordered by Clinton in 1993, his first year in office. That same year Clinton oversaw the passing of the Motor Voter Act which gave ACORN a twelve-lane highway to voter registration fraud. In the official MVA picture of the signing ceremony, Richard Cloward and Frances Piven stand almost directly behind Clinton as he wields his pen.D) Clinton oversees two CRA expansions in 1995 and the steroid-version expansion of mortgage-guarantee legislation in 1998. As a result: highly risky loans (those written with under 10% down payment) increased dramatically and utterly insane loans (with less than 3% down payment required shot through the roof. Here’s the timeline:

1966 Cloward-Piven strategy is published

1967 NWRO is created with Wiley at its head

1975 NYC goes bankrupt and is bailed out by the federal government. Cloward, Piven and Wiley brag about their great deed and C-P followers are advised that the next emphasis areas must be voter registration and housing

1975 less than 0.24% of all home loans @ less than 3% down 1/404

1977 Jimmy Carter is inaugurated. CRA ’77 is passed. Rathke creates ACORN in Arkansas.

1978-1992 ACORN supports Bill Clinton, keeps him in office for 12 of the next 14 years until he becomes the first ACORN president in 1992. Over the years ACORN voter drives “register” tens of thousands of voters in Arkansas, only trouble? They never deliver a single “preferred party-Republican” registration form to voting authorities.

1985 just above 0.50% of all home loans @ less than 3%

down 1/198

1992-1995 CRA ’77 is expanded three times by congress

1993 Bill Clinton’s regulatory review of CRA ’77 puts ACORN on overdrive now they’ve truly got the law and the president on their side

1994 ACORN lawyer Barack Obama begins work brow-beating and shaking down home lenders so they’ll grant stupid loans

1995 roughly 14% of all loans are ill-advised @ less than 3% down

1998 Clinton passes the steroid version of CRA ‘77

2002 ACORN perfects their ploys and discovers that for little more trouble than getting a $120,000 loan they can put a destitute person in a $400,000 home.

2003 Investment advisor James Stack of Investech.com’s website starts running a chart on the “Housing Industry Bubble” in November, ’03 which he’ll continue running until about April 2008. Stack claims that not only are home prices in a bubble (risky high level) but the housing industry itself, construction and mortgages particularly have risen to 1400% of their 1996 values. On top of this, Stack pinpoints a coming “sub-prime lending crisis” based upon poor people who can’t afford their mortgages being put into very expensive homes.

2005 34% of all home loans are presumably bad business decisions @ less than 3% down; many of them 0% loans granted after ACORN shake-downs to clients without I.D.; without jobs; with horrific credit ratings; with only food stamps to list as "income"; without even a rental history; all sorts of welfare recipients; illegal aliens; and others who have no business with a mortgage loan.

2005 The Bush administration has seen enough, in January, 2005 they offer a bill to erradicate the sub-prime lending crisis and undo much of the CRA expansion, particularly with regard to Freddie Mac and Fannie Mae and to Clinton’s ’98 steroid-version. The bill is soundly defeated.

2007 Finally, in July, 2007, enough conservative and moderate Democrats have understood the crisis and a watered down version of the original January, 2005 Bush initiative is passed . The bill proves to be far too little, far too late and the country falls into financial chaos . . . but the new law does enough that three weeks ago Treasury Secretary Timothy Geithner praised Bush for saving the country from truly serious problems.

Today, when he and his administration and other progressives are not at work playing the “racism card,” Barack Obama delights in saying that Conservatives created the present mess and blaming everything that happened on the Bush administration that preceded him. The truth is sinister but must be acknowledged. The progressive-wing of the Democratic** Party has deliberately undermined the economy and Constitution of this country and must be made accountable. Who best to do the accounting and to banish the progressive-wing from their midst for eternity? The real Dems must do the deed.

Ya’ll live long, strong and ornery,

Rajjpuut

** A strong and honorable Democratic Party supporting the Constitution is needed.

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Rajjpuut's Folly: 19 Facts to Make Your Blood Run Cold

Posted by Bob VanDeHey on August 17, 2010 at 5:00pm

History of a Meltdown and the
Upcoming American Coup d'Gras
Fact 1: Today, August 17, 2010, Treasury Secretary Tim Geithner gave George W. Bush credit for saving the day with his actions watering down the weakened mortgage-guarantee model. Without Bush’s actions, Geithner said, housing prices would have dropped much further and the recession would have been much deeper. What was he talking about? Freddie Mac and Fannie Mae and the fact that today 90% of all home loans feature federal government involvement . . . and the fact that George Bush tried in January, 2005, and partially succeeded in July, 2007 in undercutting the mortgage-guarantee disaster when a few brave Democrats voted with him. In other words, the whole financial meltdown could have been much, much worse. But how did this problem arise? And more importantly why did it get so very bad?
Fact 2: Back in 1975 only one in every 404 home loans was made with less than 3% down payment. The largest portion of home loans were made with 15%-20% down. At this time America had the highest home ownership in the world, in a given year since 1946, 62-65% of all Americans owned their own homes. The system was definitely NOT broken.
Fact 3: Under Jimmy Carter, CRA ’77 a mortgage-guarantee law that required lenders to make knowingly bad loans was created. Thankfully the law was poorly crafted and easy to get around.
Fact 4: ACORN was also created in Arkansas in 1977 by a lieutenant of George Wiley (Wiley had along with Richard Cloward and Frances Piven of Cloward-Piven Strategy infamy taken eight years to deliberately bankrupt NYC in 1975 and just missed bankrupting NY state . . . their planned for creation of a “National Guaranteed Income” fell through and NYC was bailed out by the federal government. The threesome publicly bragged about their great “accomplishments” and instructed their followers that housing and voter registration should be the next area for “contrived crisis” attack on capitalism and the American way of life) named Wade Rathke. ACORN would continue on in the proud community organizer tradition of Saul Alinsky and Wiley. Cloward, Piven, Alinsky, Wiley and Rathke were all communists. While Cloward and Piven called themselves “socialists,” the rest called themselves either Marxists or Neo-Marxists. Most interesting of all: Rathke not only was key in Bill Clinton's presidential success, he was also the founder of the Service Employees International Union (SEIU) the group of thugs whose head Andy Stern has (according to White House logs) spent more time and visited more often than any other guest of the Obamas.
Fact 5: By 1985, 1 in 196 home loans was made with less than 3% down. The system was still solid.
Fact 6: In 1992, President George H. W. Bush failed to veto an expansion os the Community Reinvestment Act of 1977 which he detested; this allowed mortgage-guarantee legislation to force Fanny’s and Freddie’s involvement with bad loans. The applicable part of the law was a rider of a much bigger law -- one more reason to keep laws simple and straightforward. Overnight America was in trouble.
Fact 7: In 1993, Bill Clinton signed the Motor Voter Act (called by conservatives “a license for voter fraud”) with Richard Cloward and Frances Piven standing behind him during the signing ceremony the picture in question can be found in several places, including:
Fact 8: In 1995, Barack Obama was working as an ACORN lawyer shaking down home lenders to make extremely bad loans required by these extremely bad CRA laws. Lenders ran through all sorts of gyrations including “local standards” that would prevent such horrendous loans being approved, anything to avoid giving out such high-risk loans. Demonstrations and sit-ins etc. to “shame” the banks were just some of the nice tactics ACORN used. Harassment of bank officials was commonplace.
Fact 9: In 1995, President Bill Clinton cheerfully signed two more expansions of CRA ’77. Some Progressive Republicans joined Progressive Democrats to make this happen.
Fact 10: By 1995, 1 in 7 home loans was made with less than 3% down an expansion of 27 times the amount of “iffy” loans.
Fact 11: In 1998, Bill Clinton signed the steroid version of the CRA ’77 expansions forcing banks, etc. to make very bad loans as a matter of course. Some Progressive Republicans joined Progressive Democrats to make this happen.
Fact 12: ACORN now went into overdrive. People without ID; people without a rental history; people without jobs; people who listed their only income as food stamps; people with abysmal credit ratings; people on welfare; even illegal aliens found home (often very expensive homes) loans guaranteed to them.
Fact 13: The housing market took off. Speculation surrounding everything about the industry ran rampant.
Fact 14: A whole new “derivatives” industry was created on Wall Street, to take advantage of Alan Greenspan’s lax understanding of economics. Greenspan proclaimed in 2002 that the Derivatives were the savior of Wall Street and crashes would now be a thing of the past. Sub-prime mortgages were soon being packaged together as a financial instrument and sold as a derivative.
Fact 15: In November, 2003, a contrarian investment advisor named James Stack through his Investech.com website began warning of a horrific bubble and a sub-prime lending crisis. For 52 weeks a year for the next five years he regularly ran a chart of the “Housing Industry Bubble” and warned of the coming financial disaster.
Fact 16: By 2005, 1 in 3 home loans was made with less than 3% down. At this point 68.5% of Americans now owned their own homes . . . at what cost? At the cost of threatening our very way of life. But ACORN in the southwest now went hogwild in pursuing loans for illegal aliens.
Fact 17: Bush and the Republicans tried to handle the crisis they now saw coming clearly ahead by attacking the ’98 Clinton expansion in January, 2005, along with other CRA ’77 provisions. The Democrats stopped them cold.
Fact 18: Finally in July, 2007, enough patriotic Democrats could see the problem and a watered down version of the Republican attempt from 18 months earlier was passed. It was far too little, far too late, but it did help a bit and that’s what Timothy Geithner was praising today. However, the vast machinery of the five CRA ’77 versions is still in place awaiting the next version of ACORN to put it into action.
Fact 19: ACORN has been in the voter registration business for 33 years now. Recently the Obama Department of Justice (DOJ) dropped a voter intimidation suit against four New Black Panthers that had been verbally abusive to White voters at a Philadelphis polling place and threated a Black poll watcher with “beating him to death”. All caught on video. The case had been all but won by the Bush DOJ and handed over to them. After 17 months the case was dropped with only the one Black Panther (the fellow with a nightstick) “punished” by not being able to return to that polling site until November 2012. Obama’s appointee Deputy Attorney General Julie Fernandez presumably responsible for that decision also made two other decisions you should know about. She told a roomful of DOJ employees the DOJ had “no interest in prosecuting cases in which Black perpetrators intimidated Whites at polling places. And she told another roomful of DOJ employees that the department would not be investigating Motor Voter Act infractions at all “because it might lower turnout.” The next step in the grand design begins with voter fraud in the 2010 mid-term elections, count on it.
Ya’ll live long, strong and ornery,
Rajjpuut
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