mortgage-guarantee laws (1)

The acrid mixture of gunpowder and blood was everywhere. The timbers of the two sinking ships rudely joined by grappeling hooks groaned in mutual agony. Two mortally wounded sailors a Limey and a Colonist lie immobile as their life’s blood joins in the splintered deck beneath them. Suddenly, the British Captain somewhere in the smoke and fog to their left yells through his megaphone, “Captain, Do you agree to surrender your ship?”
The instantaneous Colonial reply, “I have not yet begun to fight!”
The dying American sailor groaned, “There’s always 10% that never get the word.”
Americans, Generous to a Fault,
Still Love Obama and Tooth-fairy
In a recent poll conducted by some liberal polling group, 55% of Americans called Barack Obama a “Socialist.” After three and a half years of Obama in the national spotlight that’s your best insight, my compatriots? All the evidence is there for anyone seeking the truth, yet . . . totally unwilling still to face the truth of the Commander-in-Chief’s status as an ex-Red-Diaper-Baby, my countrymen are by this suspension of disbelief very likely to sign the death certificate of the Republic.
Friends, Couch Potatoes, Babes in the Woods and other Trusting Souls these are the facts of life . . . .



In reverse order here’s what our gullible people should know but don’t. Our mainstream media needs to get real and do its job. I invite all readers to check my facts for 100% accuracy . . . .

11. Our government has been systematically lying to us or covering up for almost eight decades for example, . . . .

10. Obamacare, one law, a) creates 388 brand new government agencies b) funds abortions with federal money c) increases the deficit d) drives up the cost of health care and health insurance. All of this was easily foreseen but most chose to believe Obama.

9. In 1975 one in 404 home loans was granted with 3% or less down payment. Five mortgage-guarantee laws later, it became in 2005, 34 out of 100 loans at less than 3% down. That's an amazing 13,600% more presumably bad loans today. The progressive left have pushed our lenders into bad loans by sponsoring these ill-conceived laws. This was easily foreseeable, but we were too busy with sitcoms and, of late, reality shows.

8. The United States used to have the world’s highest private home ownership, now Canada does. Our system was not broken, but the progressives fixed us with the Community Reinvestment Act under Carter and four expansions of CRA ’77 mortgage-guarantees in ’92, twice in ’95 and the steroid version in ’98 (the last three under Clinton). We all know better than to “fix what ain’t broke,” yet we allow the politicians we elect to do it every day.

7. Barack Obama was an ACORN lawyer shaking-down lenders to make unwise loans for parts of three years 1994-1996. Once Clinton’s steroid version of the law was passed in ’98, ACORN forced banks and other lenders to make home loans to people without ID; without jobs; with only food stamps to declare as income; without even rental history; with abysmal credit ratings; on welfare; illegal aliens; and other miserable loan prospects. Anyone listening with half an ear could see that all his promises could NOT be kept; anyone inspecting his past could see he was always way to good to be true. His communism was only slightly better hid.

6. ACORN discovered by early 2003 that they could get a $400,000 loan almost as easily as they could get a $120,000 loan for an indigent client and went about it with gusto. Why?
5. Alas, it gets even more sinister. In ’66 Richard Cloward and Frances Piven published their Cloward-Piven Strategy to end poverty by creating GNI, (guaranteed national income). In ’67 these two and George Wiley created the National Welfare Relief Organization (NWRO) put their strategy into action. In eight years they added over six million people to the welfare rolls in New York. By 1975, New York City was bankrupt and needed a federal bailout. New York state just missed bankruptcy. The threesome bragged about their accomplishment even though they made poverty worse and didn’t get GNI. C &P said the next two areas to work their “orchestrated crisis” magic upon were voter registration and housing. The sub-prime lending crisis and the ensuing financial meltdown were Cloward-Pivven at work once again as you'll soon see.

4. When CRA ’77 was passed, ACORN was immediately created in Arkansas (only later would the “A” stand for Association instead of Arkansas) to work C-P Strategy on housing and voter registration. They weren’t hugely successful at first, but they did put Bill Clinton into the governor’s mansion in Little Rock for 12 years; and he became the first ACORN president in ’92. One of his first official signings was the Motor Voter Act (“a license for voter fraud according to conservatives) with Cloward and Piven standing directly behind him in the official pictures. Three Clinton mortgage-guarantees followed in the next five years and ACORN went nuts making lenders meet their silly requirements. In effect Cloward-Piven Strategy was unleashed not on NYC this time but upon the entire USA.

3. Republicans in January, 2005, saw the handwriting on the wall and tried to repeal much of the mortgage-guarantee nonsense but were stopped cold by the Democrats. In July, 2007, enough Dems came to see the truth that a watered-down version of the earlier bill was passed. It was, of course, way too little – way too late. Nevertheless . . . .

2. Last week Treasury Secretary Timothy Geithner praised George W. Bush for that 2007 law which he said prevented the recession from becoming much, much deeper and the drop in housing prices from tumbling to dangerous levels. In effect, Geithner altered Barack Obama’s car in the ditch story. You and I now know the bigger story: Obama, ACORN, and progressive Dems and Republicans pushed the car toward a 500-ft. CLIFF. G.W. Bush braked and steered the car into a controlled skid into a friendly-looking ditch.


1. The first ten problems are gnats compared to the herd of elephants in the room right next to us, because with . . . all the unfunded liabilities we face (on top of the National debt and our present economic woes) unbelievable Social Security, Medicare and the Federal Side of Medicaid obligations that amount to $112 Trillion in services the government owes its citizens but has refused to fund (which was required by law lo’ these last 76 years).


Ya’all live long, strong and ornery,
Rajjpuut
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