FACT: Obama & The Democrats Caused The Financial Meltdown
By admin on Oct 14, 2008 in Blogging, Politics, Social Media
With all of the nonsense being thrown around out there on who caused what, it has come to my attention that the very people who caused this financial meltdown are the very same people now putting the blame on ‘the free market’ and ‘greedy companies’.
What if I told you that these very same organizations are the cause!
FACT: It is the Democratic party, with it’s cronies in the Senate that literally FORCED private companies to lend to high risk individuals, with the backing of Fannie and the Gov. If they did not, then they would have been severely fined.
The following Video says it all and you can google and look up everything in it. Watch this one video and you will understand the slimy politics behind the scene. The wacky laws passed by the Democrats will also make you take notice. The second video has some of the same info but more importantly you have actual video of the Democrats and Republicans. You’ll hear the Democrats even as of just a few weeks ago sayingthat nothign is wrong and that we need to lend more money to people who couldn’t afford to pay it back. This is so ridiculous that you will get sick.
One last thing before you watch the video. Also take notice who tried to stop this disaster in 2003 then again in 2005. See for yourself who voted against the American people and who even now are running around the country pointing at the collapse. All the while knowing that they caused it.
Advice: Have a pen ready, lots of information that you can google. There is a good detailed explanation below the videos for those of you who live on internet time and who would die before you spend 10 minutes watching a video where you learn how this all took place. ( See Below Videos)
The entire financial meltdown’s origin is this:
- The Government mandated that banks must provide loans to people in the inner cities who have no credit, no money and are considered bad risks. The very people the banks refused to give loans to. (see comic above) Understand that our system worked well and the free market and capitalism works, and works better than any other system ever on earth. It is only with government interference that we get the following -
- The Government promised to prevent all expansion and create legal difficulties and lawsuits if any bank refused to give loans to people they didn’t want to and never would have given loans to.
- Barack Obama even worked for a firm that sued banks for not making enough loans. Isn’t that funny? (See video) I love how this guy goes around the country preaching economic sanity, while he helped caused the meltdown, and now does everything possible for further destruction.
- The bankers were relaxed when the government said that Fannie Mae ( the government and your tax dollars) would back the bad loans. Isn’t that like politicians? Using your money to guarantee bad loans. They would be safe to make as many loans as they wished. Bad move but now a logical one if you are a Marxist and want to destroy the financial system.
- Get it – Monopoly Money! These damned Democrats told greedy bankers that they can make as many loans as they wish as long as it were to inner city poor who are all bad risks. They said don’t worry the government backs them . You’re safe. Lie on top of lie on top of lie.
- This is the greed part. The government used the natural greed of our bankers to destroy the entire banking system , in the name of social justice. Is this sick or what? We fell for this! Don’t believe it? – watch Pelosi and other criminals on tape yourself, Second video on the following page (click here) Then come back. In fact watch both as there is some different info on each.
- The Fact is we now have put the very people who caused our entire financial meltdown in power. While at the same time blaming Republicans. Is this not the perfect storm for a Marxist planned and initiated Revolution that is now in progress as we speak? Remember this the next time you here these creatures tell of the excesses of the Republicans. It is the Democrats in fact that created and forced the CRA.
Next See:
factchecker | Oct 14, 2008 | Reply
Pardon? I distinctly remember John McCain being one of the Keating Five; one of the old precursor events to this problem. And supporting key bills that DECREASED oversight.
More than enough blame to go around, “my friend.”
Know. Your. Facts.
And the context behind them.
Charlie | Oct 14, 2008 | Reply
THis is just plain silly.
Yes, the bills that allowed this to happen were passed by Democrats.
But, the Republicans were in power when the sh1t hit the fan and could have stopped this train wreck from happening.
BOTH parties are to blame, and at the same time neither party is to blame. The problem is that banks were looking at the short term gains of the sub-prime market, and not looking into long term viability. So, like any business that sells off the long term for the short term, they are now paying the price.
Unfortunately, we no longer live in a free market economy, so these greedy banks (not politicians) are taking all of us down with them.
Courtroomdrama | Oct 14, 2008 | Reply
I think Charlie is partially right here. All of them, Republicans and Democrats are responsible. But the Democrats are more responsible as it is they who wanted everyone to have a house, even if they couldn’t afford one. Watch the video for details. What a world we live in where the party that forces banks to lend to people who can’t pay, then blames those banks for failing when the people don’t pay. Yet they had no choice as the fines would have destroyed the bank if they didn’t do what the Democrats told them to via the law.
Of anyone who comments here, no one will contest the fact that it is Obama and the Democrats right now railing against freedom and capitalism every chance they get. Since they caused the meltdown on Wall Street, I find it funny in a way.
Domino | Oct 14, 2008 | Reply
What about all of the people who have homes? It isn’t their fault that they got mortgages that they couldn’t afford? Obama and Democrats at least tried to help every American get a home. It failed but so what. How many 900 dollar toilets do we buy for the military?
If Obama can use this financial crisis to help the people, then let him do so. It doesn’t matter to me that things went bad from Obama and the Senate for at least trying to help people.
Carl K | Oct 14, 2008 | Reply
Domino: That is incredibly ignorant. Your entire comment smacks of stupidity. If Obama promises to give you $1000 and says Hope, Change, abracadabra, you will do as you are told and vote for him. The point of the video is the Democrats forced banks to make loans they didn’t want to. When the people couldn’t pay, Fannie Mae exploded and wasn’t able to guarantee anything.
The Democrats promised fines and destruction of banks if they didn’t comply with the law so they had no choice.
It’s not the poor people’s fault who got the mortgage other than knowing their own finances and not being able to pay. It is the Democrats and Obama who voted for all of the kooky finance laws that forced the banks to lend in the first place. For Obama to use the financial meltdown as he is is an abomination.
The banks, the loans, and the customer | Oct 14, 2008 | Reply
First it was that lenders ‘forced’ people into loans, now its that the government ‘forced’ lenders into giving loans…
“It’s not the poor people’s fault who got the mortgage other than knowing their own finances and not being able to pay.” Interesting statement. So aside from the fact that they knew they couldn’t pay back the loans, it wasn’t their fault to take them in the first place.
If you say to me, “You have to loan this guy $20,” and the guy says, “OK, but there’s no way I can pay it back,” how is it ONLY your fault for telling me that I have to do it when I don’t get paid back? How is it not the fault of the guy I loaned it to as well? Your whole point here relies on reductive causation–the idea that one effect has only one cause.
Which is it? A bad question, of course. As I recently heard an economist say, “The U.S. economy is pretty complex, and it takes a concerted effort to mess it up this badly.” It’s everyone’s fault–the question is, who is best equipped to deal with it now that we’ll all fu*k*d up so badly.
Chris | Oct 14, 2008 | Reply
Banks want to make loans that you can’t pay for. Well maybe the banks don’t, but the loan agents do. Why? Because they get a commission on each loan they secured, regardless of whether it was good or not.
My friend’s ex-husband works for fannie mae and he actually did that kind of crap all the time. So before you blame the democrats on forcing banks to make loans, why don’t you look inside the banks?
Jesus | Oct 14, 2008 | Reply
You shall not bear false witness against your neighbor.
Loki | Oct 14, 2008 | Reply
Vote Bob Barr
Danny | Oct 14, 2008 | Reply
Actually factchecker, even the Democrats at the time said that McCain had nothing to do with the Keating scandal.
And six years ago when Bush and the Republicans brought up what would come in the near future (right now), if Fannie and Freddie weren’t better regulated the Democrats shot it down…
SNL tells it better than me though…
http://www.hulu.com/watch/38041/saturday-night-live-washington-approves-the-bailout
Hal F | Oct 14, 2008 | Reply
I totally agree with Carl K on his comments and for the guy that posted above him (Domino) man how stupid can you get? Go look up the FACTS and stop trying to justify your existence, just say what is on your mind. Domino, wants everything for free, he thinks everyone is justified in getting everything they want, sounds like a socialist to me for sure. I was raised poor all my life, I worked hard in school and collage to obtain the things I have in life now because it was the American dream and Domino wants to ensure we all just get what ever we want, omg welcome to the new world order.
Kyle | Oct 14, 2008 | Reply
Videos such as these would like you to ignore one small thing (well, not really small), that is the true culprit of the current financial crisis. CDOs and CDSs. Better know as collateralized debt obligations and credit default swaps. These two creations by deregulated investment banks are what sunk lending corporations.
Read the following article.
http://www. time. com/time/business/article/0,8599,1723152,00. html?imw=Y
CDOs and CDSs were traded between unregulated investment banks. Let me give you a quick rundown. A Bank, such as Bear Stearns or any one else, doesnt just make a loan and pray they get paid back. They make the loan, and sell the loan with part of the interest rate to another investor who guarantees that if they borrower doesn’t pay it back, they’ll pay the original lender back. Now, before you go shouting “It was the Dem’s subprime housing that caused this” (which I’m not saying didnt have a hand), here’s what happens. The orignal lending bank packages these mortgages and rated the on an F through AAA scale (AAA being the most secure loans, the ones that are a shoe in to get paid off). These ratings were never regulated. All it took was a lender to say “Hey, instead of marking this C, lets mark it AA”. Then when the foreclosure start coming in(from those subprime mortgages), the buyers of these so called “AAA” securities run out of money. These packages got sold around and around, changing hands many times, racking up profit until the bubble burst, when the profits quickly turned to debts.
The Community Reinvestment Act, so often cited by this video, does not require a bank to make unsafe loans. That Wikipedia page he points out is incorrect. This clause, taking straight from the page of the Federal Reserve, no less, proves this.
“Neither the CRA nor its implementing regulation gives specific criteria for rating the performance of depository institutions. Rather, the law indicates that the evaluation process should accommodate an institution’s individual circumstances. Nor does the law require institutions to make high-risk loans that jeopardize their safety. To the contrary, the law makes it clear that an institution’s CRA activities should be undertaken in a safe and sound manner.”
You can read it here yourself.
http://www. federalreserve. gov/dcca/cra/
Yes, subprime loans are authorized, but banks were not REQUIRED to make loans if they could not be repayed. What happened was that shrewd banks and investors saw a loophole in the system where they could make a helluva lot of money very fast. They created CDOs and CDSs to take advantage of this. They then began seeking out as many borrowers as possible to take mortgages so they could have more of them to sell to investors. This trend continued until the bursting point of the housing bubble. The foreclosure problem is not a cause of the economic crisis, but a result of it, as banks and investors grew too greedy, giving out loans to anybody who would take one in order to make more money.
Neither party is exempt from what has happened. The only thing that matter is who is more capable of getting us out. The choice is yours, but don’t let biased videos point the way.
RedStar | Oct 14, 2008 | Reply
Dumb Republicans are all pissed off that they are going to lose the country. What a damn shame? Do you really think people will care who caused it. The fact is the republicans have the White House and will be blamed for everything bad. With the media behind the Dems as always, a revolution is at hands. This ridiculous blog will not be seen. Youtube will not showcase this pathetic video and this article will go by the wayside and be forgotten as Obama takes office. You are all pathetic creatures if you really think that you can stop the tidal wave of socialism from taking America. It is inevitable so stop fighting it and embrace equality and liberation. Capitalism will soon be a thing of the past.
P.G. | Oct 14, 2008 | Reply
I mourn for the country. The mainstream media will not let people blame the Democrats for anything. If there is even the slightest attack on Obama or the Dems, the media will hide it. I am really scared for the future of our nation.
Kyle | Oct 14, 2008 | Reply
Oops, links didn’t come out right… here they are
http://www.time.com/time/business/article/0,8599,1723152,00. html?imw=Y
and
http://www.federalreserve.gov/dcca/cra/
Frank C. | Oct 14, 2008 | Reply
Obama thinks he has the election. All over America he already has thousands of fake votes thanks to ACORN. click this and get sick and what the left has done to justice and freedom.
http://townhall.com/columnists/FrankPastore/2008/10/14/obama,_acorn,_and_contempt_for_election_law
I also mourn for the former United States of America, for when Obama gets in all bets are off. People please wake up and don’t let us fall like this. Get the word out and pass the link along as well as the video. When the curtain closes on the voting booth Americans will not elect Obama. I still have faith in the American people.
World Order | Oct 14, 2008 | Reply
I say stop the whining and let nature take it’s course. Obama has the election and the Republicans are scared little rabbits. They are scared that they will now be forced to share their money. What a shame you poor rich bastards. I really don’t care if the Dems and Obama caused the problem. What I care about is social justice and equality and with Obama in that is what we will have. America’s days of meddling in the affairs of the rest of the planet are at an end. Israel too will be a thing of the past as only America has propped that illegal regime up. Brother Obama will see to it.
rightinthefight | Oct 14, 2008 | Reply
Obama is a socialist. We do not need that failed doctrine in America. It only leads down one road and that road is nowhere near the one to freedom.
Come election time Americans will do the right thing. As another said when they are alone and voting, they will not throw away 200 plus years of freedom for an Obamanation. Read this book people before it’s too late.
http://search.barnesandnoble.com/booksearch/results.asp?WRD=THE+OBAMANATION
Joshua! | Oct 14, 2008 | Reply
I laugh every time someone gets any ‘fact’ from Wikipedia.
Joshua! | Oct 14, 2008 | Reply
Oh, and rightinthefight, Communism failed, not Socialism. Google the ‘happiest people in the world’ and the ‘best countries to live in’ and you will find Socialist countries like Denmark, Sweden and Norway at the top of the list. You FAIL at knowing your ‘isms’, and you FAIL at life, too.
Michael | Oct 14, 2008 | Reply
THANK YOU!!!!
Tom | Oct 14, 2008 | Reply
Obama isn’t the run-of-the-mill Democrat. I’m not quite sure why you are tying him with the rest of the group, he is certainly not party-faithful, nor a partisan hack like Nancy Pelosi. People don’t seem to realize that Obama is actually lowering more taxes than John McCain if you are in the lower tax brackets. If you are in the top 5%, McCain is most certainly the choice for you, but anyone else no. And Obama also wants to take measures to fight against outsourcing, shares a similar health-care plan to McCain, and has a much more moderate foreign policy, at a time when our foreign policy desperately needs changing.
Daman Conners | Oct 14, 2008 | Reply
Joshua – socialism is failing badly. Are you not seeing the turn to capitalism in not just Sweden, Norway and Finland, but Denmark and now France even has a ‘conservative ‘leader. If socialism is doing so well why is everyone abandoning it? Also, where they aren’t abandoning it, like with their ‘universallly crap’ healthcare systems, they are lacking greatly. Canada, England, France, people are dying just waiting for kidney work that they can get instantly in America, even without health insurance. So don’t come back and talk of how great socialized medicine is. They all ( all socialist countries) rely on America now for 85% and more of the research bein g done. All advancements basically now come from us. Google it. When Obnama gets in that all stops. With socialized medicine advancements will slow and maybe there are people reading this who will be dead thanks to the coming rationing of services, as is the case in EVERY socialist country. Something to look forward to huh.
Daman Conners | Oct 14, 2008 | Reply
Anyone here want to beat Obama easy? Not a joke, but I made the absolute best comment over at this article that will spin your head. It’s not a joke and it proves that Factcheck, which Obama uses on his site to refute anyone, is just wrong. Anyway read the article and click the links to see the real proof. Other than that just skip down to comments. Mine is near the bottom. You will 100 percent agree that he has ( Barack ) no common sense at all, or is a liar. There are not other possibilities and even a leftist will agree. go here – http://www.earthfrisk.com/blog/?p=99
by the way the lawsuit is still pending and discovery due on the 15th – tomorrow. Obama was ordered to produce the document ( his birth certificate) and is actually fighting to have to show it to anyone other than Factcheck, which is published by his former employer Annenberg. This is explosive and is about to shake up the election. Guaranteed even if Obama is just a stupid moron who doesn’t see right now that he can make a great public showcase of pointing to the lunatics that have ‘conspiracy theories’ about him not being born in America. Rather than just putting it to bed, he is actually fighting discovery and wants to have the case dismissed. The judge said now and he has to comply. He is still fighting it amazingly for someone who is not hiding something. It’s costing him thousands in legal fees. Would it not show common sense to show the document? Something is fishy and even a die hard Democrat will agree. See it.
Kimberly Sanchez | Oct 14, 2008 | Reply
Thank you so so so much. I was in tears by the end of the video. Amazing, astonishing, and no one can refute the facts. They invite you to google eveything and you need a pen ready seriously. It goes fast. If people see this article and video it will change minds and wake people up. Thank you, thank you thank you so much. Again thank you! I love it.
Daman you havean interesting blog. I like it but politics and comedy doesn’t mix. I bet lots of people thumb you down for the political stuff in it. Thank you too for the link to the birth certificate article. No one can argue that Obama either has zero in common sense or is lying if they read that article and your comment.
admin | Oct 14, 2008 | Reply
The following comment was meant for this article: http://www.earthfrisk.com/blog/?p=99 Sorry for the mixup!
DaMan that was beautiful. If you put it that way, who can argue the point? I don’t think it is possible because even a loyal Democrat knows what is common sense and what isn’t. It makes perfct sense to submit to discovery which is tomorrow before the debates by the way. Hint to McCain’s people or any conservative who knows him. This can turn the election if Obama tries to circumvent discovery tomorrow. this is majorly big.
If he has common sense and his people are even half decent with strategy which I have to believe, they should be pouncing on this for a free massive public outcry against the crazy McCain supporters. Who can argue this pont at all? Someone please tell me who thinks it’s smarter to do the Obama route and fight this to prevent anyone from seeing the document and costing him lots of $. Who here who is a Dem has some common sense to agree with us that Obama should either take advantage of the conspiracy nuts, or he shows himself to be a fraud. If he fights the judge further, McCain must bring this up in the debate, if even as a joke to ask Obama why he isn’t showing common sense to get rid of the conspiracy nuts? I would think if this goes public and people realize that Fact Check is just wrong and in addition possibly biasd due to the relationship Obama had with the owner of Factcheck Obama will be in trouble.
AzJester | Oct 14, 2008 | Reply
lolol @ the people who fall for this hook, line, and sinker.
Yes, Democrats are guilty.
Yes, Rebuplicans are equally to blame.
There are a few Rebublican types that think this is their smoking gun.
This whole charade couldn’t have gotten this far without the support of the Republican party over these last eight years.
You people are f-ing morons. You think this isn’t by design?
You still believe in a two-party system?
Grow up, Man. Santa Clause, the Easter Bunny, the Tooth Fairy, and the Two-Party system don’t really exist.
Dumba**es.
Patrick | Oct 14, 2008 | Reply
Socialism is strangling parts of Europe. You can’t trust everything you read. They pay more than twice what we pay for gas. The taxes are out of control. Socialism will cause people to become complacent and societies will lag behind others. Socialism sounds like a good deal. It’s not working in Canada and it’s not working in Europe. America has maintained it’s competitive edge because of capitalism. If we move toward as socialist society we will lose that edge. Look at the rust belt. Democrats have decimated the economy there. All socialism will do is initially bring the quality of life for the poorest up for a little while but it will eventually cause every ones standard of living to decrease. Remember the riots in France. There unemployment rate is out of control. Unemployment benefits are at such a ridiculous level that the government has problems keeping up with them. We only need to look across the Atlantic to see how socialism is failing. Don’t believe everything you read on the internet socialism is simply evil.
pat | Oct 14, 2008 | Reply
this is a disgraceful movie showing the underbelly of a dark rpublican campeign
john Nobama | Oct 14, 2008 | Reply
Factfudger, Keating 5? Gee, what wast the outcome? McCain was found innocent? Wow, get your facts right. Are you scared that It will come to light that B.O. (barak obama) voted to for subprime mortgages and that his buddies Dodd and Frank are still in power after destroying our economy and the worlds economy?
Kyle | Oct 15, 2008 | Reply
“Are you scared that It will come to light that B.O. (barak obama) voted to for subprime mortgages ”
Your point being? Again, the CRA did not FORCE banks to secure subprime loans. Straight from the Federal Reserve website: “Neither the CRA nor its implementing regulation gives specific criteria for rating the performance of depository institutions. Rather, the law indicates that the evaluation process should accommodate an institution’s individual circumstances. Nor does the law require institutions to make high-risk loans that jeopardize their safety. To the contrary, the law makes it clear that an institution’s CRA activities should be undertaken in a safe and sound manner.”
You can read it yourself here: http://www.federalreserve.gov/dcca/cra/
The fact is, no one is specifically to blame here other than greedy banks performing shady business. Yes, there could have been more regulation, but if you read what I posted above, it was specifically the loans themselves that sank the banks, because if it were JUST the loans, only the lending banks would have sunk. Just read what I posted above and read this Time article: http://www.time.com/time/business/article/0,8599,1723152,00.html?imw=Y
As I said earlier, just because subprime mortgages were given as an option doesn’t mean that the CRA which approved it FORCED banks to use them. That wikipedia page in that video is edited to show incorrect information about the CRA mandating banks to do this. And for the record, it was a REPUBLICAN-controlled house that passed the updates under the Clinton administration. Both parties screwed up. This video is nothing more than a partisan video using the facts it wants, throwing out the facts it doesn’t, and filling in the blanks with facts it made up and facts that have no direct correlation to the given problem.
Yes, you can google these facts, and every link the video maker proposes comes up first. Why? Because google orders pages based on number of hits. Most of the subjects searched as a result of this video have low hit counts and have moved up the search order because of this video.
Don’t believe everything you see on the internet, just like your parents told you not to believe everything on TV.
AzJester | Oct 15, 2008 | Reply
As far as I can tell, these “parties” each have their own contributions to socialism.
The Dems might have pushed us into an economical abyss… the Reps have long since stolen the freedoms that we would rely upon to climb our way out of it.
Two parties? I don’t see two parties anywhere… just one enormous orgy.
Hal F | Oct 15, 2008 | Reply
AzJester: Sad as it may seem you are correct, the two party system is dead in America, if you vote for the Democrats the Republicans you are voting for the same person, Satan. If you read the comments above and can discern for your self the truth then there are those of you out there that will known the truth. But, then there are those that weigh in and there lies and deceit about the nations and there falling away from the truth is all controlled by the one nation. The beginning of all this will justify the end, and the 2nd coming will be a winner take all and the outcome has already been decided. There failed attempt to overthrow the one and true ruler of this great world will come back and redeem his true bride. Here this warning great nation for the end is at hand and the tribulation will soon be upon us. Thus saith the Lord of Lords for he is the beginning and the ending of all things to come.
shunha7878 | Oct 15, 2008 | Reply
Obama is not a Socialism, He is a Marxist. Let try to get this straight as we head to the white gulags.
AJO | Oct 15, 2008 | Reply
It’s truly amazing how people are blinded by ignorance and don’t open their eyes to facts. This is absolutely one of the most ignorant things I’ve read while here in the US. At least in the UK, others read and find out what is going on before acting like rubbish and throwing un-backed assumptions.
Admin Adds: What is ignorant? It is a fact that the Democrats forced banks to issue sub-prime mortgages or be heavily fined. They were backed by Fannie Fake securities. The banks didn’t want to lend to these people to begin with . That’s why they call them high risk. The government forced it, things went bad and now the Democrats are pointing to a ‘failure of capitalism’ . Does this not smack of stupidity? They cause the failure then blame the free market for that failure, resulting in more government control and a possible President Obama. Beautifully done by the left but the people are seeing through it now and Obama will be defeated. His only hope once it all comes out is his thousands of fake votes that he is now getting from his buddies at Acorn. Google Acorn voter registration scam and see what I mean.
WTF America | Oct 15, 2008 | Reply
Obama isn’t long for the political process. From forging a birth certificate to trying to blame the Republicans for the mess the Democrats made, it truly is an abomination. Or rather Obamanation which is the title of an excellent book on this fake messiah. You have to hand it to the Democrats for their ‘audacity’ as usual. The whole left wing crowd can be summed up by this slogan.
Defeat America, Vote Barack Hussein Obama.
JW Morrison | Oct 15, 2008 | Reply
With Obama you will get socialism and more. Does anyone here know that when Obama first ran for state senate that he ran as a member of the Socialist New Party?
As far as Obama winning, as it looks, if McCain doesn’t come out fighting in tonight’s final debate he can kiss it all goodbye.
If Obama wins, the world will go on and we will have to eat sh*t but perhaps it will wake up the world to guaranteed union corruption, more recession because business will not want to invest, nor will the rich, the demonization of capitalism, and a weaker country. Perhaps then people will wake up, but as long as the bottom 30% of Americans who think that they are owed the better things in life then we had better get used to this changing America.
truth | Oct 15, 2008 | Reply
How can it be republicans fault when they were being ripped to pieces by Gregory Meeks and Maxine waters for being racist for wanting regulation
worldorderscheisse | Oct 15, 2008 | Reply
World Order, if you think an Obama presidency will end so-called American meddling, think again. Better yet, study your socialist philosophy a little closer.
It is socialism that requires global expansion to survive. Pockets of socialism cannot thrive unless they find ways to expand. It’s a predominant part of Marxist and Leninist theory. Unless you have come up with answers to this particular question, you’re better off finding a way to earn a living.
As for your social justice ideas, get a job instead of trying to grab what others have earned.
jon | Oct 15, 2008 | Reply
This content is ridiculous. First you tell us to google information, but there is no way to verify if the information we “find” is strung together properly to form a coherent narrative of what actually happened. For example, Obama wasn’t even in the political arena when half of these events took place. This video is bunk and may I just say, earthfrisk, a fairly shallow way to paint the democratic party. As a (sometimes) republican voter, I’m pretty ashamed of your blog. Please don’t give in to hype and trying to get a bunch of people to read your blog – they’ll come if you put up reliable and credible information.
rockyron | Oct 15, 2008 | Reply
Well I’m going to throw in my 2 cents worth; Does anybody remember a ding-bat,scum ball,puke of a singer named bob dylan? That poor excuse for humanity sang a song years ago that told the truth ,if you can believe that.The song was (The Times They are uh changin) and they did!!!!!!! What the load of crap didn’t tell us in the song was the times would be changing for the worst.who is preaching change NOW????Hum,If OBAMA gets in , just count on it, the times will get worse and FAST.
Hilarious | Oct 15, 2008 | Reply
Does anyone else find it hilarious that Obama himself worked for a a lawfirm that sued the banks as like Citibank for not issuing enough sub-prime risk loans that caused this mess? It’s in this video with names. I find that one point something I bet Obama runs from forever. He and his ilk did this and now try to blame Republicans. It is indeed a scary world when this scam of Obama might even work. he is still ahead in the polls with only weeks away. Can we have our first complete scam artist in the White House soon? If you think the stock market is doing badly now, wait till January. Anyone want to make a bet? I am pulling out of the stock market 100% and going into cash if Obama wins the debate tonight. Since he already won the debate tonight no matter what is said in the debate according to the media like CNN and ABC and NBC he actually has to win by a large margin. This isn’t funny anymore.
David | Oct 15, 2008 | Reply
Red star: You talk about Socialism,and I will add Communism as they go together hand in glove.
Communism has NEVER WORKED ANYWHERE IN THE WORLD IT HAS BEEN TRIED! Socialists talk of the Perfect Society created by Communism. Ha,WHAT A JOKE!
COMMUNISM IS THE EQUAL DISTRIBUTION OF POVERTY,TERROR,AND MISERY FOR THE VAST MAJORITY OF NORMAL PEOPLE THAT THE COMMUNIST TYRANTS RULE OVER
WITH AN IRON FIST! I have listened to HUSSEIN OBAMA ALL I HEAR IS THE SAME OLD LIE’S (PROMISE EVERYTHING NEVER INTENDING TO DELIVER ANYTHING). I GUESS YOU THINK YOU WILL BE AT THE TOP WITH THE RULERS, I WOULDN’T HOLD MY BREATHE IF I WERE YOU. EQUALITY AND LIBERATION FOR WHO!!!
Sad For my country | Oct 15, 2008 | Reply
This is how liberty dies then. One candidate backed by every enemy America has, both foreign and domestic. With the aid of the media, he is the good guy. His side with his help caused economic disaster and now he campaigns on how he will bring fiscal security. This has to be the most insane election in history.
David, give it up on Redstar. Such people are not rooted in reality. It saddens me how people never learn.
Hilarious made a great point, Obama himself worked for the firm mentioned in the video and sued Citibank for not offering more bad subprime loans against their will. Is that a kick in the ass or what? People even in comments here keep missing the whole point.
WisconsinGuy | Oct 16, 2008 | Reply
Perfect. Another failed attempt to create a viral uprising against a solid presidential candidate. You jumped on the bandwagon too late, however. Everyone has already learned not to trust what people like you are saying on the internet. You should’ve tried posting some anti-democratic blog about 5 months ago, it would’ve had a bigger impact on people. Nice try though.
Stop Socialism | Oct 16, 2008 | Reply
Wisoncinguy don’t count America out just yet. Obama is now a confirmed socialist as well. see http://www.earthfrisk.com/blog?p=102 for Amazon.com’s take using their internet archive. This is what Obama has against him, if you ask Americans if they would ever vote for anyone who was hiding the fact and denying that he was a Socialist. They answer NO and the vast majority answer this way. This is going to everyone I know, 800 people in my facebook group, 300 e-mails, everywhere. This is how we take down the deception of the Obama campaign. The people cannot be stopped from knowing the truth no mattr how hard MSNBC tries with the help of the idiots on Digg or Reddit. Americans do now want socialsm, never have and that is why Obama is lying about it.
LJames | Oct 16, 2008 | Reply
Wow, I can’t believe I just watched a whole video about the economic meltdown without a single mention of Credit Default Swaps. I feel like I’ve entered ideological bizarro world.
Whoever made this, and whoever passes it on, has no concept of how the market actually works.
Absurd.
Max | Oct 16, 2008 | Reply
Are you insane? Maybe you also think that Democrats forced Bush to nationalize the banks last week…. or made him invade Iraq…. or made him let bin Laden escape…. or twisted McCan’t arm until he picked a moose-mom bent on dissolving the United States for a VP….
Aroleflin | Oct 16, 2008 | Reply
Hey fact,
Check out the New York Times article from 1999 that is on the internet that illustrates Bill Clinton’s obstruction of any questionable conduct and dealings of demo’s in congress related to the sweet-heart deals taking place with Fannie Mae and Freddie Mac. Clinton and the marxists now in congress have blood all over their hands for this economic crisis. Now it is a proven true fact that Obama was a member of the New Party Socialist party in Illinois. This country will not allow a socialist to sit in the oval office.
Aroleflin | Oct 16, 2008 | Reply
You are confusing happiness with being unmotivated. I can’t remember what, if anything the countries you mention have ever contributed to the world that is renown….save for tourism.
Aroleflin | Oct 16, 2008 | Reply
This economic downturn is reflective of the lack of confidence of the people of this country who contribute the most to it’s success. That confidence has been shattered by Obamamunism and the marxist wolves in congress. Pelosi, Reid, Barnie ‘Rubble’ Frank and Dood. They are the wolves with feathers hanging from their mouths complaining to the farmer that he forgot to lock the chicken coup.
Sons of Liberty | Oct 16, 2008 | Reply
To WisconsinGuy,
Its never too late to hear the truth. Its not anti-Democrat, its the TRUTH! Im sorry that Liberals cant stand to look at the truth, because they know that it will destroy all of what they have stood for.
If THEY can take away our news media, if THEY can lie about what was the past and go unquestioned…. what else will THEY do? What else will THEY take away?
“Liberty, once lost is lost forever.” John Adams
“All that is necessary for the triumph of evil is for good men to do nothing.” Edmund Burke
Ron | Oct 16, 2008 | Reply
Articles like this are too few and far between. The mainstream media has been lying to Americans by spreading the same malarkey the Democrats have been feeding. Deregulation isn’t nearly the problem. McCain was never really part of the Keating Five (Four actually). Thanks for being a partner in a small sect of real Americans who seek to spread the truth.
Loud Patriot | Oct 17, 2008 | Reply
Gotta love the reichwing. Heil Bush – God Save the King – Hail to the Chief
Loud Patriot | Oct 17, 2008 | Reply
As usual the ignorant reich can’t do any real research. Smears, lies, hate, and fear. Smears, lies, hate, and fear. Smears, lies, hate, and fear.Smears, lies, hate, and fear………………..
Barack Obama Has Never Been a Member of a Socialist Party
The Smear:
In yet another desperate and transparent attempt to “radicalize” Barack Obama, right-wingers have fallen back on the tired, old tactic of red-baiting by falsely claiming that Obama had been a member of a socialist political party.
The Truth:
Barack Obama has never been a socialist, and was merely endorsed by a left-of-center community organization in the 1990s based on his platform of better child-care, welfare reform, and health-care reform. The organization came to Barack and endorsed his mainstream progressive platform.
That group was called the New Party, and it supported him in the Democratic primary for the Illinois State Senate twelve years ago. The New Party was a progressive organization formed on behalf of labor unions and community organizing groups in the 1990s, and Barack Obama was never a party member—he has always been a Democrat. In fact, the New Party now exists primarily as the Working Families Party, which has endorsed (or “fused”) its ticket with both Democrats and Republicans on various ballots, especially in New York State. The WFP touts as its goals, “an economy that works for everyone, where politicians put working people before CEOs, and where basic rights like access to healthcare or time off to take care of a sick family member are upheld.” Not a particularly radical stance.
It seems almost a throwback to the Cold War to accuse someone of being a “communist” or a “socialist,” but that’s what the party of McCain is currently doing. The truth is that Obama has won the support of people from all over the political spectrum throughout his career, including that of some progressive activists who wished to join him in improving their community. Some people are apparently uncomfortable with community activism and mainstream progressive politics, but that’s all this is.
Start fighting back against this smear by telling your friends and family the truth.
(http://truthfightsback.com/site/smear/290)
Heil Bush – God Save the King – Hail to the Chief
Omalley | Oct 17, 2008 | Reply
Starting with the Community Reinvestment Act of 1977, that was given more teeth during the Clinton administration, Congress started intimidating banks and other financial institutions into making loans, so-called subprime loans, to high-risk homebuyers and businesses. The carrot offered was that these high-risk loans would be purchased by the government-sponsored enterprises Fannie Mae and Freddie Mac. Anyone with an ounce of brains would have known that this was a prescription for disaster but there was a congressional chorus of denial.
For the full article by Walter Williams se this link. THis is told about in the video that some seem to want to deny here.
http://townhall.com/columnists/WalterEWilliams/2008/10/08/lessons_from_the_bailout
Tommy Brazelle | Oct 19, 2008 | Reply
Let me state it from the get go.I love slop peddlers.If your boy(Mr Pumpkin face/heart troubled)if you can’t win fare cheat lie defame and acoustic treatment is your only way.I truly feel sorry for you and worse for those to dull or unable to read and think that some one else is better to think for them.
When was it that the Dems.destroyed our safe moneys?Excuse me but the Dems.left the country will a surplus of capital funds.Take 8yrs.and two wars that were illegal in the first place.Had their neo-con millionaire buddies cleaning out the public and you have the nerve to open your mouth and let that venom roll out.Please forgive the thoughts that are in my head God for I know that a thought is as wrong as the words.
Larry | Oct 21, 2008 | Reply
All of you cry so well one would think that if an answer came you would be in on the first but that’s not true is it. There is even more going on than any of you see.
Your preconditioned small view is so like the American.
IF YOU WANTED TO GAIN CONTROL OF A WORLD POPULATION, HOW WOULD YOU DO IT?
1ST- eliminate racial divides
2nd- level the classes
3rd- destroy cultural bounderies
4th- remove country’s borders
The way to achieve this is to promote the 7 deadly sins.
GREED, SLOTH, PRIDE, LUST, ENVY, ANGER, GLUTTONY
Use the weakness of man against himself.
And don’t forget to give him FEAR.
This is the creed that will allow man to destroy himself.
John | Oct 23, 2008 | Reply
I see in these comments what people need to do in the election:
LOOK IT UP THEMSELVES!
There is plenty of blaim to go around. One party may have passed the bills but the ohter let is go unchecked an so forth.
And btw: Just vote well informed. I don’t care who you vote for (as my granny said once) as long as you vote.
Fosterchild | Oct 30, 2008 | Reply
LAZY!!!!!!!!!!!!!!!!!
thisisdumb | Nov 1, 2008 | Reply
At least the top 3 posters knew what they were talking about.
This is a bunch of spin twisting truths in order to blame somebody.
It’s pointless, and has nothing to do with the candidates.
Stop dwelling on the past. Use it as a reference to not screw up again.
John | Nov 2, 2008 | Reply
Well this may be true, but the bail out plan was George Bush’s idea and both senator McCain and Obama supported it.
Now take it anyway you want but, we’re already a socialist nation no matter who wins the election.
Don’t worry your not rich well maybe you are in that case panic, we are coming for your money.
Jesse | Nov 13, 2008 | Reply
Last time I checked, when Clinton and the democrats were in office, the unemployment rate was at about 3 percent. Now that Bush and the republicans are in office it is at 6.5 percent. It’s kinda hard to pay your bills without a job.
Captian | Nov 13, 2008 | Reply
So many fools. I’m glad Obama Won. YAY!!! Good for him. I wish I could speak a lie good enough to make the truth so obscured that no one believes it any more.
Obama is a rookie. He has nothing that shows he will be a good president except for he sure can rile up a crowd for a two minute hate.
You might be a bad president if
You pander to political radicals…
You make your party look clean after butchering the economy. WTG Dems!!!
You promote programs that would never work.UHC
You don’t feel any compulsion to salute the flag. Happy Vets day!!!
You don’t do anything significant leading up to election other than telling Germans that America is going to change. Original.
FDR started Social Security. I’ll never see a DIME(FDR is on the DIME) of what I put in. I thank you FDR I’m 20 and pay for old people to go out to breakfast. Look at the VA the second place consumer of funds and it still sucks, yes I cannot wait for government run health care expand Socialism I hope food is our next “Right” that I have, Ummm… Soylent Green Yummm. America is a bastard of its one great status. After 1910 this country was far gone, and now we swim in a tepid pool of filth. There is no freedom; it is an image on the wall of the cave of which you are tethered. Wake up your rights barley exist. In any situation your ability to understand and exist is on the fringe of perpetrating some BS rule or reg. So quit sucking on the purple drink that Obama is handing out at the people’s temple of Change. This will be our worst president and I do not wish you well President Elect Obama, I do not wish you well. Unlike John McCain I would lift a finger for you, you have not done anything to warrant such. I know you are going to make 43 look like a Honorable man.
John | Nov 16, 2008 | Reply
Liberals would have a hissy fit if Republicans stopped the concept of lending to people who can not repay the loans. That of course would be unfair! Rich people should not be allowed to buy things the common person can not have, we must loan to everyone.
HOWEVER, math does not lie! It takes money to make the equations work out and if you can’t pay, you can’t afford it. Liberals live in fantasy, math is reality.
SO WHAT? Answer me this. Why is no one talking about raising the minimum wage? Without wage increases it will take forever for people to pay off their debts and without wage increases they will never be able to pay off their mortgages. YES, tighten lending standards (and liberals will scream UNFAIR) but until you raise wages, the equations will never balance.
Barry Obamr | Nov 23, 2008 | Reply
Jeez, somebody call a WAHambulance! quick!
Would you like some cheese with your whine?
Would you like a tissue for that issue?
rimshot please,
I, for one welcome, our new SOCIALIST overlords.
brad | Mar 2, 2009 | Reply
Hal F.
Smart, but I really don’t like the slandering of Novus Ordo Seclorum (New World Order). As we all know, this is a saying on the back of the one dollar bill. The correct translation is new order of the ages and it is a reference to the new order of democracy which was created by the founders of America when they forged this republic. It was truly a new order of the ages, spawned out of the revolutionary ideas of the enlightenment. It in no way deserves to be associated with the socialist bullshit that is overrunning our country today.
Moreover, I think it is quite obvious that the financial whole that America has gotten itself into is the result of trying to mix socialist idealism into logical capitalism. The only way now to save ourselves is to let the market do its thing, freely. That is why it is called a free market. I say let the automobile makers die, let the big time businesses die, screw building a damn bullet train, do not shut down gitmo, let those who have failed go the way of the dodo so that new entrepreneurs with a zest for success can rise up and remove those complacent assholes who only have taste for cheating and bad business.
It is the nature of man to be free, and with business being a permeation of that freedom into our dealings with one another, let it be free as well. Let freedom reign.
AL | Mar 14, 2009 | Reply
Hey, “Factchecker,” do you not recall that McCain was the only one of the Keating 5 who was found NOT guilty of screwing up?
Also, while you are checking facts, please cite one or more regulations that were deleted by Republicans. The only one I can recall is in 1999 when the distinction between commercial and investment banks was eliminated.
On the other hand, the Republican congress enacted Sarbannes-Oxley (fact-check my spelling, dude) in 2004, a major new financial regulation.
While fact checking all this, you should see the amazing video clips of major Democrats (Waters, Meeks, et c.) ridiculing Bush admin people who were practically begging for the regulatory authority to prevent this. Many of these clips are as late as 2008.
Then the ultimate fact-check: Read the 1993 CRA. Look particularly for the sanctions and quota formulas for sub-prime loans. You’ll be fascinated. May even “eff up” your present political loyalties.
Mark | Jul 18, 2009 | Reply
And I do believe it was McCain in 2006 on the senate floor promoting a bill to reign in Fannie and Freddie, which Franks and Dodd voted against (and Obama voted ‘present’).
scott | Aug 9, 2009 | Reply
The time has come for all of us democratic or republican to stop the infighting (this is what they want us to do is keep fighting amoungst ourselves)It is time for Americans to stand up and fight this disease that is overtaking our country.there is plenty to blame on both sides of this coin,however this is not the time for that, now is the time for all Americans to set this country back on it’s proper course and send a clear message to our Govt. that it is we the people that are in charge and we the people have had enough .For those in our Govt. that think we as americans are not smart enough to govern ourselves they need to pack there bags and get the Hell out of Our country!