There are many layers and elements to this economic free fall. Most economists seem in agreement that the crisis stems from 10 years of unregulated dealings within insurance, real estate and banking industries, focused on opening mortgages to those who essentially did not qualify and were obviously not going to be able to keep up their payments.
Greed can certainly be a focal point as the motivation to absorb billions in bad mortgages. But, the heads of these companies, economic experts, those who head the various housing/budget/finance committees on the Hill - they may not be brilliant, but they are not stupid. Writing was on the wall at the getgo - though disregarded.
So how is it that a plan so flawed and dangerous has managed to survive over 10 years, with all downward indicators showing up as much as 4 or more years ago? Think about it - It is Democrats that are all for regulations and government involvement, yet it is Democrats who have blocked calls for regulation and oversight - over 2 years ago. WHY?
Here is what I believe is going on. First background - the climate of this country has become far more divided on most every level, but certainly politically. We are now a contingent of far more liberal people, far more conservative people, and within both segments, disgruntled people who are disgusted with both sides of the fence, so have placed them in the middle as Independents.
Everyone is angry. Everyone is doing the blame game. And because the far left and far right are pointing in the opposite direction, the details are getting lost in the muddy water.
Some issues within those muddy waters are that bad policies have been compounded with more bad policies. Those in position to give a shout out have opted to remain silent, or turned away so they can claim they did not really 'see'. Some have used the muddy waters and lax observations as a time to feather their nest - to what degree we will be long in discovering. (We know Dodd, Franks, Obama and a few others have taken more than a reasonable share of such feathers).
But it is Liberal Democrats who have repeatedly blocked efforts to create oversight, to limit actions of Fannie and Freddie, to not put back into place earlier laws that Clinton abolished.
If one listens carefully to what is being said, and by whom; if one looks at what has been going on over the last 20 or so years, and at whose behest and/or sanction; if you watch world trends; and if you listen intently and read between the lines to what our politicians are saying in recent months (including candidates) - there is a subtle trend, and a web of concepts that seem to have a theme and intent.
As but one example - ACORN. It is a multi-layered company that among other things has government contracts to build low-income housing around the country. But they are also a conglomerate of so-called non=profits that are under government contract to register voters. They have been under legal attack for fraud for over 10 years. No one knows for absolute sure just how much taxpayer money, or government money they are getting, because they are paid "on" and "off" budget, but it is estimated to be in the hundreds of millions of dollars, if not billions.
Acorn has a MAJOR PAC and contributes to Dodd, Barney Franks, Obama and others. Disregarding Obama's many years with that company (trainer, legal counsel, spokesperson, and campaign organizer, and funneling funds out of the Woods Foundation to Acorn), Acorn has undergone numerous state-initiated lawsuits, many more pending. Now having offices in Ohio and Nevada raided this week, with copious amounts of documents proving fraud.
Acorn has its slimy hands into all aspects of our financial crisis - they have conducted a campaign of intimidation to banks to force them to issue more sub prime loans. Intimidation included scaring away customers in bank lobbies, breaking into offices, threats, protesting at banks etc.
Acorn had trouble getting loans, so its lobbyist went to the House and Senate (Franks, Dodds and Obama) to request that Fannie and Freddie back their loans. Acorn has amassed billions of dollars from its association with Obama, Dodds and Franks among others, as a result of absurd but favorable actions on the part of those 3 and others.
Several Congress people have made an official request to Barney Franks (heads the House Finance Committee) to hold hearings and investigate Acorn. Franks has flatly refused, and in fact has told Acorn to keep on keeping on. The same Congress people have requested that federal funds to Acorn be withdrawn, and again Franks and Dodd refuse to have the issue raised for consideration.
Gee, I wonder why?
But I digress - it is just part of a long-time trend. So let me suggest one possibility here - hopefully one you will think long and hard about. What if there has been a long time agenda on the part of Liberals to set certain factors into place and wait for the 'right time' - a time of economic crisis, when government intervention is prompted, and then press rapidly forward to see that government intervention takes place? What if the basic motive is to take the USA into Socialism - fully, totally, without a backward glance?
The signs are there. The crisis exists. The government was forced through fear into distasteful and immediate action. The leading candidate for President has already shown signs of his move toward socialism. Many members of Congress (both houses) are in line with Obama, and socialism. Many actions have been taken under the radar to move us into socialism.
There is talk of a revolution. People are not just angry, they are furious. So a potential revolution would require guns and ammo, and it is now clear that one of Obama's first moves would be to overturn the Second Amendment - right to bear arms, by outlawing any and all guns.
Yes the country is in a mess. Yes we need change. Yes we need to clean up Washington - probably the greatest need ever, in our history. But dear reader - the choice is stark and disparate - when you go to the polls you are choosing Freedom or Socialism.
There is NO quick fix to our problems, that have been decades in the making. But, and this is the biggest word I can emphasize - if this country casts a vote for Socialism you are casting off our history, the lives lost in protecting us and our freedoms, denouncing our Constitution (which would be thrown out), giving up your personal freedoms, and assuring a stagnant no-growth economy. All of the so-called 'freebies' Obama promises come with a HUGE irreversible price tag - taxes, bigger taxes on everything and everyone. The rich - gone. And with them will go investment in product development, innovation, investment in the stock market, small business, donations to non profits, support of local communities (arts programs, educational programs, infrastructure that corporations and companies now sponsor).
We will be asked to 'overlook' our differences (which are VAST) and accept a common denominator that may elevate some (temporarily) but lower most to that level. We will become a country of mediocrity.
The alternative - freedom - is the lifeblood of this country. It is what we stand for now and always. It is what we have lost hundreds of thousands of lives for over time. It is what made this country the greatest, most innovative nation, and the most successful. Yes we have lost our way. We have allowed some in Congress to encourage companies to go offshore to find cheaper workers and resources. We have allowed them to pit our middle class in direct competition with Third World countries. We have turned our manufacturing (the ultimate strength in any power-based country with strong military) to other countries. With each of those giveaways we have weakened ourselves to the point that we have allowed the basics of this economic catastrophe to happen.
Following 9/11 this country stood tall, as one - Americans. Angry and united to make things right, to not let the bastards get us down. If we don't reach into that part of our souls NOW, the bastards will have won and we will be a weak Third World country beholden to the rest of the world, who don't give a damn because we can't do a damn thing for them anymore.
It is a clear choice - forget promises, plans lacking detail, budgets, accusations - it is down to basics - FREEDOM OR SOCIALISM.
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