True American Terrorist Threat – Barack Obama’s Billion Dollar BackersForgive my politically incorrect attempt at a Title which I hoped would entice you my fellow Americans to read this critical essay.
Barack Obama and his Billion Dollar Backers following John McCain and Sarah Palin holding a lead in every credible national poll two weeks ago, just pulled off the greatest staged financial crisis advertising campaigns in the history of America.
Please read the factual truth on why a “Rescue Plan” for our Financial Sector was indeed necessary yet held hostage for purely “Political Reasons” while America’s ransom “Bailout was developed.”
Hold your outrage over this “Bailout Act” for a moment.
I promise you by the close of this essay, there will be a very appropriate way to focus our mutual anger.
What “We the People” are not being told about the current Financial Crisis is the Historical Truth.
The true cause of America’s all too Real Financial Crisis isn’t simply “Pure Greed” on the part of the Financial Sector which for once both parties are now finally admitting, it can be traced to “NAÏVE” social and environmental federal legislation.
Social and Environmental Legislation – well intended – but unquestionably the cause of Trillions of Dollars of Expense to our Economy and the loss of tens of millions of formerly high paying jobs for the middle class.
The real cause of the Financial Crisis in America can be traced to:
Environmental legislation which imposed Trillions of dollars in expense on everything from our Industrial base to our infrastructure such as water & waste water treatment.
Forget the fact we could spend the next month reviewing Bill by Bill how “Green Legislation” Congress forced America’s Industrial Base to comply with destroyed tens of millions of jobs.
Everyone agrees, the Global Economy paying its workers pennies and not burdened with the cost of production being environmentally friendly largely destroyed our ability to be price competitive.
You are far too wise to waste time attempting to argue the reality that.
Today’s economy has been reshaped due to this countries decision to become responsible stewards to our environment.
Hindsight is 20/20 and few would disagree, had America understood how regulation of our Industrial Base would cause its collapse, that legislation would have been crafted more effectively and our Trade Deficit would not be what we face today.
You see, I learned these lessons the hard way.
I have never left Pittsburgh where is was born in the 1950’s.
I have watched “Green Legislation” turn our skies at noon from gray to clear.
I have watched “Green Legislation” turn our rivers from brown to the home of one of the country’s largest fishing events.
I have also watched “Green Legislation” destroy over a hundred thousand jobs in the Steel Industry.
I have also watched “Green Legislation” send my classmates across the country to find jobs as our local economy lost our Steel Industry.
I have also watched my home become the 2nd oldest SMA in America and Pittsburgh become one of the lowest per capita cities in this country.
In Pittsburgh, we like you do not ask for handouts.
This weekend we celebrated our 250th birthday.
We will survive and thrive again.
We will thrive again if We the People of these United States defeat the latest Terrorist Attack on our mutual American Dream.
We cannot turn back time.
We can thought spread the truth about the other major cause of today’s Financial Crisis which actually began in 1997!
The Community Resolution Act of 1977, a Carter Administration Program with the intent to help low income families and minority based small business obtain private sector funding for homes and startup operations is the most accurate starting point of today’s financial crisis.
One of Barack Obama’s leading financial advisors – Franklin Raines was President Carters 1st Director of the CRA 1977-1979. Raines later was Clinton’s Director of the OMB during his second term.
Raines was a member of the Clinton Administration’s Inner Circle when his 1997 legislation passed allowing lenders to lower equity and income standards for borrowing as well as broadening the scope of those qualifying for Sub-Prime type lending.
Today’s Financial Crisis caused by Sub-Prime lending began in the late 1970’s my friends.
Today’s Financial Crisis caused by Sub-Prime was accelerated in the late 1990’s my friends.
But what cannot be forgotten is today’s Financial Crisis of liquidity was similarly dealt with in a bi-partisan legislation passed in 1989 called the RTC or Resolution Trust Corporation.
Granted his bill which took 6-months not 8 days to be crafted and voted upon had a more narrow focus dealing with the countries Savings & Loans.
President George H. Bush working with a Democratic Congress enacted the RTC which adjusted for inflation in terms of Gross National Product represents if not a similar Federal Bailout actually a larger influx of your taxpayer dollars to the private sector.
The results of the RTC enacted under President George H. Bush remain a “Secret” which Democrats refuse to acknowledge.
My friends, the taxpayer dollars we provided to fund the RTC actually put more money back in the Treasury during the Clinton presidency than were ever allocated before the RTC was dissolved.
While the other party likes to paint the Savings & Loan Crisis as a result of a Republican push to deregulate, the route cause was like today underperforming loans both the result of speculation by special interests concentrated in growth areas of the country and interest rates increases due to a lack of capital.
Today’s Sub-Prime Financial Loan Crisis was caused by “Naïve” legislation which caused the 80’s S & L Crisis lowers lowering lending equity and income standards.
The 6.9 Million Mortgages – We the People – have been told by the Media which are considered non-performing or under-performing can to a degree be considered partially the fault of every American who signed a legal contract promising to repay these loans.
The 6.9 Million Mortgages – We the People – have been frightened into believing threaten to leave tens of millions of American’s homeless and bankrupt can be blamed on “Predatory Lenders who turned Trillion of Dollars in Profits”.
Yet those same 6.9 Million Mortgages cannot be denied to have been “legislated and judicially enforced into existence.”
Sen. Barack Obama working for a high profile law firm in the 1990’s,
“ Miller, Barnell & Galland” was one of many young attorneys whose firms sued lenders such as Citibank for not complying with the Community Resolution Act of 1975 signed by President Carter and its amendments passed in 1997 under the Clinton Administration.”
Money Talks and even Citibank could not continue its conservative lending practices facing both federal and judicial sanctions intended to expand lending to those you could not qualify under former standards.
Sen. Barack Obama has been involved in the subprime lending crisis long before he ever became a public servant.
Today, Sen. Barack Obama and his Billion Dollar Media Machine have succeeded in changing the focus of this campaign by frightening our representatives in Congress into signing a bill they admit their constituents were against.
What is more important today though is for “YOU” to understand why “We the People” must make sure this Fraud is exposed.
Forget the fact, We the People have just seen this “Rescue Act” signed into existence.
Forget the fact, Frank and Dobb voted against the 2003 Bush administration legislation which would have regulated Fannie Mae and Freddie Mac.
Forget the fact, Frank, Dobb, Pelosi and Obama voted against the 2005 Act co-sponsored by John McCain “Regulatory Act of 2005” Senate Bill 190, which again attempted to place a new oversight board on Fannie Mae and Freddie Mac.
Forget the fact, the 2007 Republican attempt to again bring develop regulatory over-sight was defeated by the new Democratically Controlled Congress.
What you should remember is who are and were Barack Obama’s major advisors and fund raisers during his meteoric rise to World-Wide popularity.
One of investigative journalism’s oldest axioms has always been, “follow the money and you will find the truth.”
What you must make sure all Americans understand is,
How Obama Raised the Money to Win his Senate Seat,
Win the Democratic Nomination,
Turn Down Federal Funding.
Barack Obama continues to be backed by a sugar-daddy or to be more accurate, a sugar-mommy.
You see my friends Penny Pritzker has been Barack Obama’s Finance Campaign Manager since his 2004 Senate run.
The same Penny Pritzker who is a member of one of America’s Wealthiest Families.
A Billionaire family who own controlling interest in the one of this country’s largest hotel conglomerates.
The same Penny Pritzker who once sat as CEO of Superior Bank.
The same Penny Pritzer who saw the FDIC bailout Superior Bank to the tune of $750 Million dollars due to its lending portfolio collapsing under the weight of defaulting subprime loans.
Obama’s federally mandated campaign contributions record both during his Senate run and his Presidential run contrary to public statement read like a gift list from Wall Street and America’s Rich and Famous.
Obama’s inner circle of advisors or former advisor and financial backers represents a list of the who’s who of the cause of this National Disaster.
Former Obama Advisor, Jim Johnson was CEO of Fannie Mae 91-98.Johnson moved on to the Private Sector after 1998 and his private sector employment was tied to enhanced loan portfolios filled with underperforming “Subprime Mortgages.”
Obama takes credit for helping craft the “Bailout Bill,” with along with his parties respective Finance and Banking Committee leaders Rep. Dodd and Sen. Frank.
Rep Dobb, who assisted in crafting the Bailout Bill is ranked #1 in direct and bundled contributions from Fannie Mae at $165,000 during his Congressional tenure.
Barack Obama is ranked #2 at $126,349.
Sen. Obama is ranked #1 if you look at Fannie Mae contribution per year tenure in the Senate at $41,116 a tribute to his staff’s ability to raise funding.To be fair, John McCain has also gotten contributions from Fannie Mae now reported to be $862 per year over his tenure in Congress total.
As I stated at the beginning of this now all too long essay to you my friends, your anger and mine has a productive outlet,
Sen. Barack Obama and his Wall Street, Elite Backers.
We the People were not as naïve as the Obama campaign believed and two weeks ago the polls proved even a Billion dollar campaign was not enough to sway the American People to back a candidate with;
“No Administrative Experience,”
“No Diplomatic Experience,”
“No Military Experience,”
Obama was heading toward a defeat with his Trillion Dollar Spending Agenda rejected by you the American Public.
Barack Obama’s campaign only had one last card up their sleeve.
He and his backers turned a well known and well documented financial sector crisis a Democratic Congress had continually refused to deal with into a “Nightmare on Main Street.”
The gamble resulted in a bill which was signed into legislation Friday.
Obama’s Big Buck Backers made Billions.
They took their profits out of Wall Street early and ran for cover as the Market crashed back to close down nearly 200 points for the day.
It pays to have Inside Information.
It pays to control the Government.
It pays to have Billions in funds.
That my friend’s is why, Barack Obama was able to outspend even the Clinton political machine winning their nomination.
Think about that fact.
Barack Obama raised more campaign funding than even the Clinton machine could deliver.
We should have known there had to be a reason.
Why would anyone back a virtual unknown with no experience over Hillary Clinton and the Clinton machine?
Where were the tens of millions in contributions coming from?
Barack Obama was and has always been, Wall Streets and the Elites Choice for President.
Wall Street and the Elite can always work the tax code to insure their wealth is protected and grows while Main Street is left to struggle on its own.
We the People, Simply Don’t have the Money of Wall Street and the Elite.5% of American’s continue to earn and pay more taxes than the remaining 95% of us.
Now we need to get to work and make sure John McCain is elected to be the next President of this Country actually representing the interests of 95% of all Americans.
I call upon you, my friends to decide,
“Are you Mad Enough to Take on the Challenge of Defeating Barack Obama.”
If you are, “Spread the Truth one American at a time.”
“There is nothing to fear but fear itself.”
Now you know the Truth America.
A Truth the Media wil not Spread.
But We the People Can.
The choice is yours!