“Barack Obama suggested that the American economy is fundamentally weak.”
And I wonder who helped get the economy on the brink?
Obama:”The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren’t minding the store. Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans have brought us to the most serious financial crisis since the Great Depression.
I certainly don’t fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to. It’s a philosophy we’ve had for the last eight years – one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else. It’s a philosophy that says even common-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises.”
WRONG Mr. Obama – please read the following.
FANNIE MAE COLLAPSE OR THE DEMOCRAT SWINDLE OF THE U.S. TAXPAYER
In 2006 an election year, the Democrats were still trying to lay the Enron scandal on Bush and the Republicans. With the help of the press a cover up of a larger financial scandal was taking place. A scandal that we are paying for today. In 2006 a 3 year investigation into fraud at Fannie Mae was concluded. It revealed a level of financial misconduct by Franklin Raines, Jamie Gorelick, and others that grossly overstated earnings by 10.6 Billion dollars. To gain bonuses.
For those who don’t know both Raines and Gorelick were high ranking officials in the Clinton Administration.
The Democrats aided Raines by refusing to hold hearings on Raines and Gorelicks fraud. Their actions have led to the collapse of this institution, putting the American taxpayer on the hook for 5.6 Trillion Dollars. We are the insurers of this institution.
Even today with the collapse of Fannie Mae when Republican Baynor called for hearings again Barney Frank refused. When you look at our Government run institutions Social Security, Medicare, Medicaid, and Fannie Mae. Not one of these is solvent. We the American public hold the bills due on this group of catastrophes to the tune of $59 Trillion.
Obama has no problem taking money from Fannie Mae
*Obama Supporters Celebrate Lehman Brothers Employees Losing Their Jobs *
These last blows have been the direct involvement of Democrats leading the charge torape & plunder at will. These people & policies must be exposed and the American publicmust see the fraud that Obama is and the fraud that he will keep enabling!