Saturday, October 04, 2008

It Does Matter!

You MUST read this commentary by Thomas Sowell. I wish he was running for President.


Abraham Lincoln said, "You can fool all the people some of the time and some of the people all the time, but you can't fool all the people all the time."

Unfortunately, the future of this country, as well as the fate of the Western world, depends on how many people can be fooled on election day, just a few weeks from now.

Right now, the polls indicate that a whole lot of the people are being fooled a whole lot of the time.

The current financial bailout crisis has propelled Barack Obama back into a substantial lead over John McCain-- which is astonishing in view of which man and which party has had the most to do with bringing on this crisis.

It raises the question: Do facts matter? Or is Obama's rhetoric and the media's spin enough to make facts irrelevant?

Sowell makes the point that it was Dodd and Frank and the other liberal democrats who pushed for less restrictive guidelines and fought every attempt to impose fiscal responsibility on the subprime market. In 2005 these same congressmen were warned by Bush Administration officials what was happening and they were ignored.

[...]the facts show that it was the government that pressured financial institutions in general to lend to subprime borrowers, with such things as the Community Reinvestment Act and, later, threats of legal action by then Attorney General Janet Reno if the feds did not like the statistics on who was getting loans and who wasn't.

[...]Then there is the question of being against the "greed" of CEOs and for "the people." Franklin Raines made $90 million while he was head of Fannie Mae and mismanaging that institution into crisis.

Even after he was deposed as head of Fannie Mae, Franklin Raines was consulted this year by the Obama campaign for his advice on housing!

You read the rest. I'm gonna buy more ammo. The time is coming for another American Revolution.

Congress is the new King George III and they need the same message - get the hell out!

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