Showing posts with label Fannie Mae. Show all posts
Showing posts with label Fannie Mae. Show all posts

Thursday, July 9, 2009

The Truth Is Out There!

By Digital Publius Blogspot

The truth is indeed out there, if you are inclined towards it, it can be found. The problem is not that the truth is or is not knowable, but rather that it is so often ignored when it conflicts with ones deeply held ideologies. This is the case often, when you endeavor to hold civil discourse with those that lean more towards their ideologies than reality and who are committed to remaking the world into a reflection of those ideologies despite the truth. This is how I would define the average liberal.


Interestingly enough, not all Democrats are liberals. Many of the people who vote Democrat that I know, share the same conservative values that I proudly trumpet. Unfortunately; there is a disconnect, they can’t see that when they support the Democratic party for the social issues they may believe to be virtuous, you become a de facto liberal because you cannot support the party of affirmative action without supporting the unGodly party of abortion on demand and Gay marriage.


Where your average liberal is often favorably disposed towards irrational beliefs and doctrines of devils, your average Democrat is simply to lazy or racist to look into the truth as they have made up their minds based on those aforementioned ideologies. Democrats however can on occasion be reached, yours truly would be an example of that particular truth. Democrats when confronted with the proof they are often to lazy to look into themselves, will on occasion admit that they were making a grave error when supporting a character like Barney Franks. They even sometimes, like me, become Ex-Democrats. A liberal never ever sees beyond the unicorns President Obama promised him he would have to ride around the autonomous collectives we will all live and work on.


For the liberals out there I’m joking about the President promising literal unicorns, I wish I could say that his actions thus far hadn’t made the autonomous collectives look so likely though.


As for racism, without it there would be no Democratic party. Racism drives the democratic party. You have the liberal Democrat, (White or Black) who is perhaps the most racist human being on earth who is so convinced of the inferiority of the minorities in America (even when he is one) he is compelled to help them by lowering standards so they can compete with there betters. This of course ends when it comes to rubber meeting the road programs like school vouchers where it would put their little Suzy in direct contact with a child from a family really seeking to improve that child’s lot by allowing them to contend on an even playing field, can’t have that.


Then you have the Original Democrats, these are folks that know the origin of the Democratic party. They know that it was the Democrats who started the Klu Klux Klan, with the express purpose of terrorizing black voters and to keep them from voting for the party that freed them. The O.D.s are the ones that still remember it was the Democrats during the civil rights movement that turned on the fire hoses and loosed the dogs on the civil rights activists in the 50s and 60s. It was the Democrats that raised the Confederate battle flag over all the municiple buildings in the south.


The O.D.s know that the party simply changed tactics when they lost the civil rights struggle, instead of beating and lynching people, they began to implement programs that stemmed the tide of independent minority progress both socially and economically, while appearing to be the party of the black man. Since we began to vote en masse for the democrats can we as the black community honestly say we are better off? With 70 percent of our children now being born out of wedlock and the highest teen pregnancy rate in the country? With our young men disproportionately represented in the nations jails and prisons and killing themselves in violent criminal activity in staggering numbers? This was not the case during my parents time nor was it the case when I was a kid in the 70’s when the liberal programs were just getting started, we are only now really seeing the bitter harvests that those programs are yielding.


Then you have the Black Democrat who if he is an elected official just may fall under the liberal umbrella depending on the level of indoctrination he fell victim to, I think our President falls under this category. The other elected official category is the Black Democrat who knows these programs are no good for the black community but he has sold himself out to the O.D.s for special favors. These are the real house negroes in the black community and they are represented in large numbers.


The Black Democrats are ofttimes virulently racist as well, so racist in fact that they do not think themselves capable of racism. I have heard such nonsensical rhetoric as, it is impossible for the black man to be racist because we don’t have the power to impose our racism institutionally. Let that be a comfort to you white folks if your Beamer stalls out on the corner of Mack and Beewick in Detroit and you are not their buying drugs.


The Black Democrat votes for the party primarily because they believe the Republican party is the party of white folks. The Democratic party has worked tirelessly to foster that belief and the Republican party has done little to combat that perception, despite a rich history of being the true party of equality.


Democrats can sometimes be reached with facts, liberals are completely indifferent to them, unless of course in those rare occasions where those facts have the virtue of agreeing with their varying realities.


I wrote an article last election day entitled, “The Bush Economy and the Politics of Ignorance”, which illustrated the unfortunate propensity liberals and democrats have to ignore empiricism in favor of rhetoric, emotionalism and racism if you haven’t read it you may find it worthy of your attention, I do hope everyone who voted democrat in that election reads it, as well as an article I wrote called, “Rahm and Hegel Sittin’ in a Tree K.I.S.S.I.N.G.” which includes a timeline of President Bush’s statements in warning of the then coming financial crisis and his attempts to stave it off. These articles and the following C-Span video offer enough evidence of the culpability of the Democrats in the collapse of Fannie and Freddie which triggered this economic malaise that Obama’s policies are only deepening.


It is time to stop calling this financial crisis the Bush economy and place it at the feet of those who truly are responsible. Democratic voters wake up! Liberals, well, take another Percocet.


Behold, You desire truth in the inner being; make me therefore to know wisdom in my inmost heart. Psalm 51: 6

Thursday, June 25, 2009

Barney Frank; the Underwriter

The Wall Street Journal


REVIEW & OUTLOOK

Telling Fannie Mae to take more credit risk. Now there's an idea.


Back when the housing mania was taking off, Massachusetts Congressman Barney Frank famously said he wanted Fannie Mae and Freddie Mac to "roll the dice" in the name of affordable housing. That didn't turn out so well, but Mr. Frank has since only accumulated more power. And now he is returning to the scene of the calamity -- with your money. He and New York Representative Anthony Weiner have sent a letter to the heads of Fannie and Freddie exhorting them to lower lending standards for condo buyers.


You read that right. After two years of telling us how lax lending standards drove up the market and led to loans that should never have been made, Mr. Frank wants Fannie and Freddie to take more risk in condo developments with high percentages of unsold units, high delinquency rates or high concentrations of ownership within the development.


[Review & Outlook]
Associated Press


Fannie and Freddie have restricted loans to condo buyers in these situations because they represent a red flag that the developments -- many of which were planned and built at the height of the housing bubble -- may face financial trouble down the road. But never mind all that. Messrs. Frank and Weiner think, in all their wisdom and years of experience underwriting mortgages, that the new rules "may be too onerous."


And in a display of the wit for which Mr. Frank is famous, the letter writers slyly point out that higher lending standards won't reduce taxpayer exposure to bad loans because the Federal Housing Administration has even lower standards for condos. "While the underlying goal may be to reduce taxpayer exposure relating to the current conservatorship of the GSEs [government sponsored entities], such a goal would not have such an effect if it merely results in a shifting of loans from the GSEs to the FHA." Tougher lending standards will merely shift market share from one government program to another, so what's the point in being cautious?


Fannie and Freddie have already lost tens of billions of dollars betting on the mortgage market -- with that bill being handed to taxpayers. They face still more losses going forward, because in the wake of their nationalization last year their new "mission" has become to do whatever it takes to prop up the housing market. The last thing they need is lawmakers like Mr. Frank, who did so much to lay the groundwork for their collapse, telling them to play faster and looser with their lending standards.


Fannie and Freddie have always been political creatures under the best circumstances. But we don't remember anyone electing Mr. Frank underwriter-in-chief of the United States.