Fireweednectar’s Weblog

Views from The Last Frontier

Burning down the house

We have seen time and again how Barack Obama ridicules John McCain’s policies and tries to duck when people ask him questions. In fact, he never really answers, but instead maneuvers the conversation over to what he thinks his opponent is doing wrong.

In the 2008 presidential debate aired Friday, Senator Obama checked off a series of proposals to protect taxpayers, including his assertion that “we’ve got to make sure we’re helping homeowners because the root problem here has to do with foreclosures that are taking place all across the country.” He went on to blame the current crisis on “eight years of economic policies promoted by George Bush and supported by Senator McCain, a theory that basically says we can shred regulations and consumer protections.”

Now I have a couple of questions about this. Exactly which homeowners is Senator Obama trying to help? The ones who can’t afford houses they should have never been approved to buy in the first place? Or are we talking here about the homeowners whose tax dollars may go to covering the cost of illegal immigrant and other homeowners whose subprime loans went into foreclosure?

And which regulations and consumer protections is he talking about when he accuses Bush and McCain of shredding them? Perhaps those of the Community Re-investment Act, which triggered lawsuits against banks that didn’t loan to people with bad credit or too-low income? And did the “consumer protections” he referenced include the charges of racism levelled at those who did not meet the CRA standards and quotas for loans to guarantee “affordable housing”?

It’s not that difficult to see a lack of substance in the speeches and panderings of Barack Obama, and in this reply he did not answer the question at all. His points (which were stretched to create more of them, by the way) were mere echoes of what the public has been critisising and not at all close to what he has been calling for in the past. His call for “oversight,” for example, is nothing more than posturing. Where was he when McCain was speaking out against these practises? The Democrats struck down McCain’s proposal in favor of “affordable housing,” but all Obama can do is repeat ad nauseum “Wall Street and Main Street” while he attacks the alleged “shredding” by Senator McCain.

The following video goes into great detail about how this current crisis came to pass. Please note it moves a bit fast and you should hover over the pause button to click when you want to read something before it moves to the next frame.

Reverse Spin has a lot more about how the MSM has essentially become Barack Obama’s press agent.

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Saturday 27 September 2008 - Posted by | Politics | , , , , , , , ,

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