Affirmative Action in Lending
The Bear on Sep 26 2008 at 8:30 am | Filed under: Culture of Corruption, Economy
As much as I detest the political party labels of ‘Democrats’ and ‘Republicans’ because of their seemingly intentional and inherent desire to obscure their true ideological identities, you can always rest assured that if you are looking for where most of the liberal politicians hide, check out the ‘party’ that the Donkeys attend. Although the Donkeys are always attempting to pin the tail on their political counterparts, there is no mistaking where most of the true political Jackasses do their ‘partying’. Yes, and although ‘Democrats’, ‘Jackasses’, and ‘liberal politicians’ may seem to be the focus of this paragraph, the key and operative word is actually ‘hide’. One fact seems certain – these spineless politicians love the term ‘Democrat’ (and a few Republican as well) because it defines nothing while having the associative benefit of sounding American, traditional, and patriotic while hiding or masking their true identities.
American, yes – but traditional and patriotic – think again. The traditional American evokes well-established images of hard-working American citizens who believe in and support a capitalist society that allows them to draw no legal boundaries around their pursuits – and who also recognize that achievement of those pursuits is not a given and is certainly not an entitlement – the pursuit’s value lies in the fact that it was earned – through the attributes of focused effort, willingness to accept risk, perseverance, learning from failure, and pride. I will guarantee you that these attributes will not be found in the liberal playbook.
So off of the soap box and into the muck of the proposed bailout. To hear the Wicked Witch of the West, Nancy Pelosi, you would likely deduce that corporate CEO’s were the prime cause for the present economic disaster. As Pelosi puts it, the party is over for these CEO’s and their golden parachutes. It’s a sure bet that she’ll never point that same finger at professional athletes and Hollywood celebs – not to mention some of her compatriots in Congress - who command similar incomes while providing little, if any, true value to society.
The Democratic messiah, Barack Hussein Obama, echoes the same blame in his “No Blank Check” speech. In his true role as the Socialist messiah, he also goes on to say that the bailout “has to help homeowners stay in their homes”. Do the 10 Commandments say that “Thou Shall Not Deny a Mortgage” or “Thou Shalt Own a House” (then again, we must keep in mind that he-with-3-muslim-names may not have a good grasp of the commandments)? Not quite. Does the U.S. Constitution define a right for a citizen to own a home, acquire a mortgage, own a vehicle, go to college, own a business, etc.? Not even close. Does the Declaration of Independence suggest these aforementioned “rights”? No it doesn’t – in fact it says “We hold these truths to be self evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness”. It quite clearly states that we should be able to pursue happiness, not be entitled to its realization.
Owning a home is not a right. I clearly remember when I bought my first home in the 70’s that the basic rules of acquiring a mortgage was to have a job, to show good performance in your job, and that the monthly payment should not be more than 25% of your monthly income. Common sense – right?! Yes, but not for the affirmative action afflicted among us.
The King and Queen of Socialism in America, Obama and Pelosi, have intentionally ignored the most fundamental roots of our country’s current financial problems – most obviously, because they don’t want to share the truth – more accurately, because they see the American citizen as a collection of dumbasses, not capable of possessing long term memory. The truth that they do not want to share is that Jimmy Carter went to the liberal playbook with the Community Reinvestment Act in 1977 to start the entitlement ball rolling. Years of bowing to the discrimination practice of Affirmative Action (AA) soon found AA being applied to lending as well – in no small part due to the heavy-handed “cheerleading” of Bubba Clinton. The quasi-governmental institutions of Fannie Mae and Freddie Mac were clearly Affirmative Action for Lending – on steroids!
If there’s any silver lining in this financial crisis, it’s that a few politicians such as Sen. Jim Bunning and Rep. Mike Pence are finally allowing the word ‘socialism’ to be prominent in their public comments. John McCain needs to follow their lead and make sure it becomes an integral part of his message during the debates and the remainder of the campaign.
This is a critical time in our country’s history and for many reasons – whether it be Islamic terrorists, socialists in government, or a socialist running for President. Specifically, the proposed “bailout” proposal needs to be free of socialist earmarks – controls on salaries, continued guarantees for unqualified loan candidates, assistance to prevent foreclosures, and handouts for community organizers to distribute to their self-proclaimed victims of society – just to name a few. Government should exist to provide national security, laws, and infrastructural needs. It has no qualifications or skill for running businesses as has been so aptly demonstrated by decades of pork barrel spending, the Social Security Administration, Fannie Mae, and Freddie Mac (and to think they want to manage healthcare) – not to mention the institutionalization of legalized discrimination – aka Affirmative Action.
By Rick who is On The Right Side of the Issues
One Response to “Affirmative Action in Lending”
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Okay, never mind the bubba bailout plans (or Birk, or whatever)…besides their math being a little off, it’s just socialism, income redistribution. They always forget that the first step is, SIEZE THE MONEY FROM THE TAXPAYER.
Here’s a bailout plan for you. Let everyone fail. Yeah, I know, how original, but here’s the original part. Sour the deal with Bear Stearns, Lehman Brothers, and especially WaMu. Go back to the failed loans, bundle them together, let the government pay for those loans AS THEY FAIL, in cash, to the lender.
Then, let the government HOUND THE DOG POOP out of those borrowers until they get their money back. In the meantime, they get the property, and if either the lender or the borrower were involved in any hanky panky whatsoever, punish them til they bleed. Change the mark to market rule back to re-evaluating each property and loan on a case by case basis, eliminating any OTHER rules that treat loans as anything but individual contracts. Reset the standards for loans, and get rid of the credit score system that allowed legal discrimination against the poor in the first place.
You want to make a loan, do it the old fashioned way. Get security. A down payment plus the proper inspection of the home before purchasing insures that the homeowner has enough equity in the place he won’t want to walk away from it. Make it a crime to default on a loan, get rid of the concept of bankruptcy. Ask for employment history and citizenship status. Get references, and call them ahead of time to chat with them, not three months after they’ve defaulted.