Give me a good one sentence response to this simple minded GOP bullshit
Here is the talking point:
The financial crisis was caused by Democrats deregulating Fannie & Freddie, to give loans to black people who are too lazy and shiftless to pay their debts
Follow this link – there are some good comments on the post, too.
http://bigpicture.typepad.com/comments/2008/10/its-a-racial-th.html
Maybe if the financial mess we are in today was caused by white people trying to game the system (both in receiving loans to flip houses and giving loans) . . . oh wait, it was.
The Party of Lincoln is no more.
This isn’t a black / white issue, it’s a people who had no business getting loans were getting them issue.
I suggest you read this. From way back in 1999. The NYT piece spelled this whole thing out for you, even down to the bailout.
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1
“Kiss my black ass, cracker”
Mike, you know better than to use facts!
Mike W, two things:
1. What the hell are you doing using the New York Times as a source? Are we in the End of Days? 🙂
2. I know you’ll deny it, but the Republican meme is that many of these bad mortgages went to brown skin people.
“2. I know you’ll deny it, but the Republican meme is that many of these bad mortgages went to brown skin people.”
Sort of….the Democrap meme is that this is what the Repug meme is.
I guess deldem was half right. 😉
Thanks for the link anonone.
Now clearly even as a spurious claim the CRA et al story serves a number of useful purposes for the neo-cons and Republicans generally:
1. The lie obscures the rather straightforward logical conclusion that low regulation and trickle down polices not only doesn’t work as advertised but may be actively injurious to the economy (combined with crony capitalism such policies could even prove lethal);
2. it also obscures or distorts the historical record and misrepresents the way the economy works and that’s not good for either a citizen or an investor – those who forget the past are doomed to repeat it and those who ignore the laws of supply and demand are going to lose a lot of money.
However hooking into the cultural history of the United States elevates this to the Big Lie status since:
3. It resuscitates the Southern Strategy with a new set of code words for colored people, the impoverished, Democrats or other perceived enemies; e.g., mortgage scammer is the the new welfare queen.
4. And since Obama is black as well as a Democrat and was raised somewhat poor to boot (single mom on food stamps, student loans, etc) it allows a multiple level attack that can avoid overt bigotry while busily plucking all the racist and classist chords there are.
I would not expect someone as obtuse as Neil Cavuto or as hidebound as Larry Kudlow to actually recognize the nature of their participation in this and suspect they might even be genuinely shocked or angered if accused but you can bet that all Karl Rove’s proteges, Steve Schmidt in particular, know exactly what is going on and how it will be used.
Politics is a contact sport, not for sissies, but there are genuine policy disagreements that need to be addressed, a country that needs a better quality of governance than it has recently experienced, and Big Lies can seriously damage our ability or even our willingness to argue with those who disagree: This is not a good thing regardless of ones preferred candidate.
The CRA loans are more tightly regulated and less of them are in foreclosure. The CRA was passed in 1977, the problems we’re facing now started with Phil Gramm’s deregulation in 1999, which he slipped in an omnibus bill which exempted investment banks from oversight. Private entities such as Lehmann and AIG have cost the taxpayers way more money than Fannie & Freddie. F&F were also forced to take non-conforming loans in Feb. by the government.
Ok call me crazy I have a bad feeling aout this !
Germany
On March 27 1933 …”the Reichstagfire” followed by the “Enabling Act “(aka Patriot Act)
9/11 followed by the same Patriot Act.
Glass-Steagall Act of 1933 established the Federal Deposit Insurance …. Depository institutions will now operate in “deregulated” financial markets in …….
1939 Fales-Flag operation starts war wit Poland
Here is where I get fuzzy, because here came the declaration of a “state of emergency” and Marshal law………..surely not in this land of the Free.
Now, what next ?
F
Yup. Just more baiting for a base fearfully lacking in perspective!!
It’s “crack” versus “meth” as usual…who gets demonized? The “babymomma” or the “teen mom”?
Words like “welfare”, “payday loans/subprime lending” make you think of minorities.
But take “disability/worker’s comp” and you open up the source of problems to a big subset of conservative voters. Add “2nd/reverse mortgage” and we even bump ourselves up a class!!
“workers comp” spells UNION to me…but that’s just me
oh and wtf is a blergh?