Thread: Obama Democrats didnt inherit the bad economy READ

Obama and the Democrats didn't inherit the bad economy; they caused it and made it worse (Read the link) PDF

These are the leading culprits who actually caused the subprime mortgage collapse which then caused the current worldwide deep recession

Here are the Criminals and all are Socialist Democrats

1. Jimmy Carter
2. Bill Clinton
3. Janet Reno
4. Franklin Raines
5. Chris Dodd
6. Barney Frank
7. Barack Obama

They now want to bankrupt the nation with socialized medicine and socialist energy taxes This will greatly increase your income taxes, property taxes, utility bills and you will be denied medical care

http://www.uscitizensassociation.com/USCA_news.html

1. Jimmy Carter pushed for and signed into law the Community Reinvestment Act which forced banks to lower their standards so that previously unqualified people could get a mortgage.

2. Bill Clinton then doubled-down on the Community Reinvestment Act and greatly lowered mortgage standards to allow a lot more unqualified borrowers to get loans.

3. Bill Clinton’s Attorney General, Janet Reno, then intimidated banks with threats of legal action if they did not give loans to unqualified borrowers who would not have the income to pay the loans back.

4. A member of the Clinton administration, Franklin Raines was then put in charge of Fannie Mae by Bill Clinton. Fannie Mae bought up a majority of the bad loans made by banks to unqualified borrowers. Raines then falsified Fannie Mae financial reports so he could collect bonuses
which totaled over $90 million for 5 years.

5. Senator Chris Dodd, head of the Senatorial Financial Committee, suppressed efforts by President George W. Bush and congressional Republicans to rein in the corruption at Fannie Mae and Freddie Mac.
He got a very favorable loan by a bank associated with Fannie Mae and Freddie Mac. He got large political campaign contributions from Fannie Mae and Freddie Mac.

6. Barney Frank, head of the House of Representatives Banking Committee, also suppressed efforts by President George W. Bush and Congressional Republicans to investigate corruption at Fannie Mae and Freddie Mac.

7. Barack Obama, while he was an attorney, filed law-suits against banks on behalf of ACORN in order to force banks to give loans to people who could not afford to pay them back. Obama, while he was a U.S. Senator, also suppressed efforts by President George W. Bush and Republican Congressmen to investigate and rein in Fannie Mae and Freddie Mac.

It was socialism, not capitalism that caused the bad economy

It is also being falsely publicized by Barack Obama and the Democrats that the subprime mortgage collapse that caused the bad economy was caused by the failure of capitalism.

The subprime mortgage collapse was caused by the failure of socialism, not capitalism. Forcing banks to give loans to people who cannot afford to pay them back is socialism, not capitalism. Everyone wants to help the poor, but socialism does not work to accomplish that.

Barack Obama and the Democrats have not yet imposed full blown socialism, but they are coming close.

Socialism makes 99% of the citizens poor while the 1% socialist government rulers are rich and live in luxury. Yes, socialism works for the rulers, but not for the citizens. Obama and the Democrats know this, but they don’t care about the citizens, they care about themselves, gaining permanent power and a life of luxury.

If socialism worked, the USSR would be the most prosperous nation on earth. The USSR no longer exists. If socialism worked, Cuba and North Korea would be the most prosperous nations on earth. But the average Cuban worker makes $30 a month (compared to $4,000 a month for the average U.S. worker), and the average North Korean is starving. Meanwhile, Fidel Castro and Kim Jong-il live a life of luxury.

Because of Barack Obama’s and the Democrat’s socialist policies, millions of Americans have lost their jobs or have taken large pay cuts. Thousands of companies have gone out of business or are going through bankruptcy. Millions of Americans have lost most of their retirement savings and most of their wealth due to investment losses.

Meanwhile, Barack and Michelle Obama’s wealth has skyrocketed and they live a life of luxury. The Obamas throw lavish parties on a regular basis at the White House for their socialist friends. These parties include flying in Kobe beef from Japan which costs over $100 per pound. Michelle Obama wears designer clothes to these parties which cost thousands of dollars. These exorbitant parties cost taxpayers millions of dollars.

Yes, socialism is great – for the socialist government rulers, not for you.

Are you fed up with out-of-control government spending and taxation?

Are you fed up with the government providing bailouts, not securing the borders and not drilling for oil in our own country, which would hold down energy prices?

Many U.S. citizens who embrace the American way have engaged in “tea partiesâ€