Dec 22 2008
NY Times Bush Bashing Festival
The NY Times laid a bombshell in its frontpage-liner story today White House Philosophy Stoked Mortgage Bonfire. Really? I guess they forgot that the Community Reinvestment Act was originally signed into effect in 1977 by Jimmy Carter, and heavily enforced in the 90’s by the Clinton administration.
In fact, when Mr. Obama was a “community organizer“, that was his principle role to agitate with Acorn for Banks to give loans to minority and, very often unqualified home buyers.
For years, both Bush and McCain called congress to tighten up the reins and were met with rebuffs by Congress and the likes of Barney Frank and Rep. Maxine Waters, who said, even as late as the summer of 2008, that all was well and there was much ado about nothing. According to Gateway Pundit President Bush called for tighter regulations “17 times in 2008 alone.”
But, I guess it’s Bush-bashing time for the lame duck, and, never, ever, would the Times go after the Messiah for his role in the Sub-prime mortgage mess and the subsequent economic meltdown. The fact is that, after Chris Dodd, who has been in office for decades, Mr. Obama was the 2nd highest recipient of Fannie Mae money. And he had been in office less than a year.
thanks to the People’s cube for the image.
Short memories. Take a look:
