It's the same in any lingo

בַּת-בָּבֶל, הַשְּׁדוּדָה: אַשְׁרֵי שֶׁיְשַׁלֶּם-לָךְ-- אֶת-גְּמוּלֵךְ, שֶׁגָּמַלְתּ לָנוּ
אַשְׁרֵי שֶׁיֹּאחֵז וְנִפֵּץ אֶת-עֹלָלַיִךְ-- אֶל-הַסָּלַע


How can one be compelled to accept slavery? I simply refuse to do the master's bidding. He may torture me, break my bones to atoms and even kill me. He will then have my dead body, not my obedience. Ultimately, therefore, it is I who am the victor and not he, for he has failed in getting me to do what he wanted done. ~ Mahatma Gandhi
If I am not for myself, who will be for me? If I am not for others, what am I? If not now, when? ~ Rav Hillel, Pirke Avot

This Red Sea Pedestrian Stands against Judeophobes

This Red Sea Pedestrian Stands against Judeophobes
Wear It With Pride

12 October 2008

Well, How Did We Get Here?...or The Real Obama Agenda

At the outset I must thank Ms Placed Democrat's Renaissancelady 48 and Eastan McNeal at No Quarter for their exhaustive research, love of country, and wise council.

How did we get here? How is it that "subprime mortgages" have brought us to the brink of economic collapse? Most people believe it is due to the predatory lending practices of financial institutions. That is the lie you have been sold. The truth is far more insidious. We are in fact on the brink of economic disaster because of the people who have sent Barack Obama.

In order to understand how this happened we must begin with Saul Alinsky , the radical socialist who, after spending a great deal of time with the Al Capone crime family in Chicago, realized that the same shakedown tactics used by the mob to extort business, and control politicians, could be used by activists to shakedown banks and political institutions to advance a socialist agenda. These were tactics utilized by groups like ACORN, in an effort to lobby the government to pass laws that forced lending institutions to issue mortgages to low income/"at risk" borrowers who often had no way of paying the money back.

But ACORN members probably did not lobby for these laws to bring down our economy, at least not knowingly. I believe that, apart from the leaders at the top, rank and file ACORN members legitimately believed they were fighting for low-income housing. But ACORN's backers were simply using Alinsky's method (never reveal your real agenda) to serve their own purposes. Who are these people? You know the names of two of them: Bill Ayers and Barack Obama. I suspect that they are more front men than anything else, though who knows who Ayers was with while he was in hiding?

Where did ACORN get the funds to engage in the widespread lobbying (read extortion) that allowed them to shakedown lenders and politicians? From the money diverted to them by Bill Ayers and Barack Obama, via the Chicago Annenberg Challenge , and the Woods Fund, as well as with your tax dollars allocated by Congressional Democrats; the same Congressional Democrats that have received hundreds of thousands of dollars from Freddie and Fannie in the form of campaign contributions ; the same Congressional Democrats that ignored Republican calls for the regulating and reform of Freddie and Fannie--the institutions that took subprime mortgages, bundled them, and infected financial institutions worldwide...all in the name of granting minorities and low income families access to housing (always the trouble begins with the most honorable of intentions, or at least it is made to seem so), but with the Leftists' hidden purpose of initiating a worldwide economic collapse.  All of it accomplished with ACORN as the muscle.

The root of the problem lies with the Community Reinvestment Act. The CRA was passed in 1977 and, according to Thomas J. DiLorenzo,
"compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria."
DiLorenzo goes on to explain:
The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act.
So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities.
A man named Bruce Marks became quite notorious during the last decade for pressuring banks to earmark literally billions of dollars to his organization, the "Neighborhood Assistance Corporation of America." He once boasted to the New York Times that he had "won" loan commitments totaling $3.8 billion from Bank of America, First Union Corporation, and the Fleet Financial Group. And that is just one "community group" operating in one city – Boston.
Banks have been placed in a Catch 22 situation by the CRA: If they comply, they know they will have to suffer from more loan defaults. If they don't comply, they face financial penalties and, worse yet, their business plans for mergers, branch expansions, etc. can be blocked by CRA protesters, which can cost a large corporation like Bank of America billions of dollars. Like most businesses, they have largely buckled under and have surrendered to their bureaucratic masters.
Consequently, banks in every community in America have been forced to hold a portfolio of bad loans, euphemistically referred to as "subprime" loans. In order to compensate themselves for the added risk of extending these loans, many lenders have increased the lending fees associated with mortgage loans. This is simply an indirect way of doing what banks always do – and what they must do to remain solvent: charging effectively higher rates of interest on riskier loans.
But this is discriminatory!, complained the "community organizations." Thus, if one browses the ACORN web site, one can read of their boasts of having "predatory lending laws" passed in numerous states which outlaw such fees, prohibiting banks from protecting themselves from the added risk involved in making forced loans to "subprime" borrowers.
According to the Consumer Rights League :
• ACORN leveraged the Community Reinvestment Act in order to
attack lenders' reputations and secure financial resources for itself;
it has also endorsed loans offered by companies that fund ACORN
operations
• ACORN's decades of lobbying and publicity seeking have contributed
to the current housing crisis by lowering lending standards
• Despite raking in a troubling 40 percent of its revenue from taxpayers
over the last three years, ACORN Housing Corporation's actions
range from controversial to borderline illegal:
• AHC has worked to obtain mortgages for undocumented
workers
• AHC relies on undocumented income, "under the table" money
that may not be reported to the Internal Revenue Service
• ACORN's "financial justice" operations attack lenders for "exotic"
loans, but AHC has recommended ten-year interest-only
loans (which deny equity to the buyer) and reverse mortgages
(which can be detrimental to senior citizens)
• AHC may have violated federal law by failing to maintain a
proper distinction between its tax-exempt housing work and
the aggressive political activities of ACORN.
CRL goes on to report:
To understand the current subprime credit mess is to glimpse a world in which a politically active organization with a non-profit housing arm reaps millions of dollars through "rent seeking" or manipulation of favorable laws. ACORN and its non-profit housing arm have taken in millions of taxpayer and corporate dollars by abusing a three-decade-old law intended to help the poor obtain housing. For decades, the activist organization known as ACORN has grabbed headlines—and cash—by attacking mortgage lenders in the name of citizens' rights. Considerably less attention has been paid to the amount of taxpayer money that funds ACORN Housing Corporation (AHC) and to the financial rewards ACORN has amassed.
But from whom did ACORN learn these Alinsky tactics? In part, from Barack Obama.

As I said earlier, I believe rank and file ACORN members legitimately believe they are lobbying for minority and low income housing, unknowingly advancing a larger agenda to destroy our economic and financial institutions. But how has the cabal managed to infect the credit market worldwide? Let's ask Penny Pritzker, Barack Obama's campaign finance chair.

It is now well documented that Pritzker was one of the driving forces behind the subprime mortgage fiasco, unleashing toxic loans into the market like a financial Typhoid Mary. Her bank, Superior, was the first to go under, and yet she made millions.

From Dennis Bernstein's report:
Though Superior Bank collapsed years before the current sub-prime turmoil that is rocking the world's financial markets – and pushing those millions of homeowners toward foreclosure – some banking experts say the Pritzkers and Superior hold a special place in the history of the sub-prime fiasco.
"The [sub-prime] financial engineering that created the Wall Street meltdown was developed by the Pritzkers and Ernst and Young, working with Merrill Lynch to sell bonds securitized by sub-prime mortgages," Timothy J. Anderson, a whistleblower on financial and bank fraud, told me in an interview.
"The sub-prime mortgages," Anderson said, "were provided to Merrill Lynch, by a nation-wide Pritzker origination system, using Superior as the cash cow, with many millions in FDIC insured deposits. Superior's owners were to sub-prime lending, what Michael Milken was to junk bonds."
In other words, if you traced today's sub-prime crisis back to its origins, you would come upon the role of the Pritzkers and Superior Bank of Chicago.
Only a fool would believe that it is a coincidence that a man who helped train ACORN in the use of Alinsky tactics, and with Bill Ayers helped fund ACORN, selected the originator of the subprime mortgage vehicle that is destroying our economy to be his campaign finance chair.

But what was the lightbulb moment? What was the missing piece of the puzzle? It didn't start falling into place for me until John McCain announced his mortgage rescue plan at the second Presidential debate. Inspired by Hillary Clinton's editorial in the Wall Street Journal, McCain is advancing what is essentially FDR's Home Owners Loan Corporation idea that kept millions of Americans in their homes. It is a proven plan for success. But Obama rejects it. Not only does he reject it, but he does so based on conservative talking points, namely that McCain's plan would reward institutions' unethical practices; practices that banks were forced to adopt because of ACORN's coercive lobbying efforts, the passage of the CRA, and a mortgage vehicle essentially invented by his campaign finance chair. But in this rejection Obama strays from his usual modus operandi.

As we saw in the primaries, when the opposition issues a plan, Obama waits a few days and then announces the same plan. The media praises him and everyone genuflects. The most notable example of this was when Senator Clinton advocated a multibillion dollar stimulus package in the spring. One week later Obama released a virtually identical plan. Not so this time. 

Not only has Obama rejected a plan originally put forward by a Democratic President, he has offered no solution of his own. Why? Because Barack Obama needs economic turmoil to get into office. It is the one thing that has opened any polling advantage for Obama in the election. And once in office the nationalization of our banking system will be easily executed. Treasury Secretary Paulson is already laying the groundwork by advocating the government purchase of bank stock. Once in control of America's financial institutions it would be very easy, under the guise of halting the current economic crisis, to completely nationalize American banks and begin a widespread socialist wealth redistribution program which has been part of the Ayers/Obama agenda since the Chicago Annenberg Challenge.  Crazy?  Here's what Ayers said at an education forum in Venezuela, in the presence of Hugo Chavez:
"the political educational reforms under way here in Venezuela under the leadership of President Chavez. We share the belief that education is the motor-force of revolution. . . ."

"Teaching invites transformations, it urges revolutions large and small. La educacion es revolucion."
Read what Jon Markman has to say on the ramifications of Obama's economic and tax policies.  And take a look at a recent survey of CEOs. These people are very concerned with job creation. They require a President whose policies will allow them, in a weakened economy, to generate the jobs that will put Americans back to work, and drive the economic engine forward. Not only do they feel that McCain's policies will allow them to generate those jobs, they overwhelmingly fear an Obama presidency. CEOs know what any fool should know; government does not create jobs (the lie that Obama tells us), companies and corporations create jobs; in a capitalist society.

And consider what is happening between Great Britain and Iceland.  Interesting that British banks, that ended up being bought up by Iceland, secretly held ACORN assets.  It's a new world order after all.  Eastan McNeal goes on to explain:
The first step toward ensuring that the goal of everyone equally owning everything is to first make sure that nobody owns anything. The only path to a functioning socialist democracy is through a temporary trip through a communist demise. In other words, every corporation and entrepreneur must be eliminated and their personal empires destroyed and turned over to the single payer-payee government larges before the collective wealth of the world can be redistributed and shared equally with and for all.
Obama is using home foreclosures, job loss, and economic collapse as a means of gaining power for himself and his backers; the most prominent, and the one who stands to gain the most, George Soros, makes money in part by destablizing foreign currencies as he did in Thailand in 1997.  Obama wants to win the White House on the back of your suffering while George Soros stands to make a killing.  The end result?  A socialist takeover of financial institutions to effect a redistribution of wealth in any mode they please.  

Do you trust a man who bought a $1.3 million mansion, with the help of a convicted felon, to equally redistribute the world's wealth?  Would you trust a man who gained his party's nomination through voter suppression and intimidation, and who voted to continue a regime of warrantless wire tapping, to preserve democracy?  No, me neither.  That's not leadership.  That's not change we can believe in.

Oh, and check out the freshman Senator from Illinois promising that ACORN will help him set his presidential agenda:



There is only one sure thing standing in the way of a Leftist takeover of our financial institutions, and possibly the ending of democracy as we know it; electing John McCain President of the United States on November 4th.

Speaking of Obama and ACORN, it's about time the McCain campaign spoke up about what we've been saying for months:


Sing it Kermit!


6 comments:

Diamond Tiger said...

This post is AWESOME! Thank you for speaking up and speaking out against the socialist movement that is trying to take over our democracy!

KUDOS!!!!

Pagan Power said...

Really excellent research and conclusions. What will it take to get the MSM to look into this with open eyes?

Anonymous said...

STU - i know we haven't spoken since meeting in denver - but only cuz i'm more of a lurker...no time these days...thanks for keepin' up the good fight...we need to keep eachother informed AND motivated in these final weeks.

big hug!

princess

petunia politik said...

you're my new hero. i bow to the thoroughness of your research and the concise manner in which you transpose facts for the reader. we have so little time, and we've worked so tirelessly to stop the demons. thank you, S, i will post this all over the land.

dakinikat said...

Send this to FOX and Lou Dobbs ...

great job at pulling all those loose threads together

and btw, say it ain't so about NC being in play ... get to work dude!

Shtuey said...

Princess, I think I accidently deleted your comment. My dear, it was a pleasure meeting you, as it has been an honor to fight by your side, even if that has mostly been metaphysically. Just 3 weeks left. Sometimes things seem desperate, and hopeless. We are getting some movement, and I think that in the end those of us that believe in Democracy will prevail over demagoguery. Hang in there kid, you're doing great!