Tag Archives: housing bubble

Obama’s Sequester Con Blows up in His Face: Today on the Teri O’Brien Show

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“Dumb, inexcusable and unnecessary.” That’s what Barack Obama called the unthinkable, the thing that he declared last fall would never happen, the so-called, “sequester,” mandatory reductions in the rate of growth for various federal agencies. Dumb, inexcusable, unnecessary, and also his idea, as it is now universally acknowledged. Here’s the reality: The One rolled the dice and he lost. He bet that the Republicans would be unwilling to allow the Defense Department, which is taking the brunt of the “cuts,” to see its budget reduced, and he was wrong. Now, he is engaging in a cringe-inducing, passive-aggressive game, one in which he says “If you don’t do what I want, and send more money to Washington for me to throw down various ratholes, I’m going to inflict as much pain as possible on the American people.” Thanks to Bob Woodward, everyone acknowledges that this horrible, unimaginably terrible reduction of 2.3% in the rate of growth in federal spending, yet he continues to refuse to own it. Is he delusional, and doesn’t he realize that the Lame Stream Media may be turning on him? This whole thing is starting to look like that Florida sinkhole, with Obama in the role of the guy who was swallowed.

This man’s unwillingness to accept responsibility for any of his actions is part of a pattern. He has spent to the last five years speechifying against “those who caused our economic problems in the first place,” by which he means the private sector in general, and those evil Wall Street profiteers specifically, several of whom became part of his administration. Our guest, Peter Wallison, Arthur F. Burns Fellow in Financial Policy Studies at AEI, general counsel of the US Treasury Department and White House counsel to President Ronald Reagan, will join us to discuss actual cause of the financial crisis of 2008. That’s the subject of his new book, Bad History, Worse Policy: How a False Narrative About the Financial Crisis Led to the Dodd-Frank Act. Surprise–the government, not the private sector, bears most of the responsibility, and “community organizers” like Barack Obama were instrumental in causing the mess in the first place. Whether it’s the sequester or the housing bubble, perhaps we should adopt the same policy that I advocated back in the day when O.J. Simpson was looking for “the real killer.” We should send the Celebutard-in-Chief a mirror.

Justice Scalia has the Left even more unhinged than usual over his comments in last Wednesdays oral arguments about Section 5 of the Voting Rights Act.

Tune in today for the rest of the story.

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Politics, Pop Culture, the Hottest Issues of the Day, and Your calls. The Teri O’Brien Show, featuring America’s Original Conservative Warrior Princess, Live and in color, Sundays 4-6 pm Central time  at http://www.blogtalkradio.com/Teri-OBrien. Daring to Commit Common Sense, Fearlessly, and More Important, Cheerfully, in the Age of Obama.

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If We Don’t Get America Out of the Hands of The Community-Organizer-in-Chief, Soon There Will Be Nothing Left

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We have frequently mentioned here and on the Teri O’Brien Show that Barack Hussein Obama’s “remaking” of America is all about redressing the “unfairness” inherent in racist Amerika. Obamacare was designed to make sure that even if you and your spouse work full-time to make sure that your kids have good health insurance, they don’t have anything better than the illegitimate spawn of welfare recipients, an illegal aliens or the bum who wants to wash your windshield while you wait for the light to change at the underpass because that’s not “fair.”

Here’s the latest about plans to re-ignite a new housing bubble, from The American Spectator:

The principle instrument this time is not the Justice Department, Fannie Mae and Freddie Mac, as it was last time, but the brand-new Consumer Finance Protection Bureau, designed by good old Elizabeth “Nobody-Ever-Made-It-On-Their-Own” Warren, which should really be called the Bureau for Bringing Down the Entire Economy. As reported in last Sunday’s New York Post by Hoover Institution Media Fellow Paul Sperry, the CFPB has just announced that it is adopting a 20-page “Policy Statement on Discrimination in Lending” issues by the Interagency Task force on Fair Lending in 1994 that kicked off Attorney General Janet Reno’s draconic enforcement of the Community Renewal Act. Part of the policy statement reads, “Applying different lending standards or offering different levels of assistance to applicants who are members of a protected [i.e., minority] class is permissible in some circumstances. Providing different treatment to applicants to address past discrimination would be permissible if done in response to a court order.” There are already plenty of court orders sitting around.
Just two weeks ago Wells Fargo caved to a Justice Department offensive and paid $175 million for alleged past discriminating against minority borrowers. All this occurred even though the bank received an “outstanding” grade in its most recent Community Reinvestment Act exam. The government did not even bother to prove discrimination in a single instance but relied instead on statistics showing lower rates of homeownership in minority neighborhoods. Thomas Perez, the Justice Department honcho who is spearheading this campaign, says banks discriminate “with a smile” and “fine print” and are “every bit as destructive as the cross burned in a neighborhood.” Nice objective evaluation there.
As in most such cases, Wells Fargo chickened out about going to court and refused to admit any wrongdoing but agreed to all kinds of diversity training and sensitivity counseling. The bank will have to “prominently display” a notice informing minority customers that they cannot be turned down for loans just because they are receiving public assistance such as unemployment benefits, welfare payments or food stamps. (Maybe they can even use food stamps for the down payment.) Wells Fargo must provide minority customers $50 million for down-payment and closing-cost assistance, including “Borrower Assistance Grants” of up to $15,000 per individual. It was also ordered to pay $125 million to as yet unnamed victims of previous discrimination. But get this! If those past victims don’t show up, the money must be handed over to community organizing groups. President Obama, you have a job waiting for you if you lose office this fall.

Unbelievable, but true. Barack Obama never concealed who and what he is, and given who and what he is, no one should be surprised that he wants to redistribute wealth from  the makers to the takers.

That’s the simple choice presented in the upcoming election.

Obama’s Summer Rerun

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Here we go again. Today, our Dear Reader will once again set up his TelePrompTer in front of another group of wet-behind-the-ears college students to perform his tired schtick, a cross between bad standup, which wasn’t even funny the first time, and screaming sloganeering designed to whip the kids into an emotional frenzy. Expect more clever remarks about someone ordering a steak dinner and a martini, and leaving someone else with the check. I guess the silly self-important children who write this foolish drivel for him to read think we won’t realize that that’s not the best analogy for our current economic crisis. It’s more like a “community-organizing” jackass with a clipboard showing up with a screeching mob outside your restaurant and demanding that everyone be given a free steak dinner and that the martinis keep flowing at your expense. Barack Obama and his left-wing activist pals in ACORN were the ones threatening financial institutions with accusations of RAAAACISM if they didn’t give mortgages to those without the means to pay back what they borrowed. Now, we have the ridiculous spectacle of his trying to blame his predecessor in office for the consequences of the policies he enthusiastically advocated.

What a contrast between Barack Obama and the members of his administration, notably the arrogant, and proudly incompetent Eric Holder, and J.P. Morgan Chase’s Jamie Dimon, who is being praised for his testimony before the Senate Banking committee yesterday. Missing from Mr. Dimon’s testimony were the hallmarks of the Obama brand: whining, finger pointing, and attempts to shift the responsibility to anyone else for economic losses. Even more notable: Mr. Dimon was apologizing for losses of private money. We are still waiting for B. Hussein to apologize for giving his cronies at Solyndra and the sons of Solyndra taxpayer-funded loan guarantees, and otherwise throwing our money down various ratholes. Don’t expect to hear those apologies today, or …ever.