'Beyond Question' the Economy was Destroyed by Democrat Policies

 

Flip-Flop!

Chris Dodd left the Senate in 2010. c last day in Congress will blissfully be December 31, 2012, but, they are leaving a trail of economic destruction behind them.

A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the Democrat's  attacks on the housing market (the Community Reinvestment Act-- the United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods, whether they could afford the loan or not) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Let's take a walk back in history to get to the facts:  Setting the Record Straight. President Bush warned them!

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

These are the Democrats who Placed us on the Path to the Fiscal Cliff with the Collapse of the Mortgage Market and with the Dodd/Frank Regulatory Reform Bill.

-John McCain also co-sponsored urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly ridiculed anyone who suggested reforms were necessary...to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.

-No one was making bad loans to unqualified people until Democrats came along and threatened to drag banks into court and have them fined and branded as racists if they didn't go along with the left's Affirmative Action lending policies...all while federally insuring their losses. Even the New York Times warned in the late1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.

-Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left's favorite blatantly partisan "fact-checkers," Snopes, admits (while pretending to 'set the record straight').

-Even The New York Times admitted that there is "little evidence" of any connection between the "Republican" deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.

But the mainstream media (MSM), which are  those media outlets disseminated via the largest distribution channels, which therefore represent what the majority of media consumers are likely to encounter, have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. 

While Democratic and Republican leaders trade blame as they leave for the Christmas holiday amid fading hope of an agreement to avert a year-end fiscal crisis that could lead to stiff tax hikes and drastic budget cuts, Barney Franks and Chris Dodd can sit back and enjoy the carnage they left behind and threat to future American dreams.

~Brought to you by CharlottePAC.org