Comrades, the evil that results from not having a truthful federal guardian of information in this country has come to fruition. I cite for you the following heresy being propagated by a purported "committee" made up of our representatives in the People's Congress:

Global Financial Crisis, Mortgage Tsunami, Housing Bubble Can All Be Traced to Federal Government Intervention to Create Affordable Housing

Excerpts from "The Role of Government Affordable Housing Policy in Creating the Global Financial Crisis of 2008," a 26-page report released yesterday by the U.S. House of Representatives Committee on Oversight and Government Reform:

The housing bubble that burst in 2007 and led to a financial crisis can be traced back to federal government intervention in the U.S. housing market intended to help provide homeownership opportunities for more Americans. This intervention began with two government-backed corporations, Fannie Mae and Freddie Mac, which privatized their profits but socialized their risks, creating powerful incentives for them to act recklessly and exposing taxpayers to tremendous losses. Government intervention also created “affordable” but dangerous lending policies which encouraged lower down payments, looser underwriting standards and higher leverage.

Finally, government intervention created a nexus of vested interests – politicians, lenders and lobbyists – who profited from the “affordable” housing market and acted to kill reforms. In the short run, this government intervention was successful in its stated goal – raising the national homeownership rate. However, the ultimate effect was to create a mortgage tsunami that wrought devastation on the American people and economy. While government intervention was not the sole cause of the financial crisis, its role was significant and has received too little attention.

The real tragedy of the government's affordable housing policy is the impact on average Americans, particularly those of modest means. Millions of these borrowers, who were supposed to have been helped by federal affordable housing policy, have now been forced into delinquency and foreclosure, destroying their asset base, their credit, and in some cases their families. For example, Latino homeowners, who once appeared to be among the most frequent beneficiaries of affordable housing policies, are now the victims of the policies that their political representatives in Washington once championed.

The consequences of these policies have also brought the entire global financial system to the brink of collapse, destroying trillions in equity and untold numbers of lives. It is essential to reexamine the borrow-and-spend, high-leverage policies that became prevalent in the mortgage market as a result of well-intentioned-but-reckless decisions made by elected officials on behalf of the American people.

Washington must reexamine its politically expedient but irresponsible approach to encouraging higher levels of homeownership based on imprudently small down payments and too little emphasis on borrowers' creditworthiness and ability to repay their loans. Without such a return to fiscal discipline and responsibility, we will continue making the same mistakes that led us to the current financial crisis.

Housing bubble and financial crisis links

Have you ever heard anything so absurd in your life? It is one thing for average workers to voice such ill-concieved uninformed "opinions" in private (though THAT won't be happening for much longer if you know what I mean) but to have these subversive unapproved "ideas" circulated publicly is dangerous and disruptive. And for this filth to be dispersed by charlatans masquerading as our glorious People's Congress-comrades is downright TREASONOUS!

What garbage will be brought forth next? That Global Warming Climate Change is a myth? That the glorious stimulus program ISN'T working? That Obama is NOT QUALIFIED to be President? I don't mean to shock and frighten you (actually, I do because that will keep you fearful and angry and ready to do the Party's bidding) but this is the sort of poisonous drivel we can expect if we don't act to stop this kind of thing from happening NOW!

Comrades, we must all mobilize immediately and demand Congress create a federal information CZAR to approve and inspect any information released via the media or the internet. Poisonous criminals and fifth columnists must not be allowed to disrupt the Administration's plans to improve all our lives with their lies and deceit. The vermin who spewed forth this drivel must be arrested and brought to trial before their humane execution. Mobilize now! Destroy the blasphemers!

I concur!!!! A full meeting of the Inner Circle™ must convened as soon as possible. We could set up a sub-committee to study the problem. Of course, it could take a year or more before the sub-committee delivers a plan of action. In the meantime, we can order our useful idiots fellow travelers in the DNC's P.R. Dept. (ABC, NBC, CBS, and CNN) to attack this counter-revolutionary piece of trash and spread "correct" information about Obamacare to the unwashed masses.

To quote Pinkie, I'm good!

Red Square wrote:After the number of "caring," bleeding-heart politicians in Washington reached a critical mass, it was only a matter of time before the government started ordering banks to help the poor by giving them risky home loans through community organizers. Which resulted in a bigger demand, which resulted in rising prices, which resulted in slimmer chances of repaying the loans, which resulted in more pressure on the banks, which resulted in repackaging of bad loans, which resulted in a collapse of the banks, which resulted in a recession, which resulted in many borrowers losing their jobs, which resulted in no further mortgage payments, which resulted in a financial disaster, which resulted in a worldwide crisis, with billions of poor people overseas - who had never seen a community organizer, nor applied for a bad loan - becoming even poorer than they had been before the "progressives" in the U.S. government decided to help the poor.

As if that were not enough, the same bleeding hearts are now trying to fix this by nationalizing the banks so that they can keep issuing risky loans through community organizers. In other words, to prevent the toast from landing buttered side down, they're planning to butter the toast on both sides and hope that it will hover in mid-air. Which also seems like a sensible alternative energy initiative.

Lies are being spread that is for sure!

Just read the lies spread by this ugly comedian:

Don Rickles:

Hello, dummies! Oh my God, look at you. Anyone else hurt in the accident?

Seriously, Senator Reid has a face of a Saint - A Saint Bernard. Now I know why they call you the arithmetic man. You add partisanship, subtract pleasure, divide attention, and multiply ignorance. Reid is so physically unimposing, he makes Pee Wee Herman look like Mr. T. And Reid's so dumb, he makes Speaker Pelosi look like an intellectual. Nevada is soooo screwed! If I were less polite, I'd say Reid makes Kevin Federline look successful.

Speaking of the Speaker... Nancy Pelosi, hubba, hubba! Hey baby, you must've been something before electricity. Seriously, the Speaker may look like an idiot and talk like an idiot but don't let that fool you. She really is an idiot. Madame Speaker... want to make twelve bucks the hard way? Pelosi says she's not partisan, but her constituents call her Madame Pelossilini.

Charlie Rangel... still alive and still robbing the taxpayers blind. What does that make, six decades of theft? Rangel's the only man with a rent-controlled mansion. He's the guy who writes our tax laws but forgot to pay taxes on $75 grand in rental income! So why isn't he the Treasury Secretary? Rangel runs more scams than a Nigerian Banker.

Barney Frank - he's a better actor than Fred Flintstone. Consider... he and Dodd caused the whole financial meltdown and they're not only not serving time with Bubba and Rodney, they're still heading up the financial system! Let's all admit it... Barney Frank slobbers more than a sheepdog on Novocain. How did this guy get elected? Oh, that's right... he's from Massachusetts . That's the state that elects Mr. Charisma, John Kerry -- man of the people!

You know, if Senator Dodd were any more crooked, you could open wine bottles with him. Here's a news flash, Dodd: when your local newspaper calls you a "lying weasel", it may be time to retire. Dodd's involved in more shady deals than the Clintons . Even Rangel looks up to him!

Pre ss Secretary Robert Gibbs, I really respect you... especially given your upbringing. All you've overcome... I heard your birth certificate is an apology from the condom factory. I don't know what makes you so dumb, but it really works for you. Personally, I don't think you're a fool, but what's my opinion compared to that of thousands of others? Gibbs does his best expositional work in the bathroom every morning.

As for President Obama, what can I say? They say President Obama's arrogant and aloof, but I don't agree. Now it's true when you enter the room, you have to kiss his ring. I don't mind, but he has it in his back pocket. His mind is open to new ideas -- so open that ideas simply pass through it. Obama lies so much, I was actually surprised to find out his first name really was Barack. Just don't ask about his middle name! But Obama was able to set a record... he actually lied more in 60 days than Bill Clinton. As far as his administration -- what with the tax cheat and lobbyists -- well, in the words of Patches O'Houlihan, "It's like watching a bunch of retards trying to hump a doorknob out there."

With all due respect.


FOR THOSE THAT VOTED FOR "HOPE AND CHANGE"... BEND OVER AND PREPARE TO RECEIVE YOUR BOUNTY."

How do we stop this insanity?

Navigator wrote:FOR THOSE THAT VOTED FOR "HOPE AND CHANGE"... BEND OVER AND PREPARE TO RECEIVE YOUR BOUNTY."

How do we stop this insanity?

Democracy is the theory that the common people know what they want and deserve to get it good and hard.

H. L. Mencken

What an outrage comrades! Where are the barricades from last November? It's time to get on them again! How can His O'liness tolerate such blasphemous utterances? Who is responsible for this? I believe the Hanford Re-education Camp still has a few openings.

We MUST continue to strive for affordable housing. Screw the global economy, as it is nowhere near what it should be anyway - fully managed by an International Politbureau. Glory be to the next Seven Year Plan! My humble suggestion is for the State to forcibly buy out all mortgages with paper money borrowed from our friends the North Koreans - it is after all for The Common Good ™. Only then can we rid the suburbs of decadent one-family housing and build more efficient concrete apartment buildings to house the masses instead!

Genosse Pieck wrote:What an outrage comrades! Where are the barricades from last November? It's time to get on them again!

Forgive me Comrade. To carry the torch and HOPE for CHANGE is our great Leader's wish for us all! Like you, He is in a hurry to do many things as quickly as possible. It is nice to see you share His enthusiam for the work that needs to be done...NOW.

I re-cant my previous quote. Please accept the following korrect Hegelian message in it's place:

"But we don't have an example of a democratic society existing in a socialist economy - which is the only real alternative to capitalism in the modern world." - Peter L. Berger

Room 101 wrote:
"But we don't have an example of a democratic society existing in a socialist economy - which is the only real alternative to capitalism in the modern world." - Peter L. Berger

WHAT???

I DENOUNCE Comrade Room 101 for committing Thoughtcrime™. All American Progressives know that Sweden is the very MODEL of a democratic society with a socialist economy. This is what almost all American Socialists strive to emulate!!!!! But without all that democracy crap.

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The unwashed masses saw Sweden's model on a recent Daily Show and since all the "facts" were right there on television, I should have paid more attention. How ignorant of me to shun important media coverage. I should be watching the wonderful temple to mankind's achievements right now instead of thinking about matters better left to our Leaders........

I certainly DENOUNCE democracy!!!! WE should skip socialist democracy and go straight to totalitarianism. It would be much better for us since we really have no idea what is good for us.

Now for a quote from Lord Bama.

In America, there's a failure to appreciate Europe's leading role in the world.
Barack Obama

Lead on......