Audio: Plenty of Blame on Economy
October 10, 2008
While doing research for my show I came across some old audio clips of former HUD secretary Andrew Cuomo talking about giving home loans to people who wouldn’t otherwise qualify except for a little extra government help. Cuomo himself called it “affirmative action.” You can view the video, from 1998, here. He admits the risk of these loans in the piece saying there will be a higher rate of default. The point is that The Clinton Administartion and Congress knew very well that there were risks. But, they thought the risks were worth it. And when I say Congress, I mean both Republicans and Democrats.
There is too much blame here to point to one person. But, you be sure Congress gets some of the blame too. In this podcast I outline the reality of this housing and economic crisis and where it stems from. In addition to the Cuomo audio, Rep. Barney Frank in 2003 said “I don’t see any financial crisis here,” and Sen. Chuck Schumer in 2005 said, “things are good in the housing market. Why are people entertaining radical change?” In 2005, there was a move to provide more oversight into Fannie Mae and Freddie Mac, but the Democrats thrwarted it with the belief that Schumer was right. Listen to the audio podcast below.
Oh Great Oz Ankarlo, RICO Lobbyist and Hero of the Hood! Hows that 401k? Hows that value going in the neighborhood? Hows that college tuition, student loans going? Just one more left and America is stuck on “AIMS” Nationwide!
Oh Great Oz Ankarlo, RICO Lobbyist and Hero of the Hood! Hows that “Pre Empt” attack on every Americans wallet! Old, young, middle class, broke, poor, rich, saggy bottom no belt wearing, white, black, hispanic, asian, canadian and immigrants alike getting stroked by Bush/Cheney “Final Days” Doctrine? Feeling a little scare, a little “psychological” and mental about your wallet, your family, your wealth? 700 points today, 700 points yesterday! Good news bad news, and when George Bush or John McCain Speaks, no news is good news!
Oh Great Oz Ankarlo, RICO Lobbyist and Hero of the Hood! Big Poppy giving a new perspective on The Great History of America.
The Messaih is coming, the Messaih is coming and Pat Roberts didn’t say it first! Parsley didn’t say it first! Hagee didn’t say it first! The Messaih is coming, the Messaih is coming and he’s “black” and he “prays.” He doesn’t sag! He wears a belt, he’s a Constitutional Scholar, he’s a former 8 year Proffessor of Law. The Messaih is coming, the Messaih is coming and Ted Haggert didn’t snort some Meth and say it first! Ankarlo, come to me! Ankarlo come to me! Ankarlo come to me! Come sell my GOP Republican Crack! Ankarlo, come to me! Ankarlo come to me! Come sell some more K-Street Pie with ACORN Magic Sugar. The Messaih is coming, the Messaih is coming, and he’s black and he prays! It’s his fault we were “spied” on! It’s his fault we were “datamined” and “wiretapped.” Ankarlo, Ankarlo, come to me! Come spit out some more GOP Republican Crack, we are almost done “Consolidating” America unto him!
The Secretary! He’s not black, brown eyes, brown skin, but he does suffer from the “Lack of Light”
Ankarlo
I have an idea to get rid of these losers in Washington.I think there should be a grassroots effort for term limits for all the representatives.Put it on the ballot!
It would go something like this:4 year term for all representatives in both houses..once your term is over you MUST leave Washington.You are prohibited from being a lobbyist,so is your immediate family.You would get a nice paycheck,however You do not get a retirement from the goverment for your service,you get a pat on the back and a general feeling of accomplisment for the time you served your constituents. Also one more important note anyone who serves, that is convicted of any bribery,fruad,etc while holding this office will be held to another term limt of a minimum 10 years in federal prison..what do you think?
jim