Sunday, November 2, 2008

Subprime Disaster's High-Value Targets: The Deck

Card twelve.

This is our final card. While Obama may not have the same high visibility direct links that others in the deck have, like Franklin Raines and James Johnson, Chris Dodd and Barney Frank, the breadth of Obama's presence in the varying aspects of the subprime meltdown is disasterously impressive.

Let's return to Stanley Kurtz's NY Post article for his ties to ACORN.

WHAT exactly does a "community organizer" do? Barack Obama's rise has left many Americans asking themselves that question. Here's a big part of the answer: Community organizers intimidate banks into making high-risk loans to customers with poor credit. ...

IN short, to understand the roots of the subprime-mort gage crisis, look to ACORN's Madeline Talbott. And to see how Talbott was able to work her mischief, look to Barack Obama.

Then you'll truly know what community organizers do.

We'll again admonish anyone who hasn't already read the meat of that article to do so.

For another close link between Obama and subprime lending, how about his national campaign finance chair, Penny Pritzker:

White House hopeful Barack Obama talks a lot on the campaign trail about how failing banks have used subprime loans to victimize customers.

"Part of the reason we got a current mortgage crisis has to do with the fact that people got suckered in to loans that they could not pay," he told a crowd in Reading, Pa., last week. "There were a lot of predatory loans that were given out, a lot of teaser rates. Banks and financial institutions making these loans were making money hand over fist."

One of the banks that went under after making a lot of subprime loans -- leaving 1,400 of its customers without part of their savings -- was Chicago's Superior Bank.

At the helm of Superior Bank at least some of the time was Obama's national finance chairwoman, Penny Pritzker, an heiress to the Pritzker fortune.

And if that's not enough, let's judge Obama on his judgement in selecting former CEO of Fannie Mae, James Johnson, to head his VP selection committee.

And finally, let's note that Fannie Mae and Freddie Mac, the epicenter of the subprime disaster, found in Barack Obama a politician worth spending lots of money on. Obama has received over $126,000 from Fannie and Freddie in his not quite four years in the US Senate. To put that into perspective, only Senator Chris Dodd has received more money from Fannie and Freddie than Obama among congressmen -- and the money Dodd has received has come over a period from 1989 to today.

Barack Obama and the subprime disaster? His fingerprints are everywhere.



PREVIOUSLY:
Card one: Ace of Clubs, Christopher Dodd
Card two: King of Clubs, Charles Schumer
Card three: Queen of Clubs, Jamie Gorelick
Card four: Jack of Clubs, Kent Conrad
Card five: Queen of Hearts, Madeline Talbott
Card six: Jack of Hearts, Gregory Meeks
Card seven: King of Hearts, James Johnson
Card eight: Queen of Diamonds, Maxine Waters
Card nine: King of Spades, Harry Reid
Card ten: Ace of Diamonds, Barney Frank
Card eleven: King of Diamonds, Franklin Raines

2 comments:

  1. A worthy designation, for this, after all, is the man who would like us to believe his correspondence is of more importance than his legislation. He must be joking.

    ReplyDelete
  2. Great work...though scary...please don't let the joke be on us. Say no to this joker in the White House!!

    ReplyDelete