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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: cirrus who wrote (51477)	10/14/2008 12:12:17 PM
From: ManyMoose	Respond to of 224691

I received the following in an email: Written by Jerry Teasley of Pine Mountain , GA former Banker Most of my friends know, I have tried to stop thinking, but I can't help it in the wake of all the recent economic news. My banking career started in 1970 and ended in 1993, but I still keep close ties to the industry. During my banking years I did learn one or two things along the way. The problem with our economy today is from a liberal thinking congress, senators, and presidents, as well as greed and dishonesty.. When you put these together it spells disaster in any area of our life. Ask any banker (just walk in and ask one that has been there for 15 or 20 years) and they will tell you these are the FACTS: * Under Jimmy Carter we received the Community Reinvestment act. This law says banks have to make loans in low income areas and it has forced many lending institutions to seek to make loans to people in areas that lenders would not normally go because of the risk and low property values. (Sub Prime Loans). This was in 1977. In 1980 president Carter and a Democratic controlled congress passed the Depository Institutions Deregulation and Monetary Control Act-- The law also removed the power of the Federal Reserve Board of Governors under the Glass-Steagall Act and Regulation to set the interest rates of savings accounts. A sad fact is we are all still feeling the effects of his policies and decisions 30 years later. <http://en.wikipedia.org/wiki/Glass-Steagall_Act <http://en.wikipedia.org/wiki/Regulation_Q * Then in 1995, Bill Clinton, made changes to the Community Reinvestment Act, that forced an increase in the number of loans to these people and the aggregate dollar amounts loaned.-- Larger loans to people with less income in areas where the collateral value would go down instead of up. This was in response to pressure from "community organizer." Can you think of a former Community organizer running for president? Hint - he's a Democrat. * In 1999 Mr. Clinton signed to repeal the Glass-Steagall act which had protected taxpayers since the Great Depression. * In 2003 President Bush tried to propose a change in regulatory control over Freddie Mac and Fannie Mae and place both companies under the control of the Department of the Treasury, but was voted down by the liberal democrats led by Barney Frank. Remember the name Barney Frank, he is one of Osama's top two economic advisors the other is Jim Johnson who was the head of Freddie Mac and walked away with $24,000,000. * Now, Mr. Obama and his liberal cronies are spinning the facts so you will believe that all our financial problems are because of Bush's failed economic policy. However, OBAMA'S two MOST TRUSTED ECONOMIC ADVISERS TO HIS CAMPAIGN are the very people that were in control of Freddie Mac- Jim Johnson $24,000,000 and Fannie Mae - Franklin Raines $90,000,000 in 6 years). In addition, since 1989 their have been several politicians who have received campaign donations and kick backs from these two failed institutions. The #1 recipient is Senator Chris Dodd-D RI and the runner up is none other than Senator Barrack Obama who received the second largest amount of donations (over $500,000) which is phenomenal because he has only been in the Senate for 3 years. When Enron went belly up, we demanded Senate hearings and investigations. Why aren't the Democrats demanding the same with these companies? But, oh yeah, I forgot. It is Bush's fault! (Yeah, Right, Sure it is). Just ask a Banker. I am Jerry Teasley, banker, and I approved this email.

To: cirrus who wrote (51477)	10/14/2008 12:13:54 PM
From: DizzyG	1 Recommendation Read Replies (1) \| Respond to of 224691

Incorrect, cirrus... This was an event for Alice Palmer, not a "coming-out party" for Obama. Obama was invited by Palmer to the event and Palmer introduced Obama to the attendees. Like most of what you post here, that is only half the story. But hey don't take my word for it. Let's let one of the attendees of this Liberal soirée tell his story: Now, as Obama runs for president, what two guests recall as an unremarkable gathering on the road to a minor elected office stands as a symbol of how swiftly he has risen from a man in the Hyde Park left to one closing in fast on the Democratic nomination for president. “I can remember being one of a small group of people who came to Bill Ayers’ house to learn that Alice Palmer was stepping down from the senate and running for Congress,” said Dr. Quentin Young, a prominent Chicago physician and advocate for single-payer health care, of the informal gathering at the home of Ayers and his wife, Dohrn. “[Palmer] identified [Obama] as her successor.” politico.com Do try to keep up, cirrus... Diz-