Democrats are the reason we’re in this economic fiasco today (even as their empty suit of a President claims the Democrat-induced meltdown is the fault of George Bush and Republicans). Democrats passed legislation designed to force banks into giving loans to folks who couldn’t repay them so they could pat themselves on the back and tout low-income and minority home ownership statistics. For the record, the Bush Administration tried to overhaul it in 2003, so did the Republicans in Congress in 2005. But Democrats opposed those measures.

And here we go again.

Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.
…
In a letter to the CEO’s of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold “may be too onerous” and could lead condo buyers to shun new developments, according to the paper.

The legislators asked the companies to “make appropriate adjustments” to their underwriting standards for condos, the paper added.

In an interview with the paper, Weiner said the rules have “had a real chill on the ability to get these condos sold,” at a time when prices of condos have fallen enough to attract potential buyers.

Recession. Rinse. Repeat. The problem for Barney and his corrupt cohorts now is there ain’t a Republican in sight to cast blame upon. So whose fault will this disaster be?

The Community Organizer in Chief has unprecedented chuztpah. He and his team of economic “advisors” are spending the day pretending to be outraged by the bonuses AIG paid out to executives.

“How do they justify this outrage to the taxpayers who are keeping the company afloat,” the president said.

The same way you justify taking the tax money in the first place. Hopenchange.

Sure, it’s worth fuming about that our tax money was handed over to a company that lost over $60 billion in a single quarter, who used part of that money to pay bonuses totaling $450 million to a handful of executives. But when you’re the guy who wore the mask into the bank, you hardly have standing to complain about how the stolen cash was distributed after the robbery.

Said Obama: “All across the country, there are people who work hard and meet their responsibilities every day, without the benefit of government bailouts or multimillion-dollar bonuses. And all they ask is that everyone, from Main Street to Wall Street to Washington, play by the same rules.”

Did he seriously just say that? I realize Captain Teleprompter is just reading what’s on the screen, but in light of his plan to use the tax money of responsible borrowers to bailout deadbeat mortgagees, how does he actually say these lines with a straight face?

Rep. Barney Frank, chairman of the House Financial Services Committee, earlier Monday charged that the move to pay bonuses amounted to “rewarding incompetence.”

They same thing could be said about Congressional salaries. Especially considering that Congress that played a major role in creating this mess to begin with.

Frank said he was disgusted, asserting that “these bonuses are going to people who screwed this thing up enormously.”

So sayeth the Chairman of the House Financial Services Committee who voted for the legislation that made our tax money available for the bonuses.

Democrats, salivating over the prospect of having complete, unchecked control in Washington are starting to reveal the plans they have in store for America… and it doesn’t look good.

First, John Kerry wants a “New Deal 2“. While Republicans are pressing to give money back to those who earned it, Democrats are looking to take your money (confiscated throught taxes) and go on a wild spending spree of new social programs and government handouts. Just wait until they decide that $250k isn’t the line measuring who is “rich” but rather that the line should be drawn somewhere around $100k… or maybe $50k… it’s what they’ll have to do in order to pay for their cradle-to-grave government policies.

Then there’s Barney Frank, one of the perpetrators of the financial meltdown, who is saying that the unprecedented $700 billion bailout package was just the tip of the Democrat iceberg that they plan to ram into the bow of the American economy. He supports Obama’s plan to spread your wealth to others. And he says that if Republicans in the House don’t get on board in the next few months, they’ll just wait ‘em out and launch an even bigger spending spree on the American public when they take full control of the government in January.

Oh, and while the Democrats are proposing to increase the size of the nanny state, they’re proposing to slash the military.

So I guess when the generated international crisis shows up to test the mettle of the inexperienced Barack Obama, we better hope it has to do with social security and not homeland security.

We can protect against this idiocy by electing Republicans up and down the ticket in every state. Democrats will still most likely maintain both houses of Congress, but if they take enough seats in the Senate and Obama takes the White House, there will be zero check on their power. Every idiotic, socialistic, spread-the-wealth, anti-military, tree-hugging policy will become law. And Barack Obama would also have a rubber stamp for any lifetime Supreme Court nominations he chooses.

At the same time Democrats are admitting that the government can’t do anything right, they plan to give it more power, more control, more of your hard-earned money to blow.

At a time when the Congressional approval rating is at a historic low, they’re asking you to give them the ability to implement more of their bad policies unilaterally.

Think about it.

More Socialist-speak from the Left. Note how he says he’d have more influence over a President Obama than a President McCain. Something to think about when you cast your ballot.

Transcript:

Bartiromo: Alot of things to pay for here and this second stimulus is being talked about at $300 billion. If, in fact, we were to see something like that move forward, are you going to encourage Senator Obama and Senator McCain to change their tax and spending plans in order to pay for all this?

Frank: Well I do think in this case… Let me say, my encouraging will probably have more impact on Senator Obama than Senator McCain.

Bartiromo: So do you want to encourage him to pull in his spending plans?

Frank: Well I think at this point, there needs to be an focus on an immediate increase in spending and I think this is a time when deficit fear has to take a second seat. I do think this is a time for a very important, kind of, dose of Keynesianism. Yes, I believe later on there should be tax increases. Speaking personally, I think there are a lot of very rich people out there whom we can tax at a point down the road and recover some of this money.

Barney Frank, Chairman of the House Financial Services Committee, who’s boyfriend was a Fannie Mae executive that stood to gain from laws passed by Frank’s committee, and who looked the other way when Republicans were trying to investigate and regulate Fannie Mae/Freddie Mac, the organizations behind the economic collapse, is now suggesting that we need to take more money from hard-working Americans and push the bailout plan he’s partly responsible for to $1 trillion.

Just a taste of things to come if Democrats gain unfettered control of Washington.

Listen to this 2004 hearing to investigate the shenanigans going on at Fannie Mae and Freddie Mac as indignant Congressional Democrats repeat the notion that there’s nothing wrong, there’s no impending crisis, everything’s fine. They even have the audacity to attack the regulator who’s warning them about the potential financial crisis.

Of course, they had to say that. Democrats are the reason we’re in this fiasco today (even as their empty suit of a candidate claims the Democrat-induced meltdown is “a final verdict on eight years of failed economic policies promoted by George Bush”). They passed legislation designed to force banks into giving loans to folks who couldn’t repay them so they could pat themselves on the back and tout low-income and minority home ownership statistics. For the record, the Bush Administration tried to overhaul it in 2003, so did the Republicans in Congress in 2005. But Democrats opposed those measures. It’s all part of the socialist state design. Take from the producers and give to the non-producers. Redistribute wealth.

And they’re about to do it again with this monstrosity of a “bailout” bill. They’re going to force you and I to pony up $700 billion to clean up the mess they created. Those who defaulted on their loans and the executives like Obama’s Economic Advisor Franklin Raines (former CEO of Fannie Mae) and Obama’s VP Search Team Lead, Jim Johnson (former Chairman of Fannie Mae) and many others who received tons of money from this epic scam will walk away wealthy and without remorse…. and you and I, because we work hard, are financially responsible and pay our bills on time will be saddled with yet another government invoice.

Watch this video, send it everyone you know. Let them see how Democrats were acting when Republicans tried to head off this financial quagmire. Let the public see how corrupt, incompetent and criminal the Democrats are. Let them see just who is responsible for this financial disaster.

Hell, just look at the bailout bill, itself and you’ll see how brazen the scum-sucking Democrats are. They’re including a provision that requires Treasury to divert 20% of all profits away from taxpayers and towards left-wing advocacy groups like the election fraud promoting ACORN.

So Democrats have used groups like ACORN to commit voter fraud in elections all over the country. Once in power, Democrats have passed legislation forcing private businesses to take on risky loans so they can tout “affordable housing” statistics for their low-income and minority constituents. Then when the biggest financial crisis of our time hits because of their socialist policies, they first ignore it, then get indignant at regulators calling them on their scam, then blame Republicans for causing the problems. When the financial crisis reaches a boiling point, they ask responsible, hard-working Americans to pony up hundreds of billions of dollars and divert some of it to their fraud-committing, community-organizing groups.

And the circle of Democrat life is complete.

Throw them all out. Now.