For those of you who claimed the market was not negatively reacting to positive Obama poll numbers and those of you who said the market would stabilize with a clear winner on election night - even if it was the socialist candidate - I offer you this.

A case of post-election nerves sent stocks plunging Wednesday as investors, again anxious about a recession, began questioning what impact a Barack Obama presidency will have on business and the overall economy. The Dow Jones industrials dropped more than 400 points and the major indexes all fell more than 4 percent.

Was this part of the Hope or part of the Change?

The Democrats offer America failed policies, resistance to reform in the face of impending crisis resulting from those failed policies, the most inexperienced candidate in Presidential history who’s also the most liberal member of a Senate their party controls that enjoys a single-digit approval rating.

It’s no coincidence that bad news for America (whether it’s foreign policy or domestic economy) translates into good news for Democrats. Think about it.

In 2005, Republicans were introducing legislation to regulate Fannie Mae and Freddie Mac, calling for investigations into accounting fraud by their executives (which eventually led to fines) and warning of an impending crisis while Democrats were receiving large financial contributions from the companies, claiming there was no impending crisis and trying to stonewall the investigations. During that time, the interim CEO of Fannie Mae spoke to the Congressional Black Caucus calling them “family” and the “conscience of Fannie Mae”…

Watch the whole thing for the answer…

The punchline… While Democrats had a field day raising links between George W. Bush and the likes of Ken Lay and other corrupt executives, they all ultimately got convicted and sent to prison… but the two biggest fish in the current corruption scandal didn’t go to jail, they joined the Obama campaign.

Oprah Winfrey’s mom is apparently pissed off that a store would have the audacity to give her a line of credit for which she isn’t going to paying back. In a story that sounds eerily reminiscent of the mentality that got the country into its current financial mess, Mama Winfrey racked up hundreds of thousands of dollars in shopping sprees to a clothing store, bailed on paying the bills and when sued by the store had the audacity to countersue claiming they shouldn’t have extended her the credit because she’s a deadbeat.

Waukesha - Oprah Winfrey’s mother should not have to pay a high-end fashion store the more than $150,000 it says it is owed because the store extended credit despite knowing her troubles managing debt, according to a new court filing.

Valentina Inc. sued Winfrey’s mother, Vernita Lee of Milwaukee, in July, contending that she racked up a bill of $155,547.31 in purchases and interest as of July 1. She was required to make a minimum monthly payment of $2,000 to the store, the suit says.

Mediation between the two sides failed last week, prompting Lee to file a counterclaim contending she does not owe the money.

But the store isn’t necessarily an innocent bystander as they were on notice that she was a deadbeat.

It is the second time Lee and Valentina have been in conflict over her wardrobe bill.

In 2002, Lee was ordered to pay $35,000 upfront and make monthly payments of $5,000 until another past-due bill of $174,285 was paid, according to court records.

While I wouldn’t propose letting her off the hook for her debts, it’s hard to defend a store that is this stupid. (Of course, knowing who her daughter is probably helped them be a little more relaxed in extending credit)

Michelle sums this up nicely:

This is exactly the same entitlement/victim mentality that has gotten us into the bailout mess we are in. Irresponsible spender demands limitless credit. Cries “predatory lender” when the chickens come home to roost. Borrow. Spend. Whine. Repeat

And the answer to this from Congress is to offer both offending sides money confiscated from we taxpayers.

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.

Date: Sat, 27 Sep 2008 10:26:50 +0100
Message-ID: [3FE4E0F500019E2B@mk-cpfrontend-1.mail.treasury.us.gov]
From: hank@treasury.gov
Subject: investment
To: american_taxpayer@screwed.com

Dear Sir,
I seek your strictist confidence in the ensuing matter. Through the courtesy of business opportunity, I take liberty anchored on a strong desire to solicit your assistance on this mutually beneficial and risk free transaction which I hope you will give your urgent attention.

My name is Mr. Henry Paulson, secretary of the United States Treasury. My duty as empowered by the American government is to provide free home loans in urban and rural areas and corporate bonuses for crooked executives.

This program includes assistance to local community organizing groups who promote election fraud and to coordinate safety nets for irresponsible borrowers. Furthermore,from this projects we have been able to secured some Reasonable amount of U.S.$700 billion (seven hundred billion US. dollars only) as commission from various member of Congress resulting from over invoicing ,hence all the necessary approvals has been completed.

These approved fund was packaged and dispatched through a security late night secret session and will be delivered to the recipients promptly.

These fund do not actually exist at the moment, so before we arrange for its movement to said recipients through diplomatic channel using decoy purporting that the fund belongs to the American taxpayer as protection from a financial crisis, we need you to stand as the beneficiary and claim the fund on our behalf from the congress.

Presently I am now in Washington to search for reliable taxpayers who will pay this fund on our behalf. And we have agreed to give you, in return a percentage of the total sum as commission for your Assistance/effort. I would greatly appreciate your assistance.

Please honor our transaction by sending your fax number and completing a form 1040, providing me your information in confidence and you will be richly rewarded soon.

I look forward to your response as soon as possible.

In Kindest regards,
Hank

UPDATE: Looks like YouTube banned the previous video claiming copyright infringement by Time Warner Group for the background music. I wonder why…

Let’s just take stroll down memory lane and see who was doing what in Washington, oh say, about 5 years ago….

September 11, 2003
New Agency Proposed to Oversee Freddie Mac and Fannie Mae

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.
…
Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

Remember this when Democrats try to blame President Bush and Republicans for the current economic fiasco.

And if that’s not enough, how about this:

Lehman Brothers collapse is traced back to Fannie Mae and Freddie Mac, the two big mortgage banks that got a federal bailout a few weeks ago.

Freddie and Fannie used huge lobbying budgets and political contributions to keep regulators off their backs.

A group called the Center for Responsive Politics keeps track of which politicians get Fannie and Freddie political contributions. The top three U.S. senators getting big Fannie and Freddie political bucks were Democrats and No. 2 is Sen. Barack Obama.

Hope and change, my friends… hope and change.

Now remember, he’s only been in the Senate four years, but he still managed to grab the No. 2 spot ahead of John Kerry — decades in the Senate — and Chris Dodd, who is chairman of the Senate Banking Committee.

Fannie and Freddie have been creations of the congressional Democrats and the Clinton White House, designed to make mortgages available to more people and, as it turns out, some people who couldn’t afford them

.
Surprise, surprise…

UPDATE: Since the media seems unconcerned with Obama’s affiliations with domestic terrorists and convicted criminals, maybe they’ll ask a few questions about Obama’s ties to the mortgage/financial crisis:

Don’t hold your breath, though…

UPDATE 2: More from Bloomberg:

But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.

Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.

There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

Oh, and there is one little footnote to the story that’s worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have averted this mess.

Much is being said today in the media about a home that had been built as part of the ABC television show, “Extreme Makeover: Home Edition”. Seems the family used the two-story mini-mansion as collateral for a $450,000 loan that they’ve now defaulted on and foreclosure proceedings have begun. And as part of the narrative regarding this whole mortgage meltdown, the MSM is portraying the homeowners as “victims“.

More than 1,800 people showed up to help ABC’s “Extreme Makeover” team demolish a family’s decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

Three years later, the reality TV show’s most ambitious project at the time has become the latest victim of the foreclosure crisis.

Let’s see. The family received a $450,000 home completely free. In addition, employees and company partners also raised $250,000 in contributions for the family. Then they went out and secured a loan against the house for nearly half a million dollars which they didn’t pay back.

Yet, they’re the victims.

Don’t get me wrong, I understand they had some horribly tough times before going on the show - in fact, it was their trials and tribulations that landed them on the show. But that victimhood doesn’t necessarily extend to their financial mismanagement of over a half million dollars. It was nice that they could receive all the benefits of a new home - bigger and nicer than most Americans will ever dream of owning - and a quarter of a million dollars, free of charge, because private citizens donated their time and energy to help a family in need.

The finished product was a four-bedroom house with decorative rock walls and a three-car garage that towered over ranch and split-level homes in their Clayton County neighborhood. The home’s door opened into a lobby that featured four fireplaces, a solarium, a music room and a plush new office.

But they got greedy with that charity. Here was a family who virtually had nothing before the show and received a $450,000 house for free and donations totalling $250,000. But that just wasn’t enough for them. So, instead of being thankful for a beautiful, free home that most Americans couldn’t afford, and a bundle of money it would take most people many years to earn, they needed more.

Yet, they’re the victims.

But never fear, here comes Congress and President Bush, just in time, to help folks like the Harpers. Courtesy of you, me and every other financially-responsible taxpayer, the Harpers aren’t going to have to feel the consequences of their greedy financial mismanagement.

The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes.

It should read, “the measure bails out many homeowners who greedily bit off more than they can chew at the expense of financially-responsible taxpayers around the country.”

Yet, they’re the victims.