Video: Stanley Kurtz on Obama, ACORN, and the CRA

posted at 4:45 pm on September 30, 2008 by Ed Morrissey

I covered this yesterday from Stanley Kurtz’ column in the New York Post, but the video makes the point a little more clear. Kurtz tells Steve Doocy and Gretchen Carlson that the financial collapse started with ACORN and other “community organizers” pressuring banks to make bad loans. Barack Obama has longstanding ties to ACORN, which Kurtz wants to bring to light:

STEVE DOOCY: Meanwhile, let’s talk a little bit about this. Could Barack Obama’s former occupation as a community organizer have had a role in the current financial crisis. Joining us right now from our D.C. Bureau, we’ve got Stanley Kurtz, a Senior Fellow at the Ethics in Public Policy Center. Stanley, let’s talk a little bit about this. We understand that in one of the versions of the bailout bill, apparently the Democrats tried to give an organization called ACORN 20%. All right. What is ACORN? And then we’re going to get into Barack Obama’s connection to it. What does ACORN do?

STANLEY KURTZ: Well, ACORN really is at the root of the problem here. ACORN is a group of community organizers, and they specialize in putting pressure, really kind of intimidation tactics, on banks, to get these banks to make high risk loans to low credit customers, and of course that’s very much the source of this whole problem. And they do things like breaking into the private offices of bank officials. They even show up at the homes of bank officials, to scare them and their families. They send demonstrators into lobbies of banks, all to get banks to make these high risk loans to people with low credit.

GRETCHEN CARLSON: What is Barack Obama’s affiliation with ACORN?

KURTZ: Barack Obama had very close ties to ACORN and in particular to the head of Chicago ACORN. Her name was Madeleine Talbot. Madeleine Talbot was an absolute pioneer of these intimidation tactics against banks, and Barack Obama was selected by Madeleine Talbot when he was just sort of a wet behind the ears organizer, she recognized his abilities, and she asked him to train her personal staff. When he came back to Chicago from law school and Madeleine Talbot was really beginning her campaign against these banks, Barack Obama trained the leadership of organizers in ACORN in Chicago.

DOOCY: So Stanley, you’re talking about how ACORN in the past has pressured banks to illegally make loans to people who cannot afford houses, so in effect you’re saying ACORN is one of the foundation or the cornerstones of the crisis that is we’re in right now?

KURTZ: That’s absolutely right. These loans weren’t illegal. In fact, there was a law that allowed ACORN to put on this pressure, the community reinvestment act enabled ACORN to levy complaints against banks when they wanted to merge or expand if they hadn’t made sufficient loans in minority communities, and so using this law, ACORN was able to pressure banks into making high risk loans.

DOOCY: All right, Stanley Kurtz, senior fellow at the Ethics in Public Policy Center, thank you very much for talking to us a little bit about ACORN.

It’s important not to get too carried away with the ACORN connection in the collapse. The real trigger came when Fannie Mae and Freddie Mac began buying up all of these loans and converting them into securities. Without that impetus, which began in 1999 and ran wild under the management of Franklin Raines at Fannie, lenders would have responded to the nuisance complaints by extending lending just enough to comply with the CRA.

Fannie Mae was the real culprit. By creating a market for questionable loans, they encouraged lenders to loan money to anyone willing to accept it, because the lenders could make short-term profits by selling the paper back to Fannie Mae.  Instead of holding the paper themselves, though, Fannie (and Freddie) converted them into mortgage-backed securities (MBSs) at greatly inflated value, thanks to the artificial demand Raines created.  Had Fannie and Freddie held the paper themselves instead of looking for a short-term profit of their own, then their collapse would have had a much smaller effect on the worldwide financial markets.

Instead, Congress mandated the sale of MBSs, and we are where we are now.

The ACORN connection is an interesting political story more than a financial issue now.  It reveals the tactics of Obama and his allies, in a way that makes the recent story of Obama’s Truth Squad thuggery more understandable.  Obama doesn’t represent a post-partisan brand of New Politics, but instead the Saul Alinsky tactics of the New Left radicalism that erupted in the 1960s.


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Trim it to a minute, and add “I’m John McCain and while I don’t approve of democratic corruption, I approve of this message”

Vashta.Nerada on September 30, 2008 at 4:46 PM

I like Stanley Kurtz, but the sad fact is that none of this is gonna make a damn bit of difference. We’re headed to a redux of the 1990s: one scandal after another, one MSM yawn after another.

Jim-Rose on September 30, 2008 at 4:48 PM

Well, ACORN really is at the root of the problem here. ACORN is a group of community organizers…

Ya hear that Johnny Mac? Ya hear that? People are trying to get thru yer thick skull how to attack this dope and you run around talking about bipartisanship.

Akzed on September 30, 2008 at 4:51 PM

worse than the 90′s this time.

and the Obama brown shirts may silence Kurtz once he’s inaugurated. Get say anything negative about Dear Leader

jp on September 30, 2008 at 4:51 PM

Okay Ed, so the snowball really started with ACORN… but we should just ignore that and focus on the layers piled on by Fannie and the “speculators” that Barry rails about ad nauseum? Got it…
Let’s move along now and elect the One.

max1 on September 30, 2008 at 4:52 PM

I am going to invest in pitchforks……for the coming “clean out” in D.C.

grapeknutz on September 30, 2008 at 4:53 PM

Is there a direct connection between Raines & ACORN? Did Fannie & Freddie give money to ACORN during Raines years?

PappaMac on September 30, 2008 at 4:55 PM

Can someone explain why Franklin Raines is not in jail?
I am asking seriously, if someone can explain it.

neuquenguy on September 30, 2008 at 4:55 PM

Okay Ed, so the snowball really started with ACORN… but we should just ignore that and focus on the layers piled on by Fannie and the “speculators” that Barry rails about ad nauseum? Got it…
Let’s move along now and elect the One.

max1 on September 30, 2008 at 4:52 PM

um Barry says FM/FM were blameless and hinting that Raines cooked the books is racist….you need the latest hymnal friend.

sven10077 on September 30, 2008 at 4:55 PM

jp’s right.

Barack X will make Clinton look like Bush 41. I don’t remember Clinton having SA Brownshirts, oops, “Truth” Squads. Carville and Begala were likeable compared to the pro-Obama douchebags.

PimFortuynsGhost on September 30, 2008 at 4:55 PM

SA BrownGreenshirts

FIFY

*eats*

Grue in the Attic on September 30, 2008 at 4:57 PM

Four years of bowing to our Obama master will strengthen us for our ultimate Chicom master.

anniekc on September 30, 2008 at 4:59 PM

I have to give Bill O’Reilly credit for this but the ad should be:

If you elect Obama, here is who you will get, and then show Polosi, Frank, Dodd, Emmanuel (that evil, evil man), Raines, Johnson, Ayers, Farrakhan……. Yes, yes I know, that’s too volatile, too unP.C. but what the heck, I say pull out all the stops.

Vince on September 30, 2008 at 5:00 PM

Let me be the first…

To welcome our new Nutty Masters…

Romeo13 on September 30, 2008 at 5:00 PM

Nice to see this is getting coverage but besides the choir who else is listening?

moxie_neanderthal on September 30, 2008 at 5:01 PM

This sounds like one of Jesse uh Jaxson’s shake-down and extort orgs.
I like pitchforks…I’ll second that investment, grapeknutz!

Christine on September 30, 2008 at 5:01 PM

Obama doesn’t represent a post-partisan brand of New Politics, but instead the Saul Alinsky tactics of the New Left radicalism that erupted in the 1960s.

No, get out!

Welcome to the party pal.

benrand on September 30, 2008 at 5:02 PM

um Barry says FM/FM were blameless and hinting that Raines cooked the books is racist….you need the latest hymnal friend.

sven10077 on September 30, 2008 at 4:55 PM

thanks sven, i stand corrected, you’re right, Zero mentions only “speculators” brother Raines’ hands are of course clean…

max1 on September 30, 2008 at 5:04 PM

Jim-Rose on September 30, 2008 at 4:48 PM

Pretty much sums it up: the preacher preaching to the choir.

ManlyRash on September 30, 2008 at 5:04 PM

neuquenguy on September 30, 2008 at 4:55 PM

I’m with you. Everytime I hear this story I am amazed Raines isn’t in jail.

ctmom on September 30, 2008 at 5:05 PM

If you elect Obama, here is who you will get, and then show Polosi, Frank, Dodd, Emmanuel (that evil, evil man), Raines, Johnson, Ayers, Farrakhan……. Yes, yes I know, that’s too volatile, too unP.C. but what the heck, I say pull out all the stops.

Vince on September 30, 2008 at 5:00 PM

Forgot Rezko, oh I forgot, he’s the one they might not be able to keep out of jail (there is always presidential pardon though)

neuquenguy on September 30, 2008 at 5:05 PM

“I don’t remember Clinton having SA Brownshirts, oops, “Truth” Squads. Carville and Begala were likeable compared to the pro-Obama douchebags.” PimFortuynsGhost
I believe that the anti-bimbo eruption goon squad was Hillary’s. Bill was too busy telling anyone who would listen that since he didn’t have ‘real’ sex with that ‘woman’, he hadn’t cheated on his ‘wife’. Yes, HillyBilly set the stage for this far left, half black, empty suit for the commie cause and He has out-done them, without a hint of shame. He’s covered.

Christine on September 30, 2008 at 5:08 PM

I like pitchforks…I’ll second that investment, grapeknutz!

Christine on September 30, 2008 at 5:01 PM

I’ll bring the torches.

Alden Pyle on September 30, 2008 at 5:11 PM

thanks sven, i stand corrected, you’re right, Zero mentions only “speculators” brother Raines’ hands are of course clean…

max1 on September 30, 2008 at 5:04 PM

we’re all in this together comrade…

sven10077 on September 30, 2008 at 5:12 PM

Ok, the ACORN connection doesn’t need to hammered into the ground, but it’s still an armor-piercing round in the belt of ammo that Mac has at his disposal.

Mac could make Obarfo dance if he wanted to, responding on an hourly basis to hit after hit after hit.

http://www.youtube.com/watch?v=9gj9uEeuDtQ&feature=related

Bishop on September 30, 2008 at 5:13 PM

Mac could make Obarfo dance if he wanted to, responding on an hourly basis to hit after hit after hit.

http://www.youtube.com/watch?v=9gj9uEeuDtQ&feature=related

Bishop on September 30, 2008 at 5:13 PM

Oh if ONLY.

*eats*

Grue in the Attic on September 30, 2008 at 5:16 PM

This will cheer you up…of the 500 stocks that make up the S&P 500, only 1 – count ‘em, 1 – increased in value yesterday: Campbell Soup.

flipflop on September 30, 2008 at 5:16 PM

neuquenguy, I understand there is an investigation going into the past dealings of Fannie, Freddie, Fraklin Raines and Jim Johnson, that sub poenas had been issued. I think it was Weekly Standards blog where I saw it today.

goat on September 30, 2008 at 5:19 PM

Ed, thanks for the post.
This sounds like the same tactics used by the homosexual groups to push their agenda.

Mulligan on September 30, 2008 at 5:21 PM

I wonder how long before Fox and Friends start receiving letters from Obama Goons to cease and desist in airing these type of stories?

mindhacker on September 30, 2008 at 5:24 PM

Fannie Mae was the real culprit.

NO!

The real culprits are the people who ran the organization and the politicians who forced bad loans on the marketplace.

We just can’t say this enough! Calling an entity the culprit just waters down the truth and muddies the waters.

JonPrichard on September 30, 2008 at 5:25 PM

Forgot Rezko, oh I forgot, he’s the one they might not be able to keep out of jail (there is always presidential pardon though)

neuquenguy on September 30, 2008 at 5:05 PM

Obama and his wife got $300K knocked off the $1.65M asking price for the home they purchased in a seller’s market. The same day, Obama’s seller also sold a vacant lot adjacent to Obama’s new home to Rezko’s wife for the seller’s $625K asking price. Anyone else wonder whether Rezko found a way to get the seller his $300K for Obama? Crickets from the media.

BuckeyeSam on September 30, 2008 at 5:28 PM

“It’s important not to get too carried away with the ACORN connection…”

I kinda disagree. This is an excellent example of the one’s judgment and IMO disqualifies him from POTUS. If this were leveled effectively by McCain or especially by Palin it would be devastating.

America1st on September 30, 2008 at 5:28 PM

OT but I’m itching to say it. In the last 2 days the Dow is down 2.6% or 292 points. The sky is falling? Nah!

flip-flop, Campbell soup does cheer me up but how many up today in the S&P?

Vince on September 30, 2008 at 5:31 PM

I wonder how long before Fox and Friends start receiving letters from Obama Goons to cease and desist in airing these type of stories? – mindhacker on September 30, 2008 at 5:24 PM

November 5, 2008

ManlyRash on September 30, 2008 at 5:33 PM

I wonder how long before Fox and Friends start receiving letters from Obama Goons to cease and desist in airing these type of stories?
mindhacker on September 30, 2008 at 5:24 PM

You know, I might agree with the goons on that one; Fox and Friends is brooootal.

Bishop on September 30, 2008 at 5:34 PM

And they do things like breaking into the private offices of bank officials. They even show up at the homes of bank officials, to scare them and their families

Stanley Kurtz had better hire some good bodyguards. Ditto for the Fox News Channel studio.

But it’s GREAT that Obama’s thuggish tactics are exposed on TV, even if it’s only Fox News. Next get him on Hannity&Colmes, then we need a 527 group to start making this into ads.

Fannie and Freddie are responsible for the crisis, not ACORN alone, but the connection needs to be made: Franklin Raines and Jim Johnson, formerly of Fannie, made millions and support Obama; McCain (and others) tried to reform Fannie and Freddie in 2005, and were blocked by Democrats, who were pushing risky loans.

Somebody did a survey of the political viewpoints of Fox News viewers, and came out with 39% R, 33% D, and 28% I. If enough of the D’s and I’s start hearing about this, they might not be so eager to vote for Obama…

Steve Z on September 30, 2008 at 5:35 PM

It’s important not to get too carried away with the ACORN connection in the collapse.

Oh, I beg to differ.

flipflop on September 30, 2008 at 5:38 PM

STANLEY KURTZ: Well, ACORN really is at the root of the problem here.

Ed, Kurtz says “really is [in many ways] at the root”

Better to be accurate.

Mr_Magoo on September 30, 2008 at 5:39 PM

flip-flop, Campbell soup does cheer me up but how many up today in the S&P?

Vince on September 30, 2008 at 5:31 PM

I’m just trying to whip up enough fear so that I can finally make my move and proclaim myself Generalissimo and Absolute Supreme Dictator (for life).

flipflop on September 30, 2008 at 5:44 PM

Is there a direct connection between Raines & ACORN? Did Fannie & Freddie give money to ACORN during Raines years?

PappaMac on September 30, 2008 at 4:55 PM

This analysis shows how the connections all come together.

NTWR on September 30, 2008 at 5:47 PM

The whole scandal is a hybrid of street politics with high finance.

People like Obama’s current economic advisor, Robert Rubin, needed the suckers at the bottom of the pyramid to make it work.

Congress passes Financial Services Modernization Act

After 12 attempts in 25 years, Congress finally repeals Glass-Steagall, rewarding financial companies for more than 20 years and $300 million worth of lobbying efforts. Supporters hail the change as the long-overdue demise of a Depression-era relic.

On Oct. 21, with the House-Senate conference committee deadlocked after marathon negotiations, the main sticking point is partisan bickering over the bill’s effect on the Community Reinvestment Act, which sets rules for lending to poor communities. Sandy Weill calls President Clinton in the evening to try to break the deadlock after Senator Phil Gramm, chairman of the Banking Committee, warned Citigroup lobbyist Roger Levy that Weill has to get White House moving on the bill or he would shut down the House-Senate conference. Serious negotiations resume, and a deal is announced at 2:45 a.m. on Oct. 22. Whether Weill made any difference in precipitating a deal is unclear.

On Oct. 22, Weill and John Reed issue a statement congratulating Congress and President Clinton, including 19 administration officials and lawmakers by name. The House and Senate approve a final version of the bill on Nov. 4, and Clinton signs it into law later that month.

Just days after the administration (including the Treasury Department) agrees to support the repeal, Treasury Secretary Robert Rubin, the former co-chairman of a major Wall Street investment bank, Goldman Sachs, raises eyebrows by accepting a top job at Citigroup as Weill’s chief lieutenant. The previous year, Weill had called Secretary Rubin to give him advance notice of the upcoming merger announcement. When Weill told Rubin he had some important news, the secretary reportedly quipped, “You’re buying the government”

From 2000:

In light of Mr. Rubin’s brazen activities, one wonders just what it would take for Congress or the Clinton Administration to investigate ethical violations of former top officials. If only the stakes were confined to Mr. Rubin’s new eight-digit annual salary. But with the repeal of Glass-Steagall, the weakening of the Community Reinvestment Act, and the prospect that our banks will now get caught up in today’s casino stock market, Americans may eventually pay a much higher price for Mr. Rubin’s ethical conflicts.

econavenger on September 30, 2008 at 5:49 PM

Rinse and repeat.

Fuquay Steve on September 30, 2008 at 5:49 PM

I can’t help wondering if the reason the McCain camp doesn’t put the spotlight on this subject is due to some irrational fear that he will lose the African-American vote.

Like he could possibly GET more than a couple percent, Anyway?????

Star20 on September 30, 2008 at 5:50 PM

Sign up for bacack obama’s website (fake name and e-mail of course)

Join tons of groups

Post messages about Obama and his criminal friends

Watch the Obamamaniacs respond and cry

Until his thought police come poking around

It took ten minutes of rapid-fire blog postings about Obama and his socialistic views, terrorist friends, felon friends and shady political allies until the official goon squad removed me from the groups, postings etc

Contest: how fast can you be targeted by the Obama goon squad on barackobama.com

reshas1 on September 30, 2008 at 5:50 PM

Contest: how fast can you be targeted by the Obama goon squad on barackobama.com – reshas1 on September 30, 2008 at 5:50 PM

Why waste time doing this now when I have four years to duck his goon squads after he’s elected president?

ManlyRash on September 30, 2008 at 5:54 PM

Seems both Ed and Allah twist themselves into pretzels trying to be “fair”, sadly just as GW won’t repudiate the absolute crap that the Dems/MSM keep spewing, the moderators hear try to give the benefit of the doubt to those that would not hesitate to piss down their throats. I understand the need to be fair when both sides of any argument respect intellectual integrity and play to the moral high ground, but the liberals (Huff&puff, Dkos, Dem.underwear, etc.)have demonstrated no such discipline. We are losing this war, the time to adhere to Queensberry rules has long passed, set loose the dogs of war, out terror the terrorists. The stakes are real, our why of life is threatened. Occupying the moral high ground is a slogan that never won a war.

dmann on September 30, 2008 at 6:02 PM

dmann on September 30, 2008 at 6:02 PM

Too late. Next step: secession.

ManlyRash on September 30, 2008 at 6:09 PM

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html

NTWR gave a great link to a detailed analysis of Obama’s network and strategy, that all HotAir readers should read:

It’s an article by James Simpson in the 9/30/08 edition of American Thinker, entitled “Barack Obama and the Strategy of Manufactured Crisis”.

I don’t know how many people read American Thinker, but this needs to be spread around!!!

Steve Z on September 30, 2008 at 6:13 PM

McCain has to bring this up at the debate. It’s one of the few chances he has left to swing voters his way.

One other thing McCain could do is use one of the dirtiest words available – NATIONALIZATION. It’s what the democrats want to do to vital industries. Maxine Waters let it slip a few weeks ago concerning oil companies, but most Democrats are smart enough to wait until a Dem is in the White House before floating that boat. What’s the difference between Maxine Waters and Barack Obama? Not much, if you ask me.

Kenrod on September 30, 2008 at 6:18 PM

ManlyRash on September 30, 2008 at 6:09 PM

Agreed, I need 2 more years for my youngest to clear her undergraduate degree, after that Rambo’s frustrations will surface, may God have mercy on my soul.

dmann on September 30, 2008 at 6:24 PM

Kurtz tells Steve Doocy and Gretchen Carlson that the financial collapse started with ACORN and other “community organizers” pressuring banks to make bad loans.

All you need to know in one short YouTube video:

The Sopranos – Tony defrauds HUD fund

TheBigOldDog on September 30, 2008 at 6:29 PM

I saw this exchange, and my first thought was this (Fox) will be the only place I see this. Then I see it here, but you won’t see this on ABC, NBC, CBS, they are too busy interviewing hairdressers in Wasilla…

right2bright on September 30, 2008 at 6:30 PM

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html

NTWR gave a great link to a detailed analysis of Obama’s network and strategy, that all HotAir readers should read:

It’s an article by James Simpson in the 9/30/08 edition of American Thinker, entitled “Barack Obama and the Strategy of Manufactured Crisis”.

I don’t know how many people read American Thinker, but this needs to be spread around!!!

Steve Z on September 30, 2008 at 6:13 PM

Thanks for the props but ChakraHammer put it out first last night. I’m absolutely shocked by the information within and the detailed connections. Scary stuff.

NTWR on September 30, 2008 at 6:33 PM

Ooops, messed up the quote.

NTWR on September 30, 2008 at 6:33 PM

Follow up, because I am pissed off today:
The sooner McCain/Palin tell the MSM to shove it again. The sooner they ignore goofy questions from reporters and interviewers, the sooner they become an adversary of the press the quicker they will win…if not it will be as if McCain in back in Nam being tortured every day.
They need to set up some scenarios where they know a lefty will be waiting to pounce…then Palin says something like “That question is so foolish, I should take you moose hunting”, or “you can put lipstick on a stupid question, but it still was still asked by you”
McCain should say, “I won’t answer that from a card carrying Obama supporter”, or “Do you run these questions by Obama’s campaign before you ask these?” and then smile and wait.
The sooner we (middle America) knows that McCain/Palin have no respect for these “journalists” the more votes they will get.
Don’t forget when McCain called that kid a jerk, the press went crazy, and his polling numbers went up.

right2bright on September 30, 2008 at 6:38 PM

NTWR on September 30, 2008 at 6:33 PM

The words American Thinker and liberals do not mix…that’s the problem, preaching to the choir.

right2bright on September 30, 2008 at 6:40 PM

Speaking of Acorn, check this out.

42,000 Absentee Applications Sent To Out-Of-County Voters:

http://www.newsnet5.com/news/17584849/detail.html

Cleveland Rocks

justtim2 on September 30, 2008 at 6:40 PM

Occupying the moral high ground is a slogan that never won a war.

dmann on September 30, 2008 at 6:02 PM

Money quote…

right2bright on September 30, 2008 at 6:41 PM

I wonder what it will take for this kind of information to be spread to the mainstream. The American people need and deserve to know what B. Hussein Obama really is. Ayers/Obama 08

Zelsdorf Ragshaft on September 30, 2008 at 6:49 PM

Can anyone name the names that were responsible for putting the pork for ACORN in the original bailout bill? Or will we just have to be satisfied with “Democrats” as the answer.

Also, oddly enough, the reverse of pork-fed ACORN: Acorn-fed pork is “some of the most celebrated pork in the world”.

electric-rascal on September 30, 2008 at 7:06 PM

I can’t help wondering if the reason the McCain camp doesn’t put the spotlight on this subject is due to some irrational fear that he will lose the African-American vote.
Star20 on September 30, 2008 at 5:50 PM

No, Hispanics, some illegal.

I’m afraid Ed’s being a bit simplistic here. Acorn Housing Affordable Loans, LLC, “a non-profit mortgage broker” is also a “certified lending partner” of Fannie Mae. The connections went a bit deeper than “in your face” strong-arming of banks.

Acorn was also a recipient of grants from the Fannie Mae Foundation, a candy factory of goodies for community activists, who in turn would act as “grass roots” supporters of Fannie/Freddie when they came under (justified) attack — about every two years, it seems.

Nichevo on September 30, 2008 at 7:22 PM

It reveals the tactics of Obama and his allies, in a way that makes the recent story of Obama’s Truth Squad thuggery more understandable. Obama doesn’t represent a post-partisan brand of New Politics, but instead the Saul Alinsky tactics of the New Left radicalism that erupted in the 1960s

If he wins, this is how The Messiah will govern. It’s unconstitutional: draw your own conclusions, and make your own plans.

Janos Hunyadi on September 30, 2008 at 7:24 PM

Obama is not a throwback to the 60s but back to the earlier part of the 20th Century when the black hand extortion racket was being used by Italian immigrants against their own. The only difference berween a community organizer and a Mafioso is, is, uh, er, ummh, uh, er, is . . .

Pelayo on September 30, 2008 at 7:26 PM

All these investigative stories have no value unless McCain literally gets in Obama’s face with them during a debate.

And I mean gets in his face–call him out with a personal attack saying his background affiliations with Wright, ACORN, Ayers, etc are repugnant. His being on the dole with Fannie, Freddie and AIG being reprehensible. That he is not qualified to have a say in any solution as having personally benefited from possible criminal behavior by the firms in question. He has to bring up his being nurtured by the most corrupt political machine in history in Chicago. He has to personally blame Obama for the smear campaign against Palin.

He has to tell him his personal associations and actions that he sanctions disqualify for President. He has to get real close to him and tell him in no uncertain terms that he is a phony who has accomplished nothing in his political career, a career spent solely on personal advancement. He has to point at him when he speaks never looking at the moderator. He has to call out Frank, Dodd and Pelosi. He has to say that while he has voted with Bush 90% you have voted with Pelosi 97%. That the lot of them are earmark pigs with more coming if Obama is elected.

He has to figuratively get inches from his face and read him the riot act. He has to be Patton.

Short of that McCain has no chance of being President.

patrick neid on September 30, 2008 at 7:44 PM

Gotta agree with Jim-Rose. Until one of the MSM outlets (other than Fox) has Stanley Kurtz on we can’t count on this being spread far and wide.

Thus, the need for Team McCain to crank out ads covering every aspect of this mess. The RNC needs to get on board too. The only way to get the message to the peeps is to sandwich it in between the mindless drivel that spews forth from the idiot box.

rockhead on September 30, 2008 at 7:58 PM

I think Obama IS afraid all this is coming out. He said in Nevada today that “this is not the time to point fingers, or point blame. He said something about “If your neighbor’s house is on fire, you don’t blame him for smoking in bed.”

I had the distinct feeling he was putting up his shield!

Star20 on September 30, 2008 at 8:04 PM

Obama’s Pork and now ACORN’s, he gets his wheat though ethanol bribes/kickbacks..

whats the butter?

The Extreme Environmental Lobby that is Known as Hank Paulson that pulled the trigger on the Economic bomb set up Radical Democrats..

http://townhall.com/columnists/RobertDNovak/2007/10/01/hank_paulsons_dna

Paulson is a Radical environmentalist, look at his wiki page..

What happened when the bailout failed?

The Dollar Increased and Oil priced fell right before the debate…… and NO Vote on a second bailout until after the debate.. Hmmmm, If it’s such a crisis why no urgency for them to revote? why aren’t they working overtime? whats going on? Looks like the Democrats are happy with the Oil being low for Bidens debate, then they will pass the bailout then the Oil price will go back up..

You need to be about to play Chess and not Checkers.

Chakra Hammer on September 30, 2008 at 8:06 PM

Did anyone hear on today’s Hannity radio show that a Democrat sent a letter apologizing for not realizing the problems with Freddie/Fannie until it was such a mess? I know this is stupid but I felt ridiculously happy about the simple acknowledgment. I guess if everyone was a easily please as I am they would be apologizing all over the place.

Cindy Munford on September 30, 2008 at 8:18 PM

Did any of you read Mark Hemingway’s piece today at NRO about insisting on some transparency on GSE’s?
http://article.nationalreview.com/?q=YmMyYzQ1YzIwZTliYTY3OGVkMGIzYjc3YjVhZWNlYjA=

It’s a must-read if we are insisting on government accountability re Fannie Mae and Freddie Mac.

onlineanalyst on September 30, 2008 at 8:21 PM

Paulson IMHO, needs to resign ASAP.

Bush needs more people in the White House giving him more information and more choices.

Chakra Hammer on September 30, 2008 at 8:32 PM

goat on September 30, 2008 at 5:19 PM

Do you have any links to how the FBI investigation is going. I have a feeling if Obama gets elected this probe is going to run into some brick walls and also lead to a few district attorney firings. In other words, Whitewater II.

celtnik on September 30, 2008 at 8:43 PM

If he wins, this is how The Messiah will govern. It’s unconstitutional: draw your own conclusions, and make your own plans. – Janos Hunyadi on September 30, 2008 at 7:24 PM

Join the Secession Party. We need a token Hungarian.

ManlyRash on September 30, 2008 at 9:35 PM

The seeds of unrest are germinating – what exciting times we live in. Count me in and pass the pitchfork. If Barney Frank and Chris Dodd remain in power I say march.
Spread the word.
Freedom is alive.

Fuquay Steve on September 30, 2008 at 10:37 PM

Finally, O’Reilly is talking about the CRA and so are John and Ken in LA. ’bout time.

IMO this was the real rush to get the bill passed–the Dems didn’t want people poking into the reasons why.

PattyJ on September 30, 2008 at 11:07 PM

McCain is not going to speak out against these people, he’s just as bad as they are. He was one of the Keating five that really caused a lot of the S and L bailout problem in the eighties. He has been campaigning as hard as bush and the democrats to bring millions and millions of illegals in from mexico and to enable them to get home loans. I don’t know how much dumber than you can possibly get than to give free, no money down loans, to people who’s only identification is a matricula card. I could get twelve of them tomorrow with twelve different names if I wanted.

The disaster here is the success of liberal thinking, that anyone who wants to own a home should be able to. Well, damn, I want to own a lambourghini, where is it? Bush, McCain and all of the liberal jackasses who have been pushing this wealth re-distribution scheme for years should have listened to Elvin Lee Bishop and Ten Years After, “Tax the rich, feed the poor, till there are no, rich no more.”

This was never a surprise to anyone. How can you continue to lend money to people who you have no serious expectation of ever getting it back? The correct answer of course is that you cant, BUT, BUT, BUTTTT, if you have the option of sticking the bill with someone else and you are damned sure that you can get away with it, and make a sizable profit for yourself, well, that kind of changes the picture, doesn’t it?

Bikerken on October 1, 2008 at 2:19 AM

After the market bounced back yesterday, they kept right on scheming to ram this bail-out down our throats. Of all the possible ulterior motives, do you suppose:

An ongoing correction process would lead Main Street investors to withdraw from the institutions that make the shady loans?

Is it possible that bailing out the bad actors (however coerced they are by government) is an attempt to prevent the crippling of socialist mandates?

Feedie on October 1, 2008 at 4:33 AM

“…Congress mandated the sale of MBSs…”

Er, not exactly. Mortgage-Backed Securities are a vital part of the secondary market. Freddie and Fannie buy mortgages from lenders, who then use the cash to make more loans.

Fannie and Freddie in their turn pool a bunch of loans into an MBS which they ‘sell’ to investors, thus replenishing their cash pool. If they didn’t sell MBSs, they’d be sitting on a zillion dollars worth of mortgages… and waiting as long as 30 years to see them paid off.

Selling an MBS brings cash to the secondary market, which then buys more loans from lenders. It’s not a bug, Ed, it’s the feature.

Paul_in_NJ on October 1, 2008 at 2:23 PM