Video: Subprime loans “affirmative action” – Andrew Cuomo

posted at 8:10 am on October 10, 2008 by Ed Morrissey

Another lengthy video attempts to highlight the beginnings of the subprime loan disaster, and it’s well worth watching.  Andrew Cuomo, then Bill Clinton’s HUD Secretary, held a press conference on April 6, 1998, explaining a settlement reached with a major bank on a lending discrimination case based presumably on the CRA.  Cuomo brags about how “this administration will enforce the law”, but he also makes a very telling admission about the $2.1 billion in subprime loans that the bank would offer as a result of the settlement:

They would not have qualifed but for the affirmative action on the part of the bank, yes.

He then admits that there would be “higher risk”, and a higher default rate, on the loans the Clinton administration forced this bank to make. He also admits that the action forced this bank to lower its standards on loan qualification as a remedy to supposed discriminatory action in the past by relying on income and equity requirements. Cuomo describes everything wrong with subprime lending and reveals the government’s efforts to distort private lending markets to force “fairness” in outcomes.

The financial world did not collapse because of 15,000 loans from this one settlement, but this case did not exist in isolation.  Cuomo held this press conference as a warning to all lenders that the Clinton administration intended to enforce the CRA broadly with all lenders, and in fact he explicitly stated this.  When that didn’t free up credit as quickly as Clinton desired, he and Congress mandated Fannie Mae and Freddie Mac to purchase more subprime paper — which Cuomo baldly admitted was riskier and would have a higher rate of failures — and to turn them into mortgage-backed securities, which they marketed as low-risk investments based on implicit government backing.

This did what the heavy-handed enforcement of the CRA could not: it made lenders enthusiastic about subprime lending.  Why?  They could make short-term profit on every mortgage regardless of the borrower’s ability to repay, because Fannie and Freddie would buy them anyway.  With the risk removed from lending, subprime loans became quick-buck rackets for all lenders, predatory or not.

The second half of the video relates what we already know about Barack Obama.  He sued Citibank to force more subprime lending, and his ACORN partners did the same elsewhere, initiating actions like the one Cuomo heralds here as a great breakthrough in affirmative-action lending.  Obama bears responsibility at the edges for the beginning of this disaster, and more for his inaction while in the Senate as Alan Greenspan warned them of the coming collapse.  Most of this falls on the Clinton administration and Congress in 1998-2000, who set this brush fire alight and then kept the firefighters at OFHEO at bay by calling them racists.


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Hmm. And all this time I thought the financial mess we are going thru was Bushes fault.

digitalintrigue on October 10, 2008 at 8:13 AM

Everyone’s favorite scumbag old fart ex-President-turned-traitor Jimmy Carter chimed in this morning, saying that the financial mess is solely Bush’s fault. Which of course is a lot of hogwash, but since this came from between the teeth of Carter, it should be taken with the usual grain of salt.

pilamaye on October 10, 2008 at 8:16 AM

He then admits that there would be “higher risk”, and a higher default rate, on the loans the Clinton administration forced this bank to make. He also admits that the action forced this bank to lower its standards on loan qualification as a remedy to supposed discriminatory action in the past by relying on income and equity requirements. Cuomo describes everything wrong with subprime lending and reveals the government’s efforts to distort private lending markets to force “fairness” in outcomes.

And according to Andrew, “not that there’s anything wrong with any of that.”

NoFanofLibs on October 10, 2008 at 8:18 AM

Now the foxes are watching the hen house.

Wait till the veto proof majority.

We are on a clear path to European mediocrity; but hasn’t that been the plan all along?

mylegsareswollen on October 10, 2008 at 8:18 AM

It’s about time the general public is made aware of the origins of this unholy house of cards. Of course if this were to make the major media, it would doubtless be accompanied by several talking heads primed with their syrupy talking points. It’s a hell of an obstacle.

hillbillyjim on October 10, 2008 at 8:19 AM

List of people to testify (before the people come for them with pitchforks)>

Barney Frank
Chris Dodd
Andrew Cuomo
Bill Clinton
Barack Obama
Maxine Waters
Greg Meeks

Who am I missing?

Star20 on October 10, 2008 at 8:20 AM

Like I’ve said,when the financial sh#t hit the
fan,a week or so ago,this was done by design!!

Its SOCIAL ENGINEERING,by the LIBERALS!!!

This is bullsh#t,if you don’t have a job,
your credit is zero,nothing down,or you
don’t have any property as collateral

then,CANADA as well is practising discrimination,
and the Canadian banks must also be racists!!

canopfor on October 10, 2008 at 8:21 AM

I fear that the election is about to slip away…Where is the McCain of the convention? That populist reformer that would name names? The one that would tackle corruption so that governement would work for the people again?

For 72 year old guy that has cheated death so many times, and has no future politically after this election, why is he so hesitant to jump in with both barrels blazing?

If he doesn’t tap into voter anger and become the champion of the angry middle class, pointing fingers at the Franks, Dodds, Raines and Cuomos of the world, speaking about how Pelosi, Obama and Reid will run this country unchecked, how the hell are we supposed to get behind him?

I am disgusted. We get the government we deserve.

joepub on October 10, 2008 at 8:21 AM

This should be bigger news too. Obama actually sued Citicorp to pressure them to issue subprime loans.

Please, this should be worked in to Palin stump speech and Mccain should hit Obama with this. It’s too good to be true. Please.

promachus on October 10, 2008 at 8:22 AM

I’m an admirer of John McCain though he is too liberal for me, and I am an unreserved fan of the magnificent Sarah.

However, if between the two of them and their staff they cannot figure out how to get some of these simple truths into the mainstream, then we will lose and they will have failed. I can’t believe they are squandering this and many other opportunities to pound these truths home into voters.

Come on–you’re fighting with “gloves off” and they are beating the crap out of you with billy clubs. Time for whatever gun it is you hunt moose with.

I’m Sun Tzu and I approved this message.

horatio on October 10, 2008 at 8:22 AM

O.T. Overnight CBS had reportage of the Ayers questions, and voila–they did the very thing we all knew they would–they pointed to the New York Times coverage and concluded that their “investigation” revealed nothing more than a passing acquaintance, or words to that effect, basically blowing the whole thing off as no big deal.

Like I said above, it’s a hell of an obstacle.

hillbillyjim on October 10, 2008 at 8:24 AM

I wish,’wink wink’,that somehow,a hem, a rumour
got started up,a hem,that there was going to
be a raid,and seizure of the Liberal party
offices on the Hill,over the weekend,a hem!haha.

canopfor on October 10, 2008 at 8:25 AM

No. Haven’t you been listening like the rest of the nation? It’s the failed policies of the Bush administration.

– If there is one thing the democrats do very well, it’s lie, lie, lie until it becomes “truth.”

We are living “1984″.

Rod on October 10, 2008 at 8:26 AM

Unfortunately this is the same “respected” Andrew Cuomo that McCain suggested putting in charge of the SEC.

Wethal on October 10, 2008 at 8:27 AM

Has Obama been RIGHT about ANYTHING?

originalpechanga on October 10, 2008 at 8:29 AM

Can you believe McCain actually said he wanted to make this guy the head of the SEC after he fires Cox? Can you F’in believe it? McCain can be such a horse’s ass sometimes.

TheBigOldDog on October 10, 2008 at 8:30 AM

Oh, I almost forgot. Where are my manners?

Thanks, Bubba.

hillbillyjim on October 10, 2008 at 8:30 AM

This needs to be posted on every Facebook and Myspace bulletin board. Even the youth of this country can be educated. After all, most of them are just starting out and instinctively understand that there is no free lunch.

csdeven on October 10, 2008 at 8:30 AM

What would (SDI)Ronald Reagan do?

canopfor on October 10, 2008 at 8:31 AM

Most of this falls on the Clinton administration and Congress in 1998-2000, who set this brush fire alight and then kept the firefighters at OFHEO at bay by calling them racists.

It is not fair to dump this mess on Clinton’s feet. It was a good policy that fueled a lot of growth for a long time. The fault belongs to those in the last few years as the warnings were being issued and ignored. Specifically, I blame the Republicans who sided with the Democrats to block the Bush administration’s efforts to reform Fannie and Freddie. Those are the names I want named. Who were the Republican traitors that caused this mess?

tommylotto on October 10, 2008 at 8:31 AM

We don’t care. It’s always been our dream to live a romantic life in a third world shithole.

sincerely,

liberals

Metro on October 10, 2008 at 8:31 AM

From noted economist Greg Mankiw…

it was a result of poor judgment among various private decisionmakers, encouraged by equally poor judgment of various public policymakers, many of whom were more interested in promoting homeownership among questionable borrowers than in the preserving the safety and soundness of the financial system.

benrand on October 10, 2008 at 8:35 AM

BRUSSELS (Reuters) – Former President Jimmy Carter said on Friday the “atrocious economic policies” of the Bush administration had caused the worst global financial crisis since the Great Depression of the 1930s.

Mr. Peanut Sets Us Straight

Rod on October 10, 2008 at 8:35 AM

Unfortunately this is the same “respected” Andrew Cuomo that McCain suggested putting in charge of the SEC.

Wethal on October 10, 2008 at 8:27 AM

Which tells me McCain really doesn’t understand how this got started. That suggestion revealed his ignorance on the whole picture.

a capella on October 10, 2008 at 8:37 AM

Oh, I almost forgot. Where are my manners?

Thanks, Bubba.

hillbillyjim on October 10, 2008 at 8:30 AM

They don’t call him the first black president for nothing.

AZCoyote on October 10, 2008 at 8:38 AM

We don’t care. It’s always been our dream to live a romantic life in a third world shithole.

sincerely,

liberals

Metro on October 10, 2008 at 8:31 AM

Good point. I was thinking of retiring to an expatiate enclave in Mexico but now I can just stay here!

Rod on October 10, 2008 at 8:38 AM

Wake up McCain!

- Come on. Get in there. Engage.
- You’ve got a bogey at two o’clock.

Take the shot, Maverick.

You can engage any time, Maverick.

- Where the hell are you going?
- It doesn’t look good.

What do you mean? It doesn’t get
to look any better than that.

Hey, man. We could have had him…

I’ll fire when I’m goddamn
good and ready. You got that?

- He won’t engage.
- It’s only been a few days.

- He just might not make it back.
- Keep sending him up.

TheBigOldDog on October 10, 2008 at 8:38 AM

O/T, but worth checking out: Farrakhan calls Obama ‘The Messiah.’

ManlyRash on October 10, 2008 at 8:38 AM

We are on a clear path to European mediocrity; but hasn’t that been the plan all along?

mylegsareswollen on October 10, 2008 at 8:18 AM

Yes it has but won’t they be surprised when they find out BO has plans along the lines of Venezuela but by that time it will be too late.

jmarcure on October 10, 2008 at 8:40 AM

Ordinarily private groups would be running ads with cuts like these in them. McCain however so alienated his allies by attacking them in public for helping him, they all must have said, “screw him.”

TheBigOldDog on October 10, 2008 at 8:42 AM

Hmm. And all this time I thought the financial mess we are going thru was Bushes fault.

digitalintrigue on October 10, 2008 at 8:13 AM

The stupid (he’s so dumb he has to wear a reminder to breathe) Chimpy McBush lent the keys to the Tardis-Wayback Machine to the evil Karl Rove who blackmailed the Clinton Administration (Karl had photographic evidence that Bill had slept with Hillary) into ramping up the CRA, ensuring that there would be a financial meltdown just in time for the 2008 elections which would result in the election of the Republican candidate, Barack Obama, er, wait a second that didn’t end right. I blame the nurse who keeps insisting I take my medication.

/signed,
Leftwing Nut Root.

rbj on October 10, 2008 at 8:42 AM

This is all getting painted as happening during the Bush tenure, and the zombies are all out repeating that falsehood.

Hening on October 10, 2008 at 8:43 AM

It is not fair to dump this mess on Clinton’s feet.

tommylotto on October 10, 2008 at 8:31 AM

It is fair to lay it at the dems feet. From Carter to Oslime-a, to include Frank, Dodd, et al.

And you don’t really expect McCain to shoot himself in the foot by indicting his own party by name do you? He has said that EVERYONE, regardless of party, will answer for this. That’s good enough for now. As a matter of fact, Cox was singled out for firing.

csdeven on October 10, 2008 at 8:43 AM

Yes it has but won’t they be surprised when they find out BO has plans along the lines of Venezuela but by that time it will be too late. – jmarcure on October 10, 2008 at 8:40 AM

Nah. It’s never too late for true Americans. If the Messiah decides to flush the Constitution, we’ll simply grab our copy of it and make it the law of the land in a new republic – carved out of the remains of the old one.

ManlyRash on October 10, 2008 at 8:44 AM

Who am I missing?

Star20 on October 10, 2008 at 8:20 AM

You are not missing “who” you are missing “what” and the what is that you have a nice list of the people that will be idolized as truly great Americans. They will be remember as those few brave soles that stood up to the evil Bush empire and won. It’s a true David and Goliath tale happening right before our eyes.

jmarcure on October 10, 2008 at 8:44 AM

This is another related, lengthy video on the Democrats responsibility for this mess. Another JDAMM bomb falling on DNC headquarters.

Another viral must watch.

Schweggie on October 10, 2008 at 8:44 AM

Wow that was a great vid. That Huck is a natch.

TheSitRep on October 10, 2008 at 8:46 AM

joepub at 8:21 AM–Where is the McCain of the convention? That populist reformer that would name names? The one that would tackle corruption so that governement would work for the people again?

Wake up and check McCain’s campaign on this again. He’s on a roll like a ball of fire with Palin.

I will name names and prosecute them.
You know their names; you know who they are.

And he begins the list with Dodd and Frank…

Love it!

maverick muse on October 10, 2008 at 8:46 AM

McCain has been so busy bashing Bush and praising Cuomo that he has cut off his own balls.

Buy Danish on October 10, 2008 at 8:46 AM

Wake up McCain!

- Come on. Get in there. Engage.
- You’ve got a bogey at two o’clock.

Take the shot, Maverick.

You can engage any time, Maverick.

- Where the hell are you going?
- It doesn’t look good.

What do you mean? It doesn’t get
to look any better than that.

Hey, man. We could have had him…

I’ll fire when I’m goddamn
good and ready. You got that?

- He won’t engage.
- It’s only been a few days.

- He just might not make it back.
- Keep sending him up.

TheBigOldDog on October 10, 2008 at 8:38 AM

Wow, that’s amazingly on target.

SlimyBill on October 10, 2008 at 8:47 AM

These people have to be held accountable. Their actions have financially crippled millions of Americans and not to address their actions resulting in this disaster would be criminal by not acting.

volsense on October 10, 2008 at 8:48 AM

http://www.youtube.com/watch?v=Csthf_CQsjo

Conservative_SAHM on October 10, 2008 at 8:48 AM

Unfortunately this is the same “respected” Andrew Cuomo that McCain suggested putting in charge of the SEC.

Wethal on October 10, 2008 at 8:27 AM

Anybody home?

JiangxiDad on October 10, 2008 at 8:48 AM

Like I’ve said,when the financial sh#t hit the
fan,a week or so ago,this was done by design!!

canopfor on October 10, 2008 at 8:21 AM

Ha! People tell me to but my tinfoil hat back on when I talk like that. I even think the signal to start the collapse was given during a BO speech.

jmarcure on October 10, 2008 at 8:48 AM

Who am I missing?

Star20 on October 10, 2008 at 8:20 AM

Schumer.

Oink on October 10, 2008 at 8:49 AM

We are living “1984″.

Rod on October 10, 2008 at 8:26 AM

Not yet but we will be after the country gets BO.

jmarcure on October 10, 2008 at 8:51 AM

Has Obama been RIGHT about ANYTHING?

originalpechanga on October 10, 2008 at 8:29 AM

That is that he will be elected president and that it will most likely be by a landslide.

jmarcure on October 10, 2008 at 8:52 AM

I would like to line them all up and put them out of our misery!

Mercy4Me on October 10, 2008 at 8:53 AM

Who am I missing?

Johnson & Raines.

jgapinoy on October 10, 2008 at 8:58 AM

This coming from the cuckold of all cuckolds…If I were little Andrew I would be ashamed to show my face in public.

DoctorDentons on October 10, 2008 at 8:59 AM

List of people to testify (before the people come for them with pitchforks)>

Barney Frank
Chris Dodd
Andrew Cuomo
Bill Clinton
Barack Obama
Maxine Waters
Greg Meeks

Who am I missing?==Raines, Johnson, etc.

The rest of the reparations crowd. See how well reparations is working?

wepeople on October 10, 2008 at 8:59 AM

I would like to line them all up and put them out of our misery!

Careful the fed will come to investigate you/s

wepeople on October 10, 2008 at 9:00 AM

Not affirmative action but BACKDOOR REPARATIONS.

meci on October 10, 2008 at 9:01 AM

We don’t care. It’s always been our dream to live a romantic life in a third world shithole.

sincerely,

liberals

Metro on October 10, 2008 at 8:31 AM

Fixed

deptofredundancydept on October 10, 2008 at 9:03 AM

I would like to line them all up and put them out of our misery!
Careful the fed will come to investigate you/s

wepeople on October 10, 2008 at 9:00 AM

I don’t give a SH!T, I am sick of this. This has ruined my country, and we are about to put a marxist who will do more damage. I am buying GUNS!

Mercy4Me on October 10, 2008 at 9:03 AM

csdeven on October 10, 2008 at 8:43 AM

Starlink on October 10, 2008 at 8:46 AM

I said Clinton, not the Dems. Anyone who got a loan during the Clinton years, but is defaulting now, had been able to afford it and pay it for the past 8 years — not bad. The problem was during the Bush years while all these folks refinanced and pulled out equity to buy cars and Plasma TV’s. There were eight long years to put on the breaks. We have to figure out why the breaks were not applied. The Dems certainly are to blame, but the Republicans controlled the house for most of that time and when Bush sought reform. It may not help in the current election, but that is where the blame belongs from an historic context.

tommylotto on October 10, 2008 at 9:05 AM

tommylotto on October 10, 2008 at 9:05 AM

Clinton signed the legislation that forced banks to engage in these loans.

And the people who might have been affording these homes when the rates were low, we unable when the rates went up. To compound it, as the rates went up and foreclosures increased, the market was flooded with too many homes, the bubble burst and home values plummeted. Now these folks couldn’t refi and couldn’t afford their payments, and viola’, we are where we are at today. It took carter, Clinton, socialist dems, and ball less reps to set this up and everyone of them, especially Clinton, deserves to bear the weight of the blame.

csdeven on October 10, 2008 at 9:12 AM

As I have consistently said before, it was originally a good idea“……Barack Obama on CRA’s pushed by ACORN.

Does this mean that in retrospect this has turned out to be a bad idea Mr. Obama? Can we know infer that this social policy was a flaw in judgement by you and your cohorts that have contributed to this calamity?

Is this the kind of “change” we are to expect in your “new party” administration?

Rovin on October 10, 2008 at 9:13 AM

Mitt Romney was right. Democracy and free market capitalism only work when they’re animated by people of character. Our Judeo-Christian heritage was to be the seedbed of such individuals.

But over time, almost impreceptibly, our criteria for leadership have grown constricted, so that today we value the (mostly) genetic traits of intelligence, and an ability to connect with people at a purely emotional level; we give power to those who seem smart, rational, and cool.

Attractive folks, to be sure. But character is treated like an ancient relic, a party crasher, persona non grata.

This, in my opinion, is how we ended up with both a private economy and a government run by fraudulent and deceitful people from top to bottom.

And I don’t think we’ve hit bottom yet, either morally, or economically. (One influences the other).

Again, I say, Mitt Romney was right. Without a sound moral foundation, the American experiment fails.

jeff_from_mpls on October 10, 2008 at 9:13 AM

These videos, especially this one, are so powerful in so many ways. They use the words of those responsible and they often provide resource for you to go and see for yourself. It amazes me that some of the videos have so few hits/”views” on YouTube.

It make me wonder if this information will make to the broad voting public in time.

OSUBuciz1 on October 10, 2008 at 9:14 AM

Make no mistake about it. The downfall of the Republic WILL be caused from within. America can and will defeat any attack from outside our borders, be it from a foreign country or rogue terrorist organization. We do not lack the will to take such a fight to our sworn enemies abroad.

Sadly, I cannot say the same thing about our resolve to defeat the cancerous spread of political correctness run amok within our borders.

Bruce in NH on October 10, 2008 at 9:17 AM

Who am I missing?

Star20 on October 10, 2008 at 8:20 AM

Oink already pointed out Shumer, and that’s really important. He’s in this up to his eyebrows.

RushBaby on October 10, 2008 at 9:18 AM

maverick muse on October 10, 2008 at 8:46 AM

Dude, I am awake…if that’s a ball of fire then we can kiss this goodbye.

He needs to get Effing pissed!

joepub on October 10, 2008 at 9:30 AM

jeff_from_mpls on October 10, 2008 at 9:13 AM

+1

a capella on October 10, 2008 at 9:42 AM

There has to be an ad in there someplace.

Too bad Republicans did not make this a big issue back in 1998 to 2000 instead of Monica. Too bad the Democrats were allowed to get away with this.

Terrye on October 10, 2008 at 9:46 AM

There are more forces at work than just subprime

1. subprime
2. trade deficit
3. budget deficit
4. consumer debt
5. irresponsible monetary policy by the Fed (read: printing money)

lodge on October 10, 2008 at 9:48 AM

Wow. Just wow. I am stunned that the Dems are succeeding in hanging what is the natural result of their social engineering on “the failed Bush economic policies”. 1984 indeed.
As I survey the shambles of the US economy and the astronomical debt we will all be forced to shoulder I cannot help but think:

“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.”
Sir Winston Churchill

muggedbyreality on October 10, 2008 at 9:49 AM

I think this video is powerful, but not necessarily new info. There was a reason savvy people groaned when McCain mentioned AC as a potential replacement – THIS. However, in the interest of accuracy, didn’t AC have a “come to Jesus” moment a few years ago? Putting a lib in charge of oversight on the SEC would actually HAVE provided the impetus to control the ridiculous repackagings of these securities which make them so difficult to unpack. (Most) everything else said here I concur with. I know of only one (R) who was supposedly complicit, some no-name from Utah.

rhodeymark on October 10, 2008 at 9:50 AM

If the election had been between Hillary and McCain, I would have just sat it out as they are both liberals with a hairsbreadth of difference between them.
.
I would only vote for McCain to prevent the disaster of Obama. However, as time goes on, I am less and less inclined to do so. We seem to be doomed to a liberal fate and I don’t want to help one of them make it into office.
.
This has come about due to the watering down of the Conservative ideal. When we had the option to choose Hunter or Tancredo, we blew it.

FactsofLife on October 10, 2008 at 9:54 AM

At 2:00 today, the credit default swaps that Lehman was involved in are triggered… the impact is anticipated to be $2 trillion (but is really anybody’s guess). The question of the day is: Who is holding the other side of these… 2:00 is show and tell time…

CC

CapedConservative on October 10, 2008 at 10:06 AM

People if you or i did what Franks or Dodd and others in cong. have done we would be in jail.Instead the drive bys are telling us they have no blame in this.McCain and all the Rep. should say this ever min.of the day and name names!

thmcbb on October 10, 2008 at 10:21 AM

FactsofLife – obviously you know little of Governor Palin’s bio. She has repeatedly taken the offer of help from those she didn’t agree with on line issues, and used her position to champion a better way. Hunter & Tancredo? At least Fred had a chance. Rudy appointing strict Constructionist judges, while not personally using the stump for social issues would have been acceptable to me.

rhodeymark on October 10, 2008 at 10:24 AM

Short advertisement – requiring a response from Obamites.

Would you let a Fox in the hen house? That’s what you will do if you elect Obama.

davod on October 10, 2008 at 10:27 AM

My God…John McCain and the Rebulicans needs to have video after video showing this asses talking. Maybe they can go out and buy their own 30 min slot right before the election…

Dritanian on October 10, 2008 at 10:59 AM

Obama bears responsibility at the edges for the beginning of this disaster, and more for his inaction while in the Senate as Alan Greenspan warned them of the coming collapse.

At the edges? Don’t damn him with faint praise. He was right in the middle of it.

It’s particularly infuriating to me that his theory of discrimination was based on “disparate impact.” That’s where there’s no need for “actual discrimination” or “intent to discriminate,” as long as there’s a disparate impact on the minority in question.

Priceless. Well, no, actually $2 trillion and counting…

misterpeasea on October 10, 2008 at 11:18 AM

Now at least we know what community organizers do: push sub-prime risky loans on banks and gather up fraudulent voter registrations, thereby undermining the economic system AND political process at the same time. Obama admitted that community organizer (ACORN, along with running a large campaign) was the basis for his experience to run for president. And now this mess is falling down all around us and he hopes to stagger over the finish line before it torpedoes his campaign (and the country).

jerseyman on October 10, 2008 at 11:22 AM

Obama has spent the last 15 years undermining the economic and political process in the US. If he wins in November, he will continue the destruction. As Obama really dislikes open elections, will we have an election in 2012 if he wins in 2008? Or will we have Castro, Chavez, Mugabe type elections where he receives 98% of the vote?

jerseyman on October 10, 2008 at 11:26 AM

just wait till BO’s good idea of health care is put into force-It’ll be sh_tty health care forced on everyone.

la.rt.wngr on October 10, 2008 at 12:11 PM

I think I need to invest in some more ammo. It’s the only thing thing that’s going to be worth anything if Obama gets voted in.
If McCain doesn’t get freakin’ serious about this ACORN/sub-prime loan + voter fraud stuff & Obama’s connection to all of it, we’re screwed in ’08 bcs there are enough of the masses out there that are falling for this narcissist.
I’m sure lots of folks for Obama agree with what Far-hack-kahn has said about him being the Messiah!
Aghhh wake up America!

Badger40 on October 10, 2008 at 12:24 PM

Everyone’s favorite scumbag old fart ex-President-turned-traitor Jimmy Carter chimed in this morning, saying that the financial mess is solely Bush’s fault. Which of course is a lot of hogwash, but since this came from between the teeth of Carter, it should be taken with the usual grain of salt.

pilamaye on October 10, 2008 at 8:16 AM

Don’t forget his shrew of a wife, Rosalyn.

Worst first couple evah.

(Until/unless we get stuck with the O!s, of course.)

Y-not on October 10, 2008 at 12:49 PM

Who am I missing?

Star20 on October 10, 2008 at 8:20 AM

Jamie Gorelick

Seven Percent Solution on October 10, 2008 at 1:10 PM

This dirtbag has planted the seeds for the next real estate/mortgage crisis with the hvcc bill that they were going to make federal law in the dead of night. cuomo went into an investigation of appraisal management companies pressuring appraisers to inflate values and after the appraisal management companies paid him millions of dollars he came up with a law that requires all lenders to use appraisal management companies. My first question is why the hell the attorney general of ny is making federal law and second why are the people who caused this in the first place (cuomo, dodd, schumer) in jail yet instead of making new laws?

peacenprosperity on October 10, 2008 at 6:14 PM

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