Green Room

Straight From the Horse’s Mouth

posted at 3:09 am on December 15, 2009 by

(Or perhaps the other end.)

Barack H. Obama held a meeting today with top bankers and financial mavins, the CEOs at such corporations as American Express, US Bancorp, JP Morgan Chase, Capital One, Bank of America, Goldman Sachs, Wells Fargo, and others; at this gathering of the world’s financiers, Obama issued a proclamation of what noble sacrifice the very universe demands of them:

The president said it is not his intent to vilify one person or industry — to not dictate to them or micromanage their compensation practices.

“My job is to ensure that consumers and the larger economy are protected from risky speculation and predatory practices, that credit is flowing, that businesses can grow, and jobs are once again being created at the pace we need.”

In working together towards a lasting recovery, Mr. Obama said, “we rise and fall together: banks and small businesses, consumers and large corporations. And we have a shared interest in working together to ensure a lasting recovery that will benefit all of us and not just some of us.”

Very well then; we take the president at his word: We must never again make risky, speculative loans to poor people who cannot pay them back.

  • Such loans, generally at usurous rates, clearly qualify as “predatory practices.”
  • They bring the free-flow of actual credit to a screeching halt by diluting it with ersatz “credit” that is in fact welfare.
  • They stifle the growth of businesses by sucking all the credit oxygen out of the room and blowing it at unqualified borrowers instead of credit-worthy companies, small and large.
  • And they damage the economy so that jobs are lost, not created — and not “saved” — at a stunning rate… as we have seen since the inauguration of one Barack Obama.

Taking the man at his word, I can only conclude that President Obama now calls upon Congress to repeal the Community Reinvestment Act of 1977, along with every act, amendment, or regulatory “reform” since then that has driven banks and other financial institutions to pound sand down a rathole, lending too much money to people with too little credit, too much debt, and too little ability to meet a mortgage payment.

Thank goodness Obama has finally come to his senses!

Either that, or… well, there’s always the faint possibility that he doesn’t really mean what he says. But surely no President of the United States could be so despicable as to gallop into the history books, at least those written by liberals, across the shattered dreams of the undeserving poor, lured into believing they can purchase spectacular homes despite having insufficient income.

After all, they are all honorable men, these well-meaning do-gooders; all, all honorable men.

Cross-posted on Big Lizards

Recently in the Green Room:

Blowback

Trackbacks/Pings

Trackback URL

Comments

Or they are lying….

BlameAmericaLast on December 15, 2009 at 4:02 AM

I don’t think what’s spewing forth is coming from his mouth…..

Robert17 on December 15, 2009 at 8:05 AM

Every word out of his mouth is a lie. He also needs to take a lesson on the duties of the president.

Kissmygrits on December 15, 2009 at 9:05 AM


HotAir — Politics, Culture, Media, 2017, Breaking News from a conservative viewpoint

Fixing crime in America is a complicated issue

Taylor Millard Jun 23, 2017 8:31 PM
Top Pick

Cops alone won’t solve it.

Top Pick

Victim’s father was President Maduro’s supervisor back when he was a bus driver.

Democrats forgot all about the “era of good feelings”

“Bernie and Jane Sanders have lawyered up.”

“the Judiciary Committee is examining the circumstances surrounding the removal of James Comey.”

Winning isn’t everything. It is the only thing

Trump signs VA reform bill into law

John Sexton Jun 23, 2017 2:41 PM

“What happened was a national disgrace, and yet some of the employees involved in these scandals remained on the payrolls.”

A new era of something.

“…died suddenly in less than a week just after his return to the U.S.”

The shortsightedness of “Denounce and Preserve”

Taylor Millard Jun 23, 2017 12:11 PM

Pragmatism for the sake of pragmatism doesn’t always work.

Perhaps if you threw in a new car?

Gay marriages still growing, but not as fast

Andrew Malcolm Jun 23, 2017 10:31 AM

More, but not as quickly.

Should’ve stuck with the pirate gig. It was working for him

The battle for the rubble of Raqqa is underway

Andrew Malcolm Jun 23, 2017 8:51 AM

Won’t be much left.

Your list of demands is a publicity stunt

“what happened that day was emblematic of a deeply troubling trend among progressives…”

“The jobs are still leaving. Nothing has stopped.”

Bad vendor. Bad! No cookie!

“The Corps is just starting to grapple with the issues the court has identified.”

“So you want me to sing my praises, is that what you’re saying?”

Why would we possibly want that?

“I mean he sold our country to The Russians.”

I could think of someone else you might want to ask about…

“You can ask a hundred people what hate speech is and you get a thousand different answers”

Trump: I never made any recordings of Comey

Allahpundit Jun 22, 2017 2:01 PM

Bluff.

Hackers stole private data from election databases

John Sexton Jun 22, 2017 1:21 PM

“90,000 records stolen by Russian state actors contained drivers license numbers”

Failure to protect the city

Big man on the Middle Eastern campus

Biased Americans see media as biased.

Tough times down on the liberal ranch

Will Nancy Pelosi survive this latest Dem disaster?

Andrew Malcolm Jun 22, 2017 8:41 AM

Eat quick, before it’s gone.

Slow your roll, boss

“I’m bothered by the lack of emerging evidence…”

FIrst look at the Senate health bill

John Sexton Jun 21, 2017 9:21 PM

“the Senate bill would go farther than the House version in its approach to cutting Medicaid spending.”

Divide and conquer?