Thomas Sowell discusses how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust.
This is an older topic that was freshly visited by the Sage of South Central (Larry Elder) because of a caller calling him disingenuous. I edit his segment on it — directly below — and add links to many resources for further study. Enjoy, and please, pass along to Democrat friends and family that have a skewed view of this ~ blaming corporations, banks, or Wall Street.
The line-up of video used in the above Larry Elder audio is as follows:
Here is some of the resources I have previously posted on my site — bringing them to one place for the furtherance of putting liberals in their place.
AEI Scholar Peter J. Wallison Talks Housing Crisis ~ Larry Elder interviews Peter J. Wallison, a lawyer and the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute. He specializes in financial markets deregulation.
This is a good montage proving what is being attributed to the Democrats:
I hope this helps people settle old conversations.
Thomas Sowell asks three questions of the left with a claim that it is rare that the answers are readily available. This video frames the housing market crash from 2008 and challenges those on both the Right and Left. When a social policy is adopted and becomes a top priority – asking honest questions is the only way of ensuring you remain objective. The radical left today appears to run into difficulty when those same questions are asked. I certainly don’t agree with all of Sowell’s positions on every topic, but the questions are worthy of being asked.
How the democrats caused the financial crisis: starring Bill Clinton’s HUD secretary Andrew Cuomo. From Carter through Obama… banks didn’t want to be seen as racist, and ACORN w/ Obama pushing for more “affirmative action loans,” caused the Housing crisis.
Old news, Democrats will scoff. But if you’re like me and lost the equivalent of years of work in the 2008 meltdown, you might still be interested in who was responsible. The truth is coming to light:
In a just-released book, former FCIC [Financial Crisis Inquiry Commission] member Peter Wallison says that a Democratic Congress worked with the commission’s Democratic chairman to whitewash the government’s central role in the mortgage debacle. The conspiracy helped protect some of the Democrats’ biggest stars from scrutiny and accountability while helping justify the biggest government takeover of the financial sector since the New Deal.
Wallison’s sobering, trenchantly written “Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again” reveals that the Democrat-led panel buried key data proving that the U.S. Department of Housing and Urban Development and other federal agencies pushed the housing market over the subprime cliff. The final FCIC report put the blame squarely on Wall Street.
In 2009, then-House Speaker Nancy Pelosi appointed her California pal Phil Angelides, a long-time Democrat operative, to lead the commission. The fix seemed to be in, and Wallison’s account of the inner workings of the 10-member body confirms it.
See IBD for details on how the phony $10 million probe came up with the predetermined verdict that free enterprise caused the collapse, which in reality was the result of the federal government inflicting Affirmative Action on the mortgage industry.
Happened almost 8 years into George W”s watch after controlling both Houses from 95-07. Hogwash and you know it!
My Response (edited):
…He (Bush and the Republicans) tried multiple times to change the now apparent issue…. 17-times to be exact:
2007 August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying “first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options.” (President George W. Bush, Press Conference, the White House, 8/9/07)
August: Senate Committee on Banking, Housing and Urban Affairs Chairman Christopher Dodd ignores the President’s warnings and calls on him to “immediately reconsider his ill-advised” position. (Eric Dash, “Fannie Mae’s Offer To Help Ease Credit Squeeze Is Rejected, As Critics Complain Of Opportunism,” The New York Times, 8/11/07)
September: Democrats in Congress forget their previous objections to GSE reforms, as Senator Dodd questions “why weren’t we doing more, why did we wait almost a year before there were any significant steps taken to try to deal with this problem? … I have a lot of questions about where was the administration over the last eight years.” (Dawn Kopecki, “Fannie Mae, Freddie ‘House Of Cards’ Prompts Takeover,” Bloomberg, 9/9/08)
Conservative-Republican ideals ~ [if] allowed to be implemented into law would have stopped this. And as Clinton clearly stated:
And as other video from committee meetings show, the first being Republicans bringing to light the issue:
As well as Democrats BLOCKING legislation that Republicans were trying to impose to stop the failure:
While the entire segment[s] regarding this topic of President Trump calling Don Lemon “stupid” was excellent… Prager’s response to this caller was an excellent way to respond to such attacks. NOT TO mention it backfired on Don Lemon and those who make similar arguments, in one sense, PROVING the Presidents point. Not to mention Lemon reacted to the media bait the “Don” likes to throw in the water like chum for the ravenous sharks.
Over the weekend, liberal New York Times columnist Charles Blow said there was “definitely” a “racial underpinning” to Trump’s latest insults.
The Washington Post’s Max Boot tweeted Friday, “I’m sure it’s just a coincidence that Trump thinks African-Americans are dumb.”
Former CBS newsman Dan Rather called Trump’s remark, which he made on Twitter, a “disgrace” and “racist.”
Trump is, however, well known for taking aim at just about anyone who criticizes him in public, and there’s no evidence he considers race or gender before he fires back. Here are seven examples of when Trump insulted the intelligence of white, conservative men:
….James Comey…. Rick Perry…. Mitt Romney…. Jeb Bush…. George Will…. Glenn Beck….
Professor John Eastman notes that Maxine Waters may in fact be violating the Ku Klux Klan Act of 1871. Here is a posrtion of the HISTORY CHANNEL article on this:
…After 1870, Republican state governments in the South turned to Congress for help, resulting in the passage of three Enforcement Acts, the strongest of which was the Ku Klux Klan Act of 1871.
For the first time, the Ku Klux Klan Act designated certain crimes committed by individuals as federal offenses, including conspiracies to deprive citizens of the right to hold office, serve on juries and enjoy the equal protection of the law. The act authorized the president to suspend the writ of habeas corpus and arrest accused individuals without charge, and to send federal forces to suppress Klan violence. This expansion of federal authority–which Ulysses S. Grant promptly used in 1871 to crush Klan activity in South Carolina and other areas of the South–outraged Democrats and even alarmed many Republicans. From the early 1870s onward, white supremacy gradually reasserted its hold on the South as support for Reconstruction waned; by the end of 1876, the entire South was under Democratic control once again….
…But the Obama team had a solution in place: a Facebook application that will transform the way campaigns are conducted in the future. For supporters, the app appeared to be just another way to digitally connect to the campaign. But to the Windy City number crunchers, it was a game changer. “I think this will wind up being the most groundbreaking piece of technology developed for this campaign,” says Teddy Goff, the Obama campaign’s digital director.
That’s because the more than 1 million Obama backers who signed up for the app gave the campaign permission to look at their Facebook friend lists. In an instant, the campaign had a way to see the hidden young voters. Roughly 85% of those without a listed phone number could be found in the uploaded friend lists. What’s more, Facebook offered an ideal way to reach them. “People don’t trust campaigns. They don’t even trust media organizations,” says Goff. “Who do they trust? Their friends.”…
Another interesting article that links to Obama’s campaign managers Twitter is this one at THE DAILY MAIL:
‘They were on our side’: Obama campaign director reveals Facebook ALLOWED them to mine American users’ profiles in 2012 because they were supportive of the Democrats
Carol Davidsen, who worked as the media director at Obama for America, claimed Obama campaign mined millions of people’s information from Facebook
She said that Facebook was surprised at the ease with which they were able to ‘suck out the whole social graph’
But the firm never tried to stop them when they realized what was doing, and even told them they’d made a special exception for them
They ‘were very candid that they allowed us to do things they wouldn’t have allowed someone else to do because they were on our side,’ she tweeted
Davidsen said that she felt the project was ‘creepy’ – ‘even though we played by the rules, and didn’t do anything I felt was ugly, with the data’
Davidsen posted this in the wake of the uproar over Cambridge Analytica, and their mining of information for the Trump campaign
Carol Davidsen, who worked as the media director at Obama for America and has spoken about this in the past, explained on Twitter that she and her team were able to ingest massive amounts of information from the social network after getting permission from Facebook users to access their list of friends.
‘Facebook was surprised we were able to suck out the whole social graph, but they didn’t stop us once they realized that was what we were doing,’ wrote Davidsen.
She wrote that, not only did Facebook not try to stop them, but the company said they’d made a special exception for them.
‘They came to office in the days following election recruiting & were very candid that they allowed us to do things they wouldn’t have allowed someone else to do because they were on our side,’ she tweeted.
Davidsen was then careful to note: ‘I am also 100% positive that Facebook activity recruits and staffs people that are on the other side.’ ….
“The President has put in place an organization with the kind of database that no one has ever seen before in life,” Representative Maxine Waters told Roland Martin on Monday.
“That’s going to be very, very powerful,” Waters said. “That database will have information about everything on every individual on ways that it’s never been done before and whoever runs for President on the Democratic ticket has to deal with that. They’re going to go down with that database and the concerns of those people because they can’t get around it. And he’s [President Obama] been very smart. It’s very powerful what he’s leaving in place.”
Tucker Carlson called out MSNBC’s Joy Reid on Tuesday, declaring that her show has “one topic.” (Editor’s note: Tucker, why are you being soo racist?) It seems quite a few normal activities are in fact racist.
“Look, every criminal lawyer I know, prosecutor, defense attorney, would agree with me that when you take a case from Virginia and put it in the District of Columbia, you are gaining a tactical advantage for the prosecution in a case in which the defendants are likely to come from the Trump administration,” he said.
“Politics matters. Race matters. Ethnicity matters. Every lawyer know that. I learned it from Johnnie Cochran who Maxine Waters praised to the hilt when he died and wanted to have Congress pass a resolution recognizing his greatness. Would she have called Johnnie Cochran a racist?
“Or does she revere it only for people that are not of her race? It absurdly throws around a word that should be reserved for true racists. When she calls a real racist a racist, nobody is going to believe her. She’s crying wolf and it dilutes the meaning of the word ‘racism.’ So shame on Maxine Waters.”
The renowned Harvard Law professor emeritus also called out Richard Painter, an ethics lawyer in the George W. Bush administration, who demanded in a tweet that Dershowitz “stop the racist B.S.”
“He’s just dead wrong. And he’s been wrong about so many things. He is so determined to find criminal conduct on the part of Trump that he’s prepared to make up crimes that don’t exist. How he served as an ethics lawyer for any administration is unclear to me,” Dershowitz told Cosby.
“I think he has to look in the mirror and question his own ethics using the word ‘racism’ to describe what he understands because he’s a lawyer. He understands that what I’m saying is factually, absolutely correct.
Mark Levin was called out on cable news about the language he uses. in describing no crime being named yet in any legal matter against the Trump administration. A grand jury is convened to see if a crime — clearly stated — is prosecuted. NOT to uncover a crime. Dumb! Maxine Waters makes the intentions of the socialist Left in Congress clear. That is, once Trump is impeached, Pence is next. This is why Charles Krauthammer said we are headed toward some Constitutional “choppy waters.”
The Democrats have already left the idea that there was collusion between the Trump admin and Russia (the mandate for Mueller), and are now merely looking into business dealings of the Trump children. Again, like with Clinton, like with Libby, someone will go to jail for not remembering 3-people in the room under oath when they said there were two.
And the Left just foams at the mouth… Pence is next.We are living in dangerous times of people not realizing the attack on our Constitutional form of government.
✦ Cannot use simple language on college campuses or you are deemed a racist (the Left’s way of saying they disagree with you); ✦ Cannot conduct an guest conduct an orchestra because a person is conservative and considered racist (the Left’s way of saying they disagree with you); ✦ Cannot run for office without being called a Nazi or Alt-Right (the Left’s way of saying they REALLY disagree with you); ✦ Cannot be placed into office without being called racist or alt-right (the Left’s way of saying they disagree with you); ✦ Cannot contribute money as a CEO to organizations that support traditional marriage, and are called a homophobe and racist (the Left’s way of saying they disagree with you); ✦ Cannot opt out of photographing weddings or baking goods for an specialized event, thus being called a homophobe and racist (the Left’s way of saying they disagree with you)…
In all those – and more – cases, you are banished from the campus, have the power of the state come after you, fired, fined, threatened to never be able to own a business again, have all business dealings looked into, etc., etc.
These are all tactics of the Left (insert name of any dictator or tyrant here) — many Democrats praise the leaks, just like in these totalitarian nations where if you had a dissenting you were told on to the state and consequences soon followed.
Larry Elder takes on a tour de force of the Left’s proclivity to mainstream violence in political language/life. Lots of audio (and edited in video) of many of the examples that were presented in yesterdays show. I cannot count how many times conservatives (myself personally), and Republicans have been told they are going to bring the human race to extinction. Most recently in a conversation the children of the person discussing the issue and my own were mentioned as having their lives gambled with by pulling out of the Paris/Kyoto Agreement.
I also noted on my FB this:
➤ If Republicans are “worse than terrorists”… why wouldn’t Leftists shoot them [us]? Yes, the Democrats (Bernie Sanders intimated this as well as others) say we are worse than ISIS due to rejecting the idea that mankind is driving in a significant manner climate change. The shooter had many posts on climate. I mean Democrats are seriously considering jailing Republicans for denying AGW (anthropogenic global warming).
This is crazy, and Democrats need to stop it. Period.
When you do nothing but call your opponents racists, Nazis, homophobes, Islamaphobes, Uncle Toms, xenophobes, sexists, etc. as a matter of course, you have zero right to be surprised when violence is used against the same opponents by the fringe. Rhetoric like that can never relieve the shooter of ultimate responsibility, but it lays the foundation for violence like what we saw today. There is a lot of screwiness on the “right” side of politics, these days. But it has NOT become violent. — Josh Charles
A few excerpts from James Hodgkinson’s (the shooter) letters, in his own words, via TWITCHY:
“As for my loving President Obama, I say when people look at the other side, the choice is obvious. I don’t want a president who won’t even keep his money in American banks. I don’t want a president who will lower taxes on the rich and raise them on the other 99 percent.”
“These men are trying to buy our country. You know they expect something for all this money. That something is that Mitt Romney and a Republican Congress won’t raise their taxes. We all know that the rich don’t pay enough taxes.”
“If the rich paid their fair share of taxes today, we wouldn’t be in this predicament. We need to vote all Republicans out of Congress. We need to demand Congress add 10 or more brackets to the existing tax code. We need 20 brackets to $20 million, and a 60 percent top marginal rate.”
“We can get our country back if we all vote the right way.”
“Let’s vote all Republicans out of Congress, and get this country back on track. We need 10 more tax brackets for income over $1 million, $2 million, $3 million, $4 million and $10 million.”
‘These guys are cheating everyone in this country while telling us all the time that they are broke when it is the super rich with all the money.’
“A strong middle class is what a country needs to prosper. The only thing that has trickled down in the last 30 years came from Mitt Romney’s dog.”
The Shooter of Rep. Steve Scalise is a radical Leftist. He was deeply involved in the Occupy Wall Street movement. He railed against the one-percent. Was a long-time fan of Bernie Sanders years before he ran for election. Mind you. the media has a role in egging people on that may have these radical tendencies. On my Facebook, I noted this:
If Republicans are “worse than terrorists”… why wouldn’t Leftists shoot them [us]? Yes, the Democrats (Bernie Sanders intimated this as well as others) say we are worse than ISIS due to rejecting the idea that mankind is driving in a significant manner climate change. The shooter had many posts on climate. I mean Democrats are seriously considering jailing Republicans for denying AGW (anthropogenic global warming).
This shooter was also egged on by Democrat politicians (the following is adapted a bit from FRONTPAGE MAGAZINE):
…What made James Hodgkinson believe that stopping the repeal of ObamaCare was a matter of life and death? Or, as he put it, “Republicans Want to Deny Most All Americans Health Care”?
It was Bernie Sanders who claimed that “thousands of Americans would die” if Republicans repealed ObamaCare. “Families will go bankrupt. People will die,” Elizabeth Warren had tweeted.
James Hodgkinson was a big Bernie supporter. And he was a fan of Elizabeth Warren.
Virginia Governor Terry McAuliffe — “People are going to lose lives.” Instead of trying to push gun control, he might have revisited his own rhetoric.
Congressman John Lewis claimed that the repeal would kill.
Congressman Ruben Gallego insisted that he didn’t have to be civil to Republicans because their “policies that are going to kill people”.
It’s a short step from accusing Republicans of killing people to suspending civility to wishing them dead.
And Democrat politicians were downright restrained compared to some of their media allies.
Newsweek’s Kurt Eichenwald wanted to see every Congressional Republican who voted for ObamaCare have a family member perish. “It should be their loved ones who die,” he ranted. “The goprs in congress didn’t just send out a tweet wishing for me to face my own death. They actually voted to do it. If people don’t give a damn about the consequences of what they do, they should face those consequences,” Eichenwald wrote in a statement.
James Hodgkinson was a fan of the Rachel Maddow show. Eichenwald was an MSNBC contributor and his work had been touted by Rachel Maddow.
Calls for violence against Republicans had become normalized.
A few days before the attack, the Huffington Post ran a piece calling for executing Trump “and everyone assisting in his agenda”. It has since come down, but a similarly themed piece defending a “violent response” to President Trump is still up.
Julius Caesar reimagined as Trump and leftist activists as his heroic assassins made headlines. “Killing Republicans” in neighboring Brooklyn did not.
“If the shooter has a serious health condition then is taking potshots at the GOP house leadership considered self defense?” Malcolm Harris, a regular at the New Republic, whose work has appeared at the Washington Post and Salon, inquired.
“Noam Chomsky calls the Republican Party the Most Dangerous Organization in Human History!” was one of the messages on his Facebook page. According to Chomsky, appearing on Democracy Now with Amy Goodman, Republicans are committed “to the destruction of organized human life on Earth.” Forget health care. Republicans are actually trying to wipe out the species by denying Global Warming.
James Hodgkinson participated in the People’s Climate March. Its theme, like Chomsky’s, was that Trump and Republicans were a threat to the entire planet.
If that’s true, shouldn’t someone save the planet by doing something about those Republicans?
Hodgkinson was taught by the left that all problems were reducible to Republican evil. He quoted Robert Reich, a Sanders Institute fellow, claiming that the poor economy was due to tax cuts for the rich.
“Trump is a Traitor. Trump Has Destroyed Our Democracy. It’s Time to Destroy Trump & Co,” Hodgkinson ranted. Trump isn’t destroying our democracy. The leftists trying to bring him down are.
The left has whipped up an angry mob and promised them that if they scream and shout enough, President Trump will be forced out of office. They manufactured a crisis and now it’s exploding on them. If they can’t deliver a coup, there will be more shootings like this one.
The Democrats are sleepwalking into a civil war. They want power, but like leftists from Russia to Cuba, they haven’t seriously contemplated the price that will have to paid for their bloody utopia.
When you heard the terrible news from Arizona, were you completely surprised? Or were you, at some level, expecting something like this atrocity to happen?
Put me in the latter category.
It’s true that the shooter in Arizona appears to have been mentally troubled. But that doesn’t mean that his act can or should be treated as an isolated event …
There isn’t any place for eliminationist rhetoric, for suggestions that those on the other side of a debate must be removed from that debate by whatever means necessary.
And it’s the saturation of our political discourse — and especially our airwaves — with eliminationist rhetoric that lies behind the rising tide of violence.
Where’s that toxic rhetoric coming from? Let’s not make a false pretense of balance: it’s coming, overwhelmingly, from the right …
So will the Arizona massacre make our discourse less toxic? It’s really up to G.O.P. leaders. Will they accept the reality of what’s happening to America and take a stand against eliminationist rhetoric? Or will they try to dismiss the massacre as the mere act of a deranged individual and go on as before?”
…then why not in this case? IN other words, the Left (politicians, the media, the culture, entertainment) has an extreme amount and acts of violence against conservatives, Trump supporters, as well as violent language (rhetoric). Jared Loughner was not a “Righty,” but James T. Hodgkinson was a “Leftist.” Many of the recent violent acts in fact are by person’s from the Left:
Elliot Rodger (“UCSB” shooter): Fan of the left-wing political talk show, The Young Turks.
James von Brunn (Holocaust Memorial Museum shooter): von Brunn hated Rupert Murdoch, Fox News, George W. Bush and John McCain.
Nidal Hasan (Ft Hood Shooter): Registered Democrat and Muslim.
Aaron Alexis (Navy Yard shooter): black liberal/Obama voter.
Seung-Hui Cho (Virginia Tech shooter): Wrote hate mail to President Bush and to his staff, registered Democrat.
James Holmes: the “Dark Knight”/Colorado shooter: Registered Democrat, staff worker on the Obama campaign, #Occu¬py guy, progressive liberal, hated Christians.
Amy Bishop: the rabid leftist, killed her colleagues in Alabama, Obama supporter.
Andrew J. Stack (IRS bomber, flew plane into IRS building in Texas): Leftist Democrat, hated Bush and capitalism.
James J. Lee (who was the “green activist”): leftist took hostages at Discovery Channel – progressive liberal Democrat.
John Patrick Bedell: (Pentagon Shooter) registered Democrat, talked about economic justice.
Nkosi Thandiwe (Shooting spree targeting white ppl): Accepted “white priveledge.”
Floyd Corkins (LGBT Chic-Fil-A shooter): hated conservative and Christians.
Karl Pierson (school shooter): loved communism, self-avowed Keynesian, hated Adam Smith and supported gun-control.
(For a list of LEFT-WING murderers/killers, see this article.)
THANKFULLY, the shooter will be added to the “Failed assassins (whose politics we know)” column:
…Even I initially thought that whoever did it was either a Republican or some backwoods, tinfoil-hat-wearing pseudo-Libertarian. Now that it’s come out he is a Democrat/Independent, it’s no surprise; virtually every assassin or would-be assassin of American presidents, both Republican and Democrat, have been leftists (to the extent that their political views are known).
Successful assassins (whose politics we know):
John Wilkes Booth, a Democrat, shot and killed President Lincoln
Charles Guiteau, a member of the communist Oneida Community, shot and killed President Garfield
Leon Czolgosz, a leftist anarchist (similar to the useful idiots in the Occupy movement) shot and killed President McKinley
Lee Harvey Oswald, a communist, shot and killed President Kennedy.
Failed assassins (whose politics we know):
Severino Di Giovanni, a leftist anarchist, tried to bomb President-elect Hoover’s train
Giuseppe Zangara, a professed anti-capitalist, tried shooting President-elect Franklin Roosevelt
Oscar Collazo and Griselio Torresola, two Marxists, tried killing President Truman at the Blair House
Samuel Byck, who tried joining the leftist Black Panther group, attempted to kill President Nixon
Lynette “Squeaky” Fromme, member of the Manson Family and also a hippie environmentalist, shot at President Ford
Sara Jane Moore tried to kill President Ford as well because, as she said, “the government had declared war on the Left.”
Ramiro Ortega-Hernandez, a leftist connected to the Occupy movement, tried getting a one-in-a-billion shot at President Obama by firing a gun at the White House
The only individual whose political motivations can be deduced as coming from the right side of the political spectrum is Francisco Martin Duran, who claims he was “incited” by conservative talk-show host Chuck Baker, but also claimed that he was trying to save the world from an alien mist which was connected by an umbilical cord to another alien in the Colorado mountains. So there’s that….