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Re: Bailout Or Surrender? - By Michael Reagan
9/27/2008 5:04:44 PM

Thank you Nick.  You are a very sweet and dear friend

 

 

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Re: Bailout Or Surrender? - By Michael Reagan
9/28/2008 6:46:42 PM

Another Great Article by Michael Reagan

The Other Obama

Here we go again. After being subjected to eight

years of the collegial presidency of Bill and

Hillary, when we were told that when we got Bill we

got Hillary as a bonus, it looks as if we are facing

another twofer: Barack and Michelle.

Effete liberal Democrats are all but canonizing

Barack Obama, who they see as one of their own —

cool, detached, impressively intellectual — all in all

what Pat Buchanan described as something fresh out of

the faculty lounge, where lofty thoughts abound and

contempt for the great unwashed is hardly concealed.

That may be an apt description, implying that the

Barack Obama who scorned ordinary folks in small

towns who, he sneered, cling to such lower-class

crutches as religion and guns, is above the distractions

of the madding crowd.

It does not, however, fit the other half of the new

twofer, Michelle Obama, who far from being above

it all is down there in the trenches acting like the

flame-throwing liberal activist she is. To know her is

to know what her husband really believes.

As I have told my listeners of my radio show, if

you want to understand how Barack Obama uncomplainingly

sat through all those fire-breathing sermons

without so much as stirring uncomfortably you

need to understand the way husbands and wives

practice their religion these days.

The men in the pews for the most part are passive,

while the wives tend to be passionate. In most cases husbands

are there because their wives have dragged them

there. Chances are that while the women sit in rapt attention

to the words of their pastor, the husbands are snoozing,

blissfully unaware of what the reverend is preaching.

From what we’ve heard from Mrs. Obama she was

paying close attention to the Reverend Mr. Wright, eating

up his fiery words and probably enthusiastically

nodding agreement as he blamed whitey for inventing

AIDS to kill blacks as Barack dozed beside her, wondering

when the Reverend Wright was going to shut up.

Barack is now wide awake, and for the next seven

months he’s going to continue to be faced with explaining

why he remained silent while his pastor ranted in

the pulpit. And insisting that during his presence in the

pews the Reverend Wright never once acted like Reverend

Wright just won’t wash. Poor Barack, how can

he admit that he didn’t hear any of that rabble-rousing

rhetoric because he slept through all 20 years of it?

If you want to find the culprit here, turn to

Michelle. I’m willing to bet she heard every word of

the Reverend Wright’s inflammatory sermons, swallowed

them whole, and seethed in anger over White

America’s wretched mistreatment of her fellow black

Americans as described by her pastor.

Nowadays she’s playing the role of dutiful wife

and doting mother, but every once in a while her

anger surfaces as it did most famously when she told

a group in Milwaukee, “For the first time in my

adult life, I am proud of my country because it feels

like hope is making a comeback.”

Just what is hope in Michelle Obama’s lexicon?

Why it’s nobody other than the man she shared a

pew with for 20 years, her husband, who she brags

“is one of the smartest people you will ever encounter

who will deign [i.e. “lower himself”] to enter this

messy thing called politics.”

“We have lost the understanding that in a democracy,

we have a mutual obligation to one another —

that we cannot measure the greatness of our society

by the strongest and richest of us, but we have to

measure our greatness by the least of these,” she says.

“That we have to compromise and sacrifice for

one another in order to get things done. That is why

I am here, because Barack Obama is the only person

in this who understands that. That before we can

work on the problems, we have to fix our souls. Our

souls are broken in this nation.”

Barack Obama, our sole hope — the cobbler

who’ll mend our poor broken souls. With, of course,

the help of his wife Michelle.

BY MICHAEL REAGAN

Mr. Reagan is a syndicated radio talk-show host, author of

Twice Adopted (Broadman & Holman Publishers) and The

City on a Hill, and the son of former President Ronald Reagan.

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Re: Bailout Or Surrender? - By Michael Reagan
9/29/2008 5:43:46 PM
Pin The Tail On The Donkey

            By Michael Reagan
            September 18, 2008

       
When I was a little boy we used to play a game where we wore a blindfold and tried to put a slip of paper on a drawing of a donkey we couldn't see. I thought of that as I watched the chattering class, blindfolded and frantically trying to pin the blame for the Wall Street
debacle on everything but the real donkey, the Democrats, whose symbol is, guess what?
       
Right, a donkey, and that's where the blame lies, on Barack Obama's Democratic Party.
       
To find the donkey you need to go back to the Clinton
administration, which decided that everybody and his kid brother was entitled to a mortgage even when they didn't begin to qualify for a home loan.
       
In saner days, banks designated certain areas as no-loan zones - depressed neighborhoods where lending money to potential home buyers was not just a risky investment, but a certain future foreclosure. Critics
of the practice called it "redlining" and President Clinton and his chums on Capitol Hill decided that banks should no longer act like banks and lend money only to home buyers who could afford to handle the monthly payments.

Now all bets would be off and people not the least bit creditworthy -- and speculators -- would be entitled by law to obtain mortgages even when it was
obvious they couldn't afford to handle them.
       
Enter those now infamous quasi-government banking
instruments known as Fannie Mae and Freddie Mac, which poured fresh money into the banking system by buying mortgages from banks. Over the long haul
they managed to load up their portfolios with billions upon billions of dollars of risky mortgage paper that banks had been forced to offer and then dumped on them.
       
The scandal of Fannie Mae and Freddie Mac dwarfs the Enron debacle. In Enron, people went to jail. With the Fannies, some just walked away with millions.
       
The collapse of Lehman Brothers can be blamed on Fannie Mae and Freddi e Mac, the two big mortgage banks that the Feds recently bailed out with big bucks. As Fox News has pointed out, they used huge lobbying
budgets and political contributions to keep regulators off their backs.
        
According to the Center for Responsive Politics, the top
three U.S. Senators getting big Fannie and Freddie political bucks were Democrats, and No. 2 was Sen. Barack Obama, who as Fox noted had only been
in the Senate four years but still managed to grab that No. 2 spot ahead of longtime colleagues John Kerry and Chris Dodd, the chairman of the Senate Banking Committee.
       
According to Fox, Fannie and Freddie were where big-time Washington Democrats went to work and pocketed millions. Franklin Raines, Clinton's White House Budget Director, ran Fannie and collected $50 million.
       
Jamie Gorelick, an official in Clinton's Justice Department -- the woman who built the "wall" that prevented the FBI from targeting
terrorists before  9/11 -- worked for Fannie Mae and took home $26 million. Big-time Democrat Jim Johnson, who headed Obama's VP search committee, also hauled in millions from running Fannie Mae.
       
Obama brazenly blames John McCain and the GOP for the current Wall Street mess when it's clear none of it was due to Republican policies. The truth of the matter is that it was McCain and three GOP colleagues who sought to reform the government's lending policies three long years ago after the Bush administration had failed two years earlier. On May 25, 2006, McCain spoke on behalf of the Federal Housing Enterprise Regulatory Reform Act of 2005, and warned against the debacle we are now facing if it failed to pass.
       
He told the Senate that a report by the Office of Federal
Housing Enterprise Oversight charged that "Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives."
       
McCain warned, "If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the
economy as a whole."
       
McCain predicted the entire collapse we now are suffering through. He stressed the falsification of financial records to benefit executives, including Obama advisers Franklin Raines and Jim Johnson.
       
Now Obama has the nerve to try to pin the blame on McCain and the GOP when the facts show that the blame must be pinned on the Democratic donkey.


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