Friday, February 17, 2012

Quote du jour

As a rising young Chicago politician in 1995, no one campaigned more actively than Mr Obama for an amendment to the US Community Reinvestment Act, legally requiring banks to lend huge sums to millions of poor, mainly black Americans, guaranteed by the two giant mortgage associations, Fannie Mae and Freddie Mac.

It was this Act, above all, which let the US housing bubble blow up, far beyond the point where it was obvious that hundreds of thousands of homeowners would be likely to default. Yet, in 2005, no one more actively opposed moves to halt these reckless guarantees than Senator Obama, who received more donations from Fannie Mae than any other US politician...

-Christopher Booker

4 comments:

  1. Don't you wish there were more people with his and our view. This will stay buried in the name of "Fairness".

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  2. Brak is also the only person in American politics to have spent every Sunday for 20 years cheering at an African Klan rally.

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  3. Odie: The people screeching loudest about "banksters" seem to be the ones with their hands the farthest in the bankers' pockets.

    Chuck: Hard to see how the guy whose pastor baptized his children, inspired his book's title and spoke to him from the pulpit for twenty years, wasn't influenced at least a little bit by him!

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