Vote for Free Enterprise and Defeat Radical Socialism (Barack Obama)

Posted on November 1, 2008. Filed under: Blogroll, Books, Climate, Communications, Economics, Employment, Energy, Immigration, Investments, Life, Links, Music, Politics, Quotations, Rants, Raves, Regulations, Resources, Security, Video, War | Tags: , , , , , , , , , , , , , , , , , , |

“…what will happen if a powerful government attempts to institute a socialist economy, that is, “socialist planning”? The answer was: this can be done only by force, by terror, by political enslavement.”

~Karl R. Popper, The Communist Road to Self-Enslavement

 

On November 4, 2008 the American people will go to the polls to elect the next President and Vice President of the United States of America.

This is the first election where the Democratic Party with the assistance of big media have conspired to elect the first radical socialist marxist, Barack Obama.

 

I Invented The Internet (Ep. 1: The Audacity)

 

The American people and their freedom and liberties are directly threatened if Senator Obama is elected President.

Do not believe any of the polls. They are mainly generated by big media that are supporting Obama.

These polls are largely being used to discourage you from voting.

Please vote.

If you are still undecided view:

 

1 Minute Voter Guide Video: Killer of American Dreams–Barack Obama–Radical Socialist

 

Only you can prevent socialism in America.

 

Enjoy Capitalism

 

 

Liberty and Economics

 

The Road to Serfdom – 1

 

The Road to Serfdom – 2

 

Milton Friedman on Libertarianism (Part 1 of 4)

 

Milton Friedman on Libertarianism (Part 2 of 4)

 

Milton Friedman on Libertarianism (Part 3 of 4)

 

Milton Friedman on Libertarianism (Part 4 of 4)

 

The Rise of Libertarianism in America

 

Free To Choose

http://www.freetochoosemedia.org/freetochoose/

 

Background Articles and Videos

Like Father, Like Son

By INVESTOR’S BUSINESS DAILY

Election ’08: Barack Obama’s economic blueprint sounds like one his communist father tried to foist on Kenya 40 years ago, with massive taxes and succor shrouded as “investments.”

 

“As a Nairobi bureaucrat, Barack Hussein Obama Sr. advised the pro-Western Kenyan government there to “redistribute” income through higher taxes. He also demonized corporations and called for massive government “investment” in social programs.

 

Barack Obama Sr., who died in 1982 at age 46 in a Kenya car crash.

Writing in a 1965 scholarly paper, Obama’s late father slammed the administration of then-President Jomo Kenyatta for moving the Third World country away from socialism toward capitalism. He chafed at the idea of relying on private investors — who earn “dividends” on their venture capital — to develop the country’s fledgling economy.

“What is more important is to find means by which we can redistribute our economic gains to the benefit of all,” said the senior Obama, a Harvard-educated economist. “This is the government’s obligation.” The “means” he had in mind were confiscatory taxes on a scale that redefines the term “progressive taxation.”

“Theoretically,” he wrote, “there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed.” …”

“…His son is also pushing massive taxes and “investments” in social programs — at the expense of free enterprise. Sen. Obama wants to raise the top marginal income-tax rate to at least 39%, while increasing Social Security taxes on those with higher incomes by completely removing the payroll cap. That means many entrepreneurs would be paying 12.4% (6.2% on employer and 6.2% on employee) on Social Security payroll taxes alone, plus the 2.9% on Medicare taxes, for a total federal tax rate of 54%.

In addition, Obama wants to jack up the capital-gains tax rate and reinstate the death tax.

Echoing his father, he argues that the government should impose “tax laws that restore some balance to the distribution of the nation’s wealth.”

And likewise, he asserts that the nation’s wealth ought to be rechanneled by government into “investments” in the economy and welfare programs that create “a new American social compact.”

“We can only compete if our government makes the investments that give us a fighting chance” in the global economy, the Democrat presidential hopeful said in his 2006 book, “The Audacity of Hope.” “And if we know that our families have some net beneath which they cannot fall.”

“Training must be expanded,” his father proposed as one of his government “investments.” Likewise, Sen. Obama wants to “invest” billions more in federal jobs retraining. …” 

http://www.ibdeditorials.com/IBDArticles.aspx?id=303952499910291

 

Question: Does Barack Obama Have Any Friends Who AREN’T Communists?

“…The news of Barack Obama’s close relationship with Frank Marshall Davis has been around before, but it’s important. Via Accuracy in Media:

[T]hrough Frank Marshall Davis, Obama had an admitted relationship with someone who was publicly identified as a member of the Communist Party USA (CPUSA). The record shows that Obama was in Hawaii from 1971-1979, where, at some point in time, he developed a close relationship, almost like a son, with Davis, listening to his “poetry” and getting advice on his career path. But Obama, in his book, Dreams From My Father, refers to him repeatedly as just “Frank.” 

The reason is apparent: Davis was a known communist who belonged to a party subservient to the Soviet Union. In fact, the 1951 report of the Commission on Subversive Activities to the Legislature of the Territory of Hawaii identified him as a CPUSA member.

Aren’t we seeing a pattern here? One interaction with one old communist isn’t particularly troubling. A handful of sporadic interactions with a handful of radical left-wingers may not be particularly troubling. But a lifelong pattern of extended associations and alliances with scores of fringe, America-hating radicals is very, very troubling indeed.

 

Just to be clear:

It’s not just that Barack Obama’s father was a Marxist economist or that his mother Stanley came from radical far-left roots.

It’s not just that Obama’s childhood mentor Frank Marshall Davis was a famous communist poet.

It’s not just that Jeremiah Wright, Obama’s pastor, counselor and spiritual mentor of 20 years is a racist, America-hating radical.

It’s not just that Michael Phleger, Obama’s other spiritual mentor is every bit as extreme as Wright.

It’s not just that his wife Michelle has never been really that proud of America, or that she thinks this country is “mean“.

It’s not just that Obama refused to wear a flag, or that he refused to salute it during the national anthem.

It’s not just that Obama’s political and financial benefactor William Ayers is an unrepentant radical socialist terrorist.

It’s not just that Bernadine Dohrn regrets that she didn’t kill more people back in the 1960s.

It’s not just that Alice Palmer, Obama’s political mentor in Chicago, was a communist propagandist.

It’s not just that Obama was a member of the radical socialist New Party or that he ran as a candidate for public office under their far-left platform.

It’s not just that Obama was an agitator, trainer and attorney for the corrupt and radical-left ACORN. ..”

http://mypetjawa.mu.nu/archives/194392.php

 

The Question of Barack Obama’s Socialism

By Donald Douglas

“…Thus, in both policy and associations, it’s clearly not unreasonable to identify Barack Obama as socialist, and not just of the democratic welfare state variety. …”

If elected, the Illinois Senator may very well take American government further to the left than in any time in U.S. history, not just in terms of market regulation, but in the fullest sense of the democratic socialist model of European-style welfare states.

http://americanpowerblog.blogspot.com/2008/10/question-of-barack-obamas-socialism.html

 

Protest at the L.A. Times: Free the tape! Updated

By Michelle Malkin

“…Several southern California readers send word that there will be a protest at the L.A. Times building today at 10am Pacific/1pm Eastern over the suppressed Obama/Khalidi tape.

Here’s the info: …”

http://michellemalkin.com/2008/10/30/protest-at-the-la-times/

 

 

Barack Obama and the Strategy of Manufactured Crisis

By James Simpson

Association of Community Organizations for Reform Now--ACORN
Association of Community Organizations for Reform Now–ACORN

“…As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.

Did they not know this would occur? Were these smart people, led by a Harvard graduate, unaware of the Econ 101 concept of moral hazard that would result from the government making implicit guarantees to underwrite private sector financial risk? They should have known that freeing the high-risk mortgage market of risk, calamity was sure to ensue. I think they did.

Barack Obama, the Cloward-Piven candidate, no matter how he describes himself, has been a radical activist for most of his political career. That activism has been in support of organizations and initiatives that at their heart seek to tear the pillars of this nation asunder in order to replace them with their demented socialist vision. Their influence has spread so far and so wide that despite their blatant culpability in the current financial crisis, they are able to manipulate Capital Hill politicians to cut them into $140 billion of the bailout pie!

God grant those few responsible yet remaining in Washington, DC the strength to prevent this massive fraud from occurring. God grant them the courage to stand up in the face of this Marxist tidal wave.

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html

 

Obama is Hiding a Radical Past!

  1. Barack Obama attended and participated in meetings of the Chicago New Party and the Chicago DSA, the local affiliate of the Democratic Socialists of America.
  2. Barack Obama sought the endorsement of the Chicago DSA which required rigorous scrutiny by the party’s Political Committee as well as Mr. Obama’s signature on a contract promising “a visible and active relationship with the NP.”
  3. Barack Obama actively used the endorsement from the Chicago DSA.
  4. Barack Obama won his DSA-endorsed and -backed campaign to secure his seat in the Illinois State Senate.
  5. Barack Obama continued his involvement with the Chicago DSA — including directly asking the group to join “his task forces on Voter Education and Voter Registration” — and received their endorsements in subsequent campaigns.

 

Obama’s participation in and endorsement from the Chicago New Party and Chicago DSA, the local affiliate of the Democratic Socialists of America (which is the U.S. affiliate of the Socialist International) is quite clear: …”

“…Conclusion
Barack Obama has a long-term and sustained relationship with the Chicago DSA, an affiliate of the Democratic Socialists of America, and with the Chicago New Party. He participated in multiple membership meetings and in DSA-sponsored events, repeatedly sought their endorsement. This does not answer all questions about Barack Obama’s past relationships with multiple socialist groups. What the media need to find out is this: Has Barack Obama broken his ties with them> If so, when and why? …”

http://www.noquarterusa.net/blog/2008/10/07/obama-is-hiding-a-radical-past/

 

Economics in One Lesson: Part 1

 

Economics in One Lesson: Part 2

 

Economics in One Lesson: Part 3

 

Economics in One Lesson: Part 4

 

Economics in One Lesson: Part 5

 

Economics in One Lesson: Part 6

 

Economics in One Lesson: Part 7

 

Economics in One Lesson: Part 8

 

Economics in One Lesson: Part 9

 

Economics in One Lesson: Part 10

 

Economics in One Lesson: Part 11

 

Economics in One Lesson: Part 12

 

Letters to a Captive Nation – #2 – Thomas Sowell

 

Letters to a Captive Nation – #3 – Thomas Sowell

 

Letters to a Captive Nation – #4 – Thomas Sowell

 

Letters to a Captive Nation

 

Socialism and Fascism pt.1

 

Socialism and Fascism pt.2

 

Socialism and Fascism pt.3

 

The Anticapitalists: Barbarians at the Gate

 

An Illusion of Freedom: Socialism to Fascism

 

350 Years of Economic Theory in 50 Minutes

 

 

Related Posts On Pronk Palisades

 

1 Minute Voter Guide Video: Killer of American Dreams–Barack Obama–Radical Socialist

Unconstrained Obama vs. Constrained McCain: A Conflict of Visions

Thomas Sowell and Conflict of Visions–Videos

Milton Friedman on Education–Videos

Vote for Free Enterprise and Defeat Radical Socialism (Barack Obama)

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

Voters Beware: The Radical Rules of Saul Alinsky and Leftist Democrats

Barack Obama–Radical Socialist–Outed On YouTube!

Barack Obama’s Second Socialist Terrorist Connection–Kenyan Moslem Terrorist Odinga

Barack Obama’s Third Socialist Terrorist Connection–Rashid Khalidi–PLO

Barack Obama–A Reader Not A Leader!

Barack Obama Cult? 

Joe The Plumber and Big Media–Invading and Covering Up The Lives of Others

Obama’s Outrageous October Socialist Sweet Surprise–How Sweet It Is?

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

Phoney Political Polls–Just Flip It Off–McCain 55% vs. Obama 40%

New Poll: McCain/Palin Will Win 50 States!–Obama/Biden Will Win 57 States?

General George S. Patton vs. Senator Barack H. Obama–No Contest

Marx, Lenin, Stalin, Mao, Castro, Chavez, Ayers–Obama, Biden–Socialist Thieves All!

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Movement Conservatives Will Rock You Obama!

Obama Anthem, Flag and Salute for The First Democratic Party Rally in Stadium

Conservative Turnout Will Determine the Outcome of The Presidential 2008 Race Between McCain vs. Obama

ACORN–Association of Community Organizations for Reform Now–Obama’s Red Shirts

Barrack “Taxman” Obama–Yes He Can Take Your Money–But Only You Can Stop Socialism!

Obama–ACORN–CRA–Congress–Democratic Party–Fannie Mae–

Trumping The Race Card: Is Barack Obama White Male Enough?

Comrade Barack Obama–Arrogant Elitist Socialist–US Job Destroyer and Economy Wrecker

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Obama and McCain–Socialism and Appeasement!

Barack Obama: A Watermellon Man–Green on The Outside–Red on The Inside

Fathers, Mothers and Babies for Senator John McCain!

Barack Obama Throws His White Grandma Under The Bus–Backs Up and Does It Again–Amazing!

Barack Obama–Damaged Goods–Birds of A Feather Flock Together

Ask a Greedy Green Government (GGG) Democratic to Pay for Your Gas

Clinton & Obama: First They Lie To You and Then They Steal Your Property!

Facing Fundamental Facts

Cap & Trade Taxes–Government Greedy Green Taxes–Based On Government Junk Science

Clinton’s Cap and Trade Tax on The American People for Consuming Electricity and Driving Cars, SUVs and Trucks!

Let Them Eat Cake Act: American Elites Killing and Starving The American People

Presidential Election 2008: American Elites Vs. American People

National Center for Policy Analysis–A Global Warming Primer

Global Warming is The Greatest Hoax, Scam and Disinformation Campaign in History

Global Warming Videos

Global Warming Books

Global Warming Sites

Al Gore: Agent of Influence or Useful Idiot of Disinformation

Al Gore: Agent of Influence and Planetary Propeller Head!

Al Gore’s Little White Lie: Man-Made Global Warming Causing Polar Bears To Drown 

Al Gore’s Big Whopper–Sea Levels Rise By 2100: Gore 20 Feet vs IPCC 2 Feet?  

 Born Again Oil Man: John “spud” McCain–Praise The Lord and Start Drilling

ANWR: Pristine–Pristine–Pristine–Desolute–Desolute–Desolute–Drill–Drill–Drill– McCain/Romney: Drill Here. Drill Now. Pay Less!

Presidential Election 2008: American Elites Vs. American People

The Heidelberg Appeal: Beware of False Gods and Prophets 

Going Deep–Cool–Deep Ocean Water (DOW)–Ocean Power!

Saving The World: The Importance of Getting The Priorities Right

A Place for Your Stuff–When You Are Dead–You Just Disappear–You are Going Away–Your Safe At Home!: George Carlin RIP 

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

John McCain’s Position on Illegal Immigration and Criminal Alien Removal? 

Presidential Election 2008: American Elites Vs. American People

Alan Keyes on Immigration

US Immigration Videos 

Read Full Post | Make a Comment ( 3 so far )

Thomas Sowell and Conflict of Visions–Videos

Posted on October 31, 2008. Filed under: Blogroll, Climate, Economics, Education, Employment, Energy, Immigration, Investments, Links, Politics, Quotations, Raves, Regulations, Resources, Security, Taxes, Video, War | Tags: , , , , , , |

 

While Thomas Sowell has written many books, two that I would recommend to any reader are  A Conflict of Visions: Ideological Origins of Political  Struggles (1987) and The Vision of the Anointed: Self-Congratulation as a Basis for  Social Policy (1995).

The videos below discuss the book–A Conflict of Visions:

 

Letters to a Captive Nation – #2 – Thomas Sowell

 

Letters to a Captive Nation – #3 – Thomas Sowell

 

Letters to a Captive Nation – #4 – Thomas Sowell

 

Letters to a Captive Nation

 

A Conflict of Visions are exemplified by the 2008 elections for President of the United States:

Unconstrained Obama vs. Constrained McCain: A Conflict of Visions
 

 

Thomas Sowell

“…Thomas Sowell (born June 30, 1930), is an American economist, social commentator, and author of dozens of books. He often writes from an economically laissez-faire perspective. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science. …”

http://en.wikipedia.org/wiki/Thomas_Sowell

 

Biography: Thomas Sowell

“…Sowell’s intent not to be swayed by voices of dissent among other African American leaders may be illustrated by one of his favorite quotations, as listed on his own home page and attributed to David Ricardo: “I wish that I may never think the smiles of the great and powerful a sufficient inducement to turn aside from the straight path of honesty and the convictions of my own mind.” …”

Further Reading

http://www.answers.com/topic/thomas-sowell

 

Thomas Sowell

Rose and Milton Friedman Senior Fellow
The Hoover Institution
Stanford University
Stanford, California 94305

http://www.tsowell.com/

 

BOOKS WRITTEN

http://www.tsowell.com/writings.html

 

 Background Articles and Videos

Dennis Prager & Thomas Sowell – Part 1/3: Global Warming, Iraq, “Annointed” Liberals

Dennis Prager & Thomas Sowell – Part 2/3: Housing Crisis, Nuclear Iran, Wall Street

 

 

Uncommon Knowledge: Thomas Sowell

http://fora.tv/2008/02/21/Uncommon_Knowledge_Thomas_Sowell

 

Thomas Sowell: Before and After Affirmative Action

 

Thomas Sowell – Welfare

Thomas Sowell Speaking at The Fairmont Conference (1980)

 

Thomas Sowell – Is “Income Stagnation” an Economic Myth?

 

Thomas Sowell on Barack Obama

 

Charlie Rose September 15 1995: Interview with Thomas Sowell, 29 minutes into video

 

Thomas Sowell Translates Political Rhetoric

 

Columns by Thomas Sowell

http://townhall.com/columnists/thomassowell/archive.shtml

Enjoy Capitalism

 

 

Charlie Rose – An Appreciation of Milton Friedman

 

Charlie Rose: June 1, 1999 interview with Milton Friedman

 

Free To Choose

http://www.freetochoosemedia.org/freetochoose/

 

Related Posts On Pronk Palisades

 

Unconstrained Obama vs. Constrained McCain: A Conflict of Visions

Milton Friedman on Education–Videos

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

Trumping The Race Card: Is Barack Obama White Male Enough?

Barrack “Taxman” Obama–Yes He Can Take Your Money–But Only You Can Stop Socialism!

Comrade Barack Obama–Arrogant Elitist Socialist–US Job Destroyer and Economy Wrecker

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Obama and McCain–Socialism and Appeasement!

Barack Obama: A Watermellon Man–Green on The Outside–Red on The Inside

Fathers, Mothers and Babies for Senator John McCain!

Barack Obama Throws His White Grandma Under The Bus–Backs Up and Does It Again–Amazing!

Barack Obama–Damaged Goods–Birds of A Feather Flock Together

Barack Obama Cult?

Barack Obama–A Reader Not A Leader! 

Voters Beware: The Radical Rules of Saul Alinsky and Leftist Democrats

Ask a Greedy Green Government (GGG) Democratic to Pay for Your Gas

Clinton & Obama: First They Lie To You and Then They Steal Your Property!

Facing Fundamental Facts

Cap & Trade Taxes–Government Greedy Green Taxes–Based On Government Junk Science

Clinton’s Cap and Trade Tax on The American People for Consuming Electricity and Driving Cars, SUVs and Trucks!

Let Them Eat Cake Act: American Elites Killing and Starving The American People

Presidential Election 2008: American Elites Vs. American People

National Center for Policy Analysis–A Global Warming Primer

Global Warming is The Greatest Hoax, Scam and Disinformation Campaign in History

Global Warming Videos

Global Warming Books

Global Warming Sites

Al Gore: Agent of Influence or Useful Idiot of Disinformation

Al Gore: Agent of Influence and Planetary Propeller Head!

Al Gore’s Little White Lie: Man-Made Global Warming Causing Polar Bears To Drown 

Al Gore’s Big Whopper–Sea Levels Rise By 2100: Gore 20 Feet vs IPCC 2 Feet?  

 Born Again Oil Man: John “spud” McCain–Praise The Lord and Start Drilling

ANWR: Pristine–Pristine–Pristine–Desolute–Desolute–Desolute–Drill–Drill–Drill– McCain/Romney: Drill Here. Drill Now. Pay Less!

Presidential Election 2008: American Elites Vs. American People

The Heidelberg Appeal: Beware of False Gods and Prophets 

Going Deep–Cool–Deep Ocean Water (DOW)–Ocean Power!

Saving The World: The Importance of Getting The Priorities Right

A Place for Your Stuff–When You Are Dead–You Just Disappear–You are Going Away–Your Safe At Home!: George Carlin RIP 

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

John McCain’s Position on Illegal Immigration and Criminal Alien Removal? 

Presidential Election 2008: American Elites Vs. American People

Alan Keyes on Immigration

US Immigration Videos 

 

Read Full Post | Make a Comment ( 64 so far )

Profiles in Opportunism–General Colin Powell–RINO Ingrate

Posted on October 21, 2008. Filed under: Blogroll, Economics, Links, Politics, Quotations, Rants, Raves, Science, Security, Strategy, Taxes, Technology, Video, War | Tags: , , , , , , , , , , , , , , , , , |

“One man’s opportunism is another man’s statesmanship”

 ~Milton Friedman

 

The personal attacks against me during the primary finally became so heavy that the state Republican chairman, Gaylord Parkinson, postulated what he called the Eleventh Commandment: Thou shalt not speak ill of any fellow Republican. It’s a rule I followed during that campaign and have ever since.

~Ronald Reagan

 

RicePowellBushRumsfeld.jpg

 

General Colin Powell Endorses Barack Obama! pt.1

 

General Colin Powell Endorses Barack Obama! pt.2

 

h4>General Colin Powell Endorses Barack Obama! pt.3

 

I would have voted for General Powell had he decided to run and obtained the nomination in 1996.

While not totally surprised by General Powell’s endorsement of Senator Obama, his reasoning is highly suspect. Frankly it does not make sense.

Senator Obama is a radical socialist that has associated with a black racist minister for over twenty years, two terrorist bombers for over twelve years, convicted felons, and the very far left of the Democratic Party and several leftist socialist parties.

 

Top 20 Obama Pastor Comments You Never Saw

 

Barack Obama & Friends Sean Hannity Special

 

Barack Obama & Friends Sean Hannity Special Part 2

 

Barack Obama & Friends Sean Hannity Special Part 3 

 

Barack Obama & Friends Sean Hannity Special Part 4

 

Barack Obama & Friends Sean Hannity Special Part 5

 

Barack Obama & Friends Sean Hannity Special Part 6

 

 

Barack’s Trinity Church (Part 1 of 2)

 

Barack’s Trinity Church (Part 2 of 2)

 

Ayers’ Weathermen planned “re-education”, genocide

 

Either General Powell has not done his homework or he has conveniently chosen to ignore it.

Senator Obama could not pass a routine FBI or Secret Service background check.

Red flags would be flying!

Obama is an economic illiterate, ask Thomas Sowell for his opionion. He is no fan of either Senator McCain or Senator Obama.

Senator McCain is a moderate Republican that leans towards to right some of the time.

The problem the Republican Party has is it moved to the left over the last four years and nearly destroyed the party in the process.

Senator McCain did not fire you General Powell, President George W. Bush did when he asked for your letter of resignation.

Instead Senator McCain wanted your opponent Defense Secretary Rumsfeld fired.

Senator McCain was right and President George W. Bush was very slow in changing strategy and leadership of the war in Iraq.

While I understand identity politics, I think people who vote this way will be very disappointed.

Several Republican Presidents gave General Powell career opportunities that very few military officers are ever given.

For General Powell at this late date to decide to support a Senator that is unqualified and of questionable character smells of opportunism, ingratitude and poor judgement.

General Powell was fooled, he will regret his endorsement.

President McCain will remember this betrayal by General Powell of his former party.

Weapons of mass destruction did exist and still exist in Iraq and Syria.

 

Democrats on Iraq + WMD’s (Weapons of Mass Destruction)

 

Al Gore: No Doubt Saddam’s Weapons Are Grave Threat

 

If Bush Lied, Did Bill Clinton Lie on Iraq WMD?

 

Gore criticizes Bush for ignoring Iraq’s ties to terrorism

 

Newt Gingrich on Powell endorsement

 

Our own “Phoney War” – Newt Gingrich

 

Rush Limbaugh, Race And The Colin Powell Endorsement

 

Colin Powell

Colin Luther Powell (born April 5, 1937[1]) is a retired General in the United States Army. He was the 65th United States Secretary of State (2001–2005), serving under President George W. Bush. As a General in the United States Army, Powell also served as National Security Advisor (1987–1989) and as Chairman of the Joint Chiefs of Staff (1989–1993), holding the latter position during the Gulf War. He was the first and, so far, the only Jamaican American to serve on the Joint Chiefs of Staff or in the Cabinet. …”

http://en.wikipedia.org/wiki/Colin_Powell

Republican In Name Only

Republican In Name Only, or RINO, is a neologism created by Los Angeles conservative activist Celeste Greig. It is considered a disparaging term for a member of the Republican Party of the United States (the GOP) whose political views or actions are perceived as insufficiently conservative or otherwise outside the party mainstream. …”

http://en.wikipedia.org/wiki/Republican_In_Name_Only

 

The Colin Powell endorsement: Triumph of hope over reality

By Michelle Malkin  

“…Powell’s embrace of Barack Obama is a triumph of hope over reality. He told Tom Brokaw that Obama’s “steadiness” and “not jumping in and changing every day” convinced him that The One was ready to lead.

Hello?

Guess Powell relied on Obama’s website after he purged his surge criticism from it.

Powell then goes on to pooh-pooh Obama’s longtime “limited relationship” with Weather Underground terrorist Bill Ayers as an “issue that is not central” to the campaign — just as evidence of the closeness of these two very chummy “neighbors” mounts.

Judgment, schmudgment, eh, Secretary Powell?

Finally, we arrive at the real reason Powell is endorsing Obama: The party, he complains, has become too “narrow” for his tastes. Pro-abortion Powell can’t stand the thought of two more Republican Supreme Court appointments. He thinks Sarah Palin is too conservative. He shares the Obama view of our base as racist and non-inclusive — but has nothing to say about the rabid pack of America-damning preachers who helped make Obama the “transformational” figure Powell has placed his faith in.  …” 

http://michellemalkin.com/

 

Thomas Sowell: Obama has voters convinced his ‘change’ is needed

“…Perhaps a defining moment in showing Obama’s priorities was his declaring, in answer to a question from Charles Gibson, that he was for raising the capital gains tax rate. When Gibson reminded him of the well-documented fact that lower tax rates on capital gains had produced more actual revenue collected from that tax than the higher tax rates had, Obama was unmoved.

The question may be the economic issue, but the political issue is whether socking it to “the rich” in the name of “fairness” gains more votes.

Since about half the people in the United States own stocks — either directly or because their pension funds buy stocks — socking it to people who earn capital gains is by no means socking it just to “the rich.”

If you are a nurse or mechanic who will be depending on your pension to take care of you when you retire — as Social Security is unlikely to do — you may not think of yourself as one of the privileged.

Obama is for higher minimum wage rates. Does anyone care what actually happens in countries with higher minimum wage rates? Of course not. Studies show that higher minimum wage rates usually mean higher unemployment rates among lower skilled and less experienced workers.

http://www.norwichbulletin.com/opinions/columnists/x518448713/Thomas-Sowell-Obama-has-voters-convinced-his-change-is-needed

 

Barack Obama on Taxes

 

 United States Security and the Strategic Landscape

 

Thomas Barnett: The Pentagon’s new map for war and peace

 

The Pentagons New Map – Thomas Barnett lecture

http://video.google.com/videoplay?docid=4689061169761152025

 

“Pat Brown brought Senator Edward Kennedy to California to help him campaign, and he began a speaking trip around the state declaring, “Reagan has never held any political office before and here he is seeking the top spot in the government of California.” He abandoned that theme after my next speech, when I said, “I understand there’s a senator from Massachusetts who’s come to California and he’s concerned that I’ve never held office prior to seeking this job. Well, you know, come to think of it, the senator from Massachusetts never held any job before he became a senator.”

~Ronald Reagan

http://www.ronaldreagan.com/campaign.html

LOL

Red State Update: Colin Powell Endorses Obama

 

 

Related Posts On Pronk Palisades

Killer of American Dreams–Barack Obama–Radical Socialist–Video 

Phoney Political Polls–Just Flip It Off–McCain 55% vs. Obama 40%

New Poll: McCain/Palin Will Win 50 States!–Obama/Biden Will Win 57 States?

General George S. Patton vs. Senator Barack H. Obama–No Contest

Marx, Lenin, Stalin, Mao, Castro, Chavez, Ayers–Obama, Biden–Socialist Thieves All!

George Soros: Barack Obama’s Money Man and Agenda Puppeter

The Movement Conservatives Will Rock You Obama!

Obama Anthem, Flag and Salute for The First Democratic Party Rally in Stadium

Conservative Turnout Will Determine the Outcome of The Presidential 2008 Race Between McCain vs. Obama

ACORN–Association of Community Organizations for Reform Now–Obama’s Red Shirts

Barrack “Taxman” Obama–Yes He Can Take Your Money–But Only You Can Stop Socialism!

Voters Beware: The Radical Rules of Saul Alinsky and Leftist Democrats

Obama–ACORN–CRA–Congress–Democratic Party–Fannie Mae–Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Unconstrained Obama vs. Constrained McCain: A Conflict of Visions

Outting Obama: Radical Racist Rabble Rouser Reader

Barack Obama: The First Previable Puppet Presidential Candidate!

Barack Obama–A Reader Not A Leader!

Barack Obama Cult? 

Barack Obama: A Watermelon Man–Green on The Outside–Red on The Inside

Barack Obama–Damaged Goods–Birds of A Feather Flock Together

Read Full Post | Make a Comment ( 7 so far )

Barack Obama’s Second Socialist Terrorist Connection–Kenyan Moslem Terrorist Odinga

Posted on October 11, 2008. Filed under: Blogroll, Economics, Links, People, Politics, Quotations, Rants, Religion, Resources, Taxes, Video, War | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

“The best mirror is an old friend.”
~George Herbert

 

Barack Obama & Raila Odinga

 

Obama and Odinga Campaign in Kenya  

 

PROOF OBAMA BACKED KENYA DICTATOR RAILA ODINGA

 

Obama And Odinga Exposed

 

Obama Supporting Islamic Terror Regime in Kenya

Jerome Corsi – Obama & Odinga of Kenya

The Obama and Odinga Connection

 

 

First, Barack Obama lies and misleads the American people about his relationship with friend and fellow radical socialist, Bill Ayers, the unrepentant domestic terrorist bomber.

Second, Barack Obama lies and misleads the American people about his continuing relationship to ACORN, the Association of Community Organizations for Reform Now.

ACORN has been in the news lately because of its involvement in both widespread voter registration fraud  in a many states and its history of advocating and extorting banks to make mortage loans to unqualified borrowers that over time lead to the current financial crisis on Wall Street.

Now, Barack Obama is silent about his relative and fellow radical socialist, Raila Odinga, a Kenyan unrependent terrorist that incited tribal violence in Kenya resulting in the deaths of over 1500 Kenyans primarily Christians.

Kenya is predominantly a Christian nation with over 78% of the population being either Protestant or Catholic and about 10% Moslem.

There seems to be an Obama pattern and practice here of associating with radical socialist and terrorists.

Barack Obama is a socialist that associates with a network of socialists both in the United States and abroad.

Senator Obama exercises poor judgement when it comes to selecting his friends.

When the truth of the relationship and the ideas and activities of his radical socialists friends becomes known, Senator Obama routinely  “throws them under the bus” by denouncing them and disassociating himself from them.

How convenient.

The American people regard radical socialist terrorists like Ayers and Odinga as beyond the pale.

I agree with Charles Krauthammer who wrote recently:

“Convicted felon Tony Rezko. Unrepentant terrorist Bill Ayers. And the race-baiting Rev. Jeremiah Wright. It is hard to think of any presidential candidate before Barack Obama sporting associations with three more execrable characters. Yet let the McCain campaign raise the issue, and the mainstream media begin fulminating about dirty campaigning tinged with racism and McCarthyite guilt by association.   

But associations are important. They provide a significant insight into character. They are particularly relevant in relation to a potential president as new, unknown, opaque and self-contained as Obama. With the economy overshadowing everything, it may be too late politically to be raising this issue. But that does not make it, as conventional wisdom holds, in any way illegitimate.

McCain has only himself to blame for the bad timing. He should months ago have begun challenging Obama’s associations, before the economic meltdown allowed the Obama campaign (and the mainstream media, which is to say the same thing) to dismiss the charges as an act of desperation by the trailing candidate.”

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/09/AR2008100902328.html?hpid=opinionsbox1 

I urge you to read Krauthammer’s entire editorial opinion.

Barack Obama freely chose to associate himself with Ayers, Wright, Pfleger, and Odinga and only renounced them when the revelation of his friends activities and views became widely known.  

Why did Barack Obama associate with these people?

There are two possibilites.

Both of which make him unqualified to be President of the United States of America.

One, Barack Obama has poor judgement as to the character and integrity of the people he associates with such as Ayers, Wright, Rezko, and Odinga, just to name a few.

Second, Barack shares their radical socialist views, means and ends.

I am convinced the second possibility is the truth and where Barack Obama heart lies.

Obama knows that he must mask his association with radical socialists and his socialist views to get elected in the United States.

This is not guilt by association, it is guilt by revelation.

Thomas Sowell is correct to point out that for Barack Obama the associations with Ayers, Wright, Pflegger, Rezko, ACORN and Odinga that supported his political career and Obama in turn supported their agenda were alliances with common socialist goals or ends.:

“…Obama could have allied himself with all sorts of other people. But, time and again, he allied himself with people who openly expressed their hatred of America. No amount of flags on his campaign platforms this election year can change that. …”

The pump and dump drive-by mainstream media, black Americans, liberals, progressives, communists and socialists are supporting him by a margin of 9 to 1. 

This is blind identity politics; they are not interested in seeing or hearing the truth about Obama.

A case of mass invincible ignorance–do not confuse me with the facts, I have already made up my mind.

This will result in Barack Obama getting about 35% of the vote and maybe another 1%  by organized voter fraud using such organizations as ACORN and its affiliates.

Only if the mask remains in place will Obama get another 15% of the vote needed to win in November.

The time to rip off the mask of Barack Obama and reveal what he is past due.

Barack Obama is bad for America; he is bold, arrogant, and dangerous (BAD).

Governor Palin was absolutely right when she said of Senator Obama:

 “This is not a man who sees America like you and I see America.”

Sarah Palin Tells The Truth About Obama’s Terrorist Friends (Barack Obama Palling Around With Terrorist Friend, Bill Ayers)

 

Only you can prevent socialism in America. 

“You will know them by their fruits. Grapes are not gathered from thorn bushes nor figs from thistles, are they?”

Matthew 7:16

Background Articles and Videos

 

Obama’s Kenya ghosts

Mark Hyman
Sunday, October 12, 2008

“…By mid-February 2008, more than 1,500 Kenyans were killed. Many were slain by machete-armed attackers. More than 500,000 were displaced by the religious strife. Villages lay in ruin. Many of the atrocities were perpetrated by Muslims against Christians.

The violence was led by supporters of Raila Odinga, the opposition leader who lost the Dec. 27, 2007, presidential election by more than 230,000 votes. Odinga supporters began the genocide hours after the final election results were announced Dec. 30. Mr. Odinga was a member of Parliament representing an area in western Kenya, heavily populated by the Luo tribe, and the birthplace of Barack Obama’s father. …”

“…Mr. Obama’s judgment is seriously called into question when he backs an official with troubling ties to Muslim extremists and whose supporters practice ethnic cleansing and genocide. It was Islamic extremists in Kenya who bombed the U.S. Embassy in 1998, killing more than 200 and injuring thousands. None of this has dissuaded Mr. Obama from maintaining disturbing loyalties. “

http://www.washtimes.com/news/2008/oct/12/obamas-kenya-ghosts/ 

 

Kenya: Opposition Officials Helped Plan Rift Valley Violence

Police Should Protect Displaced Persons Camps

“…Human Rights Watch investigations indicate that, after Kenya’s disputed elections, opposition party officials and local elders planned and organized ethnic-based violence in the Rift Valley, Human Rights Watch said today. The attacks, targeting mostly Kikuyu and Kisii people in and around the town of Eldoret, could continue unless the government and opposition act to stop the violence, Human Rights Watch said.

Human Rights Watch called on the opposition Orange Democratic Movement (ODM) leadership to take immediate steps to stop its supporters from committing further attacks. At the same time, Human Rights Watch said the Kenyan police should urgently deploy extra officers to the region to protect displaced people and resident Kikuyu communities.  
 
“Opposition leaders are right to challenge Kenya’s rigged presidential poll, but they can’t use it as an excuse for targeting ethnic groups,” said Georgette Gagnon, acting Africa director at Human Rights Watch. “We have evidence that ODM politicians and local leaders actively fomented some post-election violence, and the authorities should investigate and make sure it stops now.”  
 
Research by Human Rights Watch in and around the town of Eldoret, which has borne the brunt of the Rift Valley violence, indicates that attacks by several ethnic communities against others, especially local Kikuyu populations, were planned soon after the elections. In some cases, local elders and opposition politicians appear to have incited and organized the violence. Since December 27, 2007, clashes between members of the Kalenjin and Luya communities and their Kikuyu and Kisii neighbors in the Rift Valley have left more than 400 people dead and have displaced thousands more.  
 
Human Rights Watch interviewed members of several pro-ODM Kalenjin communities who described the ways in which local leaders and ODM party agents actively fomented violence against Kikuyu communities. A Kalenjin preacher in a village in Eldoret North constituency told Human Rights Watch that on the morning of December 29, 2007, a local ODM party mobilizer “called a meeting and said that war had broken in Eldoret town, so the elders organized the youth into groups of not less than 15, and they went to loot [Kikuyu] homes and burn them down.”  

http://hrw.org/english/docs/2008/01/23/kenya17859.htm

 

 

Kenya

Map of Kenya

Map of Kenya

“…The country has an area of 225,000 square miles and a population of 35.5 million; approximately 80 percent live in rural areas. Approximately 80 percent of the country practices Christianity; Protestants represent 58 percent of the Christian majority, Roman Catholics represent 42 percent. Ten percent of the population practice Islam, less than 1 percent practice Hinduism, Sikhism, and Baha’i, and the remainder follow various traditional indigenous religions. There are very few atheists. Some Muslim groups claim to represent up to 30 percent of the population; this figure is not supported by demographic data.

Certain groups tend to dominate particular regions. For example, North Eastern Province, where the population is chiefly ethnic Somali, is home to 15 percent of the Muslim population. Sixty percent of the Muslim population lives in Coast Province, comprising 50 percent of the total population there. Western areas of Coast Province are mostly Christian. The north-central part of the country is home to 10 percent of the Muslims, making it the majority religious group there. Apart from the ethnic Somali population in Nairobi, the rest of the country is largely Christian.

Many foreign missionary groups operate in the country. The Government generally permits missionary groups to assist the poor and to operate schools and hospitals. Missionaries openly promote their religious beliefs and encounter little interference from the Government.

http://www.state.gov/g/drl/rls/irf/2007/90103.htm

Why did Obama support muslim terrorist Raila Odinga & Sharia law in Kenya?

“When Obama went to Kenya in August of 2006, he was hosted by Raila, his cousin, and spoke in praise of him at rallies in Nairobi: Obama’s bias for his fellow Luo was so blatant that a Kenya government spokesman denounced Obama during his visit as Raila’s ‘stooge.’
Raila Odinga, then the current presidential frontrunner, had promised to implement strict Islamic Sharia law if he received the Muslim vote and was elected president. Odinga had signed a secret memorandum of understanding with Sheikh Abdullahi Abdi, chairman of the National Leaders Forum, in which Odinga had allegedly stated his intention, if elected, to: ‘within six months, rewrite the Constitution of Kenya to recognize Sharia as the only true law sanctioned by the Holy Quran for Muslim declared regions’. I hope Obama’s female voters are ready to be stoned to death if they visit Kenya and even look sideways at a man. …”

http://answers.yahoo.com/question/index?qid=20080223182108AACaLqU

Obama: The Kenya Connection
BY Edwin Okong’o

“…Kenyans believe in Barack Obama so much that I’m willing to bet that if he were to run against our President Mwai Kibaki and opposition leader Raila Odinga — the two men at the center of Kenya’s disputed December 27 election that has led to widespread tribal violence — he would win in a landslide.

The absolute support that Kenyans offer Obama comes from the fact that his father was Kenyan, which, according to our tradition, makes him our own. In most of our tribal cultures, a child belongs to the father. This overshadows the fact that his mother was a white American. Likewise, the fact that Obama doesn’t hold Kenyan citizenship, or speak any Kenyan language, is insignificant. Kenyans, especially those from his father’s home province of Nyanza, love him so much that they have already renamed a primary school and a high school in his honor. In Kenyan bars, you can order “Obama beer,” a brew that used to be named “Senator” long before he became one. …”

“…But given Odinga’s controversial background and the continued ethnic violence in Kenya, his attempts to invoke Obama’s name may undermine Obama’s campaign in the U.S.

Odinga is the son of Jaramogi Oginga Odinga, Kenya’s first vice-president, a socialist who sent his son to Communist East Germany for college. The younger Odinga named one of his sons Fidel Castro and has also admitted to being one of the masterminds of a 1982 attempted coup against Daniel arap Moi, Kenya’s second president. In American Op-Ed pages and in the blogosphere, many of Obama’s political foes are already capitalizing on his supposed ties to Odinga.

When Obama took time off his campaign in New Hampshire to make a five-minute phone call to Odinga, urging him to talk with President Kibaki in order to avoid more bloodshed, New York Sun columnist Daniel Johnson wrote, “If [Obama] has been putting tribal or family considerations above America’s national interest by supporting Mr. Odinga’s anti-Western candidacy, it raises serious questions about his judgment.”

By using the words “tribal considerations” Johnson assumes that Obama identifies with his father’s tribe, the Luo, the main group clashing with the majority Kikuyus. But Obama has never claimed to be a Kenyan, let alone a Luo. He has said repeatedly that his loyalty is to the people of Illinois, who he represents, and to his fellow Americans. …”

http://www.pbs.org/frontlineworld/blog/2008/01/the_kenya_conne.html

Who Are the Kikuyu?And why do Kenya’s other tribes resent them so much?

Like Father, Like Son 

INVESTOR’S BUSINESS DAILY

Election ’08: Barack Obama’s economic blueprint sounds like one his communist father tried to foist on Kenya 40 years ago, with massive taxes and succor shrouded as “investments.”

“…Writing in a 1965 scholarly paper, Obama’s late father slammed the administration of then-President Jomo Kenyatta for moving the Third World country away from socialism toward capitalism. He chafed at the idea of relying on private investors — who earn “dividends” on their venture capital — to develop the country’s fledgling economy.

“What is more important is to find means by which we can redistribute our economic gains to the benefit of all,” said the senior Obama, a Harvard-educated economist. “This is the government’s obligation.” The “means” he had in mind were confiscatory taxes on a scale that redefines the term “progressive taxation.”

“Theoretically,” he wrote, “there is nothing that can stop the government from taxing 100% of income so long as the people get benefits from the government commensurate with their income which is taxed.”

Therefore, he added, “I do not see why the government cannot tax those who have more and syphon some of these revenues into savings which can be utilized in investment for future development.”

As Obama’s father saw it, taxes couldn’t be high enough, so long as the collective benefited. “Certainly there is no limit to taxation if the benefits derived from public services by society measure up to the cost in taxation which they have to pay,” he said. “It is a fallacy to say that there is this limit, and it is a fallacy to rely mainly on individual free enterprise to get the savings.”

His son is also pushing massive taxes and “investments” in social programs — at the expense of free enterprise. Sen. Obama wants to raise the top marginal income-tax rate to at least 39%, while increasing Social Security taxes on those with higher incomes by completely removing the payroll cap. That means many entrepreneurs would be paying 12.4% (6.2% on employer and 6.2% on employee) on Social Security payroll taxes alone, plus the 2.9% on Medicare taxes, for a total federal tax rate of 54%.

In addition, Obama wants to jack up the capital-gains tax rate and reinstate the death tax. …”

“…However, Obama writes sympathetically of a comrade of his father, Oginga Odinga, who stepped down as vice president and tried to start his own party. He too was angry that President Kenyatta was letting private investors buy up businesses and land “that should be redistributed to the people,” Obama said.

By 1967, two years after Obama Sr. penned his paper, Odinga had been placed under house arrest for holding a rally that turned into a riot.

Like Obama’s father, Odinga was a member of the Luo tribe of Kenya. His son, Raila Odinga, ran for president in 2006. That year, Obama traveled to Kenya and appeared with Odinga at rallies where he criticized the pro-U.S. government Odinga wanted to oust.

When he lost the election the next year, despite Obama’s tacit endorsement, angry Odinga supporters crying fraud sparked riots that resulted in some 1,500 deaths. Amid his ancestral country’s civil unrest, Obama took time out from the campaign trail to phone Odinga to voice his support.

After weeks of violence, Odinga was granted a power-sharing deal. He’s now acting prime minister.

He’s also a something of a communist like his father. An East German-trained engineer, he named his oldest son after Fidel Castro. Paralleling him, Sen. Obama wants to open dialogue with Cuba and once proposed lifting the trade embargo.

The two sons have much in common. However, the son who would lead the U.S. learned from his father’s mistakes and keeps his “mouth shut.” Obama learned that revealing his real beliefs can jeopardize his quest for the power needed to put his “redistribution” plans into action.”

http://www.investors.com/editorial/editorialcontent.asp?secid=1501&status=article&id=303952499910291

 

 obama-odinga cousins?


 

Barack Obama – Kenya – Odinga – Obama Nation

Kenyans clash over election results – 03 Jan 08

Al Jazeera interviews Raila Odinga – 11 Jan 08

 

Obama’s Kenyan Roots

http://www.youtube.com/watch?v=UreJZMY_2IY 

Barack Obama & Friends Sean Hannity Special

 

Barack Obama & Friends Sean Hannity Special Part 2

 

Barack Obama & Friends Sean Hannity Special Part 3 

 

Barack Obama & Friends Sean Hannity Special Part 4

 

Barack Obama & Friends Sean Hannity Special Part 5

 

Barack Obama & Friends Sean Hannity Special Part 6

 

Ayers’ Weathermen planned “re-education”, genocide

 

 

Raila Odinga

Raila Amollo Odinga (born January 7, 1945) is a Kenyan politician, currently serving as the Prime Minister of Kenya with president Mwai Kibaki in a coalition government. He has served as a Member of Parliament for Langata since 1992, was Minister of Energy from 2001 to 2002, and was Minister of Roads, Public Works and Housing from 2003 to 2005. He was the main opposition candidate in the disputed 2007 presidential election. Following a post-electoral crisis that resulted in the deaths of 1,500 people and the displacement of 600,000 more, Odinga took office as Prime Minister, at the head of a national unity government, in April 2008.

Odinga is the son of the first Vice President of Kenya, Jaramogi Oginga Odinga; his brother, Oburu Odinga, is also currently an MP. Raila is commonly known by his first name due to coincidence: he was an MP at the same time as his father between 1992 and 1994, and is currently in the House with Oburu. Raila was a presidential contender in the 1997 elections, coming third after President Daniel arap Moi of KANU and Mwai Kibaki now the current president of Kenya but then a member of the Democratic Party. Odinga campaigned to run for president in the December 2007 elections on an Orange Democratic Movement (ODM) ticket. …” 

“…According his website, Raila lists himself as a social democrat,[20] thus distancing himself from his late father, who was openly socialist. His party, the LDP, is affiliated to the Liberal International.

Raila Odinga gets noticeable support from all over the country, especially among third largest ethnic base in Kenya, the Luo. He is seen as an effective mobilizer of grassroots support.

Further to this, there have been recent calls from the Minister of Justice and Constitutional Affairs, Martha Karua, for Raila to answer allegations regarding impropriety in the purchase and subsequent sale of land on the Kisumu Molasses Plant.[21]

“…Raila Odinga is of the Anglican faith[24] and is married to Ida Odinga (born Ida Anyango Oyoo). They live in Nairobi (but has a second home in Bondo District) with their four children—two sons and two daughters. His oldest son, Fidel, is named after Fidel Castro[25] and their youngest child, Winnie, is named after Winnie Mandela.[25]

In a January 2008 interview, Odinga suggested that he was the first cousin of American Senator and presidential candidate Barack Obama through Senator Obama’s father.[26] However, Barack Obama’s paternal uncle Said Obama has denied any direct relation to Odinga, stating “Odinga’s mother came from this area, so it is normal for us to talk about cousins. But he is not a blood relative.”[27] Obama’s father belonged to the same Luo tribe as Odinga. [26]

http://en.wikipedia.org/wiki/Raila_Odinga 

 TREASON: OBAMA’S TACIT SUPPORT FOR ODINGA’S VIOLENT OVERTHROW OF DEMOCRATICALLY ELECTED LEADER IN KENYA

By Pamela Geller on Atlas Shrugs

“…Jerome Corsi is back from Kenya and he confirms everything I have been reporting about Obama and Odinga since January 2008. Obama supported a vicious killer to overthrow the duly elected President of Kenya. The  Odinga strategy exploited “anti-Kikuyu sentiments,”  clearly a racial strategy aimed at inflaming long-standing tribal animosity to gain electoral advantage for Odinga”.

Why would Obama support the exploitation of ethnic violence and murder? To further his own Obamaodinga career? To position himself to “save the day”? Isn’t this the same malevolent, anti-American, me-me-me subterfuge that Obama tried in Iraq? His private attempt to persuade Iraqi leaders to delay an agreement on a draw-down of the American military presence was sabotage, treason even. His objective was to keep our boys in Iraq until he became President so that he could position himself to take credit “for bringing our boys and girls  home” when he he was vehemently against the surge and advocated surrender and defeat in Iraq.This Mansourian candidate depends and wishes for, advocates for American failure.

This is the currency in which he trades – bad for America is good for Obama. …”

“…When Raila Odinga lost the presidential election last week (12/27) to Mwai Kibaki, he claimed the vote was rigged, whereupon his tribal followers went on murderous rampages such as in the town of Eldoret, where on New Years Day dozens of people were burned to death in a church set on fire.

Throughout Kenya, hundreds of people have been politically murdered in the last few days.

Kenya’s 37 million people are divided up into over three dozen tribes and sub-tribes, but the two dominant ones are Kikuyu and Luo.  Kenyan politics since independence in 1963 has essentially been a duke-out between them.

The father of Kenyan independence and president until 1978 was Jomo Kenyatta, a Kikuyu.  His main political opponent was Oginga Odinga, known as “OO,” a Luo and Raila’s father. 

While Kenyatta was pro-West and sided with America in the Cold War, OO was a Communist who was aided and supported by the Soviet Union.That’s why Raila went to school in East Germany (born in 1945, he graduated from Magdeburg University in 1970), and named his first-born son after Fidel Castro. …” 

http://atlasshrugs2000.typepad.com/atlas_shrugs/kenyas_killing_fields/ 

Politics of Kenya

“The Politics of Kenya take place in a framework of a presidential representative democratic republic, whereby the President of Kenya is both head of state and head of government, and of a multi-party system. Recent constitutional amendments have enabled sharing of executive powers between the President and a Prime Minister. Executive power is exercised by the government, with powers shared between the President and a Prime Minister, who coordinates and supervises the cabinet. Legislative power is vested in both the government and the National Assembly. The judiciary is independent of the executive and the legislature.

http://en.wikipedia.org/wiki/Politics_of_Kenya

The World Fact Book: Kenya

“…Mwai KIBAKI, running as the candidate of the multiethnic, united opposition group, the National Rainbow Coalition (NARC), defeated KANU candidate Uhuru KENYATTA and assumed the presidency following a campaign centered on an anticorruption platform. KIBAKI’s NARC coalition splintered in 2005 over the constitutional review process. Government defectors joined with KANU to form a new opposition coalition, the Orange Democratic Movement, which defeated the government’s draft constitution in a popular referendum in November 2005. KIBAKI’s reelection in December 2007 brought charges of vote rigging from ODM candidate Raila ODINGA and unleashed two months of violence in which as many as 1,500 people died. UN-sponsored talks in late February produced a powersharing accord bringing ODINGA into the government in the restored position of prime minister.

https://www.cia.gov/library/publications/the-world-factbook/geos/ke.html

The Obama Witch Project: RAAAAAAAAACISM!

By Michelle Malkin

“…Such paranoia is not limited to the fever swamps of the Internet. Earlier this week, the Associated Press disseminated an “analysis” accusing Palin of injecting a “racial tinge” into the campaign because she criticized Obama for his longtime relationship with Weather Underground terrorist Bill Ayers. Palin’s comments were completely unobjectionable: “This is not a man who sees America like you and I see America.”

I saw a vice presidential candidate drawing stark philosophical differences between two tickets. The AP saw Freddy Krueger with lipstick and a noose.

“Whether intended or not by the McCain campaign, portraying Obama as ‘not like us’ is another potential appeal to racism. It suggests that the Hawaiian-born Christian is, at heart, un-American,” the AP piece frothed.

Obama is half-black. Ayers is white. One of the Weather Underground’s victims was black police officer Waverly Brown of Nyack, New York. Where do I buy a pair of the super X-ray glasses that can detect the racism in Palin’s remarks about the Obama-Ayers alliance?

http://michellemalkin.com/2008/10/10/the-obama-witch-project-raaaaaaaaacism/

The Real Obama

Basic facts.

By Thomas Sowell

“…Associations are very different from alliances. Allies are not just people who happen to be where you are or who happen to be doing the same things you do. You choose allies deliberately for a reason. The kind of allies you choose says something about you.Jeremiah Wright, Father Michael Pfleger, William Ayers, and Antoin Rezko are not just people who happened to be at the same place at the same time as Barack Obama. They are people with whom he chose to ally himself for years, and with some of whom some serious money changed hands.

Some gave political support, and some gave financial support, to Obama’s election campaigns, and Obama in turn contributed either his own money or the taxpayers’ money to some of them. That is a familiar political alliance — but an alliance is not just an “association” from being at the same place at the same time.

Obama could have allied himself with all sorts of other people. But, time and again, he allied himself with people who openly expressed their hatred of America. No amount of flags on his campaign platforms this election year can change that.

Unfortunately, all that most people know about Barack Obama is his own rhetoric and that of his critics. Moreover, some of his more irresponsible critics have made wild accusations — that he is not an American citizen or that he is a Muslim, for example.

All that such false charges do is discredit Obama’s critics in general. Fortunately, there is a documented, factual account of what Barack Obama has actually been doing over the years, as distinguished from what he has been saying during this election campaign, in a new best-selling book.

That book is titled The Case Against Barack Obama by David Freddoso. He starts off in the introduction by repudiating those critics of Obama who “have been content merely to slander him — to claim falsely that he refuses to salute the U.S. flag or was sworn into office on a Koran, or that he was born in a foreign country.”  …”

http://article.nationalreview.com/?q=ZmM1NzBkNGI4MGRkZjFmOTg4ZjU3ODVjNmE5ZGM0OGI

LOL

Red State Update: Bill Ayers

 

Related Posts On Pronk Palisades

1 Minute Voter Guide Video: Killer of American Dreams–Barack Obama–Radical Socialist

Obama–Ayers–Chicago Annenberg Challenge–ACORN–Radical Socialists–Terrorist Bombers–Videos

Outting Obama: Radical Racist Rabble Rouser Reader

Voters Beware: The Radical Rules of Saul Alinsky and Leftist Democrats

Obama–ACORN–CRA–Congress–Democratic Party–Fannie Mae–Freddie Mac–Bailout–Socialism– Just Say No!

ACORN–Association of Community Organizations for Reform Now–Obama’s Red Shirts

Barrack Obama’s Kansas Values–Killing Babies in Cold Blood?

Barack Obama: The First Previable Puppet Presidential Candidate!

Barack Obama–A Reader Not A Leader!

Barack Obama Cult? 

Barack Obama: A Watermelon Man–Green on The Outside–Red on The Inside

Barack Obama–Damaged Goods–Birds of A Feather Flock Together

Obama Bombs Bailout Meeting–Whitehouse Still Standing–McCain Saved By House Republicans

Stop The Bailout: The American Elites’ Bum Rush of The American People–No Sale!

Unconstrained Obama vs. Constrained McCain: A Conflict of Vision

Obama and McCain–Socialism and Appeasement!

Senator Obama: The Experience Challenged Candidate of Change

 

Comrade Barack Obama–Arrogant Elitist Socialist–US Job Destroyer and Economy Wrecker

Obama: Pump Up Your Tires–Main Stream Media: Pumps Up Obama

Identity Politics: Blacks, Lesbians, Gays, Bisexuals and Transsexuals for Obama? 

2008 Presidential Choice: Leader or Diletant–McCain or Obama

Conservative Turnout Will Determine the Outcome of The Presidential 2008 Race Between McCain vs. Obama

The 2008 U.S. Presidential Election–Wedge Issues Now (WIN)?

The American People: Start Drilling and Control The Border. When? Now!

The Issue of The United States 2008 Presidential Election–Criminal Alien Removal (CAR) and A Border Security Fence (BSF)

Clear, Hold, Build– Strategy for Victory In Iraq–Now Ready for Prime Time in America– Operation Criminal Alien Removal (CAR)!

Appeasers and Oath Breakers All: Bush, Clinton, Bush, McCain, Clinton, Obama…Who is next?

Why immigration will be the number 1 political issue in the 2008 Presidential Election! — Gum Balls

Presidential Candidates on Illegal Immigration, Criminal Alien Removal and Social Service Benefits

The Cost of Comprehensive Immigration Reform–McCain and Obama Are Hopeless–It is the Economy Stupid!

Presidential Election 2008: American Elites Vs. American People

Alan Keyes on Immigration

US Immigration Videos   

 

Clinton’s Cap and Trade Tax on The American People for Consuming Electricity and Driving Cars, SUVs and Trucks!

Facing Fundamental Facts

Presidential Election 2008: American Elites Vs. American People

Let Them Eat Cake Act: American Elites Killing and Starving The American People 

 

Read Full Post | Make a Comment ( 12 so far )

Obama–ACORN–CRA–Congress–Democratic Party–Fannie Mae–Freddie Mac–Bailout–Socialism– Just Say No!

Posted on September 23, 2008. Filed under: Blogroll, Economics, Investments, Links, Music, People, Politics, Rants, Raves, Regulations, Resources, Taxes, Video, War | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , |

For What It’s Worth – Buffalo Springfield

 

Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis

 

Explosive Video, Fannie Mae CEO calling Obama and the Dems the “Family” and “Conscience” of Fannie Mae

OBAMA CAUGHT SAYING ACORN AND FRIENDS WILL SHAPE HIS PRESIDENTIAL AGENDA

EVIDENCE FOUND!!! Clinton administration’s “BANK AFFIRMATIVE ACTION” They forced banks to make BAD LOANS and ACORN and Obama’s tie to all of it!!!

 

Jim Rogers Speaks the Truth about Fannie Mae and Freddie Mac

 

Jim Rogers: Socialism for the Rich.

 

Reaction To Fannie Mae, Freddie Mac Rescue Plan

 

Will Congress Pass Bailout Plan?

 

Kevin Phillips on Bill Moyers – Economic crash 2008 (3/3)


 

Wall Streets Day of Reckoning: Turmoil in the Global Market

 

Dollar Collapse – Chicken Little Was Right – Goodbye Dollar

 

The American people are outraged by the corruption in Washington.

The American people are opposed to any bailout of Fannie Mae, Fannie Mac, AIG, investment, commerical, security and mortage bankers that profited from the home subprime mortgage scam –the crime of the century. 

The American people want the politicians of either party that aided and abetted this crime to be exposed for what they are–corrupt criminals that should not be in Congress nor the Whitehouse but in prison.

The Democratic Party fought against more regulation and oversight for both Fannie Mae and Freddie Mac recommended and proposed by both President Bush and Senator McCain.

The Democratic Party insisted and required by law, the Community Reinvestment Act, that banks make loans to people that were clearly unqualified to receive them.

The Democratic Party made sure that the executives running both Fannie Mae and Freddie Mac supported their efforts to fund undocumented loans for home mortages.

The Democratic Party is responsible for starting this crisis by their meddling and government intervention in the mortage market.

The former executives who ran both Fannie Mae and Freddie Mac should be in prison and not advising Barack Obama.

Reform yes. Cover up no!

Prison yes. Bailout no! 

Only you can prevent socialism in America! 

 Ron Paul Blasts Secret Government Running Economy


 

 Background Articles and Videos

 

http://townhall.com/columnists/ThomasSowell/2008/10/03/do_facts_matter

Do Facts Matter?

by Thomas Sowell

 

“…The current financial bailout crisis has propelled Barack Obama back into a substantial lead over John McCain– which is astonishing in view of which man and which party has had the most to do with bringing on this crisis.

It raises the question: Do facts matter? Or is Obama’s rhetoric and the media’s spin enough to make facts irrelevant?

Fact Number One: It was liberal Democrats, led by Senator Christopher Dodd and Congressman Barney Frank, who for years– including the present year– denied that Fannie Mae and Freddie Mac were taking big risks that could lead to a financial crisis.

It was Senator Dodd, Congressman Frank and other liberal Democrats who for years refused requests from the Bush administration to set up an agency to regulate Fannie Mae and Freddie Mac.

It was liberal Democrats, again led by Dodd and Frank, who for years pushed for Fannie Mae and Freddie Mac to go even further in promoting subprime mortgage loans, which are at the heart of today’s financial crisis.

Alan Greenspan warned them four years ago. So did the Chairman of the Council of Economic Advisers to the President. So did Bush’s Secretary of the Treasury, five years ago.

Yet, today, what are we hearing? That it was the Bush administration “right-wing ideology” of “de-regulation” that set the stage for the financial crisis. Do facts matter?  …”

 

 

Bank Mess Started With Gov’t Intervention

By THOMAS SOWELL

“…Blaming the lenders is the party line of congressional Democrats as well. What we need is more government regulation of lenders, they say, to protect the innocent borrowers from “predatory” lending practices.

Before going further down that road, it may be useful to look back at what got us into this mess in the first place.

It was not that many years ago when there was moral outrage ringing throughout the media because lenders were reluctant to lend in certain neighborhoods and because banks did not approve mortgage loan applications from blacks as often as they approved mortgage loan applications from whites.

All this was an opening salvo in a campaign to get Congress to pass laws forcing lenders to lend to people they would not otherwise lend to and in places where they would not otherwise put their money.

Banks’ Dilemma

The practice of not lending in some neighborhoods was demonized as “redlining” and the fact that minority applicants were approved for mortgages only 72% of the time, while whites were approved 89%, was called “overwhelming” evidence of discrimination by the Washington Post. …”

“…Laws and regulations pressured lending institutions to lend to people that they were not lending to, given the economic realities.

Forced Lending

The Community Reinvestment Act forced them to lend in places where they didn’t want to send money, and where neither they nor politicians wanted to walk.

Now that this whole situation has blown up in everybody’s face, the government intervention that brought on this disaster in is supposed to save the day.

Politics is largely the process of taking credit and putting the blame on others — regardless of what the facts may be. Politicians get away with this to the extent that we gullibly accept their words and look to them as political messiahs.”

http://www.ibdeditorials.com/IBDArticles.aspx?id=301532605156669

 

Inside Obama’s Acorn
By their fruits ye shall know them.

By Stanley Kurtz

“What if Barack Obama’s most important radical connection has been hiding in plain sight all along? Obama has had an intimate and long-term association with the Association of Community Organizations for Reform Now (Acorn), the largest radical group in America. If I told you Obama had close ties with MoveOn.org or Code Pink, you’d know what I was talking about. Acorn is at least as radical as these better-known groups, arguably more so. Yet because Acorn works locally, in carefully selected urban areas, its national profile is lower. Acorn likes it that way. And so, I’d wager, does Barack Obama.

This is a story we’ve largely missed. While Obama’s Acorn connection has not gone entirely unreported, its depth, extent, and significance have been poorly understood. Typically, media background pieces note that, on behalf of Acorn, Obama and a team of Chicago attorneys won a 1995 suit forcing the state of Illinois to implement the federal “motor-voter” bill. In fact, Obama’s Acorn connection is far more extensive. In the few stories where Obama’s role as an Acorn “leadership trainer” is noted, or his seats on the boards of foundations that may have supported Acorn are discussed, there is little follow-up. Even these more extensive reports miss many aspects of Obama’s ties to Acorn. …”

http://article.nationalreview.com/?q=NDZiMjkwMDczZWI5ODdjOWYxZTIzZGIyNzEyMjE0ODI=&w=MA==

 

Association of Community Organizations for Reform Now 

ACORN, the Association of Community Organizations for Reform Now, a community organization of low- and moderate-income families that addresses housing, schools, neighborhood safety, health care, job conditions, and other social issues that affect its members. With a membership of over 350,000, ACORN is organized into more than 850 neighborhood chapters in over 100 cities across the United States, as well as in Argentina, Canada, Mexico, and Peru. The organization was born out of the American Civil Rights Movement. ACORN was founded in 1970 by Wade Rathke, George Wiley, and Gary Delgado.[1] Maude Hurd has been National President of ACORN since 1990.

ACORN groups work through direct action, negotiations, and with public officials.

http://en.wikipedia.org/wiki/Association_of_Community_Organizations_for_Reform_Now

 

ACORN

 

ACORN, the Association of Community Organizations for Reform Now, is the nation’s largest community organization of low- and moderate-income families, working together for social justice and stronger communities.

http://www.acorn.org/

OBAMA’S ACORN EXPOSED PART 1 OF 2

 

OBAMA’S ACORN EXPOSED PART 2 OF 2

 

Rep. Waters Speaks About Obama at ACORN

 

What is a Community Organizer?

 

Lou Dobbs – Electoral Fraud Threat to Democracy

 

Obama complicit in voter fraud? — Obama’s ACORN connection

 

Acorn / Voter Fraud / Obama and Community Organizers

 

More ACORN Allegations

 

ACORN Vote Fraud

 

Representative from ACORN

 

ACORN Convention Member Speak Out

 

ACORN National Convention 2008, Detroit

 

ACORN Grassroots Democracy Campaign

 

Advocacy Group Partners With Countrywide

 

Shocking!—Democrats Trying to Give Bailout Money to Obama’s Owner ACORN


 

Community Reinvestment Act   

“The Community Reinvestment Act (or CRA, Pub.L. 95-128, title VIII, 91 Stat. 1147, 12 U.S.C. § 2901 et seq.) is a United States federal law that requires banks and thrifts to offer credit throughout their entire market area and prohibits them from targeting only wealthier neighborhoods with their services, a practice known as “redlining.” The purpose of the CRA is to provide credit, including home ownership opportunities to underserved populations and commercial loans to small businesses. It has been subjected to important regulatory revisions. …” 

“…Criticism 

“…Critics claim that government policy encouraged risky lending[7] and the development of the subprime debacle through legislation like the CRA. Economics professor Stan Liebowitz writes that banks were forced to loan to un-credit worthy consumers with “no verification of income or assets; little consideration of the applicant’s ability to make payments; no down payment.” The chief executive of Countrywide Financial, the nation’s largest mortgage lender, is said to have “bragged” that to approve minority applications “lenders have had to stretch the rules a bit.”[8] Robert Gordon of the Center for American Progress disagrees, and quotes statistics that he claims show “independent mortgage companies, which are not covered by CRA, made high-priced loans at more than twice the rate of the banks and thrifts.” He faults then-Federal Reserve chair Alan Greenspan for “cheering the subprime boom” in the banking industry.[9] Economics professor Thomas DiLorenzo counters Gordon, stating that independent mortgage companies are “middlemen” between banks, including those regulated by the CRA, and consumers and that in any case the CRA had caused tens of billions in defaults on mortgages by unqualified borrowers.[10] Economist Yaron Brook concluded succinctly, “The Government Did It:” through the stick of the CRA [and] the carrot of Fannie Mae and Freddie Mac, the fed created the mortgage market debacle. [11] …” 

 http://en.wikipedia.org/wiki/Community_Reinvestment_Act

 

Subprime Pols

 

Government has been the principal factor preventing the “affordable housing” that politicians talk about so much.

By Thomas Sowell 

“…In short, government has been the principal factor preventing the “affordable housing” that politicians talk about so much.Politicians have also been a key factor behind pushing lenders to lend to borrowers with lower prospects of being able to repay their loans.The Community Reinvestment Act lets politicians pressure lenders to lend to people they might not lend to otherwise — and the same politicians are quick to cry “exploitation” when the interest charged to high-risk borrowers reflects that risk.

 

The huge losses of sub-prime lenders, some of whom have gone bankrupt, demonstrate again the consequences of letting politicians try to micromanage the economy.

Yet with all the fingerpointing in the media and in government, seldom is a finger pointed at the politicians at local, state, and national levels who have played a key role in setting up the conditions that led to financial disasters for individual home buyers and for those who lent to them.

While financial markets are painfully adjusting and both lenders and borrowers are becoming less likely to take on so much risky “creative” financing in the future, politicians show no sign of changing.

Why should they, when they have largely escaped blame for the disasters that their policies fostered? …”

http://article.nationalreview.com/?q=YjgwYzI4Njg3OWMxOGUzYmY0ZDMwYzYwNzkzYjc1NDI=

 

The Right Stuff…

By INVESTOR’S BUSINESS DAILY | Posted Friday, September 19, 2008 4:20 PM PT

Subprime Crisis: President Bush’s financial team is now proving its mettle — and its expertise. Led by Treasury Secretary Henry Paulson, it crafted a reasonable, workable response to the subprime meltdown.

“…Like so many others, we believe that government should largely remove itself from functioning markets. But in a case such as this, where a market has been seriously damaged due to regulatory excess, an obligation exists to help undo the damage.

That’s the case now with the subprime crisis and housing collapse, both largely due to decades of congressional incompetence.

With world credit markets seized up and little to show for piecemeal U.S. efforts to deal with the growing financial panic, Paulson and others on the Bush financial team late last week shifted course, crafting a systematic answer to the markets’ meltdown.

This was leadership writ large. Paulson spent decades on Wall Street as a trader and top executive at one of its flagship firms, Goldman Sachs, and his experience and market wisdom showed.

His controversial decision to create a new financial entity, modeled broadly on the 1980s-era Resolution Trust Corp., may just spell an end to this financial crisis. Congress, which has mostly sat on the sidelines during this crisis, should approve it right away.

Unlike the RTC, which owned actual properties, the new agency that Paulson’s Treasury is creating will buy up the impaired mortgage-backed securities and hold them for resale when the market turns favorable again.

For ailing financial markets, this was welcome tonic. At this point they care less about details of the agency than limiting the contagion of the subprime crisis so it will no longer contaminate global banks and investors’ balance sheets. Mission accomplished. …”

http://www.ibdeditorials.com/IBDArticles.aspx?id=306716096379423

 

Dispelling The ‘Deregulation’ Myth

By INVESTOR’S BUSINESS DAILY | Posted Friday, September 19, 2008 4:20 PM PT

Politics: A dubious and dangerous idea seems to be gaining strength — that government caused the financial crisis by giving capitalism free rein. If anything, it hasn’t done enough of that.

“So why did banks and investment houses get into so much trouble? It will take a long and exhaustive post-mortem to answer that question fully, but one point is already clear: They made mistakes that had nothing to do with the 1999 law.

Commercial banks threw lending standards out the window in their rush to get new business. Like S&Ls of the 1980s, they would have gone wild without Gramm-Leach-Bliley. Washington, if anything, egged them on, but not because of free-market dogma. Banks and mortgage brokers were pumping up the homeownership numbers in America, and politicians were eager to take credit for that.

Wall Street, meanwhile, became a victim of its own innovation. It created new classes of derivative investments that spread — and, through leverage, amplified — the risk from the subprime mortgages produced by the banks. A new multitrillion-dollar market emerged almost overnight, lacking in transparency and reliable price signals. With their asset values in doubt, investment banks lurched toward insolvency.

If regulators failed here, it wasn’t because of policies adopted years before. It was more of the same story that has played itself out over and over in modern finance: Innovation races ahead of the rules. Crises tend to take almost everyone by surprise — including the major players as well as the regulators.

Careful study in the aftermath can lead to smart policies that cushion the blows of future shocks, but it doesn’t prevent them entirely. Nor should it. Capitalism needs some room for trial and error, bringing out new ideas and testing them in adversity.

In this respect, Gramm-Leach-Bliley has turned out to be smart policy indeed. By repealing the rule against banks owning investment firms, it has led to at least two crucial mergers — JPMorgan Chase absorbing Bear Stearns and Bank of America merging with Merrill Lynch. Morgan Stanley may be the next investment house to find shelter in a well-capitalized commercial bank.

You can spot the theme here: By taking down an outmoded firewall, the law is helping the financial industry cope with a once-in-a-lifetime crisis. Far from being the cause, this instance of deregulation, or whatever you call it, is part of the cure.”

http://www.ibdeditorials.com/IBDArticles.aspx?id=306716557967194

 

Congress Lies Low To Avoid Bailout Blame

INVESTOR’S BUSINESS DAILY

Posted 9/18/2008

“…Until now, Congress has been surprisingly passive. As Sen. Majority Leader Harry Reid put it, “no one knows what to do” right now.

Funny, since it was a Democrat-led Congress that helped cause the problems in the first place.

When House Speaker Nancy Pelosi recently barked “no” at reporters for daring to ask if Democrats deserved any blame for the meltdown, you saw denial in action.

Pelosi and her followers would have you believe this all happened because of President Bush and his loyal Senate lapdog, John McCain. Or that big, bad predatory Wall Street banks deserve all the blame.

“The American people are not protected from the risk-taking and the greed of these financial institutions,” Pelosi said recently, as she vowed congressional hearings.

Only one problem: It’s untrue.

Yes, banks did overleverage and take risks they shouldn’t have.

But the fact is, President Bush in 2003 tried desperately to stop Fannie Mae and Freddie Mac from metastasizing into the problem they have since become.

Here’s the lead of a New York Times story on Sept. 11, 2003: “The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.”

Bush tried to act. Who stopped him? Congress, especially Democrats with their deep financial and patronage ties to the two government-sponsored enterprises, Fannie and Freddie. …”

“…In the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.

Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resale on the open market.

That’s how the contagion began.

With those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008.

Wall Street eagerly sold the new mortgage-backed securities. Not only were they pooled investments, mixing good and bad, but they were backed with the implicit guarantee of government.

Fannie Mae and Freddie Mac grew to become monsters, accounting for nearly half of all U.S. mortgage loans. At the time of their bailouts this month, they held $5.4 trillion in loans on their books. About $1.4 trillion of those were subprime.

As they grew, Fannie and Freddie grew heavily involved in “community development,” giving money to local housing rights groups and “empowering” the groups, such as ACORN, for whom Barack Obama once worked in Chicago.

Warning signals were everywhere. Yet at every turn, Democrats in Congress halted attempts to stop the madness. It happened in 1992, again in 2000, in 2003 and in 2005. It may happen this year, too.

Since 1989, Fannie and Freddie have spent an estimated $140 million on lobbying Washington. They contributed millions to politicians, mostly Democrats, including Senator Chris Dodd (No. 1 recipient) and Barack Obama (No. 3 recipient, despite only three years in office).

The Clinton White House used Fannie and Freddie as a patronage job bank. Former executives and board members read like a who’s who of the Clinton-era Democratic Party, including Franklin Raines, Jamie Gorelick, Jim Johnson and current Rep. Rahm Emanuel.

Collectively, they and others made well more than $100 million from Fannie and Freddie, whose books were cooked Enron-style during the late 1990s and early 2000s to ensure executives got their massive bonuses.

They got the bonuses. You get the bill.”

http://www.investors.com/editorial/IBDArticles.asp?artsec=16&artnum=1&issue=20080918

 

Analysis: Washington’s Trillion Dollar Wall Street Bailout

James Pethokoukis

“…Is a bailout necessary?
Look, the financial system probably couldn’t take another week like the one we just went through. Stocks plunging, credit markets freezing. As economist Robert Brusca puts it, “The proposed US government rescue plan comes at the end of a week of almost unprecedented turmoil on world financial markets amid a crisis of confidence in banks.”

The government had to get ahead of the curve and quit reacting on a case-by-case basis. If you look at banking crises in Japan and Sweden, for instance, all roads eventually led to a government bailout with taxpayer money at risk. The rule in these cases seems to be the sooner, the better. If you want more evidence, markets around the world and here in the United States are soaring on this news. Strategist Richard Bernstein of Merrill Lynch, in a research note, says the bailout plan is “an opportunity for the government to solve the on-going problems through one system-wide solution.” …”

“…As long as we have markets and humans there will be bubbles, whether in stocks, homes, Beanie Babies, tulips, or whatever. But as far as the housing/credit bubbles go, I think it could have been avoided. Alan Greenspan cut rates too low and left them there for too long, creating an extreme financial situation that Wall Street tried to profit from. Uncle Sam also fed into that market distortion by making greater homeownership a national goal, using both tax policy and the regulation like the Community Reinvestment Act to, essentially, push capital into homes. And were regulators as tough as they could have been? Obviously not. …”

http://www.usnews.com/blogs/capital-commerce/2008/9/19/analysis-washingtons-trillion-dollar-wall-street-bailout.html

 

More on the diversity racket and the home loan debacle

By Michelle Malkin  

 

“…Referencing my column yesterday on illegal immigration and the mortgage mess, Hans Bader at Open Market shares his experience. I’ve been getting a lot of e-mails with similar stories. Tip of the iceberg:

When I and my wife, a legal alien, bought our house, the mortgage company told me that if my wife were an illegal alien, rather than legal, we would have qualified for certain loan programs with big banks. But because she was a legal alien waiting for her green-card (which she had recently applied for), we didn’t qualify.

Mark Krikorian, an activist against illegal immigration, argues that “we’re in this mess, ultimately, because our political elites thought it was good social policy to encourage banks to give mortgages to uncreditworthy people, resulting in what Sailer months ago called the “Diversity Recession” (if this doesn’t work, make that the Diversity Depression). In other words, if poor people in general, or blacks or Hispanics in particular, were less likely to be approved for a mortgage, the only possible reason was racism or classism or whatever. Thus ‘creditworthiness’ was an illegitimate, dead-white-male concept, like middleclassness. Because, after all, isn’t everyone entitled to credit?” …”

 

The Mother of All Bailouts = The Death of Fiscal Conservatism 

“…Bush Treasury Secretary Hank Paulson just wrapped up his press conference announcing the Mother of All Bailouts. He said a “bold” approach was needed to achieve “stability” in the market.

Let me translate that.

“Bold” = Massively massive, taxpayer-funded rescue.

“Stability” = Privatizing profits and socializing losses on a scale we have never seen before in our lifetimes.

I have had it with Pollyanna conservatives who continue to parrot the “fundamentals of the market are great!” line.

The fundamentals of the market suck. The fundamentals of capitalism have been sabotaged.

Yes, yes, crony Democrats are to blame for much of how we got here. You don’t need to recite all the talking points back to me. I’ve been writing about the Fannie/Freddie debacle for years.

But it is September 19, 2008. And this is a Republican White House presiding over the Mother of All Bailouts. Every step along the way since stimuluspalooza began last summer, we’ve heard that every bailout step was just a one-off. Each step was supposed to calm the markets. Each new government intervention and allocation of taxpayer dollars was supposed to achieve “stability.” Each new package of goodies rewarding irresponsible behavior and bad financial decisions was supposed to prevent new ones. …”

http://michellemalkin.com/2008/09/19/the-mother-of-all-bailouts-the-death-of-fiscal-conservatism/

Chain of Blame: How Wall Street Caused the Mortgage Crisis.

 

Deconstructing the Subprime Crisis

 

Joseph Gyourko on Fannie, Freddie, and the Housing Bust

 

Franklin Allen on Past Crises

 

Franklin Allen on Lessons from the Subprime Crisis

 

Jeremy Siegel on the Resilience of American Finance

 

Richard Herring on Mortgage-backed Securities

Susan Wachter on Securitizations and Deregulation

 

Wall Street’s Day of Reckoning: The Fannie & Freddie Bailout

 

Housing Bailout For Deadbeats Gamblers Liars Thieves

 

 

Part 1 – Exposing Fannie Mae and Freddie Mac: Origins

New York Investing meetup organizer Daryl Montgomery discusses the origins of Fannie Mae and Freddie Mac in the first episode of a multi-part series. The New York Investing meetup is an organization of 1800 independent traders and investors that provides unbiased stock market education and analysis. We also have a blog,”The Helicopter Economics Investing Guide” which can be found at:

http://nyinvestingmeetup.blogspot.com

 

Part 2 – Exposing Fannie Mae and Freddie Mac: Origins

 

Part 3 – Exposing Fannie Mae and Freddie Mac: Origins

 

Part 4 – Exposing Fannie Mae and Freddie Mac: Origins

 

Part 5 – Exposing Fannie Mae and Freddie Mac: Origins

 

The Big Lie – The U.S. GDP Figures

 

Patrick Byrne and Don Harrold – Part One

 

Patrick Byrne and Don Harrold – Part Two

 

Patrick Byrne on Naked Short Selling

 

Bud Burrell on FSN about short selling, hedgefunds …P1

 

Bud Burrell on FSN about short selling, hedgefunds …P2

 

Bud Burrell on FSN about short selling, hedgefunds …P3

 

Bud Burrell on FSN about short selling, hedgefunds …P4

 

Bud Burrell on FSN about short selling, hedgefunds …P5

 

Bud Burrell on FSN about short selling, hedgefunds …P6

 

Rush On Franklin Raines

 

Hey Barack, Who’s Franklin Raines

 

LOL

Solution to Our Economic Problems…

 

Fannie Mae, Freddie Mac and Bill Clinton… 

 

Barack Obama is a freaking Socialist…

 

 Related Posts On Pronk Palisades

 

Senator McCain Takes Cheap Shot At Securities And Exchange Commission (SEC) Chairman Chris Cox

New Poll: McCain/Palin Will Win 50 States!–Obama/Biden Will Win 57 States?

Sweet Sarah Palin Knocks Out Bitter Barack Obama

Knight of Faith Sarah Palin vs. Knight of Infinity Barack Obama

Presidential Election 2008: American Elites Vs. American People

Let Them Eat Cake Act: American Elites Killing and Starving The American People

Saving The World: The Importance of Getting The Priorities Right

McCain: Cut–Drill–Victory vs. Obama: Increase–Talk–End 

Read Full Post | Make a Comment ( 67 so far )

Liked it here?
Why not try sites on the blogroll...