Like this story from The Daily Caller:
With 1995 landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans
http://dailycaller.com/2012/09/03/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicagos-african-americans/#ixzz2qycNJHNc
I take a poll every 30-60 days (since early 2008) to see if awareness is growing re: Obama's big role in causing the banks to implode, taking down the global economies in the process. Sadly, the answer is no.
One of Obama's lies as he was campaigning to become POTUS was more or less this soundbite, repeated incessantly: "The Fat Cat Bankers and Greedy Wall Street investment banks were reckless and took down the economy." From March 2008 to the election in November 2008, Obama repeated this mantra at every single campaign stop he had as he criss-crossed the U.S. looking for votes. You see I worked on Wall Street, Merrill Lynch for the better part of 15 years and was quite involved in mortgage banking and securitization of those loans. When I saw the quality of these loans steadily and swiftly fall from AAA to A to BBB to B, and yet they were all being labeled and sold as AAA, I knew something was egregiously amiss and I became my own investigative reporter!
Where were all these subprime loans coming from?
Why were so many subprime loans being originated by banks and mortgage banks.
Why were the Ratings Agencies like Moody's and Standard & Poors still rating them as AAA?
Who was behind this growing charade?
My research led me to:
Peter J. Wallison, Sr Fellow of the American Enterprise Institute, who was writing numerous briefs for AEI that called out the reality that subprime mortgages were a house of cards and would eventually collapse the banking system.
And to:
Harvard Professor Howell Jackson and his testimony to the Senate Banking Committee in January 2002:
http://www.gpo.gov/fdsys/pkg/CHRG-107shrg84933/html/CHRG-107shrg84933.htm
and here
and to Neal Munro's article here:
http://dailycaller.com/2012/09/03/with-landmark-lawsuit-barack-obama-pushed-banks-to-give-subprime-loans-to-chicagos-african-americans/#ixzz2qycNJHNc
(Neal Munro is Tucker Carlson's researcher.)
#1 - so Obama was instrumental as a young lawyer in forcing banks to make a growing number of subprime loans and in forcing the banks to buy those loans in spite of not having the charters to buy anything but prime loans!
#2 - Obama has (so far) successfully implicated the banks and Wall Street investment banks as the reasons for the Financial Crisis when in fact he was one of the chief architects!
#3 - Peter J. Wallison pointed all this out his his many writings at www.aei.org
#4 - Howell Jackson went before a Senate Banking Committee in January 2002 and told them the bubble was building and that homebuyers were being ripped off with excessive (and illegal) fees in violations of all 50 states' usury laws, and the Senate Banking Committee buried this report!
NO ONE IS LISTENING BECAUSE OBAMA'S ARMY AND ALL THE DEMOCRATS ARE LOUDER THAN THE REST!
Follow all the links in this blog post. Read. Learn. Understand. And in November 2014, vote all the Liberal Idiots out of D.C and do it again in November 2016.
Ted Krager
