WhatFinger

Community Reinvestment Act, Jimmy Carter, Fannie Mae, Freddie Mac

Dems now say they need more money and power


By Jerry McConnell ——--January 27, 2009

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Online headline: US seizing of Iranian ship 'a covert op'” by Yaakov Lappin © 2009 Jerusalem Post, January 25, 2009 "There's been no good news," said Vice President Joe Biden on CBS' "Face the Nation," "and there's no good news on the immediate horizon."

Instead, the newly empowered party is asking for more time, money and power to attempt its fix on the nation's economic woes. Get it? More time, money and power. Those are the same criteria that the Congress used to get us into this mess. In his almost daily speeches, Obama reiterates that “we inherited this problem” but the problem started almost 30 years ago when Democrat President Jimmy Carter proposed, and the then Democrat Congress passed, the Community Reinvestment Act, the “feel-good Nanny-state” economic disaster that created Fannie Mae and Freddie Mac to make ultra-low interest loans (of your tax dollars) to minorities. Then along came Bubba “I feel your pain” Clinton, who not only continued these giveaways, but made them much easier to get by eliminating almost all barriers to qualification, while demanding that more banks issue these poor-risk loans assuring even more minorities would get them on greased skids. If the problem was inherited, as Obama claims, it was from those ancestors of his political party. After years of Republican efforts in Congress and public forums to reverse the easy trends for loans and apply more restrictions had failed, Democrat Senator Sherrod Brown of Ohio wildly announced that the “Chickens had come home to roost” with the obvious intent to falsely lay the blame on the current Republican administration. But, even though that was a lie, the public bought it and as their reward for trying to get some responsible regulation imposed on these free-handed loaning organizations, the gullible voters turned the Republicans, the only ones trying to get control, out of office in favor of the spendthrift liberal Democrats who unashamedly had also managed to milk these agencies for huge amounts of personal political donations, including then Senator B. Obama, Sen. Dodd, and Rep. Barney Frank. And here we are now being asked from these same people, for MORE time, money and power. Can you believe that? Seems as though for the past few years all the Democrats have been saying is that the Republicans are spending too much, give us more power and we’ll fix it. Yeah, they’re gonna fix it alright, just like they always fix things; with more taxes, more spending and more waste of time, materials and money. So for once Joe Biden says something that is factually correct and not twisted or jumbled or ‘borrowed’ as we normally expect from him: “… and there's no good news on the immediate horizon." You got that right Joe, unless we, the nation’s taxpayers give you more time, more money and more power. Isn’t that right? But why didn’t you tell us that BEFORE the elections Senator? Why did you and Mr. Obama promise to rescue us from all this financial disaster just by restoring your party to the White House? In plain words, Senator, you and Mr. Obama lied to us. All you wanted was a CHANGE in power so you could get more time and more money; that for which you are now seeking. How much more time and how much more money and how much more power do you think you will need Mr. Vice President? And this time, when you get these things, as I’m sure your stacked Congress will obediently provide, what guarantees will you give us, the people from whom you will be fleecing, that you will cure all the financial woes of the United States? Your party started this mess with many personally profiting and continuously refused to make corrections along the way, now you should ensure us that this time you will succeed. Just once wouldn’t it be refreshing for a political party to guarantee success for all the money they will take from us or when failing, resign and turn the reins over to others to drive us back to high ground? The only way it should be given is if the above guarantee is made – IN WRITING.

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Jerry McConnell——

Gerald A. “Jerry” McConnell, 92, of Hampton, died Sunday, February 19, 2017, at the Merrimack Valley Hospice House in Haverhill, Mass., surrounded by his loved ones. He was born May 27, 1924 in Altoona, Pa., the fifth son of the late John E. and Grace (Fletcher) McConnell.

Jerry served ten years with the US Marine Corps and participated in the landing against Japanese Army on Guadalcanal and another ten years with the US Air Force. After moving to Hampton in 1957 he started his community activities serving in many capacities.

 

He shared 72 years of marriage with his wife Betty P. (Hamilton) McConnell. In addition to his wife, family members include nieces and nephews.

 

McConnell’s e-book about Guadalcanal, “Our Survival was Open to the Gravest Doubts

 


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