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New Study Confirms Economy Was Destroyed by Dem Policies
Posted By Robert Moon On April 4, 2013 @ 12:43 am In Daily Mailer,FrontPage | 40 Comments
This article first appeared at Examiner.com .
A new study  from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing  market (the Community Reinvestment Act –enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy .
The study painstakingly sorted through failed home loans  that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.
Again, let’s review:
-President Bush went  to Congress repeatedly for years warning them that Fannie Mae  and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats  continuously ignored him, shut down his proposals along party lines and continued raiding  the institutions for campaign contributions on their way down.
-John McCain also co-sponsored  urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly ridiculed  anyone who suggested reforms were necessary…to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.
-No one was making bad loans  to unqualified people until Democrats came along and threatened  to drag banks into court and have them fined and branded as racists if they didn’t go along with the left’s Affirmative Action lending policies…all while federally insuring their losses. Even the New York Times warned  in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.
-Obama himself is even on the record personally helping sue one lender (Citibank) into lowering its lending standards to include people from extremely poor and unstable areas, which even one of the left’s favorite blatantly partisan “fact-checkers,” Snopes, admits  (while pretending to ‘set the record straight’).
-Even The New York Times admitted  that there is “little evidence” of any connection between the “Republican” deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.
But non-Fox media have spent years deliberately and relentlessly inoculating people against the facts, training them to mindlessly blame Bush for being in charge when Democrat policies destroyed the economy. So here we sit, to this day, still watching Obama excuse and shrug off endless economic failures, illegal government takeovers and utter national bankruptcy  with zero accountability.
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URLs in this post:
 Image: http://frontpagemag.com/2013/robert-moon/new-study-confirms-economy-was-destroyed-by-democrat-policies/obama-reid-pelosi-3/
 Examiner.com: http://www.examiner.com/
 study: http://news.investors.com/ibd-editorials-perspective/122012-637924-faults-community-reinvestment-act-cra-mortgage-defaults.htm?p=full
 housing: http://www.examiner.com/topic/housing
 Community Reinvestment Act: http://news.investors.com/ibd-editorials/032911-567464-community-reinvestment-act-separating-fact-from-fiction.htm?p=full
 economy: http://www.examiner.com/topic/economy
 home loans: http://www.examiner.com/article/new-study-confirms-economy-was-destroyed-by-democrat-policies#
 went: http://www.thegatewaypundit.com/2008/09/bush-called-for-reform-of-fannie-mae/
 Fannie Mae: http://www.examiner.com/topic/fannie-mae
 Democrats: http://www.examiner.com/topic/democrats
 raiding: http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html
 co-sponsored: http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/
 ridiculed: http://www.youtube.com/watch?v=IyqYY72PeRM
 threatened: http://news.investors.com/071009-481955-truth-in-lending.aspx
 warned: http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html
 admits: http://www.snopes.com/politics/obama/loans.asp
 admitted: http://www.nytimes.com/2008/09/29/business/29norris.html
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