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	<title>FrontPage Magazine &#187; Robert Moon</title>
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		<title>New Study Confirms Economy Was Destroyed by Dem Policies</title>
		<link>http://www.frontpagemag.com/2013/robert-moon/new-study-confirms-economy-was-destroyed-by-democrat-policies/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=new-study-confirms-economy-was-destroyed-by-democrat-policies</link>
		<comments>http://www.frontpagemag.com/2013/robert-moon/new-study-confirms-economy-was-destroyed-by-democrat-policies/#comments</comments>
		<pubDate>Thu, 04 Apr 2013 04:43:52 +0000</pubDate>
		<dc:creator><![CDATA[Robert Moon]]></dc:creator>
				<category><![CDATA[Daily Mailer]]></category>
		<category><![CDATA[FrontPage]]></category>
		<category><![CDATA[Democrats]]></category>
		<category><![CDATA[destroy]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Left]]></category>
		<category><![CDATA[Obama]]></category>

		<guid isPermaLink="false">http://frontpagemag.com/?p=184190</guid>
		<description><![CDATA[And how Obama is repeating the disaster. ]]></description>
				<content:encoded><![CDATA[<p><a href="http://frontpagemag.com/2013/robert-moon/new-study-confirms-economy-was-destroyed-by-democrat-policies/obama-reid-pelosi-3/" rel="attachment wp-att-184260"><img class=" wp-image-184260 alignleft" title="obama-reid-pelosi" src="http://cdn.frontpagemag.com/wp-content/uploads/2013/04/obama-reid-pelosi.jpg" alt="" width="315" height="211" /></a><strong>This article first appeared at <a href="http://www.examiner.com/">Examiner.com</a>.</strong></p>
<p>A new <a href="http://news.investors.com/ibd-editorials-perspective/122012-637924-faults-community-reinvestment-act-cra-mortgage-defaults.htm?p=full" rel="nofollow">study</a> from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left&#8217;s race-baiting attacks on the <a href="http://www.examiner.com/topic/housing">housing</a> market (the <a href="http://news.investors.com/ibd-editorials/032911-567464-community-reinvestment-act-separating-fact-from-fiction.htm?p=full" rel="nofollow">Community Reinvestment Act</a>&#8211;enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the <a href="http://www.examiner.com/topic/economy">economy</a>.</p>
<p>The study painstakingly sorted through failed <a id="_GPLITA_1" title="Click to Continue &gt; by Text-Enhance" href="http://www.examiner.com/article/new-study-confirms-economy-was-destroyed-by-democrat-policies#">home loans</a> that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.</p>
<p>Again, let&#8217;s review:</p>
<p>-President Bush <a href="http://www.thegatewaypundit.com/2008/09/bush-called-for-reform-of-fannie-mae/" rel="nofollow">went</a> to Congress repeatedly for years warning them that <a href="http://www.examiner.com/topic/fannie-mae">Fannie Mae</a> and Freddie Mac were going to destroy the economy (17 times in 2008 alone). <a href="http://www.examiner.com/topic/democrats">Democrats</a> continuously ignored him, shut down his proposals along party lines and continued <a href="http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html" rel="nofollow">raiding</a> the institutions for campaign contributions on their way down.</p>
<p>-John McCain also <a href="http://hotair.com/archives/2008/09/17/mccains-attempt-to-fix-fannie-mae-freddie-mac-in-2005/" rel="nofollow">co-sponsored</a> urgently critical reforms that would have prevented the housing market collapse, but Democrats shut that down as well, along party lines, and even openly <a href="http://www.youtube.com/watch?v=IyqYY72PeRM" rel="nofollow">ridiculed</a> anyone who suggested reforms were necessary&#8230;to protect their taxpayer-funded campaign contributions as the economy raced uncontrollably toward the cliff.</p>
<p>-No one was making bad <a id="_GPLITA_2" title="Click to Continue &gt; by Text-Enhance" href="http://www.examiner.com/article/new-study-confirms-economy-was-destroyed-by-democrat-policies#">loans</a> to unqualified people until Democrats came along and <a href="http://news.investors.com/071009-481955-truth-in-lending.aspx" rel="nofollow">threatened</a> to drag banks into court and have them fined and branded as racists if they didn&#8217;t go along with the left&#8217;s Affirmative Action lending policies&#8230;all while federally insuring their losses. Even the New York Times <a href="http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html" rel="nofollow">warned</a> in the late 1990s that Democrats continuing to force banks into lowering their standards would lead to this exact catastrophe.</p>
<p>-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&#8217;s favorite blatantly partisan &#8220;fact-checkers,&#8221; Snopes, <a href="http://www.snopes.com/politics/obama/loans.asp" rel="nofollow">admits</a> (while pretending to &#8216;set the record straight&#8217;).</p>
<p>-Even The New York Times <a href="http://www.nytimes.com/2008/09/29/business/29norris.html" rel="nofollow">admitted</a> that there is &#8220;little evidence&#8221; of any connection between the &#8220;Republican&#8221; deregulation measures Obama blames, like the Gramm-Bleach-Liley Act (signed into law by a Democrat), and the collapse of the housing market.</p>
<p>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 <a id="_GPLITA_0" title="Click to Continue &gt; by Text-Enhance" href="http://www.examiner.com/article/new-study-confirms-economy-was-destroyed-by-democrat-policies#">bankruptcy</a> with zero accountability.</p>
<p><strong>Freedom Center pamphlets now available on Kindle: <a href="http://www.amazon.com/s/ref%3dnb_sb_noss?url=search-alias%3Ddigital-text&amp;field-keywords=david+horowitz&amp;rh=n:133140011%2ck:david+horowitz&amp;ajr=0#/ref=sr_st?keywords=david+horowitz&amp;qid=1316459840&amp;rh=n:133140011%2ck:david+horowitz&amp;sort=daterank" target="_blank">Click here</a>.  </strong></p>
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