This is just another example that socialism is a 150 year old economic failure and it is another example of OBAMA's FAILED economic policies. This failed economy began when the Democrats took over the congress, as they waged an unholy war against American business and the poor. Democrats can't fix the economic disaster that they created to take over the WhiteHouse. The liberal media demonstrates that they are just as inexperienced in reporting the facts as Barack Obama.
Obama cannot keep lying forever! He almost had us fooled. Obama's paid wordsmith's and bloggers will be next to lose their jobs. Why? Because Obama realizes that they failed to hype the public to ignorance and apathy about the economy.
Socialism is a 150 year old Economic Failure. Liberalism is social and economic failure.
How The Democrats Destroyed The Economy
You want the truth? You can't handle the truth! But here it is anyway. The economic crisis was caused by Democrats who FORCED banks to make loans to people from 1999 - 2008. So bankers, threatened by Acorn and the Federal Government, bundled up their risky loans and sold them off because the Government was forcing them to compromise their businesses.
Republicans held Congressional hearings to stop it, but were called "racist" by Democrats. Now the same Democrats appoint themselves "watchdogs" claiming a "lack of regulation" caused the problem, when it was BAD policies that they FORCED on the banks that caused the problem. Why did they wreck the housing market? Democrats wanted to buy votes from low income people by giving away free homes.
How the Democrats Betrayed America
So take your complaints to Barney Frank, Chris Dodd, Franklin Raines, Andrew Cuomo, Bill Clinton and Jimmy Carter. Carter was the author of the original shelved Community Reinvestment Act that Clinton brought back in the late 90's. And then all the other Democrats took the welfare plan to ridiculously extreme limits, as they always do. Listen to Bill Clinton's statement at the end of the following youtube video.
Here's a summary of how it began, according to the liberal publication, "The Village Voice":
How The Democrats Caused The Financial Crisis
Andrew Cuomo and Fannie and Freddie
"Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that-in combination with many other factors-helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why."
Watch this Time-line showing Bush and McCain warning Democrats of financial and housing crisis meltdown
How Social Security Was A Democrat Ponzi SCAM from the very Beginning
The Hidden Truth About Obamas Healthcare Takeover Part 1
The Hidden Truth About Obamas Healthcare Takeover Part 2