Obama and the Financial Criminals

By Bernie Reeves

At least CBS's 60 Minutes is on to the national fury at the fact that the criminals who brought down the American economy have not been identified personally and brought before the bar of justice. But a week after a broadcast that bored in on the issue, interviewer Steve Croft let Barack Obama off the hook when the president disingenuously stated that the financial shenanigans by Fannie Mae, Freddie Mac, and banking firms were legal -- that his administration was instrumental in passing new regulations encompassed in the Dodd-Frank legislation to prevent it happening again. Wait a minute. It is now known that Fannie and Freddie, the government-connected mortgage-packaging giants, threw out the qualifications to allow home-ownership for all, an idealistic social goal pushed by Democrats -- from Jimmy Carter via the Community Reinvestment Act of 1977 to Bill Clinton in the 1990s, who enlisted ACORN to badger banks to make bad loans to minorities, and then to Rep. Barney Frank and his fellow travelers in the 2000s, who put the.... (Read Full Article)