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September 28, 2008
McCain/Palin Could Win this Election by Exposing the Trillion Dollar Scam
Sarah Barracuda could win this election on Thursday night for the Republicans. All she needs is the courage to tell the truth in her debate with human gaffe machine Joe Biden -- with John McCain's permission and support -- to tell it like it is.
If the great American middle class ever figures out the trillion dollar phony mortgage scam from Freddie and Fannie, they will finally rise up in wrath and throw the liberal bums out. Let it start hitting their pocket books, their ATM cards and credit cards, let their home prices fall like a rock -- and Barack Obama will be out of politics, along with the Democrat majority in Congress.
For conservatives this is the opportunity of the century.
That is why the Democrats are screaming with fear about the abyss that has suddenly opened at their feet. Since the Carter Administration first threatened the banks with punishment if they didn't allow themselves to be robbed by sub-prime borrowers, since the Clinton Administration made it all even worse in 1995, even the Democrats have known full well that the bills had to come due at some time.
There is a sane reason why bankers and trustees have to exercise "due diligence" over other people's money. All the politicians are lawyers, and they know about money and theft. But "due diligence" was criminalized for bankers through Federal law. They were compelled, on penalty of law, to lend money at high-risk through Fannie and Freddie. It is the Great Stock Market Crash of 1929 all over again, where everybody bought stocks on margin until they could see the abyss opening up at their feet. Well, this time it was the Feds who created an insane lending scheme themselves. The US Government threatened to punish bankers for "redlining" -- which in real life means giving money only to people who can pay it back.
You can only bend the market through coercion for so long -- then things fall apart. That's what's happened here.
The taxpayers are now on the hook for a trillion dollars, if you add the failed 300 billion dollar rescue package from two weeks ago to the 700 billion dollar Paulson package. This is a trillion dollar scam, and all the politicians in Congress, the ACORN mafia, the people who played the market on unsecured mortgages, and the scam artists who were hired by Freddie and Fannie -- they all knew it. In case you haven't been watching, that includes all of Barack Obama's "home mortgage advisors" -- Franklin Raines, Jim Johnson and Jamie Gorelick. It includes Senate Banking Committee members like Chris Dodd. It includes House members like Barney Frank. Watch this video and you can see them strutting their stuff when the US watchdog agency criticized Fannie and Freddie in 2003.
They knew exactly what was going on.
This crisis is not financial -- it is political. It's not a market failure. It's a decades-long robbery by the Left, finally exposed for what it is.
The Democrats deserve the wrath of the voters this time.
Sarah Palin could defeat Obama and Biden Thursday night. All she has to do is tell the truth about the Democrats and the Trillion Dollar Scam. Not to do so would be collude in a massive Ponzi scheme, designed to fall on the shoulders of the taxpayers.
This is precisely why we have elections.
John McCain and Sarah Palin will need a lot of guts to do this. But the scam has to be exposed, or the fetid wounds in the financial sector will fester and metastasize.
James Lewis blogs at dangeroustimes.wordpress.com.