NOTE: the photo above originally ran in the NYTimes, but they have now changed it to this one...don't you wonder why? -- maybe because of this little tidbit; or this, or this, or this? Thank God for the NYTimes always watching out for the Dems! What would they do without them? (h/t The Corner)
But let's go back to the original psychosis (i.e., detachment from reality) that laid the groundwork for the current Democratic Party delusion (h/t Betsy):
In 1995, the Clinton Administration issued rules that required banks and lending institutions to give loans to people who could not afford them. The lending standards were essentially gutted. This was an overt act of government.
The banks complied and gave the loans. They got the money to lend by selling the bad mortgages to Fannie Mae and Freddie Mac. These semi-government entities “bought” the bad mortgages from the banks. But where did Fannie and Freddie get the money to buy the bad debt?
Fannie and Freddie got the money by packaging the bad debts into bundles and selling them to investors. Now, most people would never have bought these “mortgage backed securities” except for one thing: Fannie and Freddie marketed them as backed by the U.S. Government.
So, naturally, investors bought them. And over time, these securities were traded and treated just like real money. But of course they weren’t “real money.”
They were backed by little more than hope; hope that people with insufficient income or prospects would somehow be able to pay the mortgage.
When those mortgage payments failed to materialize, the securities couldn’t pay the dividends and the whole sordid deal started to fall apart.
Now, should investment companies and large banks have been aware and defended themselves and their stockholders? Yes, of course. But they were told from the beginning that the government had their back. It was “risk free.” Now they are calling the government’s bluff and we, the taxpayers, are getting stuck.
There was ample warning. Since 1999, responsible members of Congress and the two presidential administrations have attempted numerous times to tighten the lending standards and force reform of the system.
But using millions in political cash, Fannie Mae and Freddie Mac blocked all moves at reform. And people like Frank and Dodd – and, yes, Barrack Obama -- were there to defend the government social policy, while raking in tens of thousands of campaign contributions for themselves.
So now all of us will pay dearly for this failed utopian government policy. (emphasis mine)
So when Obama talks about the "failed policies of the Bush Administration", or "failed Republican policies"; what he's really doing is covering up the fact that these destructive policies derive from the leftist utopian mindset, which he himself exemplifies perfectly.
When he talks about "hope and change", he really means that he intends to do much more of the same, because this is the kind of utopian fantasy that he has promulgated his entire life--both political and non-political. In truth, like any person out of touch with reality, he believes his delusions and hallucinations are real. And he invites you to enter them with him and to close your eyes and wish and hope and pray with all your heart and soul that the inconvenient reality that caused this mess for his Democratic predecessors will just go away because He--the One; the Messiah-- is sooooo special that He alone is able to change reality for us.
Under an Obama Administration (PBUH), the delusional leftist ideology that got us into this mess to begin with will only continue to expand to the outer limits of fantasy.
The inmates who are running the asylum are very busy now constructing a wall around their asylum; a wall that is a bigger, better, stronger and more fortified bubble around the asylum--one where not a single ray of reality will be able to penetrate and disturb the lovely fantasy world within.
But hey! What's does a little thing like reality matter when when you're on a mission of social justice and preaching politically correct
UPDATE: Confirmation of diagnosis:
Usually it will be 8 A.M. before I get e-mails this depressing. Not so this season:
I reluctantly support the bill. I'm not reluctant because I think it's
a bad idea. I think it's necessary.I'm reluctant because only a fool would believe this is the final form
of the bill. The Dems
have already tipped their hand. They want their agenda attached to this
program. And they control
Congress. If Obama is elected, they will "tweak" the bill over time,
inserting many of the provisions
that were stripped out this weekend.
How? The oversight committees will selectively leak carefully chosen
"outrages" that make it appear
that minorities and poor-credit individuals are being hardest hit.
They'll rerun their 1980's PR offensive
about "red lining". Then they'll promise to "fix" the problem and —
voila! — ACORN-like groups will
get their money. And a newly Obama-appointed Treasury Secretary will be
the main facilitator.
Depressing, but undeniable.
UPDATE II: What exactly does a "community organizer" do? Stanley Kurtz knows:
Barack Obama's rise has left many Americans asking themselves that question. Here's a big part of the answer: Community organizers intimidate banks into making high-risk loans to customers with poor credit.
In the name of fairness to minorities, community organizers occupy private offices, chant inside bank lobbies, and confront executives at their homes - and thereby force financial institutions to direct hundreds of millions of dollars in mortgages to low-credit customers.
In other words, community organizers help to undermine the US economy by pushing the banking system into a sinkhole of bad loans. And Obama has spent years training and funding the organizers who do it.
Read it all. Then ask yourself why Americans are even considering the possibility that this man has any solution for the economy. It boggles the mind; but perhaps not in an asylum sheltered from reality....
UPDATE III: Democrat's Jedi Mind Tricks; "You don't want to fix Freddie or Fannie...there's no crisis here."
UPDATE IV: A New York Times article from a few years back:
"These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis," said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
Yes, do tell us more about reality, Representative Frank.
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