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Erik Rush
No Shame, No Blame
September 30, 2008
If my checking
account goes into overdraft to a dramatic degree, obviously my bank
would hear nothing of coming to the rescue with funds not only to
ameliorate the overdraft, but to get me on my feet again. The same would
apply if half of the depositors in the branch I use did likewise.
The American people are being handed a bill
of goods, that we will be living in a
"Road Warrior” scenario within a short march of weeks if the
government (read "American taxpayers”) does not come to the table with
some form of economic aid to the ever-growing list of failed investment
banks and related institutions in the U.S.
"Wall Street greed” is the catch phrase being
used by the establishment press, half of Congress and the Bush
administration to explain the implosion of the subprime mortgage
industry and subsequent mass bank failures in the U.S. This is "the lie
that is being told so often it is becoming the truth,” and readily
accepted in the climate of class envy fostered by the far Left. What is
particularly shameful is that so many in government are in so deep in
this (in terms of culpability) that they are happy to deflect the blame.
Forget that Fannie and Freddie became the
adopted brainchildren of congressional Democrats and the Clinton White
House. Forget their quasi-Marxist social engineering that extended
credit to millions of people who couldn't afford it. Forget former White
House Budget Director Franklin Raines raking in over $90 million running
Fannie as it failed, Jamie Gorelick taking $30 million, Senator (and
Democrat presidential nominee Barack) Obama staffer Jim Johnson taking
millions from Fannie Mae, as well as several others who collectively
pocketed tens of millions as well. Given the failures of these entities,
there isn’t even the argument of stellar performance to justify these
payouts.
Yet, Americans aren’t calling for their
heads.
And forget that all of these people are
Democrats. Let’s focus on the fear factor (should this not get
addressed, and quickly) and in blaming Wall Street, and perhaps no one
will notice the commonalities between the villains in this comic
tragedy.
Perhaps it’s just jadedness, but the first
thing that occurred to this columnist when talk of a "bailout package”
came to the fore was all of the crooks that were going to line up and
attempt to capitalize on the stupidity, shortsightedness and greed of
our office holders and all of the taxpayer dollars that were going to be
stolen in the process. Yes, those who caused the problem in the first
place now presume our trust in finding a remedy for the situation, and
the only ones asking questions or balking are those who have no
credibility with the aforementioned lawmakers and the media. Thus, the
American people remain ever ignorant and complacent.
Then there are the relationships between some
of the principals responsible for this mess and a certain Democrat
presidential nominee, and how these relationships are – big surprise
here – going unreported by the establishment press.
As many a reader (but so few Americans at
large) are aware by now, Obama was second among recipients of campaign
dollars from Freddie and Fannie, despite the fact that he has only been
in the Senate for four years. Does this smell of something? Of course,
but we as a nation are too propagandized to notice or too apathetic to
care. The big guys will steal; little mopes like us just get to suck
it up. In the meantime, we still have to elect one of them.
For one thing, how are donations to political
candidates by a government sponsored enterprise (GSE) legitimized in the
first place? Though Fannie Mae and Freddie Mac were publicly-traded, the
brazen partiality toward left-leaning politicians and the monstrous
transfers of capital to individuals from a GSE might have been
questioned in an environment in which accountability existed.
Alas, no such luck.
Thirty years ago, Sen. Obama would be
withdrawing from the presidential race right about now, so great would
be the public shame of his connection to this debacle. But not a peep
have we heard from Obama, save for his citing the greed of Wall Street.
In fact, he seems hard-pressed to be forthcoming with anything
substantial to say on the issue at all. Why? Once again, the
establishment press, which is manipulating this election process, is
shielding Obama from accountability. His silence merely speaks to his
liability.
ACORN: Tip of the Iceberg
As if Sen. Obama’s incestuous relationship
with Freddie Mac-Fannie Mae wasn’t bad enough, he is closely aligned
with one of the most audacious crooks who have lined up to capitalize on
the aforementioned stupidity, shortsightedness and greed of our office
holders.
ACORN (Association of Community Organizations
for Reform Now) "is the nation’s largest grassroots community
organization of low- and moderate-income people with over 400,000 member
families organized into more than 1,200 neighborhood chapters in 110
cities across the country” (from their
website). They’re also a radical, far Left entitlement-oriented
group that throws around phrases like "social and economic justice” like
kids playing ball at recess and for which the financial bailout has
marked $100 million in funding. Why? Is ACORN a stressed bank that is
foundering? No – congressional Democrats have simply dropped all
pretense vis-à-vis cavalier and irresponsible dispensation of tax
dollars.
Of course, ACORN has endorsed Sen. Obama,
whose connection to this radical group goes back
even farther than his community organizer days.
ACORN is but one of an unknown number of
carrion-eaters circling above the carcass of our banking industry,
waiting to pick its bones clean. It is simply a prominent one for which
this information became available.
A little-known fact about carrion birds: Many
will attack and kill prey animals if they can get away with it.
Likewise, nonprofit and for-profit thieves will dine on the beefed-up
bailout package if it is not transformed in a revolutionary manner or
judiciously scrutinized and supervised.
Why, I ask myself, do I have the feeling that
in the days of the Founding Fathers of this nation, such phenomena as
described above would have resulted in four-fifths of Congress being
dragged out into the street and shot?
Perhaps because that is precisely what would
have occurred. I can fantasize, can’t I? |
