One thought on “Mocking Obama Ads Taking Toll”

1. Yeah, there wasn’t a huge collapse in the economy which Obama inherited from Bush. No, all of those things must be the President’s own fault. Think of it like this: had Obama not intervened, the economy wouldn’t have stabilized. It wouldn’t be growing right now (though admittedly gradually). We would be in a far worse position. Recession would have become depression. I’m grateful Obama stopped the slide. I think he deserves another 4 years to get this thing right and perhaps have a chance to implement his agenda as he intended the first time… you know, before everything fell apart (thank GW!)

   Political Arena Editor Responds:

   The problem with your narrative is that it leaves out the key fundamental facts.

   1 – The Bush Administration lobbied Congress 17 times for mortgage industry reform and a group of GOP legislators tried to pass legislation multiple times and when Barney Frank couldn’t stop it in the House Chris Dodd and the Democrats were able to stop it in the Senate either in committee or with the filibuster threat. Obama actively participated in stopping those reforms and took the second highest amount of campaign money from the mortgage/banking industry next to Chris Dodd.

   2 – Obama actually was a lawyer in one of those CRA lawsuits that forced banks to make high risk loans.

   3 – When OFHEO, the agency that monitors the mortgage industry told the banking committee’s what was coming the Democrats said they were racists who were making it up because Franklin Raines was black. (Keep in mind that all of this is on video and I will be happy to link it.)

   4 – The way Obama intervened was one of the worst ways possible. He didn’t buy up the toxic assets and acted in a why that allowed him to partially nationalize the banks. Millions of people still lost their homes while Obama was picking winners and losers. What Obama should have done is what Reagan did, he had the government buy all of those mortgages to re-liquidate the banks and the people just paid the government back over time and the government made money. That saves the homes for countless people, but no, Obama wanted to control the banks so he used our money to buy their stock and give the banks loans, but instead he screwed the little people and helped the rich ones.

   5 – I can prove all of this and challenge you to be foolish enough to deny it.

   6 – The economy would have recovered much better if we didn’t have all of his anti-business, anti-free enterprise and anti-energy policies.

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