Sher Zieve's Weekly Column... Democrats caused current financial crisis...
Written By: Sher Zieve... SARASOTA, FL. (NSTNMA) - After listening to either uninformed or patently lying Democrat operatives on Fox News, this Saturday morning — Mary Anne Marsh and other multiple Democrat Obama-supporters — blame the Bush administration and Republicans for the current financial crisis, I felt it imperative to be one more voice in at least attempting to set the record straight. As they are backing Obama for POTUS and actively working against McCain, the leftist mainstream media certainly will not do it... The current financial crisis facing the United States of America and the world began with the US home ownership debacle and President William Jefferson Clinton. In 1994, Clinton signed a bill to promote low-income home ownership that Business Week calls "one that argues for creative measures to promote homeownership" for those applicants who did not qualify for fixed mortgages. And these applicants came in droves and were almost always approved — no matter their credit histories or ability to pay. Said "creative ownership" began the heavy distribution of ARMs (Adjustable Rate Mortgages) that ensued. These ARMs began low but, are based on the market. As the market changed, the rates — and subsequent monthly payments for homeowners — rose to rates that the homeowners could no longer afford. Foreclosures on the ARM properties began and, like Dominos cascading onto one another, the current financial meltdown began... Both Fannie Mae and Freddie MAC were essentially and quietly taken over by the Clinton Administration and his operatives and supporters — including Franklin Raines who ran Fannie Mae and ended up with over $6M his first year — raided both corporations which had become their personal slush funds. From his days of running Fannie Mae, Franklin Raines is reported to have accumulated a personal net worth of over $100M. Another Clintonian buddy — Jamie Gorelick (remember her from the CIA/FBI fiasco?) — is also said to be personally worth in excess of $100M. It appears that some in government service CAN achieve wealth beyond the wildest dreams of most of us! They just have to sell their souls to the highest bidder and be willing to betray their fellow Americans. This fortune was accumulated during her years (1997-2003) as Vice Chairman of Fannie Mae. The fraudulent accounting scheme which apparently allowed for Democrats Raines, Gorelick and other Clinton supporters to achieve vast fortunes in a very short period of time was brought to light in 2004... As mortgage firms and investment banks heavily leveraged by ARM mortgages started to be adversely affected by the number of foreclosures, the current financial crisis began in earnest... Democrats Sen. Chuck Schumer (D-NY), Rep. Barney Frank (D-MA) also the Chairman of the House Financial Services Committee — of all things — and Democrat presidential Candidate Barack Obama (who is reported to be the 3rd largest recipient of Fannie Mae political contributions — said to be over $100K in less than 4 years) have also benefited greatly from these Democrats' personal slush funds. However, in the worst cut to We the People from the knife of corruption, the very people who created this problem will now be in charge of "correcting" it! Does this make any sense to anyone except those who have received and continue to receive funds from these institutions? If we really want to get rid of these corruptions we have to vote these sleazes out of office. That requires courage. The only question remaining is: Do we have the internal fortitude to do it? If the answer is "No," you can kiss your money and your country good bye and prepare for an inevitable serfdom... http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.html http://www.allbusiness.com/finance-insurance/993847-1.html http://www.dollarsandsense.org/archives/2007/0507karger.html http://volokh.com/posts/1216060102.shtml http://www.rushlimbaugh.com/home/daily/site_091808/content/01125107.guest.html http://americantaxpayer.wordpress.com/2008/09/18/barney-frankchuck-schumer-role-in-failure-of-fannie-maefreddie-mac/ -------------------------------------------------------------------------------- Sher Zieve is an author, political commentator, and staff writer for The New Media Alliance (www.thenma.org). Zieve's op-ed columns are widely carried by multiple internet journals and sites, and she also writes hard news. Her columns have also appeared in The Oregon Herald, Dallas Times, Boston Star, Massachusetts Sun, Sacramento Sun, in international news publications, and on multiple university websites. Ms. Zieve is currently working on her first political book: "The Liberal's Guide To Conservatives." --~--~---------~--~----~------------~-------~--~----~ You received this message because you are a member of the "News Sarasota" Google group... To read more, go to: http://www.newssarasota.com http://newssarasotaezine.talkspot.com To hear more, go to: http://thecaptainsamerica.podomatic.com Enjoy the priviledge you now share with others who want to know what others don't... Thanks, Matt Bruce Managing Editor News Sarasota.com Retired 25 Year Fire-Rescue Captain Host Of: "The Captain's AMERICA" Show Heard From 12 noon to 1 PM ET Monday Thru Friday LIVE On Net Talk World.com Across America & Around The Globe At The Speed Of The Internet... Weekend's Overnight on The Accent Radio Network... 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