In the history of mankind, many republics have risen, have flourished for a less or greater time, and then have fallen because their citizens lost the power of governing themselves and thereby of governing their state. TR


News Flash: Reporter Scrutinizes Obama’s Past

Yes, these things do happen. But you’ll probably see most of it coming from conservative outlets like The Daily Caller, which today is running a piece by White House reporter Neil Munro looking into President Obama’s own support for the subprime lending that nearly destroyed the economy.

Obama is a standard Richard Daley Chicago Machine politician, with ample ties to some of Chicago’s shadiest characters – Tony Rezko and Rod Blagojevich come immediately to mind – who was presented to the public by a clever PR campaign in 2007 and 2008 as the Second Coming of Jesus Christ. The press did little to interfere with this narrative.

This year, I assure you, the attitude among mainstream reporters is that the vetting of Obama was already done in 2008, and that revisiting his past, unless you’re doing some kind of biography, amounts to a right-wing hit job.

So it will be up to the conservative press to take another look. Or, that is, to take a first look.

The great irony of Obama’s participation in the drive for high-risk lending to low-income households is that the practice led directly to today’s economic crisis, which Obama blames solely on Bush policies. Of course, to the extent he acknowledges the role of subprime lending in the crisis, he blames it on greedy bankers, not the policy itself.

From The Daily Caller:

The closest Obama has ever come to admitting his role in the scandal came in a September 2007 speech to a Wall Street audience.

“Subprime lending started off as a good idea: helping Americans buy homes who couldn’t previously afford to,” he said.

But “as certain lenders and brokers began to see how much money could be made,” he said, “they began to lower their standards. … Most everyone knew that some of these deals were just too good to be true, but all that money flowing in made it tempting to look the other way and ignore the unscrupulous practice of some bad actors.”

“Turning a blind eye to the cronyism in our midst can put us all in jeopardy … and we cannot accept that in the United States of America.”

Well, The Daily Caller takes Obama’s advice and refuses to turn a blind eye to cronyism, detailing how Obama’s support for junk lending built connections for him to the Chicago real estate and national banking industry that paid huge dividends for the budding politician.

Obama also made friends among the city’s developers, including Tony Rezko — who was convicted on corruption charges in 2008 — and in the city’s urban planning division, then overseen by Valerie Jarrett, who remains one of his closest political advisers. Real estate interests contributed heavily to his 2004 campaign, including $12,000 from Penny Priztker . . .

In 2007 and 2008, Citigroup gave Obama $736,771 for his presidential race, according to data collected by the Center for Responsive Politics.

Obama got $126,349 from the two huge taxpayer-backed mortgage traders, Fannie Mae and Freddie Mac, between 1989 and 2004. Only Democratic Connecticut Sen. Chris Dodd, who chaired the powerful Senate banking committee, got more cash from the two subprime lending giants.

Once in the Senate himself, Obama joined with Dodd to block a 2005 bill that would have curbed Fannie Mae’s funding of the high-risk mortgage bubble. By 2005, nearly 20 percent of new U.S. mortgages were subprime loans.

If the New York Times does a story like this, please flag it for me and I will publicly eat my computer. All of it, including the keyboard and the Apple “Magic Mouse,” which has a tougher exterior than other mouses and is harder to digest.

12 thoughts on “News Flash: Reporter Scrutinizes Obama’s Past”

  1. I read this earlier.
    The current media should be so ashamed!
    But they are not…that is the sad part…they will keep on covering up for the Chicago thug(s).

  2. Keith,

    To date, how many computer components have you consumed?

    Going back to Carter so many politicians were on the “home affordability” bandwagon it may be easier to look for someone who made a serious effort to curtail the impending problem.

  3. Thank you and other conservative media for doing the yeoman’s work of vetting this fraud, Keith. Never fear…your computer is safe from your digestive system. The New York Times is too busy cavorting with the fraud in chief in revealing state secrets and exposing heroes like the Pakistani doctor who aid the US in finding Osama. They are more interested in making the fraud in chief look like the second coming of Rambo, rather than exposing his ties with the mafia underworld. Shouldn’t be too surprised…the New York Times thought Mussolini was a swell guy too.

  4. I’m in agreement with the other commenters here; you needn’t search for tasty computer/mouse recipes.

    Among conservatives (of both parties) is a discussion of why the MSM jumped on board of Obama’s candidacy without even a cursory check of his background. Another point is what benefit do they receive by continuing the charade that MrO’s policies are beneficial to anyone. The common theme is that the liberal wealthy, who give so much support to MrO, are trying to ease the guilt they feel for being so fortunate.
    We know why the unions are on board, we know why the Black community is too, but what does the MSM get in return for their unflagging support of someone who threatens to trash the FirstAmendment.

    1. Srdem, Pull back the curtain and you’ll find George Soros…
      “The Philanthropy of George Soros.” That book, appropriately, was written by former New York Times reporter Chuck Sudetic who now works for Soros’ Open Society Foundations. It is the second such Soros promotional book written by a Times staffer.

    2. I don’t think MSM’s allegiance to Obama is for wealth and fame. He is the leader of their religion – the church of liberalism. I call them his fellow travelers, others call them the fifth column. All a matter of semantics.

    3. Why would the MSM be worried about The First Amendment? You make the assumption they USE it! Which would mean they are more than a Propaganda machine for the Left… That’s a BIG assumption.

  5. Don’t you wonder if the Obamas got a usbprime loan to buy their townhouse? How could they afford it before Mrs. Obama got a significant pay hike from UC Medical Center?

  6. Pingback: Reason #44 – Obama and Rezko: A “Distraction!” « Our Free 50

Comments are closed.