Monday, September 29, 2008

The abusive bailout

As you know, I recently wrote an article on how the Community Reinvestment Act (CRA) was hijacked by the Democrats.  In addition, it is more than a bit obvious that Fannie and Freddie became the political playground of Democrats.  They could not only obtain campaign funds but buy votes through the use of these institutions.  Sadly, the financial collapse that resulted from their political action is not only having an impact on the American people but on the Republican Party.  

The situation is chaotic, but there is no reason not to paint the tail of this disaster on the Democrat donkey.  Our Republican leadership needs to lambast the Democrats here - and I hope to see Sarah Palin and then John McCain layout the history of this mess and point fingers. It is notable that Barrack Obama, the world class community organizer, has been up to his eyeballs in this slimy situation.  He has benefitted greatly from both the CRA and Fannie/Freddie.  Unless this relationship and its implications are clearly stated for the American people, the truth will be hidden behind a tremendous amount of political cover and Republicans will suffer substantially.  

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