Recently in Democratic Congress Category

Obama has exploded federal spending to expand government control of the economy and make millions more dependent on government handouts, but promised he wouldn't raise taxes on anyone making less than $250,000. Remaking the U.S. into the European model will doom America to mediocrity, as it is doing Europe, because of its unsustainable welcome progams that even incredibly high taxes can't support.

Europeans, notorious for tax evasion, cannot escape the so-called VAT tax, which imposes a tax on the value added at every step in the process of producing goods or services. To the delight of politicians, it's an indirect or hidden tax, but a very big money maker.

Here's a tax that will hit everyone (even those who pay no income tax) and it is being quietly discussed inside the Obama administration as the fuel it needs. (What's another broken promise, particularly if it can be hidden and disguised?) The money isn't wanted to reduce the huge Obama deficits, but to keep government growing even more. What's another broken promise?

Lawrence Summers, the witty economist now advising the Obama leadership, foresaw the possibility of the VAT tax being embraced even by the left wing in the U.S.:

Liberals oppose a VAT because it is regressive and conservatives oppose it because it is a money machine, but a VAT might come when liberals realize it is a money machine and conservatives realize it is regressive.

George Will looks ahead to where investors will want to put their money:

Will a person or institution looking for a place to invest $1 billion seek opportunities in the United States, where policy decisions are deliberately increasing taxes, debt, regulations and the cost of energy, and soon will increase the cost of borrowing and hiring? Or will the investor look at, say, India. It is the least urbanized major country -- 70 percent of Indians live in rural areas, 50 percent on farms -- so the modernizing and productivity-enhancing movement from the countryside to the city is in its infancy. This nation of 1.2 billion people has a savings rate of 25 percent to 30 percent, and fewer than 20 million credit cards. Which nation, India or the United States, is apt to have the higher economic growth over the next decade?

Democrats control all the levers of national power and there is nothing to stop their "tax and spend" rampage.

Economic destruction lies ahead. The incompetence and bureaucratic bungling of government will hold more and more sway over the operations of the economic sector. At the moment, there is no escape in sight.

If Obama wants to destroy the American economy, he's doing a great job.

Higher Taxes, Anyone?
George Will
Sunday, July 12, 2009

WASHINGTON -- Economic policy, which became startling when Washington began buying automobile companies, has become surreal now that disappointment with the results of the second stimulus is stirring talk about the need for a ... second stimulus. Elsewhere, it requires centuries to bleach mankind's memory; in Washington, 17 months suffice: In February 2008, President George W. Bush and Speaker Nancy Pelosi, who normally were at daggers drawn, agreed that a $168 billion stimulus -- this was Stimulus I -- would be the "booster shot" the economy needed. Unemployment then was 4.8 percent.

In January, the administration, shiny as a new dime and bursting with brains, said that unless another stimulus -- Stimulus II wound up involving $787 billion -- was passed immediately, unemployment, which then was 7.6 percent, would reach 9 percent by 2010. But halfway through 2009, the rate is 9.5. For the first time since the now 16-nation Eurozone was established in 1999, the unemployment rate in America is as high as it is in that region, which Americans once considered a cautionary lesson in the wages of sin, understood as excessive taxation and regulation.

"Everyone guessed wrong" about the economy's weakness, says the vice president, explaining why Stimulus II has not yielded anticipated benefits. Joe Biden is beguiling when unfiltered by calculation, as he often is and as he was when he spoke about guessing ("Meet the Press," June 14) and how everyone "misread" the economy ("This Week," July 5). To be fair, economics is a science of single instances, which means it is hardly a science. And it is least like one when we most crave certainty from it -- when there is a huge and unprecedented event and educated guessing is the best anyone can do.

But before embarking on Stimulus III, note that only about 10 percent of Stimulus II has yet been injected into the economy in 2009. This is not the administration's fault, the administration's defenders say, because government is cumbersome, sluggish and inefficient. But this sunburst of insight comes as the administration toils to enlarge governmental control of health care, energy, finance, education, etc. The administration guesses that these government projects will do better than the Postal Service (its second-quarter loss, $1.9 billion, was 68 percent of its losses for all of 2008) and the government's railroad (Amtrak has had 38 money-losing years and this year's losses are on pace to set a record).

Let's guess: Will a person or institution looking for a place to invest $1 billion seek opportunities in the United States, where policy decisions are deliberately increasing taxes, debt, regulations and the cost of energy, and soon will increase the cost of borrowing and hiring? Or will the investor look at, say, India. It is the least urbanized major country -- 70 percent of Indians live in rural areas, 50 percent on farms -- so the modernizing and productivity-enhancing movement from the countryside to the city is in its infancy. This nation of 1.2 billion people has a savings rate of 25 percent to 30 percent, and fewer than 20 million credit cards. Which nation, India or the United States, is apt to have the higher economic growth over the next decade?

Yet while government diminishes America's comparative advantages, liberals are clamoring for ... higher taxes. Partly because of changes endorsed by presidents from Ronald Reagan to Barack Obama, approximately 60 percent of taxpayers now pay either no income tax (43 percent) or less than 5 percent of their income. Because one cannot raise significant money by that tax without nicking the middle class, or without bringing millions of people back onto the income tax rolls, attention is turning to a value-added tax.

A VAT is levied at every stage of production. Like the cap-and-trade regime being constructed, a VAT is a liberal politician's delight: It taxes everything, but opaquely.

Before he became an economic adviser in the Obama White House, where wit can be dangerous, Larry Summers said: Liberals oppose a VAT because it is regressive and conservatives oppose it because it is a money machine, but a VAT might come when liberals realize it is a money machine and conservatives realize it is regressive.

At the June 29 White House briefing, press secretary Robert Gibbs was asked, with reference to health care legislation, if the president's pledge not to raise taxes on couples making less than $250,000 is "still active." Gibbs answered: "We are going to let the process work its way through." What is your guess?

The mainstream media's total abdication of its responsibility to report fairly and accurately the Obama administration's plan to sacrifice the American capitalist economy to the false god of manmade climate change is shocking.

The House of Representatives disgraced itself rushing a bill off to the Senate that had not even been assembled into a single thousand-page plus document -- let alone not having been read by anyone -- so Members could go party for Fourth of July.

At least Michael Ramirez is paying attention.


Click to enlarge.

Skepticism about the religion of global warming is growing. Australia has put a hold on its cap & trade effort, as has New Zealand. The Wall Street Journal followed up on an important report that appeared online. See our most recent prior report on the myth.

You always can count on Charles Krauthammer to deliver the correct perspective on what is happening. All the demagogUery issuing out of Washington from the president down through the Democratic ranks of Congress is a world embarrassment and a threat to world financial recovery.

Bonfire of the Trivialities

Charles Krauthammer for the Washington Post
Friday, March 20, 2009

WASHINGTON -- A $14 trillion economy hangs by a thread composed of (a) a comically cynical, pitchfork-wielding Congress, (b) a hopelessly understaffed, stumbling Obama administration, and (c) $165 million.

That's $165 million in bonus money handed out to AIG debt manipulators who may be the only ones who know how to defuse the bomb they themselves built. Now, in the scheme of things, $165 million is a rounding error. It amounts to less than 1/18,500 of the $3.1 trillion federal budget. It's less than one-tenth of 1 percent of the bailout money given to AIG alone. If Bill Gates were to pay these AIG bonuses every year for the next 100 years, he'd still be left with more than half his personal fortune.

For this we are going to poison the well for any further financial rescues, face the prospect of letting AIG go under (which would make the Lehman Brothers collapse look trivial) and risk a run on the entire world financial system?

And there is such a thing as law. The way to break a contract legally is Chapter 11. Short of that, a contract is a contract. The AIG bonuses were agreed to before the government takeover and are perfectly legal. Is the rule now that when public anger is kindled, Congress summarily cancels contracts?

Even worse are the clever schemes now being cooked up in Congress to retrieve the money by means of some retroactive confiscatory tax. The common law is pretty clear about the impermissibility of ex post facto legislation and bills of attainder. They also happen to be specifically prohibited by the Constitution. We're going to overturn that for $165 million?

Nor has the president behaved much better. He too has been out there trying to lead the mob. But it's a losing game. His own congressional Democrats will out-demagogue him and heap the blame on the hapless Timothy Geithner.

Geithner has been particularly maladroit in handling this issue. But the reason he didn't give the bonuses much attention is because he's got far better things to do -- namely, work out a rescue plan for a dysfunctional credit system that is holding back any chance of recovery

It is time for the president to state the obvious: This recession is not caused by excessive executive compensation in government-controlled companies. The economy has been sinking because of a lack of credit, stemming from a general lack of confidence, stemming from the lack of a plan to detoxify the major lending institutions, mainly the banks, which, to paraphrase Willie Sutton, is where the money used to be.

Obama has been strangely passive about this single greatest threat to the country. In his address to Congress and his budget, he's been far more interested in his grand program for reshaping the American social contract in health care, energy and education.

Obama delegates to Geithner plans for a bailout -- and Geithner (thus far) delivers nothing. Obama delegates to Nancy Pelosi and her congressional grandees the writing of all things fiscal -- and gets a $787 billion stimulus package that is a wish list of liberal social spending, followed by a $410 billion omnibus spending bill festooned with pork and political paybacks.

That bill, we now discover, contains, among other depth charges, a Teamster-supported provision inserted by Sen. Byron Dorgan that terminates a Bush-era demonstration project to allow some Mexican trucks onto American highways, as required under NAFTA.

If you thought the AIG hysteria was a display of populist cynicism directed at a relative triviality, consider this: There are more than 6.5 million trucks in the United States. The program Congress terminated allowed 97 Mexican trucks to roam among them. Ninety-seven! Shutting them out not only undermines NAFTA. It caused Mexico to retaliate with tariffs on 90 goods affecting $2.4 billion in U.S. trade coming out of 40 states.

The very last thing we need now is American protectionism. It is guaranteed to start a world trade war. A deeply wounded world economy needs two things to recover: (1) vigorous U.S. government action to loosen credit by detoxifying the zombie banks and insolvent insurers, and (2) avoidance of a trade war.

Free trade is the one area where the world indisputably turns to Washington for leadership. What does it see? Grandstanding, parochialism, petty payoffs to truckers and a rush to mindless populism. Over what? Over 97 Mexican trucks -- and bonus money that comes to what the Yankees are paying for CC Sabathia's left arm.


What catastrophe are we heading towards as the government intrudes more and more into the private sector? Peter Wallison describes clearly how the dumb hand of the government, not the competitve forces of the market, will pick tomorrow's winners.

OPINION MARCH 17, 2009, 7:17 A.M. ET Wall Street Journal

Congress Is the Real Systemic Risk


After their experience with Fannie Mae and Freddie Mac, you'd think that Congress would no longer be interested in creating companies seen by the market as backed by the government. Yet that is exactly what the relevant congressional committees -- the Senate Banking Committee and the House Financial Services Committee -- are now considering.

In the wake of the financial crisis, the idea rapidly gaining strength in Washington is to create a systemic risk regulator. The principal sponsor of the plan is Barney Frank, the chair of the House Financial Services Committee. A recent report by the Group of Thirty (a private sector organization of financial regulation specialists), written by a subcommittee headed by Paul Volcker, also endorsed the idea, as has the U.S. Chamber of Commerce and the Securities Industry Financial Markets Association.

If implemented, this would give the government the authority to designate and supervise "systemically significant" companies. Presumably, systemically significant companies would be those that are so large, or involved in financial activities of such importance, that their failure would create systemic risk.

There are several serious problems with this plan, beginning with the fact that no one can define a systemic risk or its causes. The Congressional Oversight Panel, which was established to advise Congress on the use of the TARP funds, concluded -- with two Republicans dissenting -- that the current crisis is an example of a systemic risk evolving into a true systemic event. After all, virtually all the world's major financial institutions are seriously weakened, and many have either failed or been rescued. If this is not an example of a systemic risk, what is?

The current financial crisis is certainly systemic. But what caused it? The failure of Lehman Brothers occurred long after the market for mortgage-backed securities (MBS) had shut down, and six months after Bear Stearns had to be rescued because of its losses. In other words, the crisis did not arise from the failure of a particular systemically significant institution. The world's major financial institutions had already been weakened by the realization that losses on trillions of dollars in MBS were going to be much greater than anyone had imagined, and before the major asset write-downs had begun. So if this was a systemic event, it was not caused by the failure of one or more major institutions. In fact, it was the other way around: The weakness or failure of financial institutions was the result of an external event (losses on trillions of dollars of subprime mortgages embedded in MBS).

If this is true, what is the value of regulating systemically significant financial institutions? Financial failures, it seems, can be the result, rather than the cause, of systemic events like the one we are now experiencing. Even if we assume that regulating systemically significant companies will somehow prevent them from failing -- a doubtful proposition, given that the heavily regulated banks have been the most severely affected by the current crisis -- we will not have prevented the collapse of a major oil-supplying country, an earthquake or a pandemic from causing a similar problem in the future. All we will have done is given some government agency more power and imposed more costs on financial institutions and consumers.

But increased government power and higher costs are not the worst elements of the proposal to designate and supervise systemically significant companies. The worst result is that we will create an unlimited number of financial institutions that, like Fannie Mae and Freddie Mac, will be seen in the financial markets as backed by the government. This will be especially true if, as Mr. Frank has recommended, the Federal Reserve is given supervisory authority over these institutions. The Fed already has the power -- without a vote of Congress -- to provide financing under "exigent circumstances" to any company, and will no doubt be able to do so for the institutions it supervises.

A company that is designated as systemically significant will inevitably come to be viewed as having government backing. After all, the designation occurs because some government agency believes that the failure of a particular institution will have a highly adverse effect on the rest of the financial system. Accordingly, designation as a systemically significant company will in effect be a government declaration that that company is too big to fail. The market will understand -- as it did with Fannie and Freddie -- that loans to such a company will involve less risk than loans to its competitors. Counterparties and customers will believe that transactions with the company will generally be more secure than transactions with other firms that aren't similarly protected from failure.

As a consequence, the effect on competition will be profound. Financial institutions that are not large enough to be designated as systemically significant will gradually lose out in the marketplace to the larger companies that are perceived to have government backing, just as Fannie and Freddie were able to drive banks and others from the secondary market for prime middle-class mortgages. A small group of government-backed financial institutions will thus come to dominate all sectors of finance in the U.S. And when that happens they shall be called by a special name: winners.

Mr. Wallison is a fellow at the American Enterprise Institute.

We have detailed on several occasions that the present worldwide financial crisis can be traced to Democratic housing policies encouraging and then requiring banks to make mortgage loans to people who really couldn't afford them. Present in the early stages of the drive to force banks to make such loans was Barack Obama, then a schooled community organizer training ACORN operatives in Chicago how to intimidate banks and bankers into making loans they shouldn't. That was back in 1991. Obama-supporting ACORN was among the organizations that pressed the Clinton Administration to toughen up the penalties on banks that "weren't making enough" subprime loans. (ACORN worked for Obama in his first run for Illinois Senate in 1996.)

Understandably, banks didn't want to make loans that had a strong chance of going bad. They wanted to get rid of them. So ACORN spent tens of thousands of dollars lobbying Fannie Mae and Freddie Mac to buy up subprime loans and sell them around the world as U.S. government securities. Also pressing Fannie and Freddie was Barney Frank, Democrat of Massachusetts, and the top Democrat in the House of Representatives on financial matters. Subprime loans rocketed from 2% of total mortgage loans in 2002 to 30% in 2006. Internal reports at Fannie warned that Fannie was getting in too deep with these risky loans, but top brass ignored the warning as Congressional Democrats led by Frank and Democratic Senator Dodd of Connecticut urged them to buy up more.

The demand for housing mushroomed with all the mortgage loan availability. In 2003 President Bush called Congress to rein in Fannie and Freddie, but Democrats led by Frank said everything was fine and no new regulation was needed. Senate Repubicans pushed legisation in 2004, 2005 and 2006, but again Democrats led by Barney Frank said all was peachy keen and no new regulation was needed. All told, Frank and fellow Democrats blocked reform efforts in 2003, 2004, 2005 and 2006. (In 2005 and 2006 Obama was in the U.S. Senate supporting Democratic efforts to block Fannie/Freddie reform. Obama in just two years became the number two recipient of Fannie/Freddie campaign contributions of all time. They must have known he was present at the creation of the subprime mortgage loan boom that resulted in many millions of bonuses for Fannie/Freddie top officials as business skyrocketed.)

The sorry tale is detailed in, among other places on this site, here. The housing bubble collapsed, subprime mortgage loan defaults exploded and rippled through Fannie and Freddie securities around the world. Financial panic ensued, all triggered by the subprime mortgage mirage dissolving.

Yesterday Rush Limbaugh reported that Barney Frank had appeared on MSNBC to discuss the financial crisis and how it all started. In many interviews, Frank had shamelessly blamed it all on Wall Street greed. Now Frank gave Joe Scarborough a different view. Limbaugh's transcript follows:

RUSH: Barney Frank. I want to go to yesterday's audio sound bite roster. Actually, we have stuff from today and yesterday. Yesterday he was on with Chris Cuomo on Good Morning America, and I'll tell you, Barney is getting more and more contentious with his buddies. I mean, the people in the Drive-By Media are Barney's buddies, and he's getting contentious with them, often for no reason (which means he's defensive). But first from MSNBC today, Joe Scarborough's morning show. Scarborough said, "How do we stop the next big bust on Wall Street? We had the '87 crash. We had the Asian crash. We had the dotcom crash and the telecom crash, and now we got the housing bubble crash." I'll tell you the next crash. I just said, folks. We are insane. It was just two months ago that we learned that massive debt that can't be repaid causes bubbles to burst big time. And now we've got trillion-plus dollar or trillion-dollar deficits, promised by Obama, for years. So that's the next one to bust, and Scarborough is asking Barney Frank, "How do we figure out what the hell we're doing on Wall Street?"

FRANK: It's not deregulation. That was not the problem. It was the failure to adopt new regulation for a new phenomenon, the securitization. The biggest part of this problem was subprime loans: money lent to people to make them homeowners who couldn't afford the loans, who should not have been considered to be, in many cases, capable financially of homeowning. Now... Eh... You've gotta recognize reality. We have begun to adopt legislation to prevent that. We can stop the last problem from recurring. Nobody can know what the next problem will be.

RUSH: This is... (laughing) He created the problem! This... Folks, this is more than chutzpah. He created the problem. This is a sound bite that gets you out of your chair. I don't believe I just heard this. He created it. His definition of "affordable housing" was to make sure that people who couldn't pay the loans back got the loans, the mortgages. He forced Fannie Mae, Freddie Mac to do this. ACORN was involved, Obama's group. This was a Democrat Party operation through and through! Instead of answering questions from Joe Scarborough, Barney Frank ought to be answering them as a witness before some other congressional committee. So now we have begun to adopt legislation to prevent this? (laughing) All you can do is laugh. I know some of you people are put out with me because I'm laughing at this, but what are we going to do? You can't go through your life angry all the time like the liberals do, but this...

Trillions of dollars have been lost as a result. Most 401(k)s and other savings have been decimated. Retirements are being postponed. Housing values have shriveled. People have lost their homes. And who was responsible? Know-it-all do-good Democrats who ignored the realities of economics.


The Wall Street Journal reported on a new poll on what voters think of Republicans. Steve Moore for the WSJ reports with our italicized comments interspersed:

The first comprehensive poll on why voters voted the way they did in November has just been released by the communications firm Target Point Consulting. I received a full briefing from the pollster Alex Lundry on what these 1,000 voters think of Republicans. The short answer is: not much.

The GOP is "in great disfavor with the electorate right now. Republicans are blamed for fiscal mismanagement, overspending, and the bad economy," says Mr. Lundry.

Fiscal mismanagement when in office. Absolutely. Overspending. Absolutely. The bad economy. The burden of the party with executive power, the prior "good" economic times forgotten -- and the media never even acknowledged those good times when they were happening. As for the worldwide financial crisis we are experiencing, this was triggered by Democrats and Democratic policies on housing that Republicans unsuccessfully tried to change, but the media didn't report it that way and the fast-talking Democrats were quicker and better at pointing the finger than the Republicans -- a key Republican failing.

"Democrats are seen as a center-right party, while Republicans are seen as dominated by the right." That's a big problem because even though 84% of voters say they are center or right on the ideological spectrum, the 48% in the middle, i.e., independents, are tilting heavily toward Democrats.

This view is so hilariously wrong but nonetheless extremely disturbing. That voters think Democrats are "center-right" seems impossible, considering they nominated the most far-left senator in the party who advocates a "spread the wealth around" policy is astounding and fast-talking liberals like Barney Frank are praising expanded welfare. It shows the skill of Democratic PR aided by the left wing mainstream media. For example, the myth that man is responsible for climate change, a concept embraced by the Democratic Party, and will require actions that will thrust millions into poverty, is deemed reasonable and mainstream by the media. The Republican position that growth of the world economy is paramount and man's impact on climate is either minimal or altogether unproven is deemed by the media as extreme far-right thinking. That such false impressions have developed is proof of Republican ineptness in the age of instant media.

The fairly narrow victory by Barack Obama in the popular vote disguises an "enthusiasm gap" among Democratic and Republican voters. Some 65% of Obama voters "strongly supported" him, whereas only 33% of John McCain voters "strongly supported" the Arizona Republican. This helps explain the river of money for Mr. Obama and the massive grassroots advantage for the Democrats.

This isn't such a big problem for the long run. Voters "wanted" the first black president to show they weren't racist and Obama fanned that feeling skillfully if despicably by unfounded but effective charges of racism against Clinton and McCain. Also, McCain wasn't much of a conservative and left too many in the base sitting on their hands.

Issue by issue, when the issues are clearly understood, the Republican positions are held by a substantial majority. Telling the story well with credible spokesmen is what's needed. The handicap of the left-wing media -- and what Sam Huntington called the "de-nationalized elites" in academia and elsewhere -- is a fact that has to be addressed in all communication plans. For example, when Democrats and the elites belittle traditional American ethics and morality, patriotism and military service, and Republicans allow them to get away with it, they are missing huge opportunities. Republicans have not been forceful enough in standing up for positions that a majority of Americans agree with, fearing the backlash from the leftwing media. For example, the left wing attacks aggressively on the extreme position on gay marriage, crying "bigotry" and "denial of civil rights," and conservative spokesmen cringe instead of issuing forceful rejoinders, even though the majority of people vote for the traditional concept of marriage. But if conservaties allow the one-sided debate to continue as it is, conservative positions will be eroded, to the vast injury of American society. "Anything goes" is not an American value.

But the biggest problem revealed by the poll for Republicans is that "voters no longer believe that the party cares about the middle class in a meaningful or credible way," Mr. Lundry explains. "Democrats cleverly frame every issue as for the middle class."

Most everybody thinks they belong to the middle class. Democrats though are aiming to solidify their voting support among Americans who will be delighted with handouts from the government. The more they can make people dependent on government, the larger their support base. This is the age-old struggle between Marxist equality of outcome vs. equality of opportunity that this nation was built on. Rob Peter to pay Paul. The nation is very close to having more Pauls than Peters, since so many now pay no income tax. Consequently, they have no regard for Peter, who is the middle class person footing the government bills. This is a huge problem and Obama with his pledge to "spread the wealth" will make it worse. He would transform our society into a European-style one, which is already staggering under its unsustainable socialist burdens.

What issues have Republicans hurt themselves most on? Three that jump out are immigration, where Republicans are seen as too strident; the War in Iraq, where voters are eager for closure; and bailouts, where voters have become angry and resentful at throwing money at failing giant corporations. Furthermore, as economic anxieties have escalated, independent voters are now more favorably inclined toward protectionist trade policies. Free marketeers need to make a better case for the positive benefits of international trade or more restrictions are certainly on the way.

The statements here are questionable. Overwhelmingly, Americans disapproved of all the proposed immigration plans, including McCain's and the President's. No sensible conservative proposal entered the debate; conservatives only operated at the margins or, with Tom Tancredo, at the extreme. The borders must be made secure, first and foremost. Any path to citizenship must include English and thorough Americanization and assimilation, so that the kinds of separatism and hostility shown by La Raza and the pro-Mexico rallies in Los Angeles would be disqualifying for citizenship and permanent residency. Legal immigration should be based on what America needs by way of skills rather than on family relations.

As for the economic problems and the bailouts, again it is Republican failure to characterize the situation accurately that allowed the Democrats and the media to blame the Republicans, especially the Bush Administration. Democrats instantly blamed Bush and Wall Street, when it was Democrats like Barney Frank, Chris Dodd and, yes, Barack Obama, who brought on the subprime loan failure fiasco that triggered the world financial panic. To this day how many average voters knew of Bush and Senate Republican efforts to reverse Clinton subprime loan policies and rein in Fannie Mae and Freddie Mac that were blocked by Democrats led by Frank and Dodd and supported by Senator Obama? As for pinning Wall Street on the Republicans, that's a joke: Obama raised several times more money from Wall Street than McCain did. Republicans are for small business and entrepreneurship, not "Wall Street greed," greed that feeds Democratic coffers very generously. President Bush has often been faulted for not responding forcefully to criticism, fair and unfair, and in that respect he did serve the country and conservatism well. Unfortunately, Congress at this time doesn't have impressive Republican spokesmen to make the case, either.

Democrats and the leftwing media did a disservice to the country by politicizing the Iraq war. However, it will fade as any kind of positive issue for the Democrats and should emerge as a success that Republicans can take credit for - a tyrant and his threat to his neighbors and America removed, a democratic country functioning in the Middle East assisting in the war against violent Islam and, soon, substantially more oil in the world supply. A more aggressive response by the White House to the avalanche of Democratic criticism would have helped.

The good news is that voters are very fearful that Democrats will go too far with their liberal agenda. When voters are asked what they "like least about the Democrats," the most common answers volunteered were: "taxes going up," "big government," "liberal," "raise spending," and even "socialism." These broad economic and fiscal principles appear to present the GOP with its biggest opening.

Again, these Democratic positions will not become the albatrosses they should be unless Republicans are forceful and aggressive. They must find their voices and their spokesmen. Also, the damage that the global warning myth and the economically disastrous Democratic plans to counter it will do to the average citizen must be aggressivley exposed and discredited. This is a major issue to get on the side of the middle class against the environmental elites who own the Democratic Party.

The poll also reveals that Republicans can win back voters by opposing Democrats on several specific policies coming down the pike in 2009: card-check labor union elections, bailouts for banks and auto makers, welfare expansions and affirmative action.

Denying workers the vote in union elections is outrageous. Bailing out the auto unions, which is what will happen, is outrageous. Explaining why getting a hand up instead of a handout is better for the individual, the family and America is a challenge but must be done. As for affirmative action, the voters have just elected the first affirmative action president, so, who knows how big an issue that will be.

The key for the months ahead is for Republicans to posture themselves, advises Mr. Lundry, "not as obstructionists, but as a check on the Obama agenda."

Too many are being lulled by Obama's excellent appointment for defense and economics into thinking he will go mainstream. He will show his extremist side very soon: His pro-abortion agenda is breathtaking in its scope. He intends to expand abortion far beyond Roe v. Wade. Even some of his backers are arguing that infanticide is just an extension of abortion. His "spread the wealth" plan has the potential to expand the handout class into a majority for the Democratic Party. There are many, including minorities, particularly Hispanics, who may rebel against his cultural policies who can be captured for the conservative cause. Obama says he wants to transform America and what he is proposing, based on his Marxist socialist background and associations and his support for abortion without limits, is an ugly America.

Obama's Illinois Democratic governor has been arrested for peddling Obama's Senate seat for personal benefit. Prosecutor Fitzpatrick said he stepped in to arrest the governor to stop a crime spree. Illinois and Chicago are interrelated centers of political corruption. Convicted felon Tony Rezko, who raised more than $250,000 for Obama and made it possible for him to buy his Hyde Park mansion, was a big fundraiser for Blagojevich. The 16 counts Rezko was convicted on all involved political corrupution.

Obama, Rezko

Obama had a candidate which he discussed with the governor, but she withdrew her name just before Fitzpatrick struck. Hmm. Did Fitzpatrick or somebody else tip Obama off? It turns out David Axelrod, Obama's chief strategist and, like Obama, an alumnus of the Chicago Democratic machine, said about a month ago that Obama had discussed the vacancy with the governor. Today Obama seemed to say he hadn't spoken to the governor about it and an Obama spokesman said Axelrod had "misspoke."

Democrats Blagojevich, Obama, Chicago Mayor Daley's brother

It also was learned today that the Chicago Tribune had dug out the story last October about the Democratic governor's shakedowns of campaign contributors and state contractors as well as the parent company of the Tribune itself, but had not published the story at the request of the prosecutor, who said it would interfere with the ongoing investigation. What effect might this sordid story of political corruption have had on the presidential election if published in October?

Gov. Rod Blagojevich arrested, charged

U.S. Attorney Patrick Fitzgerald said today that federal authorities arrested Democratic Gov. Rod Blagojevich today because the governor went on "a political corruption crime spree" that needed to be stopped.

U.S. Attorney Patrick Fitzgerald said today that federal authorities arrested Democratic Gov. Rod Blagojevich today because the governor went on "a political corruption crime spree" that needed to be stopped.

Fitzgerald said secret tape recordings showed Blagojevich was attempting "to sell the U.S. Senate seat" that President-elect Barack Obama recently vacated. The governor has the sole power to pick Obama's replacement under the state constitution.

"The conduct would make Lincoln roll over in his grave," Fitzgerald said, quoting Blagojevich as saying the Senate seat is "a bleeping valuable thing. You just don't give it away....I've got this thing and it's bleeping golden."

Blagojevich wasn't against the corrupt deal for the Senate seat, he was against "being stiffed in the corrupt deal," Fitzgerald said.

more ...

And read the whole Criminal Complaint here. It's amazing.

The fiscal crisis will be on everyone's minds for quite awhile.

The world financial network hangs together because of confidence.

What shattered that confidence was the bursting of the housing bubble and the defaults beginning with the subprime loans encouraged, indeed, required by Democrats in Congress led by the likes of Massachusetts' own Congressman Barney Frank. Frank and other Democrats also twisted arms at Fannie Mae and Freddie Mac to buy the risky loans and package them up and send them around the world with the implicit U.S. guaranty behind them. Frank, the top Democrat in the House of Representatives on financial matters, kept telling concerned Republicans that Fannie and Freddie were in great condition and that no reform or new regulation was needed. Frank convinced fellow Democrats in the Senate this was the case and together they blocked reform legislation in 2003, 2004, 2005 and 2006.

What percent of Massachusetts -- and U.S. -- residents know that Democratic policies and actions cost them 30-50% of their life savings?

"Who blew that hole in your IRA?" Barney Frank. But he wasn't alone.

Of course, the voluble Frank is on the airwaves regularly blaming everyone else but himself and his colleagues, The Democrats in Congress worked hard to get their constituents who couldn't afford homes to get "subprime" (that is, very risky) mortgage loans. They got the loans all right, they got their homes, but when the housing bubble burst their mortgage defaults caused them agony and in many cases the loss of their homes.

The collapse of the subprime market triggered the financial panic that has cost the world trillions and frozen the credit system, leading to job as well as financial losses.
Democrats are now once again hard at work, this time figuring out how much of taxpayers' money will be poured into the black hole they created in the hope they will avert the Depression that their good intentions and bad judgment has hurtling towards us

After all, as Frank says, there are plenty of rich people out there to tax.

The whole sorry tale of Democratic responsibility is still being written, but a good start would be here and here.

President Bush signed and sent to Congress two years ago the Colombia Free Trade Act, which the law requires Congress to have an up-or-down vote on within a short period of time. Speaker of the House Pelosi, to please her union supporters, twisted House rules, to take it out of the required process. Michael Barone called Pelosi's action the most despicable act of this Congress.

Colombia is our closest ally in the hemisphere and a valiant partner in the fight against drug trafficking. President Uribe has done a superb job weakening the drug cartels and making Colombia safer. One couldn't ask for better cooperation.

Democrats, including President-Elect Obama, have supported Pelosi in her determination to let the trade agreement die, despite the fact it is beneficial to American exporters.

Suddenly, out of nowhere, after many months of silence, the New York Times editorialists tell Congressional Democrats they should approve the Colombia agreement now. They cite all the positive reasons and also accurately describe the progress that has been made on some of the troubling history in Colombia. Bottom line: The Times said approving the agreement is in the nation's interest.

Let's see if this is sufficient cover for Obama and Pelosi to put the nation's interest before the wishes of their union supporters.

New York Times
November 18, 2008
Pass the Colombian Trade Pact
We don’t say it all that often, but President Bush is right: Congress should pass the Colombian free-trade agreement now.

Mr. Bush signed the deal two years ago. The Democratic majority in Congress has refused to approve it out of a legitimate concern over the state of human rights in Colombia and less legitimate desires to pander to organized labor or deny Mr. Bush a foreign policy win.

We believe that the trade pact would be good for America’s economy and workers. Rejecting it would send a dismal message to allies the world over that the United States is an unreliable partner and, despite all that it preaches, does not really believe in opening markets to trade. There is no more time to waste. If the lame-duck Congress does not approve the trade pact this year, prospects would dim considerably since it would lose the cover of the rule (formerly known as fast track) that provides for an up-or-down, no-amendment vote.

Because of trade preferences granted as part of the war on drugs, most Colombian exports already are exempt from United States tariffs. The new agreement would benefit American companies that now have to pay high tariffs on exports to Colombia.

It also would strengthen bonds with an important ally in a volatile corner of South America — that also is the main source of cocaine shipped into this country and where the United States has very few friends these days.

In neighboring Venezuela, President Hugo Chávez spouts fierce anti-American rhetoric to distract attention from his autocratic policies. Last month, Bolivia expelled the United States ambassador and accused Drug Enforcement Administration agents of conspiring against his government. Ecuador has refused to renew a lease on an airbase used by American counternarcotics flights in the coastal city of Manta.

We, too, have strong concerns about human-rights violations committed by the government of President Álvaro Uribe. But Democrats opposing the trade pact on these grounds are ignoring undeniable improvements. Violence has abated considerably during the Uribe administration as it has taken on the left-wing guerrillas of the Revolutionary Armed Forces of Colombia, or FARC, and right-wing paramilitaries. The number of trade unionists killed, a major Democratic concern, is still too high but has dropped sharply.

Washington must keep pressing Bogotá to reduce abuses by Colombia’s Army, ensure the prosecution of paramilitary thugs and further rein in violence against union members. It has a powerful tool to do that: $600 million a year in mostly military and anti-narcotics aid.

Failing to approve this trade agreement would do nothing to improve Colombia’s human-rights record. Walking away from it now would alienate many people in Colombia and undermine Washington’s credibility.

Dr. Sowell looks ahead to what he fears will happen when Democrats take control of the White House with strong majorities in both Houses of Congress.

Wars, economic crises and other disruptions all provide opportunities for the left to seize on current problems to create enduring changes in the institutions of society. That is what we are witnessing today. . . .
It is not just a question of being able to put scare headlines on newspapers or alarmist rhetoric on television. Such things are just the prelude to massive political "change" in fundamentally sound institutions that have for more than two centuries made the American economy the envy of most of the world.

If the left succeeds, it will be like amputating your arm because of a stomach ache.

To add to the painful irony, many of those who are most eager to have a massive government intrusion into the market are among those whose previous intrusions into the market are largely responsible for the current financial crisis.

It was the left-- the "liberals" or "progressives"-- who led the charge to force lending institutions to lend to people whose credit history made them eligible only for "subprime" loans that were risky for both borrowers and lenders.

Read it all.

Thomas Sowell is the Rose and Milton Friedman Senior Fellow on Public Policy at the Hoover Institution. Over the past three decades, Sowell has taught economics at
various colleges and universities, including Cornell, Amherst, and the University of California at Los Angeles, as well as the history of ideas at Brandeis University. He has also been associated with three other research centers, in addition to the Hoover Institution. He was project director at the Urban Institute from 1972 to 1974, a fellow at the Center for Advanced Study in the Behavioral Sciences at Stanford University in 1976–77, and was an adjunct scholar of the American Enterprise Institute in 1975-76.

Sowell was awarded the National Humanities Medal in 2002. In 2003, Sowell received the Bradley Prize for intellectual achievement. Sowell received his bachelor’s degree in economics (magna cum laude) from Harvard in 1958, his master’s degree in economics from Columbia University in 1959, and his Ph.D. in economics from the University of Chicago in 1968.


Democratic policies promoting mortgage loans to those who couldn't afford them created the housing boom and bubble and its collapse that was at the heart of the worldwide financial panic that has cost American savers hundreds of billions of dollars of losses in their life savings. There was a chance to head off disaster in 2005 and 2006 but Democrats in the Senate led by Harry Reid and supported by Barack Obama and other Senate Democrats blocked the Republican bill to rein in Fannie Mae and Freddie Mac. House Democrats led by Pelosi and Barney Frank backed them up. The Democrats who pushed such policies deserve to be rejected. They sought to "spread the wealth" and instead impoverished tens of millions.

However, the most important decision on November 4th is electing our Commander-in-chief.

These are dangerous times, it is a dangerous world. Many don't want to think about it, but Islamic radicals are waging a world war against Western Civilzation targeting first and foremost the United States. Battlefronts are in Iraq, Afghanistan, Pakistan, Somalia, Lebanon, Israel, Nigeria, across all of Western Europe and in the United States, Canada and Australia. In some places it's active warfare, in others, terrorism, in others, subversion of our values and way of life to replace them with Islamic law. And Russia and China are building military strength while Iran seeks nuclear warheads for its long-range missiles.

Only John McCain is qualified and fit for the job of Commander-in-Chief. 69% of our military polled agree. McCain loves America and will do his utmost to protect it. Obama finds it difficult to say a good word about America. He constantly disparages America, it's bad and it needs to be changed.

Not only is Obama unqualified, he denies the importance of these threats, has pledged to slash our military to help fund new welfare programs and seems to believe appeasement and a weakened military will bring us peace in our time, just as Neville Chamberlain did in 1939. What prize would he offer up to Iran as Chamberlain offered (and gave) the Sudetenland to Hitler? No wonder Israelis polled prefer McCain by a wide margin.


The media is now joining Obama is playing the race card. And here. Simply put, if you don't vote for Obama, you're racist. You have no legitimate reason not to.

1. That you're troubled by the elite media's attempt to force you to vote for Obama to prove you're not a racist, is no reason.

2. That you're troubled by Obama’s constant playing of the race card, first against Hillary Clinton, then against John McCain and now against anyone who raises a question or a criticism, is no reason.

3. That you're troubled by his fixation on black power and dislike of whites as revealed in his own books in which he approvingly refers to "white men's greed" as the cause of the world's problems, is no reason.

4. That you're troubled by his attraction to Marxist socialist principles that began in high school and continued through college where he “hung out” with black power advocates and Marxist socialists and distanced himself from whites, as he describes in his books, is no reason.

5. That you’re troubled that he put his Marxist socialist principles into practice by becoming a community organizer of blacks against the white establishment in Chicago working with communist/socialist ACORN and other community organizers, is no reason.

6. That you're troubled by his attraction to and absorption of the communist Alinsky method of community organizing (studied in Chicago and while at Harvard Law School) in which socialist purposes are carefully hidden by sticking to platitudes like "hope" and "change" to solve every human dissatisfaction, is no reason.

7. That you're troubled by his telling Joe the Plumber he was going to impose higher taxes on him to "spread the wealth," that is, to take money away from people who pay taxes to give to people who don't pay taxes, which is pure socialism, is no reason

8. That you're troubled by his long association (as trainer, lawyer, collaborator and employer) with the communist/socialist community organization ACORN that has been involved in vote registration fraud controversies, including convictions, across the country, including this year, is no reason.

9. That you're troubled that Obama hired ACORN this year to do voter registration, knowing as he did about its record of voter fraud registration accusations, investigations and convictions (investigations of ACORN fraud are under way right now in at least 12 states), paying $320,000 to ACORN and then covering up the payment, is no reason.

10, That you're troubled that every day there are new stories of fraud involving ACORN workers in states across the nation and all the Obama campaign can say is that such reports are "a distraction" from the real issues, is no reason.

11. That you're troubled that he was an early pioneer, working with ACORN, in showing how to intimidate banks and bankers into making uncreditworthy mortgage loans to minorities and low-income people who could not afford them, which pressure tactics spread and ultimately led to the housing bubble, its collapse and the present world financial crisis and loss of hundreds of billions for investors and tens of thousands of jobs, is no reason.

12. That you're troubled that Obama, having worked closely with the communist/socialist organization ACORN throughout his entire career, recently said his views are still pretty much the same as when he helped ACORN force banks to make risky mortgage loans they never should have made and ran a voter registration drive with ACORN, is no reason.

13. That you're troubled that Obama has vowed to the communist//socialist group ACORN and other such organizations will be called in to work with him, if he's elected president, even before inauguration to shape the agenda of his administration,, is no reason.

14. That you're troubled that in just a few months in the U.S. Senate Obama was able to become the second biggest recipient, some $126,000 -- over a 20-year period -- of campaign contributions from Fannie Mae and Freddie Mac sources, is no reason.

15. That you’re troubled that when John McCain and others were proposing reforms in 2005 and 2006 to prevent a collapse of the out-of-control practices of Fannie Mae and Freddie Mac buying up far too many risky subprime mortgage loans, Obama instead sided with Barney Frank and Christopher Dodd in opposing reform, thus bringing on the present world financial crisis, indeed being quoted saying subprime loans were a good thing, is no reason.

16. That you're troubled by his association with people who hate America such as white hater Jeremiah Wright, unrepentant admitted terrorist bomber and self-described communist William Ayers (who said in 2001 the mention of America "makes him want to puke"), Nation of Islam’s Louis Farrakhan, former PLO spokesman Rashid Khalidi and nutcase Father Michael Pfleger, is no reason.

17. That you're troubled that he was attracted in the first place to black power, white-America hater, anti-Semitic pastor Jeremiah Wright and stayed with him for 20 years, knowing he was a follower of black liberation theology that preaches that any god that is not exclusively on the side of the blacks against whites must be killed, is no reason.

18. That you're troubled that he lied about never in 20 years hearing Jeremiah Wright make any of his anti-America and anti-white speeches, but then admitted he had when his campaign advisors realized the lie could be easily disproved, is no reason.

19. That you're troubled that he brought his young children to Jeremiah Wright's sermons Sunday after Sunday to listen to his bigoted tirades against whites and his hateful harangues against America, is no reason.

20. That you’re troubled that he helped Nation of Islam’s anti-Semitic Louis Farrakhan organize the Million-Man March in Washington and that Farrakhan has called Obama the messiah for black Muslims, is no reason.

21. That you're troubled that, working for years jointly with unrepentant terrorist bomber William Ayers, who describes himself as a communist, Obama funneled $150 million to fund programs to turn Chicago teachers and students into socialist revolutionaries who hate America, is no reason.

22. That you're troubled that, working jointly with America hater William Ayers, Obama directed charitable funds to separatist Afrocentric, America-hating programs designed by allies of Jeremiah Wright, while denouncing “the unrealistic politics of integrationist assimilation,” is no reason.

23. That you're troubled that, working jointly with America hater William Ayers, Obama, "to change America," directed charitable funds to the communist/socialist ACORN that was intimidating banks to make unsafe mortgage loans and engaging in voter registration fraud, as he well knew, is no reason.

24. That you're troubled that Obama continued his collaboration with Ayers after Ayers allowed himself to be photographed for the cover of Chicago magazine in 2001 standing on the American flag and telling an interviewer the thought of America made him "want to puke," is no reason.

25. That you're troubled that, working jointly with admitted terrorist bomber William Ayers, he steered charitable funds to an Arab-related organization that handed money over to a Palestinian terrorist organization, is no reason.

26. That you're troubled by Obama’s decision to go inside the Chicago Daley Democratic patronage and payoff political machine (often called by Chicago newspapers the “corrupt” Daley Democratic political machine) and become a go-along, loyal member of the machine, which is now running his campaign, is no reason.

27. That you're troubled that as an Illinois state senator Obama refused to support reformers against the Daley patronage and payoff machine, but supported the Chicago Democratic political machine at all times, is no reason.

28. That you’re troubled that in his first run for public office he was able to force all three Democratic opponents off the primary ballot to run unopposed, which if not unprecedented is so highly unusual as to raise questions about the objectivity of Democratic election officials beholden to the Daley political machine which Obama supports, is no reason.

29. That you're troubled by the fact that he is the most extreme advocate of abortion in public life, having pledged to Planned Parenthood as president he would like his first act as president to be signing a bill removing all restrictions on abortion, including partial birth abortion which 75% of all Americans oppose, is no reason.

30. That you're troubled by the fact that he engineered the defeat of a bill in the Illinois senate to protect babies who survive a failed abortion (and then lied about it), a bill that was identical to one that passed Congress unanimously, is no reason.

31. That you're troubled by his callous statement that, if either of his girls made a mistake, he wouldn't want them "punished with a baby," is no reason.

32. That you're troubled by his wife's statements that only now, for the first time in her adult life, she's proud of her country, is no reason.

33. That you're troubled by his wife's view of America as “just downright mean,” is no reason.

34. That you're troubled by his view of America as having done harm to the world for which he must apologize (in Berlin, to Germans no less), is no reason.

35. That you’re troubled that he so often seems ashamed of America, speaking ill of it, as in Berlin, is no reason.

36. That you're troubled that Obama didn't put hand to heart during the national anthem until his advisors told him to, is no reason.

37. That you're troubled that Obama left injured servicemen and women waiting at a military hospital in Germany when he canceled a scheduled visit to work out at a gym, is no reason.

38. That you're troubled that he is so naive that he can say tear down the walls between Muslims and Jews (as in Israel?) and there will be peace, is no reason.

39. That you're troubled by his statements in support of the Palestinian cause and his support by a former member of the terrorist-listed PLO Rashid Khalidi, who is now the director of the most rabid anti-Israel Middle East Studies department in the U.S, is no reason.

40. That you're troubled by his lukewarm and equivocal statements about Israel (for an undivided Jerusalem one day, opposed the next), is no reason.

41. That you're troubled by his vocal support by leaders of Hamas and the lack of support by a leading Israel statesman and author such as Natan Sharansky, is no reason.

42. That you're troubled that Obama's running mate Biden is reported to have told Israelis they had just better get used to the idea of a Iran with nuclear warheads on missiles that can destroy Israel, is no reason.

43. That you're troubled that Obama declined to appear at an anti-Iran rally sponsored by Jewish organizations and made sure that Sarah Palin was disinvited, is no reason.

44. That you're troubled that all Obama wants to do is talk and talk with the leader of our deadly enemy Iran and do nothing of consequence to stop their development of nuclear weapons, is no reason.

45. That you're troubled by his position well over a year ago to withdraw troops from Iraq on a fixed timetable regardless of conditions and to oppose the surge that was not only dangerous for our troops but would have resulted in al-Qaeda taking over Iraq as its new world headquarters, with riches like oil and gas that Afghanistan cannot even dream of, is no reason.

46. That you're troubled by his opposition to doing what is necessary to make America independent of hostile and unstable overseas energy suppliers by drilling for gas and oil domestically and by supporting nuclear power and clean coal along with all other alternatives, is no reason.

47. That you're troubled that Obama naively wants to cut defense spending in an increasingly dangerous world, and that Obama refuses to acknowledge the existence of the Islamic supremacist war against the non-Muslim world, is no reason.

48. That you're troubled that Obama actively and openly spoke in favor of his Muslim cousin Raila Odinga in his recent campaign for president of Kenya, during which he reportedly pledged to decree Islamic law for all Kenyans and ban Christian missionaries throughout the country, is no reason.

49. That you're troubled by his protectionist statements supporting unilaterally repealing NAFTA and opposing the free trade agreement with our hemishere's closest ally Colombia, and his lying about the facts to justify his opposition, is no reason.

50. That you're troubled that he wants to end secret ballots in union elections so as to increase the power of union intimidation, is no reason.

51. That you're troubled that he is so obsessed with himself, appears to be such a narcissist, that he can tell a campaign gathering that light will come down from above and convince them to vote for The Obama, is no reason.

52. That you're troubled that when you look at his record of accomplishment you only see that he has written two books about himself (partially fictionalized, possibly ghost written), graduated from college and law school, spent four years in socialist community organizing, and years in the Illinois senate (voting present 130 times) toeing the Democratic machine line -- and gave a nice speech at the 2004 Democratic National Convention, is no reason.

53. That you're troubled that he had for years as a major fundraiser (at least $250,000) Syrian-born political fixer and slumlord Tony Rezko, who has been convicted on 16 counts of political corruption, is no reason.

54. That you're troubled that while Rezko was being investigated on corruption charges and reportedly in debt for more than $10 million, Rezko's wife (said to have no assets of her own and income of only $37,000 as a city worker) somehow made it possible for him to buy his dream house in the upscale Hyde Park section of Chicago by buying an adjacent empty lot for full price ($625,000) while Obama purchased his house and lot for a $300,000 discount ($1.65 million) from the same seller on the same day, is no reason.

54. That you're troubled that Rezko's wife shortly thereafter sold a strip of land from the adjacent empty lot that Obama wanted for one-sixth her purchase price, paid for a fence Obama wanted between the properties, then sold off the lot to one of Rezko’s attorneys for an undisclosed price, is no reason.

55. That you're troubled by his plan to give $50 billion of American taxpayer money to the corrupt United Nations for a new anti-poverty program, is no reason.

56. That you’re troubled by his socialist “tax cut” plan to take more money from those who earn it – including imposing higher taxes on hundreds of thousands of small businesses -- and make welfare payments to the 44% (63 million) of American’s who pay no income tax, is no reason.

57. That you're troubled that Obama is hiding so much of his record, that he has refused to allow access to information or has blocked research about his past, such as his joint socialist programs with William Ayers in Chicago, the official State of Hawaii birth records, his Columbia College and Harvard Law School records and years and his ideological affiliations before joining Jeremiah Wright's church, is no reason.

58. That you’re troubled that his campaign has apparently raised tens of millions of dollars from sources outside the country in deliberately small sums (under $200) to avoid federal reporting requirements and the campaign has no controls to identify such sources, some of which are clearly fraudulent, whereas the McCain campaign can track every dollar, is no reason.

59. That you're troubled by what Michael Barone calls the thug tactics of the Obama campaign to silence all criticism with cries of “lies,” “discrimination,” racism,” including even discussion of Obama's socialist and machine partisan activities in Chicago, and that Barone fears an Obama Administration "thugocracy" stifling First Amendment rights, is no reason.

60. That you’re troubled that Obama’s socialism smacks of totalitarianism, as his campaign’s efforts to shut down free speech shows, is no reason.

61. That you’re troubled that Obama is rated the most far left senator in the U.S. Senate, a radical with a socialist agenda "to change" an America he is not proud of to something we will not like, and who is blind to the defense needs of the United States, is no reason.

62. That you're troubled that Obama is so "flexible" and evasive when it comes to telling the truth and just plain lies, is no reason.

63. That you're troubled that he could coldly dismiss the legitimate fears of the white grandmother who raised him as those of a "typical white person," is no reason.

64. That you're troubled that the Chicago Democratic machine that is running his campaign may be intending to take its patronage and payoff operations onto the national stage, at staggering cost to American taxpayers, is no reason.

65. That you're troubled by his elitist attitude towards simple working people, sniffing at them for clinging to their God and their guns, is no reason.

66. That you're troubled by the many, many times that Obama misstated historical facts to suit his own agenda, including misdescribing his past positions, and that the mainstream media did not challenge Obama’s statements, is no reason.

67. That you're troubled by the hypocrisy and double standard of the elite media that can proudly report that 95% of blacks now say they're voting for Obama, but can express horror that some white Americans might vote for McCain, which they assert can only be for racist reasons, is no reason.

68. That you're troubled that the elite media, which has decided it wants a Democratic black president now, whoever it is, qualified or not,, has deliberately avoided its obligations to the American public by refusing to do any detailed investigation into who Obama really is, his alliances, involvement in sleazy machine politics and his history, so that all that exists is the fictionalized narrative contrived by the Chicago Daley Democratic machine that is running his campaign, which leaves too many questions unanswered and voters still wondering "Who is Barack Obama?", is no reason.

69. That you're still troubled about who Obama really is though you are deeply troubled about what you know already and wonder what else he may be hiding, is no reason.

70. That you're troubled that Obama appears to be cleverly hiding who he is, presenting a false image to the world as postpartisan, moderate and a healer, when he is none of those, as his record shows, is no reason.

71. That you're troubled that Obama, if elected, may have a Democratic House and Senate, to implement his extreme socialist agenda of higher taxes, trade protectionism, stifling free enterprise, stifling free speech, enacting extreme pro-abortion policies such as reviving partial-birth abortion, relaxing our defense vigilance, cutting defense spending and increasing taxpayer funding to subversive organizations such as ACORN, is no reason.

72. That you're troubled that foreigners see things so much more clearly than our media and view the president candidate Obama as having a "nexus comprising black power anti-white racists, Jew-haters, revolutionary Marxists, unrepentant former terrorists and Chicago mobsters," is no reason.

73. That you're troubled that, as Professor Thomas Sowell notes, John McCain and Sarah Palin have not spent "decades working with people who hate America" and Obama has, is no reason.

74. That you're troubled that, as Professor Thomas Sowell also notes, the values of John McCain and Sarah Palin "are the values of this nation, whose loyalty and dedication to this country’s fundamental institutions are beyond question" and this cannot be said about Obama, is no reason.

75. That you're troubled by reports that as much as $63 million in campaign contributions to the Obama campaign in amounts smaller than the $200 required to be reported federally are from foreign sources, may be illegal, are not tracked by the Obama campaign though McCain tracks ALL his contributions, and more than 80% of all Obama contributions are not identified and may not be identifiable, is no reason.

76. That you're troubled that the Obama campaign had deliberately collected tens if not hundres of millions of illegal contributions by disabling all security settings on online credit card systems so as to facilitate fake and foreign contributions and contributions over the limit and have no controls for contributions under $200 though the McCain campaign has all such controls, obviously seeking to steal the election and disenfranchise American voters, is no reason.

77. That you're troubled by the Gestapo tactics against Obama critics like the attacks on Joe the Plumber and throwing reporters off the campaign plane whose organizations endorse McCain, is no reason.

That you're troubled that if you don't vote for McCain/Palin you will be doing a dangerous disservice to your country and generations of Americans is no reason, either.

The following is a copy of an ad placed by the Chatham Republican Town Committee, Walter Bilowz, Chairman, in this coming Thursday's Cape Cod Chronicle:


This campaign has brought up two major issues, the redistribution of income and the redistribution of wealth.

Joe the Plumber said to Obama "your new tax plan is going to tax me more, isn't it?"
Obama replied "I think that when you spread the wealth around, it's good for everybody."

With this, Obama declared his intention to redistribute the tax dollars which you paid on the income which you earned. Currently, if the Earned Income Tax Credit (E I TC) exceeds a taxpayer's tax liability, the IRS refunds the difference. That is, the government takes your tax money and gives some of it to someone who qualifies for the EITC. This is a redistribution of the tax money which you paid on the income which you earned. Obama would expand this with his tax plan to further distribute more of your tax money in order to "spread the wealth around". Obama calls this a tax cut for 95% of workers! He does not stress that approximately 40% of these workers pay no taxes and thus would be receiving a cash benefit (an entitlement).

However, Obama's intent to redistribute does not end with redistribution of your income. He is on record as favoring redistribution of your wealth, which includes your retirement funds. On a Chicago program, Odyssey, station WBEZ, in 2001, he stated that redistribution of wealth was a …”basic issue of political and economic justice in the society.” He indicated that redistribution of wealth could be accomplished by legislation.

The US News and World Report published a story on October 23, 2008, when they uncovered consideration of potential legislation to eliminate 401(k) plans (retirement plans) and take control of the retirement plan savings of Americans. This was in the Subcommittee on Income Security and Family Support which is chaired by Representative James McDermott, Democrat of Washington. Under the plan, your retirement money would be transferred into a government account invested in government bonds and paying around 3%. In addition there would be a loss of preferential tax treatment and a mandatory contribution imposed on workers. There is approximately $4.5 trillion invested in 401(k) plans in the US. This would be the largest loss of wealth and seizure of private assets in world history. It would far exceed the amounts recently seized by the government of Argentina in their nationalization of pension funds. The leftist government wanted to use the funds for their agenda.

If we elect Obama, a Democrat, as president, and a Democratic Congress, what is it that would stop a radical assault on the income that you earn, and on the retirement wealth which you accumulate? It happened in Argentina!

Three Democrats stand out as responsible for costing Americans much of their life savings in the name of putting more people into affordable housing that turned out to be not affordable at all.

The three Democratic politicians who, not accidentally but deliberately, undermined the American financial system and caused this global catastrophe are Barack Obama, Massachusetts Congressman Barney Frank and Connecticut Senator Christopher Dodd.

What is driving the world collapse of the stock markets? What is causing the savings of Americans to shrivel up? Democratic policies.

Yes, it's the world financial credit freeze-up. But what triggered the freeze-up? Democratic policies.

It was the defaults of subprime mortgages packaged and sold by Fannie Mae and Freddie Mac around the world. But what caused the defaults? Democratic policies.

Who made banks make unsafe mortgage loans? Well-intentioned Democrats who thought it would be "fair" for people who couldn't afford houses to get them.

Who made Fannie Mae and Freddie Mac buy up those bad loans and palm them off on the world? Democrats in Congress pressured by interest groups such as Obama's ally ACORN.

The cost to investors so far has been hundreds of billions of dollars. American workers who have invested in mutual funds and 401(k)s have suffered badly. People are losing their jobs because of this crisis.

The following account is the story the mainstream media will not tell the American people because they fear it would jeopardize an Obama victory. It will be a travesty and a tragedy for Americans if Democrats capture the White House and Congress after their policies brought on this worldwide catastrophe.

It will be too late after the election to document the involvement of Obama and his Democratic colleagues, whose zeal to change America into a socialist state brought disaster to the world. You know what will happen: Democrats will convene hearings with their favorite witnesses to blame anybody but themselves. Democrats don't like the free enterprise system they meddle with and in this case brought crashing down.

Democratic policies brought on the housing bubble and its collapse, the default of U.S. backed obligations all around the world and panic everywhere. Democrats are pointing the finger at Wall Street, but that doesn't wash. Wall Street was packaging and selling Fannie and Freddie mortgage loans for years. What happened was Fannie and Freddie started buying up so many subprime loans that the packages they were now sending around the world were junk, but still backed by the implicit guaranty of the U.S. government so people, banks and governments bought.

Fannie and Freddie abandoned their obligation to protect the taxpayers of the United States to please the Democratic congressman who were pressing them to expand the subprime mortgage loan market by buying risky loans and giving banks and mortgage companies more money to make more risky loans.

President Bush and Senate Republicans including Senator McCain pleaded with Congress in 2005 and 2006 to pass legislation to get Fannie and Freddie under control. Senate Republicans even got a bill to do just that out of the Senate Banking Committee (S. 190), but Senate Democrats led by Senator Harry Reid and Christopher Dodd, with the vocal backing of Massachusetts Congressman Barney Frank, said there was no crisis and blocked a vote on the Senate floor. As a Democratic U.S. Senator Obama supported their action.

How key was Obama's role? Obama helped train ACORN operatives in the early 1990s how to bully and intimidate banks and bankers into making risky mortgage loans to those who couldn't afford them, shouting cries of "discrimination" and "racism." Obama was one of the very first pushing for such unsafe loans to be made. Those cries kept building through the '90s and into this decade. As a result, riskier and riskier mortgage loans were made and Fannie and Freddie was pressured more and more by Democrats in Congress to buy the unsafe mortgage loans and send them off in packages to the world as if they were of the same quality they had been in the past. They weren't. Obama lived to see the colossal damage done by his policy of intimidation of banks and indeed to help give the final push to disaster by opposing reform of Fannie Mae and Freddie Mac as a senator in 2005 and 2006. Despite the world chaos and massive losses to American investors, Obama as late as 2007 was still insisting subprime mortgages were a "good idea."

To read about the roles of the other two principal destroyers of savings, click here. Also, look for the heading Categories on the right side of this website and click on Democratic Financial Crisis.

Who are the fathers of today's world financial meltdown?

Who has cost investors hundreds of billions and workers hundreds of thousands of American jobs? Who has put the world on the edge of a Depression?

Three Democratic politicians who, not accidentally but deliberately, undermined the American financial system: Barack Obama, Massachusetts Congressman Barney Frank and Connecticut Senator Christopher Dodd.

The following account is the story the mainstream media will not tell the American people because they fear it would jeopardize an Obama victory. Maybe after the election they will document the involvement of Obama and his Democratic colleagues, whose zeal to change America into a socialist state brought disaster to the world.

Obama's tax plan, he says, will give 95% of Americans an income tax cut. That's odd; 44% of Americans don't pay any income tax at all. What will happen is that the 44% will get a check from the government paid for by those who do pay taxes -- you. In other words, Obama is using his tax plan for welfare. He just wants to, in his words, "spread the wealth around." At the heart of Obama's "change for America" is socialism and increased reliance on the government for more handouts.

Since Obama believes, along with anti-white America Jeremiah Wright and self-described communist Willam Ayers, that America oppresses its non-white low income minorities, it is only just and fair that those who have earned enough to pay taxes hand some of their money over to those who haven't.

Power Line has the video of Obama's retort to a plumber who has figured out he's going to pay more under Obama's "tax cut" plan. Power Line also excerpts the Wall Street Journal's explanation of how Obama is undoing welfare reform as a first step to his new socialist society to replace the free enterprise system that has created the world's most successful economy.

Obama's "tax" plan would in effect undo the greatest accomplishment of the Republican Congress, welfare reform. It would reinstate the federal welfare system that we thought was gone for good with the repeal of AFDC. Not only a welfare system: a welfare system that would rapidly grow from more than a half trillion to over a trillion dollars a year.

ACORN is a communist/socialist organization whose mission is to "change America.,"

Barack Obama has been allied with ACORN since at least 1992 in its efforts to "change America." He has trained ACORN workers in how to intimidate banks and bankers into making mortgage loans they should not make and how to register voters. Obama ran a voter registration drive himself with ACORN in the early 1990s. Obama has represented ACORN in suing to "change America."

The kind of unsound loans that ACORN forced banks to make in its mission to "change America" are at the heart of the housing bubble, its collapse and the financial wreckage now destroying the savings of Americans and costing American jobs.

ACORN also has been working to "change America" by massive voter registration fraud to register Democratic voters. This year it claims it has registered 1.7 million new voters; one can guess the percentage of Democrats. Voter registration fraud investigations involving ACORN are ongoing in 12 states right now. Obama paid ACORN over $800,000 this year for voter registration despite its long and notorious involvement in voter registration fraud complaints, investigations and convictions. One recent report is of a young man bribed by ACORN with "cash and cigs" to sign up 72 times.

ACORN did not stop with intimidation of mortgage lenders to force them to make bad loans. Stanley Kurtz details how ACORN moved on to Congress to get Democratic support for throwing sane lending standards out the window and authorizing Fannie Mae and Freddie Mac to buy up these unsound loans from mortgage lenders. The present world financial crisis is the result. As Kurtz notes, "the bad seed that started it all was ACORN."

HOW does Barack Obama fit into all of this? Obama has been a key ally of Chicago ACORN going back to his days as a community organizer.

Later, as a young lawyer, he offered leadership training to the activists who were forcing Chicago banks into high-risk subprime loans. And when he made it on to the boards of Chicago's Woods Fund and the Chicago Annenberg Challenge, he channeled money ACORN's way.

Obama was perfectly aware of ACORN's intimidation tactics - indeed, he oversaw a Woods Fund report that boasted of managing to fund the radical group despite its shocking behavior.

And as a lawmaker, in Illinois and in Washington, he has continued to back ACORN's legislative agenda.

And allied with ACORN in Congress in pushing to loosen mortgage lending standards was none other than Massachusetts Congressman Barney Frank. And later, in 2005 and 2006, it was Barney Frank, Senators Christopher Dodd and Barack Obama who blocked efforts of the President and John McCain and other Republicans to stop Fannie's and Freddie's dangerous subprime mortgage purchase programs that brought on this world financial crisis.

The kind of change Obama's bad judgment has already brought to America has cost the nation dearly in dollars, lost jobs and the integrity of the voting system. Will voter fraud nonetheless win him the election?

Read the appalling story in its entirety.

It isn't often that one can identify with precision the principal culprits who cause a disaster, but that is not the case with this financial crisis. We know who. It's Frank, Obama and Dodd.


At its heart is the housing bubble and its collapse largely due to the explosion of subprime loans to those who reality has proven couldn't afford them.

Democrats and community agitators like Barack Obama pushed -- intimidated and terrorized -- banks to make mortgage loans they would never make in their sound business judgment. Subprime loans rose from 2% of total loans to 30% in just four years -- 2002 to 2006. And Fannie Mae and Freddie Mac bought most of them, to the relief of the banks who made the loans under pressure from Clinton-era Community Reinvestment Act rules, urged on by Massachusetts Congressman Barney Frank and Connecticut Senator Christopher Dodd.

Barack Obama, fresh out of college, learned the practices of intimidation as a community organizer. He soon realized he could accomplish more working for his socialist goals inside the system rather than from the outside. So he went to law school to learn how to wield power on higher levels. During his time at law school, he learned even more about the Alinsky community organizing tactics of intimidation by moonlighting at the Industrial Areas Foundation. On his return to Chicago, Obama, working for ACORN, was a pioneer in forcing unsound loans to be made, training those who terrorized banks, bankers and public officials into making loans they shouldn't have. (He also ran a voter registration drive for ACORN, which has been implicated in voter registration fraud time and time again.)

Meanwhile, Frank and Dodd in the U.S. Congress were pushing Fannie and Freddie to buy up those shaky loans, stamp them with the U.S. guaranty and sell them to buyers around the world. As a consequence, subprime loans mushroomed.

Frank and Dodd blocked Bush and McCain efforts to restore sanity to Fannie and Freddie. When the Bush Administration together with Senate Republicans, including John McCain, tried to rein Fannie/Freddie in in 2003, 2005 and 2006, Democrats led by Frank and Senator Christopher Dodd blocked all those efforts, scoffing that there was no Fannie/Freddie crisis. Obama, who in earlier years had worked to force banks into subprime lending, of course did nothing and remained silent, while collecting over $100,000 in campaign contributions from Fannie and Freddie. In fact, as a senator he was quoted as saying that a subprime loan was a good thing.

The inevitable collapse occurred. Fannie and Freddie had spread so much subprime debt around the world, panic resulted.

As Obama's Reverend Jeremiah Wright said in another context, the Democratic chickens have come home to roost, but these three haven't suffered, It's average Americans who have lost hundreds of billions in their savings because of the reckless policies of Frank, Obama and Dodd.

Socialist agitators such as Saul Alinsky, whose methods Obama studied and applied in his community organizing and lawyer days in Chicago, believed the best way to get to a Marxist socialist society is to create chaos and bring the free enterprise system down, while blaming it for all the problems his followers helped to create. Was financial chaos in the Obama vision as a prelude to a socialist society? If so, Marxist revolutionary change is at hand. That hundreds of millions have suffered in the process is just an unfortunate side effect of creating a more humane, more just socialist society. Obama made it clear that higher taxes will be the start of Obama's socialist program of wealth redistribution, taking what's yours to those who claim it should be theirs.

Those who could not afford their mortgages and now face foreclosure, the government will not only give them interest relief, it will reduce the mortgage principal (that is, the money borrowed in the first place) and stretch out payments for up to 50 years. If the house wasn't affordable before, it certainly will be now. (Section 110 of the bailout bill.) If you are struggling but making your payments to protect your home, you get no relief from section 110. Only the deadbeats benefit.

It may seem complicated, but it's really simple.

Subprime loans created the housing bubble. When the housing bubble broke, the crisis spread throughout the world since Fannie/Freddie obligations were held by central banks and commercial banks in all countries. They bought because the obligations were sold by government-sponsored agencies, so of course the U.S. government stood behind them. Rating agencies agreed and rated the paper AAA, triple-A, the highest and safest rating there is.

But those at Fannie/Freddie were working to please their Democratic sponsors in Congress and ignored the lack of creditworthiness that was increasing in the portfolios they were selling. The much maligned Wall Street firms relied on Fannie and Freddie to assemble creditworthy packages that protected the credit of the U.S,, which was their prime responsibility. Fannie and Feddie officials such as Raines and Johnson, both advisors to the Obama campaign, are the ones at Fannie who failed to protect the American people.

Now Barney Frank is trying to deflect criticism of his socialist profligacy by claiming that any criticism of the subprime loan explosion is a Republican slam at black borrowers. In other words, criticism of the disaster they created is racist.

How pathetic.

Investor's Business Daily does an excellent job of summarizing the sorry saga.

Barney Frank's Bankrupt Ideas

By INVESTOR'S BUSINESS DAILY |Tuesday October 07, 2008

Financial Rescue: Democrats created the mortgage crisis by forcing banks to give loans to people who couldn't afford them. Now Obama and Biden want bankruptcy judges to bail out the same deadbeat homeowners.

Barney Frank.jpg
And once again, Barney Frank is helping.

It's been said that history is a lie agreed upon. Democrats are trying to rewrite history by blaming the Bush administration for the current crisis and claiming that the rescue bill is necessary to save the economy from Republican mismanagement.

More blarney from Barney.

Last Thursday on Fox News, when Bill O'Reilly tried to suggest that both parties might share the blame, House Finance Committee Chairman Frank, in a not atypical meltdown, disowned any responsibility for his lack of oversight over the last two years and his complicity before that.

Frank also claimed: "The fact is, it was 1994 that we passed a bill to tell the Fed to stop the subprime lending. We tried to get them to do it." In other words, those rascally Republicans did it all when they took control of Congress that November.


As Democrats aided by the media have been doing all they could to blame eight years of the Bush Administration for the financial panic now circling the globe, it was Congressional Democrats who allowed the housing bubble to get out of control, leading to the inevitable collapse that was so big it has shaken the entire financial system.

It started with local agitators across the country demanding banks make loans they never should have to people who couldn't afford them. In the forefront was ACORN, the national socialist organization, terrorizing and intimidating banks, bank and public officials into loosening lending standards. The ACORN chapter in Chicago was one of the national leaders in blackmailing banks; their people were trained in their intimidation tactics by none other than Barack Obama.

Then Democrats in Congress urged Fannie Mae and Freddie Mac to buy up all these risky loans that banks were more than happy to get rid of; they didn't want to make them in the first place. Then Fannie and Freddie had Wall Street package the loans and sell them around the world. With the assumed guaranty of the U.S. government behind the securities of these public sponsored agencies everyone bought relying on the credit of the U.S.

Efforts to slow down and stop the incredible expansion of subprime loans made possible by Fannie and Freddie (from 2% of total loans in 2002 to 30% in 2006) were blocked by Democrats in Congress led by Congressman Barney Frank of Massachusetts and Senator Christopher Dodd of Connecticut. John McCan was urging reform; Obama was not. Instead, Obama in just his very short time in the Senate became the second biggest recipient over 20 years of Fannie/Freddie campaign contributions (second only to Senator Dodd).

As a result of the Democrats' "do good' socialism, taxpayers will wind up paying hundreds of billions of dollars. Investors have already lost hundreds of billions of dollars and it could get worse if the bailout doesn't succeed. Warren Buffet thinks the $700 billion bailout may not be enough to stave off recession or worse.

Before the bailout bill to rescue the financial system from Democratic excess passed, Fox News presented an excellent short summary of how it all came about.

So put the blame where it belongs -- on Obama-type Marxist socialism pushed along by Democrats in Congress.

ACORN finally is getting the attention it deserves. It is a symbol of corruption that is taking place in our banking system that has led to today's financial crisis and the corruption of the voting process. But it's more than a symbol, it is one of the major players in such corruption. And Democrats in Congress want to give it taxpayer money.

As Mona Charen points out, Democrats and Congress added a slush fund to the bailout bill to give tens of millions to ACORN to continue its "community organizing" work. Republicans reacted in disbelief and stripped the provision out.

Stanley Kurtz has reported in detail how ACORN proudly touted "affirmative action" lending and pressured banks to make subprime loans. Madeline Talbott, a Chicago ACORN leader, boasted of "dragging banks kicking and screaming" into dubious loans. And who trained those ACORN recruits who stormed banks and directors' meetings, intimidating bankers and public officials to make unsound mortgage loans? Barack Obama.

ACORN's pioneering work in forcing mortgage loans to be made that never should have been made led to the housing bubble, its collapse, the loss of homes and investments by milliions of innocent Americans and world financial chaos.

Voter registration is also one of ACORN's specialties. And despite rules about nonpartisanship being required for those receiving tax money for registration drives, ACORN somehow seems to only register Democrats.

Because they are on the side of righteousness and justice, they aren't especially fastidious about their methods. In 2006, for example, ACORN registered 1,800 new voters in Washington. The only trouble was, with the exception of six, all of the names submitted were fake. The secretary of state called it the "worst case of election fraud in our state's history." As Fox News reported:

"The ACORN workers told state investigators that they went to the Seattle public library, sat at a table and filled out the voter registration forms. They made up names, addresses, and Social Security numbers and in some cases plucked names from the phone book. One worker said it was a lot of hard work making up all those names and another said he would sit at home, smoke marijuana and fill out the forms."

Several ACORN workers went to jail. But reports like these on vote fraud involving ACORN are coming in from all over the country in this election, including from so-called swing states such as Ohio and New Mexico. Obama's campaign paid ACORN some $800,000 for work during the primary campaign to defeat Hillary Clinton (and tried to hide the payment).

[ACORN's] philosophy seems to be that everyone deserves the right to vote, whether legal or illegal, living or dead.

Barack Obama has supported ACORN since the 1980s, not only training staff in Marxist socialist tactics, but representing them as a lawyer in their campaigns of intimidation and steering charitable (and tax?) money to them to fund their radical activities. And they are going all out to elect him.

Obama was not just sympathetic -- he was an ACORN fellow traveler.
Now you could make the case that before 2008, well-intentioned people were simply unaware of what their agitation on behalf of non-credit-worthy borrowers could lead to. But now? With the whole financial world and possibly the world economy trembling and cracking like a cement building in an earthquake, Democrats continue to try to fund their friends at ACORN? And, unashamed, they then trot out to the TV cameras to declare "the party is over" for Wall Street (Nancy Pelosi)? The party should be over for the Democrats who brought us to this pass. If Obama wins, it means hiring an arsonist to fight a fire.
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