The Pink Flamingo :: How Non-Republican Conservatives Are Manipulating the "Bailout" on the Hill

Last night I emailed a friend about something that bugs me. I know it is silly and stupid, but a teacher of mine once said that the only bad question is the one not asked. So, I am asking it. Am I the only one who finds the timing of this "financial crash" a but peculiar? Sunday morning, in a fit of depression that is making me feel rather bi-polar about this whole election cycle, I called my mother. (When all else fails phone home). "This is bad. The worst thing is the Dems are going to do what-ever they can to make sure everything fails.

THE USUAL CONSERVATIVE SOURCES
The conservatives in the House are not going to go along with this thing. They can't because they are being inundated by the "usual" conservative sources. The problem is the fact that the MSM - esp. FOX does not have the brains to realize that there is a huge difference between Richard Viguerie, WHO IS NOT REPUBLICAN, and John McCain who is. Viguerie is telling the usual "Christian Sources" that McCain risks losing support over this.

"..."Conservatives are so strongly opposed to the bailout that John McCain risks undoing all his gains with conservatives if he supports it," the Chairman of ConservativeHQ.com, Richard A. Viguerie, said. "If John McCain supports this bailout, he will lose all of the goodwill and support he has gained from conservatives by picking Governor Palin as his running mate," said Viguerie....NOTE TO EDITORS: Richard A. Viguerie pioneered political direct mail and has been called "one of the creators of the modern conservative movement" (The Nation magazine), one of the "conservatives of the century" (The Washington Times), and one of 2008's "top 25 influencers" among Republicans (NewsMax magazine). His latest book is Conservatives Betrayed: How George W. Bush and Other Big-Government Republicans Hijacked the Conservative Cause (Bonus Books)...."

INSERT PROFANITY HERE ____________ ______________ _____________ ___________! I have never wanted to use profanity on my blog more than I do right now. Several months ago Viguerie joined the Libertarian Party and is working with Bob Barr and Neal Bortz. Viguerie is OWNED by Sun Myung Moon. Viguerie IS NOT Republican. Then we have Chuck Baldwin, who is running for POTUS under the Constitution Party. He has been endorsed by Ron Paul. Don't ever think this is not about the usual anti-immigration sources. Do not discount Ron Paul. Do not discount Lou Dobbs. Chuck Baldwin has a commentary that has been posted at ALIPAC.

"...Sugar Daddy Government: Another Bailout Picks America's Pockets
By Chuck Baldwin

Las Vegas, NV - Constitution Party presidential candidate Chuck Baldwin who is scheduled to address this weekend’s upcoming Conservative Leadership Conference in Las Vegas, NV, will comment on the latest government bailouts and the accelerating meltdown of the U.S. financial system.

Baldwin will speak to the annual gathering of conservative and libertarian political leaders Saturday, September 20th at 3 PM local time and is expected to say, “Our entire financial system is based on an illusion, with a foundation built on quicksand. We spend more than we earn, we consume more than we produce, we borrow more than we save – and we cling to the fantasy that this can go on forever. The glue that holds this crumbling scheme together is a fiat currency called the Federal Reserve Note, created out of thin air by an international banking cartel called the Federal Reserve. Since a ‘note’ is a debt, this leaves us with an obvious problem

"That deer in the headlights look on the faces of Obama/Biden/McCain/Palin when discussing this crisis should tell Americans everything they need to know about these candidates. Not one of them is letting on they know what’s really happening, much less how to fix it!

"In the last three years, the Federal Reserve has created over $4 trillion in new money out of absolutely nothing. As these huge new piles of phony money flood the banking system, the phony money already in circulation becomes worth even less, which leads to higher prices. We accept the vague term ‘inflation’ to describe this giant rip off, as if some immutable force of nature is the cause of our shrinking paychecks. But, make no mistake –This meltdown will ultimately spell disaster for every American.

"The roller coaster ride began in earnest with the $60 billion Bear Stearns bailout, followed quickly by the $300 billion bailout of government’s big mortgage/banker buddies last month. September started with the massive Freddie/Fannie bailout that will end up costing taxpayers somewhere between $500 billion to $1 trillion. On Monday, the fed brokered the Bank of America buyout of Merrill Lynch. Then just the other night, the fed announced the $85 billion bailout of AIG insurance, an enormous global entity with over $1.1 trillion in assets.

"So far, the only solution being talked about is more of the same failed monetary policies that got us into this mess in the first place – more fake money, more debt, more usury. It is time to demand a return to sound money. None of the other “Big Box” candidates is even talking about the most obvious place to begin the road to recovery, which is a return to the constitutional principal of sound money."

Baldwin, a conservative commentator, Internet columnist, talk show host and pastor appeared at a news conference in Washington, D.C. recently with former GOP presidential candidate, Congressman Ron Paul (R-Tex.). Paul urged Americans to bypass both major party candidates and instead vote for a candidate such as Chuck Baldwin.

Appearing on CNN’s popular Lou Dobbs Tonight program while in Washington, Baldwin was told by Dobbs, Americans had “a good reason” to vote for him.( See Lou Dobbs TV transcript and a YouTube clip of the show) ..."

This is an in-gathering of the usual anti-immigration sources. They can use John Tanton's NumbersUSA monster lobby machine and absolutely terrorize the Conservative Cowards of the Congress.

When everything crashes, the Dems will come out ahead and the GOP will be destroyed."

I hate being right.

The Democrats are behaving like their usual selves. They are going to do anything they can - not to help the economy, but to insure the GOP goes down in flames. The GOP isn't helping itself. To make matters worse we have the usual conservative (non Republican) sources demanding the GOP not go along with the "bail-out". The usual inept idealogical conservatives in the House (the guys who can't shoot straight) are not determined not only to destroy the GOP, but seriously push the country into some very bad financial times. Why can't our little Republicans in the house listen to a voice of reason like Warren Buffet?

"...'We were very, very close to a system that was totally dysfunctional, and would have not only gummed up the financial markets but gummed up the economy in a way that would take us years and years to repair,' Buffett said."

THE WORST OF THEM
True to form, Michelle Malkin does not want a 'bail-out' because, from what I gather, it might benefit illegal immigrants? She thinks we're not facing that bad a time.

"...For the last five years, I’ve reported on the rapidly expanding illegal alien home loan racket. The top banks clamoring for their handouts as their profits plummet, led by Wachovia and Bank of America, launched aggressive campaigns to woo illegal alien homebuyers. The quasi-governmental Wisconsin Housing and Economic Development Authority jumped in to guarantee home loans to illegal immigrants. The Washington Post noted, almost as an afterthought in a 2005 report: “Hispanics, the nation’s fastest-growing major ethnic or racial group, have been courted aggressively by real estate agents, mortgage brokers and programs for first-time buyers that offer help with closing costs. Ads proclaim: “Sin verificacion de ingresos ! Sin verificacion de documento !” — which loosely translates as, ‘Income tax forms are not required, nor are immigration papers.’”..."

She quotes Mark Kirkorian, one of John Tanton's flunkies, who quotes Steven Sailer, a known racist and white supremacist.

"I have no way of judging whether the Wall Street bailout is a necessary evil or an impending disaster. But we're in this mess, ultimately, because our political elites thought it was good social policy to encourage banks to give mortgages to uncreditworthy people, resulting in what Sailer months ago called the "Diversity Recession" (if this doesn't work, make that the Diversity Depression). In other words, if poor people in general, or blacks or Hispanics in particular, were less likely to be approved for a mortgage, the only possible reason was racism or classism or whatever. Thus "creditworthiness" was an illegitimate, dead-white-male concept, like middleclassness. Because, after all, isn't everyone entitled to credit? Therefore, I propose any bailout bill start with these words: "It is the sense of Congress that credit is not a civil right."

In other words, if you are Hispanic or Black, you are not to aspire to own a home. While I find the whole Fannie-Freddie thing very shady and have a heck of a lot of questions about the relationship between the twins, ACORN and Barack Obama, that's about vote fraud, not minority home ownership. Sailer wrote:

"...Uncovering the roots of the disastrous home mortgage bubble that popped last year will keep economic historians busy for decades. Yet, one factor has so far been largely overlooked: the bipartisan social engineering crusade to drive up the rate of homeownership by handing out more mortgages to minorities. More than a negligible amount of the blame for the mortgage meltdown can be traced back to multiculturalism: government-mandated affirmative-action lending, demographic change, illegal immigration, and the mind-numbing effects of political correctness....About half of all mortgages for blacks and Hispanics are subprime, versus roughly one-sixth for whites. Not surprisingly, the biggest home price collapses have occurred in heavily Hispanic cities such as Las Vegas, Miami, Phoenix, and Los Angeles....The mortgage bubble was essentially a bet on the purportedly increased creditworthiness of the bottom half of the American population. After three decades of the home ownership rate stalling at around 64 percent, a series of federal initiatives to increase minority and low-income ownership helped push the rate up to just below 70 percent...."

Evidently Newt approves of what McCain has done.

"...Today john McCain showed what it meant to put country first. He put everything on the line to try to put together a bipartisan sizable economic package to replace the failed Paulson bailout package. This is the greatest single act of responsibility ever taken by a presidential candidate and rivals President Eisenhower saying, ‘I will go to Korea.’ Every House and Senate Republican should join him in seeking the best ideas and the best solutions from across the country. This is the day the McCain-reform Republican Party began to truly emerge as a movement which puts country first, solutions first, and big change first. If House and Senate Republicans can help McCain put together a three part economic package history could be made. ..."

Harry Reid is blaming everything on GWB (naturally). All along John McCain has been the voice in the wilderness. H/T Saberpoint

"...Statement by Senator John McCain, May 25, 2006:
Mr. President, this week Fannie Mae's regulator reported that the company's quarterly reports of profit growth over the past few years were "illusions deliberately and systematically created" by the company's senior management, which resulted in a $10.6 billion accounting scandal.

The Office of Federal Housing Enterprise Oversight's report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae's former chief executive officer, OFHEO's report shows that over half of Mr. Raines' compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac.

The OFHEO report also states that Fannie Mae used its political power to lobby Congress in an effort to interfere with the regulator's examination of the company's accounting problems. This report comes some weeks after Freddie Mac paid a record $3.8 million fine in a settlement with the Federal Election Commission and restated lobbying disclosure reports from 2004 to 2005. These are entities that have demonstrated over and over again that they are deeply in need of reform.

For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac--known as Government-sponsored entities or GSEs--and the sheer magnitude of these companies and the role they play in the housing market. OFHEO's report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO's report solidifies my view that the GSEs need to be reformed without delay.

I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.

I urge my colleagues to support swift action on this GSE reform legislation...."

The bottom line here is the fact that the usual NON REPUBLICAN sources are trying to screw John McCain and the GOP. That's what it is about, along with John Tanton and his anti-immigration minions are trying to take out John McCain. Then, there are the Dems who just are out to take the White House, no matter what. I don't know who's worse.