The American Spectator

ruth| 11.1.08 @ 5:32PM

What's so suspicious is that obomber did not know that his beloved auntie was an illegal alien. This guy is so dirty he makes me sick. Go McCain/Palin!

Captain America| 11.1.08 @ 6:05PM

I don't buy the notion that the McCain campaign "found" auntie. But the more the Obama (D-ACORN) campaign cries foul, the more unwanted publicity they inherit. Keep it up!

Barackula| 11.1.08 @ 6:10PM

Is everyone forgetting that the original UK article quoted the aunt as saying she attended Obama's swearing ceremony in 2004?

WendyG| 11.1.08 @ 9:30PM

>>>This is probably not the November surprise some were hoping for...

It would be if it were Sarah Palin. Just how many indigent relatives of Obama's are out there any way? Enough for one a day, or so it seems. At least Jimmy Carter took care of Billy Carter (Billy didn't appear to live in abject poverty at any rate). Why don't the Dems care about *these* poor people?

If I wasn't crying I'd be laughing.

Michael Roush| 11.2.08 @ 10:49AM

WendyG
Want to laugh? Logon to You Tube and listen to Sarah Palin being pranked by two Canadian radio hosts. And you think this bright light is ready to be president.

ruth| 11.2.08 @ 11:47AM

MRoush, actually if I want to laugh it would be at the predictability of your snarky, 'get in their faces' comments. How about the fact that your messiah's beloved auntie is an illegal alien and Obrilliant has not been aware of her status? For years! That's a pretty good knee slapper, ain't it?

Michael Roush| 11.2.08 @ 3:18PM

Ruthie,
If you earn more than a quarter of a million dollars a year, if you have a great stock portfolio (does anyone now?), if you have money off shore in the Caymans, if your income has been steadily rising over the past eight years, if you don't need health care insurance because you are so well off you can pay for your own, if Social Security is of no concern to you and you have no kids or grandkids or you don't care about their economic well being, I understand that you are voting your pocketbook. Otherwise, the only thing I see that is funny is how well the GOP has pulled the wool over your eyes.

ruth| 11.2.08 @ 3:41PM

Mikey, do the names Barney Frank and Chris Dodd ring a bell? Pushing their liberal social engineering agenda got us into this mess. Do you think it's good economic policy to loan people money when you know they can't pay it back? Now you want to elect an even bigger thug than those two. I don't think that's funny, it's tragic, kool aid drinker.

Michael Roush| 11.2.08 @ 8:23PM

Ruthie,

Liberal social engineering got us into this mess? No, deregulation, financial engineering and too much liquidity got us into this mess. I would explain how the Republicans are largely responsible but I know you are not interested. Keep parroting the GOP talking points, Ruthie. With luck, the Democrats will win and save you from total disaster.

ruth| 11.2.08 @ 8:34PM

Good try, Mikey, but we've got Barney Frank and other liberals in congress on tape spouting off about the virtues of Fannie/Freddie and the wonders of the low-income home owners program . Haven't you seen it? It's everywhere. Take your blinders off and see the truth. I know truth is a tough concept for liberals--but stretch.

ruth| 11.2.08 @ 8:46PM

Oh, please, wise one, explain to me how the republicans are largely responsible for this mess. I am interested in your explanation--but you don't got one, do you? BS artist.

Michael Roush| 11.2.08 @ 9:01PM

Ruthie,
Lets us begin with what you know. Can you explain derivatives and CDS? Can you explain the role of mortgage brokers? Do you know what institutions provided capital for mortgages? Can you explain how Fannie and Freddie fit into all of this? Get back to me.

ruth| 11.2.08 @ 10:19PM

OK, Mikey, I could explain it to you but I doubt that you'd understand it. Have you heard of ACORN, do you know the role they played in this mess? Probably not, it doesn't fit into your world view. Explain to me (with facts) what you think caused this meltdown. I am waiting.

Michael Roush| 11.3.08 @ 9:42AM

Ruth,

Nice head fake, but it didn't work. Here are a few things to know about what got us into this mess:
1. Fannie Mae was created during the New Deal to stimulate the housing market. Was this a bad idea? Notice how we are talking about this right now?
Ever notice how free market conservatives embrace "socialism" in times of economic crisis?
2. LBJ privatized Fannie in 1968 to get it off the federal budget. Please note the word privatize. Does it have a familiar ring?
3. Freddie was created in 1970 to provide Fannie with competition in the secondary mortgage market. Please note the word competition
4. Freddie and Fannie are GSEs (Government Sponsored Entities) - private shareholder owned companies with obligations to the government. This is the source of the saying "privatize the profits, socialize the risks."
5. Fannie and Freddie work in the secondary mortgage market. They buy mortgages from banks. Banks are encouraged to make loans knowing they can sell the mortgages in the secondary market. The government guarantees the loans. This is the point of your criticism. Implicit in this arrangement is the opportunity for irresponsibility. Democrats encouraged risky loans. So did Republicans. Remember George Bush's "ownership society?" If not, please research.
6. I have secured favorable mortgages during my life because of the secondary mortgage market. Chances are, you have too.
7. In the recent excesses, "lairs loans" begin to appear. Who marketed these loans - bleeding heart liberals or greedy conservatives. Probably a combination of the two.
8. Freddie, Fannie and other institutions took these mortgage loans and bundled them into complex securities that were suppose to be risk free. Again, was this solely the work of bleeding heart liberals or greedy conservative? At this level I would be inclined to say a preponderance of players were GOP.
9. Alan Greenspan, a self described Libertarian, fueled mortgage loans with low interest rates. He believed banks and hedge funds would regulated themselves. Remember who championed deregulation? The GOP, right. Mr. Greenspan has since recanted.
10. For good measure, the financial engineers developed credit default swaps, initially insurance (remember AIG) but later essentially nothing more than bets about whether or not there would be mortgage defaults. Again, who were these people? Democrats? Republicans? Bankers and hedge fund managers are usually, but not always, Republicans. There is plenty of blamed to spread, but to try to lay this mess at the feet of Democrats is simply untrue.