Well gang, this is LONG and a bit controversial but, it is VERY educational.
The absolutely fascinating part is the Cloward Priven strategy. Everyone should read the outline of the strategy. then ask yourself if it sounds familiar.
onday, September 29, 2008 Barack Obama and the Strategy of Manufactured
>
Crisis<http> l>
>
> America waits with bated breath while Washington struggles to bring the
U.S.
> economy back from the brink of disaster. But many of those same
> politicians caused
> the
>
crisis<http> icle&id=306544845091102>,
> and if left to their own devices will do so again.
>
> Despite the mass media news blackout, a series of books, talk radio and
the
> blogosphere have managed to expose Barack Obama's connections to his
radical
> mentors – Weather Underground bombers William Ayers and Bernardine
>
Dohrn<http>,
> Communist Party member Frank Marshall
>
Davis<http>and
> others. David Horowitz and his Discover
> the Networks.org <http> have also
contributed
> a wealth of information and have noted Obama's radical connections
since the
> beginning.
>
> Yet, no one to my knowledge has yet connected all the dots between Barack
> Obama and the Radical Left. When seen together, the influences on
Obama's
> life comprise a who's who of the radical leftist movement, and it
becomes
> painfully apparent that not only is Obama a willing participant in that
> movement, he has spent most of his adult life deeply immersed in it.
>
> But even this doesn't fully describe the extreme nature of this
candidate.
> He can be tied directly to a malevolent overarching strategy that has
> motivated many, if not all, of the most destructive radical leftist
> organizations in the United States since the 1960s.
>
> The Cloward-Piven Strategy of Orchestrated Crisis
>
> In an earlier post <http>,
I noted
> the liberal record of legislative disasters, the latest of which is now
> being played out in the financial markets before our eyes. Before the 1994
> Republican takeover, Democrats had sixty
>
years<http> efore.html>of
> virtually unbroken power in Congress – with substantial majorities
> most
> of the time. Can a group of smart people, studying issue after issue for
> years on end, with virtually unlimited resources at their command, not
come
> up with a single policy that works? Why are they chronically incapable?
>
> Why?
>
> One of two things must be true. Either the Democrats are unfathomable
> idiots, who ignorantly pursue ever more destructive policies despite
decades
> of contrary evidence, or they understand the consequences of their actions
> and relentlessly carry on anyway because they somehow benefit.
>
> I submit to you they understand the consequences. For many it is simply a
> practical matter of eliciting votes from a targeted constituency at
taxpayer
> expense; we lose a little, they gain a lot, and the politician keeps his
> job. But for others, the goal is more malevolent – the failure is
> deliberate. Don't laugh. This method not only has its proponents, it
has a
> name: the Cloward-Piven
>
Strategy<http>.
> It animates their agenda, tactics, and long-term strategy.
>
> The Strategy was first elucidated in the May 2, 1966 issue of The Nation
> magazine by a pair of radical socialist Columbia University professors,
> Richard Andrew Cloward and Frances Fox Piven. David Horowitz summarizes it
> as:
>
> *The strategy of forcing political change through orchestrated crisis*.
The
> "Cloward-Piven Strategy" seeks to hasten the fall of capitalism
by
> overloading the government bureaucracy with a flood of impossible demands,
> thus pushing society into crisis and economic collapse.
>
>
> Cloward and Piven were inspired by radical organizer [and Hillary Clinton
> mentor] Saul Alinsky:
>
> "Make the enemy live up to their (sic) own book of rules,"
Alinsky wrote in
> his 1971 book Rules for Radicals. When pressed to honor every word of
every
> law and statute, every Judeo-Christian moral tenet, and every implicit
> promise of the liberal social contract, human agencies inevitably fall
> short. The system's failure to "live up" to its rule book
can then be used
> to discredit it altogether, and to replace the capitalist "rule
book" with a
> socialist one. (Courtesy Discover the
>
Networks.org<http>
> )
>
>
>
>
Newsmax<http> >rounds
> out the picture:
>
> Their strategy to create political, financial, and social chaos that would
> result in revolution blended Alinsky concepts with their more aggressive
> efforts at bringing about a change in U.S. government. To achieve their
> revolutionary change, Cloward and Piven sought to use a cadre of
aggressive
> organizers assisted by friendly news media to force a re-distribution of
the
> nation's wealth.
>
>
> In their Nation article, Cloward and Piven were specific about the kind of
> "crisis" they were trying to create:
>
> By crisis, we mean a publicly visible disruption in some institutional
> sphere. Crisis can occur spontaneously (e.g., riots) or as the intended
> result of tactics of demonstration and protest which either generate
> institutional disruption or bring unrecognized disruption to public
> attention.
>
>
>
> No matter where the strategy is implemented, it shares the following
> features:
>
> The offensive organizes previously unorganized groups eligible for
> government benefits but not currently receiving all they can.
> The offensive seeks to identify new beneficiaries and/or create new
> benefits.
> The overarching aim is always to impose new stresses on target systems,
with
> the ultimate goal of forcing their collapse.
>
>
> Capitalizing on the racial unrest of the 1960s, Cloward and Piven saw the
> welfare system as their first target. They enlisted radical black
> activist George
> Wiley
<http>,
> who created the National Welfare Rights Organization (NWRO) to implement
the
> strategy. Wiley hired militant foot soldiers to storm welfare offices
around
> the country, violently demanding their "rights." According to a
City
>
Journal<http>article
> by Sol
> Stern <http>,
welfare rolls
> increased from 4.3 million to 10.8 million by the mid-1970s as a result,
and
> in New York City, where the strategy had been particularly successful,
"one
> person was on the welfare rolls… for every two working in the city's
private
> economy."
>
> According to another City Journal article titled "Compassion Gone
> Mad<http>
> ":
>
> The movement's impact on New York City was jolting: welfare caseloads,
> already climbing 12 percent a year in the early sixties, rose by 50
percent
> during Lindsay's first two years; spending doubled… The city had
150,000
> welfare cases in 1960; a decade later it had 1.5 million.
>
> The vast expansion of welfare in New York City that came of the NWRO's
> Cloward-Piven tactics sent the city into bankruptcy in 1975. Rudy Giuliani
>
cited<http>C
> loward
> and Piven by name as being responsible for "an effort at economic
> sabotage." He also credited
>
Cloward-Piven<http> ake_man,_pt_4.thtml>with
> changing the cultural attitude toward welfare from that of a temporary
> expedient to a lifetime entitlement, an attitude which in-and-of-itself
has
> caused perhaps the greatest damage of all.
>
> Cloward and Piven looked at this strategy as a gold mine of opportunity.
> Within the newly organized groups, each offensive would find an ample pool
> of foot soldier recruits willing to advance its radical agenda at little
or
> no pay <http>, and expand its base
of
> reliable voters, legal or otherwise. The radicals' threatening tactics
also
> would accrue an intimidating reputation, providing a wealth of
opportunities
> for extorting
>
monetary<http>an
> d
> other concessions from the target organizations. In the meantime,
> successful offensives would create an ever increasing drag on society. As
> they gleefully observed:
>
> Moreover, this kind of mass influence is cumulative because benefits are
> continuous. Once eligibility for basic food and rent grants is
established,
> the drain on local resources persists indefinitely.
>
> The next time you drive through one of the many blighted neighborhoods in
> our cities, or read of the astronomical crime, drug addiction, and
> out-of-wedlock birth rates, or consider the failed schools, strapped
police
> and fire resources of every major city, remember Cloward and Piven's
thrill
> that "…the drain on local resources persists indefinitely."
>
> ACORN, the new tip of the Cloward-Piven spear
>
> In 1970, one of George Wiley's protégés, Wade
>
Rathke<http>–
> like Bill Ayers, a member of the radical Students for a Democratic
> Society
> (SDS) – was sent to found the Arkansas Community Organizations for
Reform
> Now. While NWRO had made a good start, it alone couldn't accomplish
the
> Cloward-Piven goals. Rathke's group broadened the offensive to include
a
> wide array of low income "rights." Shortly thereafter they
changed
> "Arkansas" to "Association of" and
>
ACORN<http>went
> nationwide.
>
> Today ACORN is involved in a wide array of activities, including
> housing<http>,
> voting rights, illegal immigration and other issues. According to
ACORN's
> website: "ACORN is the nation's largest grassroots community
organization of
> low- and moderate-income people with over 400,000 member families
organized
> into more than 1,200 neighborhood chapters in 110 cities across the
> country," It is perhaps the largest radical group in the U.S. and has
been
> cited for widespread criminal activity on many
>
fronts<http> lar%20ACORN%20Scandal.pdf>
> .
>
> Voting
>
> On voting rights, ACORN and its voter mobilization subsidiary, Project
> Vote<http>,
> have been involved nationwide in efforts to grant felons the vote and
> lobbied heavily for the Motor Voter Act of
>
1993<http>,
> a law allowing people to register at motor vehicle departments, schools,
> libraries and other public places. That law had been sought by Cloward and
> Piven since the early1980s and they were present, standing behind
President
> Clinton at the signing ceremony.
>
> ACORN's voter rights tactics follow the Cloward-Piven Strategy:
>
> 1. Register as many democrat voters as possible, legal or otherwise and
help
> them vote, multiple times if possible.
> 2. Overwhelm the system with fraudulent registrations using multiple
entries
> of the same name, names of deceased, random names from the phone book,
even
> contrived
names<http>
> .
> 3. Make the system difficult to police by lobbying for minimal
> identification standards.
>
> In this effort, ACORN sets up registration sites all over the country and
> has been frequently cited <http>
for
> turning in fraudulent registrations, as well as destroying republican
> applications. In the 2004-2006 election cycles alone, ACORN was accused of
> widespread voter fraud in 12 states. It may have swung the election for
one
> state
>
governor<http>
> .
>
> ACORN's website brags: "Since 2004, ACORN has helped more than
1.7 million
> low- and moderate-income and minority citizens apply to register to
vote."
> Project vote boasts 4 million. I wonder how many of them had a pulse. For
> the 2008 cycle, ACORN and Project Vote have pulled out all the stops.
Given
> their furious nationwide effort, it is not inconceivable that this
> presidential race could be decided by fraudulent votes alone.
>
> Barack Obama ran ACORN's Project Vote in Chicago and his highly
successful
> voter registration drive was
>
credited<http>wi
> th
> getting the disgraced
> former Senator Carol Moseley-Braun
> <http>elected. Newsmax
>
reiterates<http> tml>Cloward
> and Piven's aspirations for ACORN's voter registration efforts:
>
> By advocating massive, no-holds-barred voter registration campaigns, they
> [Cloward & Piven] sought a Democratic administration in Washington,
D.C.
> that would re-distribute the nation's wealth and lead to a
totalitarian
> socialist state.
>
> Illegal Immigration
>
> As I have written
> elsewhere<http>,
> the Radical Left's offensive to promote illegal immigration is
> "Cloward-Piven on steroids." ACORN is at the forefront of this
movement as
> well, and was a leading organization among a broad coalition of radical
> groups, including Soros' Open Society
>
Institute<http> p?id=589>,
> the Service Employees International
>
Union<http> =6535>(ACORN
> founder Wade Rathke also runs a SEIU chapter), and others, that
> became the Coalition for Comprehensive Immigration
>
Reform<http> rm>.
> CCIR fortunately failed to gain passage for the 2007 illegal immigrant
> amnesty bill, but its goals have not changed.
>
> The burden of illegal immigration on our already overstressed welfare
system
> has been widely documented. Some towns in California have even been taken
> over by illegal immigrant drug
> cartels<http>.
> The disease, crime and overcrowding brought by illegal immigrants places a
> heavy burden on every segment of society and every level of government,
> threatening to split this country apart at the seams. In the meantime,
> radical leftist efforts to grant illegal immigrants citizenship guarantee
a
> huge pool of new democrat voters. With little border control, terrorists
can
> also filter in.
>
> Obama aided ACORN as their lead attorney in a successful suit he
>
brought<http> rticle>against
> the Illinois state government to implement the Motor Voter law
> there. The law had been resisted by Republican Governor Jim Edgars, who
> feared the law was an opening to widespread vote fraud.
>
> His fears were warranted as the Motor Voter law has since been cited as a
> major opportunity for vote fraud, especially for illegal immigrants, even
> terrorists. According to the Wall Street
> Journal<http>:
> "After 9/11, the Justice Department found that eight of the 19
hijackers
> were registered to vote…"
>
> ACORN's dual offensives on voting and illegal immigration are handy
> complements. Both swell the voter rolls with reliable democrats while
> assaulting the country ACORN seeks to destroy with overwhelming new
> problems.
>
> Mortgage Crisis
>
> And now we have the mortgage crisis, which has sent a shock wave through
> Wall Street and panicked world financial markets like no other since the
> stock market crash of 1929. But this is a problem created in Washington
long
> ago. It originated with the Community Reinvestment
> Act<http>(CRA),
> signed into law in 1977 by President Jimmy Carter. The CRA was
> Carter's answer to a grassroots activist movement started in
> Chicago<http>,
> and forced banks to make loans to low income, high risk customers. PhD
> economist and former Texas Senator Phil Gramm has called
> it<http>:
> "a vast extortion scheme against the nation's banks."
>
> ACORN aggressively sought to expand loans to low income groups using the
CRA
> as a whip. Economist Stan Leibowitz wrote in the New York
> Post<http>
> :
>
> In the 1980s, groups such as the activists at ACORN began pushing charges
of
> "redlining"—claims that banks discriminated against minorities
in mortgage
> lending. In 1989, sympathetic members of Congress got the Home Mortgage
> Disclosure Act amended to force banks to collect racial data on mortgage
> applicants; this allowed various studies to be ginned up that seemed to
> validate the original accusation.
>
> In fact, minority mortgage applications were rejected more frequently than
> other applications—but the overwhelming reason wasn't racial
discrimination,
> but simply that minorities tend to have weaker finances.
>
> ACORN showed its colors again in 1991, by taking over the House Banking
> Committee room for two days to protest efforts to scale back the CRA. Most
> significant of all, ACORN was the driving force behind a 1995 regulatory
> revision pushed through by the Clinton Administration that greatly
expanded
> the CRA and laid the groundwork for the Fannie Mae, Freddie Mac borne
> financial crisis we now confront. Barack Obama was the attorney
representing
> ACORN in this effort. With this new authority, ACORN used its subsidiary,
ACORN
> Housing <http>, to promote subprime
loans
> more aggressively. Barack Obama represented ACORN in this
>
effort<http>
> .
>
> As a New York Post
>
article<http> _scandal_243911.htm?page=0>describes
> it:
>
> A 1995 strengthening of the Community Reinvestment Act required banks to
> find ways to provide mortgages to their poorer communities. It also let
> community activists intervene at yearly bank reviews, shaking the banks
down
> for large pots of money.
>
> Banks that got poor reviews were punished; some saw their merger plans
> frustrated; others faced direct legal challenges by the Justice
Department.
>
> Flexible lending programs expanded even though they had higher default
rates
> than loans with traditional standards. On the Web, you can still find CRA
> loans available via ACORN with "100 percent financing . . . no credit
scores
> . . . undocumented income . . . even if you don't report it on your
tax
> returns." Credit counseling is required, of course.
>
> Ironically, an enthusiastic Fannie Mae Foundation report singled out one
> paragon of nondiscriminatory lending, which worked with community
activists
> and followed "the most flexible underwriting criteria
permitted." That
> lender's $1 billion commitment to low-income loans in 1992 had grown
to $80
> billion by 1999 and $600 billion by early 2003.
>
> The lender they were speaking of was Countrywide – rescued by Bank of
> America in July – which specialized in subprime lending and had a
working
>
relationship<http> losure-prevention>with
> ACORN.
>
> Investor's Business
>
Daily<http> cle&id=306544845091102>added:
>
> The revisions also allowed for the first time the securitization of
> CRA-regulated loans containing subprime mortgages. The changes came as
> radical "housing rights" groups led by ACORN lobbied for such
loans. *ACORN
> at the time was represented by a young public-interest lawyer in Chicago
by
> the name of Barack Obama*. (Emphasis, mine.)
>
> Since these loans were to be underwritten by the government sponsored
Fannie
> Mae and Freddie Mac, the implicit government guarantee of those loans
> absolved lenders, mortgage bundlers and investors of any concern over the
> obvious risk. As Bloomberg
>
reported<http>:
> "It is a classic case of socializing the risk while privatizing the
profit."
>
> And if you think Washington policy makers cared about ACORN's negative
> influence, think again. Before this whole mess came down, a
Democrat-sponsored
>
bill<http> bill-has-likely-acorn-slush-fund/>on
> the table would have created an "Affordable Housing Trust Fund,"
> granting
> ACORN access to approximately $500 million in Fannie Mae and Freddie Mac
> revenues with little or no oversight. And ACORN already receives millions
> annually
>
<http>th
> rough
> grants from federal, state and local governments.
>
> Even now, unbelievably – on the brink of national disaster – Democrats
have
> insisted ACORN benefit from bailout negotiations! Senator Lindsay Graham
> reported Thursday night (9/25/08) in an interview with Greta Van Susteren
of
> On the Record <http> that Democrats
want 20
> percent of the bailout money to go to
>
ACORN<http>
> !
>
> This entire fiasco represents perhaps the pinnacle of ACORN's efforts
to
> advance the Cloward-Piven Strategy and is a stark demonstration of the
power
> they wield in Washington.
>
> Enter Barack Obama
>
> In attempting to capture the significance of Barack Obama's Radical
Left
> connections and his connection to the Cloward Piven strategy, I
constructed
> following flow chart. It is by no means complete. There are simply too
many
> radical individuals and organizations to include them all here. But these
> are perhaps the most significant.
>
> [image: Cloward Piven Strategy]
>
> The chart puts Barack Obama at the epicenter of an incestuous stew of
> American radical leftism. Not only are his connections significant, they
> practically define who he is. Taken together, they constitute a who's
who of
> the American Radical Left, and guiding all is the Cloward-Piven strategy.
>
> Conspicuous in their absence are any connections at all with any other
> group, moderate, or even mildly leftist. They are all radicals, firmly
> bedded in the anti-American, communist, socialist, radical leftist mesh.
>
> Saul Alinsky
>
> Most people are unaware that Barack Obama received his training in
> "community organizing" from Saul Alinsky's Industrial Areas
Foundation. But
> he did. In and of itself that marks his heritage and training as that of a
> radical activist. One really need go no further. But we have.
>
> Bill Ayers
>
> Obama objects to being associated with SDS bomber Bill Ayers, claiming he
is
> being smeared with "guilt by association." But they worked
together at
> the Woods
>
Fund<http> >.
> The Wall Street Journal has added substantially to our knowledge by
> describing in great detail Obama's work over five years with Ayers on
the
> board of the Chicago Annenberg Challenge, a non-profit Ayers designed to
push
> a radical agenda
> <http>on public
> school children. As Stanley Kurtz states: "…the issue here
isn't
> guilt by association; it's guilt by participation. As CAC chairman,
Mr.
> Obama was lending moral and financial support to Mr. Ayers and his radical
> circle. That is a story even if Mr. Ayers had never planted a single bomb
40
> years ago."
>
> Also included in the mix is John and Theresa Heinz Kerry's favorite
charity,
> the Tides
>
Foundation<http>.
> A partial list of Tides grants tells you all you need to know: ACLU,
ACORN,
> Center for American Progress, Center for Constitutional Rights (a
communist
> front,) CAIR, Earth Justice, Institute for Policy Studies (KGB spy nest),
> National Lawyers Guild (oldest communist front in U.S.), People for the
> Ethical Treatment of Animals (PETA), and practically every other radical
> group there is. ACORN's Wade Rathke runs a Tides subsidiary, the Tides
> Center. No wonder Kerry, Kennedy et al love Obama. Just one big happy
> family.
>
> Carl Davidson and the New Party
>
> We have heard about Bomber Bill, but we hear little about fellow SDS
> member Carl
>
Davidson<http>.
> According to Discover the Networks
<http>,
> Davidson was an early supporter of Barack Obama and a prominent member of
> Chicago's New
>
Party<http>,
> a synthesis of CPUSA members, Socialists, ACORN veterans and other
radicals.
> Obama sought and received the New Party's endorsement, and they
assisted
> with his campaign. The New Party also developed a strong relationship with
> ACORN. As an excellent article
> <http>on the New Party
observes:
> "Barack Obama knew what he was getting into and
> remains an ideal New Party candidate."
>
> George Soros
>
> The chart also suggests one reason for George Soros' fervent support
of
> Obama. The President of his Open Society Institute is Aryeh Neier, founder
> of the radical Students for a Democratic Society (SDS). As mentioned
above,
> three other former SDS members had extensive contact with Obama: Bill
Ayers,
> Carl Davidson and Wade Rathke. Surely Aryeh Neier would have heard of the
> promising new politician from his former colleagues. More to the point,
> Neier is firmly committed to supporting the hugely successful radical
> organization, ACORN, and would be certain back their favored candidate,
> Barack Obama. Soros is a natural suspect in this fiasco as he has made all
> his ill-gotten gains short-selling on national disaster. The extent of his
> dirty dealings is worthy of its own book.
>
> ACORN
>
> Obama has spent a large portion of his professional life working for ACORN
> or its subsidiaries, representing ACORN as a lawyer on some of its most
> critical issues, and training ACORN leaders. Stanley Kurtz's excellent
> National Review article, "Inside Obama's
>
Acorn<http> jE0ODI=>."
> also describes Obama's ACORN connection in detail. But I can't
improve on
> Obama's own words:
>
> *I've been fighting alongside ACORN on issues you care about my entire
> career *(emphasis added). Even before I was an elected official, when I
ran
> Project Vote voter registration drive in Illinois, ACORN was smack dab in
> the middle of it, and we appreciate your work. — Barack Obama, Speech to
> ACORN, November 2007 (Courtesy Newsmax.)
>
>
>
> In another excellent
>
article<http> >on
> Obama's ACORN connections, Newsmax asks a nagging question:
>
> It would be telling to know if Obama, during his years at Columbia, had
> occasion to meet Cloward and study the Cloward-Piven Strategy.
>
>
>
> I will put it more bluntly: Barack Obama is fully aware of the
Cloward-Piven
> strategy and has actively worked to achieve its goals for most of his
adult
> life.
>
> I ask you, is it possible ACORN would train Obama to take leadership
> positions within ACORN without telling him what he was training for? Is it
> possible ACORN would put Obama in leadership positions without clueing him
> into what his purpose was?? Is it possible that this most radical of
> organizations would put someone in charge of training its trainers,
without
> him knowing what it was he was training them for???
>
> As a community activist for ACORN; as a leadership trainer for ACORN; as a
lead
> organizer for ACORN's Project
> Vote<http>;
> as an attorney representing ACORN's successful efforts to impose Motor
Voter
> regulations in Illinois; as ACORN's representative in lobbying for the
> expansion of high risk housing loans through Fannie Mae and Freddie Mac
that
> led to the current crisis; as a recipient of their assistance in his
> political campaigns – both with money and campaign workers; it is
> inconceivable that he was unaware of ACORN's true goals. It is
inconceivable
> he was unaware of the Cloward-Piven Strategy.
>
> Fast-forward to 2005 when an obsequious, servile and scraping Daniel Mudd,
> CEO of Fannie Mae spoke at the Congressional Black Caucus swearing in
> ceremony <http> for
newly-elected
> Illinois Senator, Barack Hussein Obama. Mudd called, the Congressional
Black
> Caucus "our family" and "the conscience of Fannie
Mae."
>
> In 2005, Republicans sought to reign in Fannie and Freddie. Senator John
> McCain was at the forefront of that
>
effor<http> eddie-mac-in-2005/>t.
> But it failed due to an intense lobbying effort put forward by Fannie and
> Freddie.
>
> In his few years as a U.S. senator, Obama has received campaign
> contributions of $126,349, from Fannie and Freddie, second only to the
> $165,400 received by Senator Chris Dodd, who has been getting donations
from
> them since 1988. What makes Obama so special?
>
> His closest advisers are a dirty laundry
>
list<http> html>of
> individuals at the heart of the financial crisis: former Fannie Mae
> CEO Jim
>
Johnson<http> ght>;
> Former Fannie Mae CEO and former Clinton Budget Director Frank
> Raines<http>;
> and billionaire failed Superior Bank of Chicago Board Chair Penny
>
Pritzker<http> links-to-subprime-debacle/>
> .
>
> Johnson had to step down as adviser on Obama's V.P. search after this
gem
> came out:
>
> An Office of Federal Housing Enterprise Oversight (OFHEO)
>
report[1]<http> ote-0#cite_note-0>from
> September 2004 found that, during Johnson's tenure as CEO, Fannie Mae
> had improperly deferred $200 million in expenses. This enabled top
> executives, including Johnson and his successor, Franklin Raines, to
receive
> substantial bonuses in
>
1998.[2]<http> te-1#cite_note-1>A
> 2006 OFHEO report
>
[3]<http> cite_note-2>found
> that Fannie Mae had substantially under-reported Johnson's
> compensation. Originally reported as $6-7 million, Johnson actually
received
> approximately $21 million.
>
>
>
> Obama denies ties to Raines but the Washington Post calls him a member
> of "Obama's
> political circle
<http>." Raines and
> Johnson were fined $3 million by the Office of Federal Housing Oversight
for
> their manipulation of Fannie books. The fine is small change however,
> compared to the $50 million Raines was able to obtain in improper bonuses
as
> a result of juggling the books. To add insult to injury, the $3 million
fine
> was paid with Fannie Mae's insurance fund.
>
> Most significantly, Penny Pritzker, the current Finance Chairperson of
> Obama's presidential campaign, helped develop the complicated
investment
> bundling of subprime securities at the heart of the meltdown. She did so
in
> her position as owner and board chair of Superior Bank. The Bank failed in
> 2001, one of the largest in recent history, wiping out $50 million in life
> savings of the bank's approximately 1,400 customers. She was named in
a RICO
> class action law suit but doesn't seem to have come out of it too
badly.
>
> As a young attorney in the 1990s, Barack Obama represented ACORN in
> Washington in their successful efforts to expand Community Reinvestment
Act
> (CRA) authority. In addition to making it easier for ACORN groups to force
> banks into making risky loans, this also paved the way for banks like
> Superior to package mortgages as investments, and for the Government
> Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These
> changes created the conditions that ultimately lead to the current
financial
> crisis.
>
> Did they not know this would occur? Were these smart people, led by a
> Harvard graduate, unaware of the Econ 101 concept of moral
> hazard<http>that would result
> from the government making implicit guarantees to
> underwrite private sector financial risk? They should have known that
> freeing the high-risk mortgage market of risk, calamity was sure to ensue.
I
> think they did.
>
> Barack Obama, the Cloward-Piven candidate, no matter how he describes
> himself, has been a radical activist for most of his political career.
That
> activism has been in support of organizations and initiatives that at
their
> heart seek to tear the pillars of this nation asunder in order to replace
> them with their demented socialist vision. Their influence has spread so
far
> and so wide that despite their blatant culpability in the current
financial
> crisis, they are able to manipulate Capital Hill politicians to cut them
> into $140 billion of the bailout pie!
>
> God grant those few responsible yet remaining in Washington, DC the
strength
> to prevent this massive fraud from occurring.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.
