A Patriotic Response To The “Clown Prince;” 09/29/2012

barackingham Palace,

District of Corruption

September 29, 2012

    Hello, everybody.  Four years ago this month, a crisis that started out on  Wall Street almost brought down our entire economy.  The nation’s biggest banks  were days away from failing.  The stock market – and millions of American  retirement accounts – were in free-fall.  Credit froze.  Lending stopped.  And  businesses large and small didn’t even know if they’d be able to make payroll.   It was a moment the likes of which few Americans had ever seen. Today, we know the biggest cause of that crisis was reckless behavior in the  housing market.     Millions of Americans who did the right and responsible thing – who shopped  for a home, secured a mortgage they could afford, and made their payments on  time – were badly hurt by the irresponsible actions of others.  By lenders who  sold loans to families who couldn’t afford them – and buyers who knew they  couldn’t afford them.  By speculators who were looking to make a quick buck.   And by banks that packaged and sold those risky mortgages for phony  profits.  When the party stopped, and the housing bubble burst, it pushed our entire  economy into a historic recession – and left middle-class families holding the  bag.     Four years later, the housing market is healing.  Home sales and construction  are up.  Prices are beginning to rise.  And more than a million families who  began this year owing more on their mortgages than their homes are worth, are  now back above water.  We’re moving in the right direction.  But we’re not there yet.  There are  still millions of Americans who are struggling with their mortgages, even at a  time of historically low rates.  Now, I know there are some who think that the only option for homeowners is  to just stand by and hope that the market has hit bottom.  I don’t agree with  that. 

[What I’m not telling you:  Remember TARP, the Troubled Asset Relief Program?  That program was signed into law by the evil President George W. Bush and had my full backing while I was stumping during my successful “Campaign of Fluff.”  Even though that wasn’t during my watch, it became a highly touted first step in my socio-fascist program of governance.     The reckless actions of the housing markets I’m whining about this week originated with democRATic [obamacRATic] policies of the “Slick-WillieClinton administration.  “Slick” in concert with his HUD Secretary (and current New York Governor) Andrew Cuomo, conspired to force Freddie Mac, Fannie Mae as well as thousands of private lenders to ignore mortgage applicants’ “vital statistics” and grant mortgages.  Said conspiracy did not put a modicum of reliance on the applicants’ ability to repay the loan!!  This–another in a long list–blatant vote-buying scheme was originally to aid in a 2000 Al-gore victory against–then Texas GovernorGeorge W. Bush.  Thankfully, it didn’t work!!  This allowed me–your exalted ruler–rather than Al-gore to become the most irresponsible socio-fascist ruler in American history!!     The Clinton-Cuomo Conspiracy (C-CC) was the beginning of ‘the housing bubble’ that would continue growing for ten-to-twelve years until it’s collapse in 2007.  While “Slick” and ‘Young Andy‘ can only be held responsible for the U.S. housing collapse, there were similar kerfuffles going on in the U.K., Hong Kong, Spain, Poland, Hungary and South Korea.]

       That’s why my Administration teamed up with state attorneys general to  investigate the terrible way many homeowners were treated, and secured a  settlement from the nation’s biggest banks – banks that were bailed out with  taxpayer dollars – to help families stay in their homes. And that’s why we announced new steps to help responsible homeowners  refinance their mortgages.  Already, hundreds of thousands of Americans who were  stuck in high-interest loans have been able to take advantage of lower rates and  save thousands of dollars every year. That’s not only good for those families; it’s also good for our economy.   When folks are spending less on mortgage payments, they’re spending more at  local businesses.  And when those businesses have more customers, they start  hiring more workers. But we can do even more if Congress is willing to do their part.     Back in February I sent Congress a plan to give every responsible homeowner  the chance to save about $3,000 a year on their mortgages by refinancing at  lower rates.  It’s a plan that has the support of independent, nonpartisan  economists and leaders across the housing industry.  But Republicans in Congress  worked to keep it from even getting to a vote.  And here we are – seven months  later – still waiting on Congress to act. This makes no sense.  Last week, mortgage rates were at historic lows.  But  instead of helping more and more hardworking families take advantage of those  rates, Congress was away on break.  Instead of worrying about you, they’d  already gone home to worry about their campaigns. The truth is, it’s going to take a while for our housing market to fully  recover.  But it’s going to take a lot more time – and cause a lot more hurt – if Congress keeps standing in the way.  If you agree with me, I hope you’ll make  your voices heard.  Call your Representative.  Send them an email.  Show up at  their town hall and tell them that when Congress comes back to Washington, they  better come back ready to work.  All of you are doing everything you can to meet  your responsibilities.  It’s time Congress did the same.

[What I’m not telling you:  How many of these housing give-aways has my regime proposed?!?  I think–it’s difficult to keep track–this one is #3 or #4.  None of the previous homeowner-bailouts has garnered much participation by those eligible homeowners mortgagees.  Eventually the obamacRATic hierarchy will realize that even the obamacRATics aren’t interested in another vote-buying scheme!!  I’ve attempted dozens of vote-buying schemes in my 3-1/2 years on the throne, the only ones that seem to work are those which create and engorge those ’47-percenters’ Governor Romney speaks of.  I know everyone on the planet has heard the type of voter I try to attract; the radical, the uneducated, the unwashed and–as Rush Limbaugh says–the ‘moron vote.’ 

toothless obama supporter
Almost Toothless-obamacRATic voter hired by SEIU ($11/hr) to protest Romney Campaign event.

    If the true mission of this blather opportunity were to put and keep the disadvantaged in their own housing, a cheap mortgage or a refi is most definitely not-the-way-to-go!!  More logical pre-steps might be:  A GED certificate; a trade-school education; a several-year history of dependable attendance and quality work coupled with courses in basic economics, basic finance as well as an ability to keep and reconcile a personal checkbook.

    The inactivity of The Congress is–most definitely–a good thing!  With the members out of the District of Corruption, you only have my myriad of Executive Orders to contend with; to suffer under!!]