Before some of you read any of the following, please be prepared to run to a Human Rights Commission to have my head served on a platter. AGAIN!
A few editorials ago, I said that if Barack Obama was not Black, he would never have made it to the Democratic Primaries let alone win it. For that comment, some of my readers cancelled their free subscription to Galganov Dot Com.
Others called me some pretty horrible things. So what? It’s not as if anyone pays to read what I write. It’s not as if I lose anything when someone takes themselves off my Editorial Broadcast Directory.
As I’ve said from the very start of writing these Editorials (this one being 998), I write them for myself. If you don’t like what I write, read what someone else writes and leave me alone.
Is that simple enough?
In late 2004, a Congressional Hearing of the Financial Committee was established to discuss Fanny Mae And Freddie Mac. There were no shortage of Republicans, including and especially John McCain who were VERY worried about the lending habits of these behemoth Mortgage guarantors.
The Republicans were so worried about the lack of oversight that they rang every bell they could. They wanted Fanny May and Freddie Mac reined-in with strict regulations on their lending principles and activities.
The concerned Republicans were terrified that these two runaway agencies could destroy the American market system.
BUT THERE WAS EXTREME RESISTANCE TO THEIR DEMANDS.
The Democrats were outraged by the questions and concerns raised by the Republicans. In fact, they accused the Republicans of trying to smear and bring down America’s two great ‘social equalizers’ in Fannie Mae and Freddie Mac.
The ORIGINAL purpose of these two mortgage guarantors was much like our Canada Mortgage and Housing Corporation (CMHC), which guarantees mortgages (to the banks) for people who have less than an acceptable amount of security with which to back their mortgage loan.
But, what happened during the Democratic Clinton Presidency, with more than just a little prodding by ACORN, the standards used by which to gauge the credit worthiness of prospective home buyers was substantially lowered.
Over the years, also because of ACORN and political supporters of ACORN who wanted EVERY American to be able to purchase their own home regardless of their ability to pay back their loans, the standards disappeared.
If you couple that with greedy lenders wanting to lend any amount of money they could to the worst of all possible borrowers because it was ‘guaranteed’ by Freddie Mac and Fannie May, you have the recipe for a financial disaster.
We’ve all heard a great deal about ACORN over the past few weeks. So you should know a little something about them.
ACORN, which was founded as a private community activist group in the 1970’s, is an organization that collects tens of millions of dollars annually from charities, private donations and government agencies for the purpose of helping minorities, predominantly Black Americans.
In reality, as it is becoming more and more evident everyday; ACORN’S real purpose is to take care of themselves and their extreme Leftist agenda, to the point where they are involved in massive election fraud to guarantee a Barack Obama victory.
Because ACORN champions members of the Black community and Black politicians, anyone who opposes them runs the risk of being labeled a racist. It has come to the point, that even well run and honest banks were intimidated by ACORN and its many affiliates into giving undeserved loans to people who in a million years would never be able to meet their commitments.
The Democratic Members of Congress who were ‘outraged’ by the demands of the Republican Members of Congress all had one thing in common on top of their Leftist political bent.
They were all Black. Or should I be politically correct and call them African-Americans?
They were: Lacy Clay Democrat Missouri, Maxine Waters Democrat California, Gregory Meeks Democrat New York, and Arthur Davis Democrat Alabama
Frank Raines who was the Chairman and CEO of Fanny Mae is also Black. He was also Barack Obama’s campaign financial advisor until it hit the fan.
The only White guy who was part of this “I’m Outraged Group” was Democratic Member of Congress Barney Frank, who sat in charge of this entire debacle. Frank is an embarrassment to the American people.
It should be known that Barack Obama’s campaign paid ACORN more than $800,000 to help him in his Presidential bid to win the nomination. Barack Obama was ACORN’S lawyer in at least one circumstance. And was hired by ACORN to train some of their staff in the science of ‘community organizing’.
There is an irrefutable link between ACORN and Obama.
According to ACORN, they’ve turned out far more than 1 MILLION new voters. Unfortunately for the American Democratic process, many, if not most of the new voters ACORN has turned-out in the Black communities happen to be either fraudulent or non-existent.
Is it racist of me to question whether the Black community through their community organizers, pressure groups like ACORN, and elected politicians are responsible for creating the sub-prime financial Tsunami that is destroying the American banking and international monetary systems?
Is it racist of me to ask why more than a million new Black voters (according to ACORN) turned out by ACORN, seem to be part of a monumental fraud that can kill the Democratic election process of the world’s foremost Democracy?
And why are people running to vote for Barack Obama who seems to have his fingers in all of this? Or is that a racist question too?
Best Regards . . . Howard Galganov