Why not Obama?

I am putting up this blog to help inform people of what the Obama ticket means to Americans if he is elected as the president of the United States of America in Nov 2008. Below I will give you a list of the issues that makes this election one of the most important election in our life time so we can discuss them. I will also put up quotes right out of Obama's 2 books, "Dreams From My Father” and "The Audacity of Hope" that he has made and you decide if this is the person you want as the next President of the United States of America.

Just so people know something about me. At the moment, I am a registered democrate. I have only voted for one democrate in my entire voting life because non of them are any one I wish to represent my country frm the while house. I will of course be changing that in this election. I am also a conservitive and see the Consitution as the founding fathers seen it. I don't beleive it is a living document and should only be change by the amendment process.

The Major Issues to Consider:

• Our now Failed Economy


• War on Terror (WOT)


• Our Independence on Foreign Oil


• Border Security


• Too much Government

Let's look at the first item on the list above.

Our now Failed Economy

In the invent you did not know. Sens Chuck Hagel R-Neb and John McCain R-Ariz co-sponsored Congressional Bill S190. This bill never became law. This bill was proposed in a previous session of Congress. Any guess why this bill never became law?

The Democrates would not vote on it, so it was removed from the books at the end of that session of Congress. They seen it comming and did nothing. Go figure. While Rome burns. . .

There is a whole lot of finger pointing going on in the world of politics this week. For those want to understand how or why we got to this point in financial chaos:

• 1938 Roosevelt got passed through a democratically controlled congress, Fannie Mae.


• 1970 Freddie Mac was created by democrats in congress 57-43 Senate and 234-192 House.


• 1977 the Community Reinvestment Act was passed by the democratic congress (61-39 Senate and 292-143 House) and signed into law by Jimmy Carter. It encourage banks and mortgage lenders to loan money for housing to people who would not otherwise qualify (with Freddie and Fannie backing same by taking the paper).


• 1995 President Clinton signed the executive order mandating lenders expand their lending for mortgages to sub-prime borrowers (that means people who would not qualify under any criteria in a sane world). Failure to do so would result in the lending institution not having access to federal funds or the quasi governmental Fannie and Freddie.


• 1999 Republican Senator Phil Gramm pushed through congress deregulation laws (Gramm-Leach-Bliley Act) removing Depression era laws separating banking, insurance and brokerage activities. (a really stupid move...Black Cloud's opinion)The vote in the Senate was 98-1-1. McCain was the one who did not vote, another republican was the lone no vote. Biden and Harry Reid, who are now saying it's all Bush's fault, voted for the bill. Even Obama this week places the blamed on Gramm, but fails to mention that his running mate voted for it, and Clinton signed it into law.


• 2003 President Bush tried to get congress to amend Fannie Mae and Freddie Mac rules to disallow loans to people who would not qualify under normal lending institution rules for making loans.




In other words, rescind the Clinton Executive order which had by now become the rules of Freddie Mac and Fannie Mae.
The democrats in the Senate (48) used the threat of filibuster to kill the bill (got to have that magic 60 in the Senate to stop a filibuster).




• 2006 Greenspan testified before congress that Fannie Mae and Freddie Mac were both a house of cards and needed a lot more oversight and controls in case this country found itself in a recession in the future. That duty falls to the U.S. Senate Committee on Banking, Housing and Urban Affairs. Democrat Chris Dodd is Chairman. He wasn't thrilled with Greenspan's advice, because he was the number one campaign money receiver from Fannie and Freddie over the years. Obama was number 2, and he raked his largess in two years.



Now Dodd is saying he may go for the 700 billion, but he wants more oversight, which he had in the first place, but doesn't want to point his finger at himself for not doing his job, even when told there was a big problem.




Every single piece of legislation the republicans have put up to regulate the financial industry since 2000 has been killed in the senate by democrats.
95% of the homeowners are paying their monthly mortgage payments. It's those 5% that are facing foreclosure that will cost the taxpayers a trillion or so if the bailout goes through.

Do you need any more infomation on why no Obama in 2008?