Revisited: Total proof that Affirmative Action Minority Loan Policies at center of global financial crisis!
NOTE: This is a post we had back in March of 2009. It is even more relevant today than a year ago. The far left “mainstream” media is once again attempting to re-write history and blame Republicans for the mortgage crises.
E-mail everyone you know and tell them to come to CofCC.org and watch these videos. Post this link in every message forum and comment section of every newspaper website, craigslist, and blog you can find. This is full admission of guilt from the people who played large roles in creating the global financial crisis!
Copy and paste this link everywhere! http://cofcc.org/?p=4060
2005-2008 President and CEO of Fannie Mae called the Congressional Black Caucus the “conscience of Fannie Mae!” See more proof straight from the mouths of leading Clinton officials! Watch Bill Clinton’s HUD secretary brag about forcing banks to give out race based loans. Then when asked, he admits that these same race-based loans would be more likely to fail! Watch Barack Obama himself admit his involvement in forcing banks to give reckless race-based loans!
Barack Obama called subprime loans “a good idea.” He personally sued Citibank in 1994 to force them to give more loans to unqualified blacks! Citibank is now in shambles and a major recipient of the massive bank bailout. Barack Obama was at the FOREFRONT of forcing banks to give race-based loans for much of the past twenty years! Now Obama wants to give a $275 million bailout to “low income” [ie Black & Hispanic] borrowers that received loans they couldn’t afford. Obama was a leading player in forcing these banks to give the borrowers loans they couldn’t afford in the first place! This has come full circle, and Obama’s policies will only wreck the economy even worse.
You must watch the videos below.
Organizations like the CofCC are being denounced as “RACISTS” for pointing out that radical race-based lending promoted by Jimmy Carter, Bill Clinton, George Bush, and the Congressional Black Caucus is the number one root cause of the mortgage crisis that ignited a global recession!
Here is the proof. Not from us, but from Fannie Mae Interim President and CEO from 2005-2008 Daniel Mudd! Mudd is at ground zero of the global financial crisis. Watch Mudd refer to the congressional black caucus as Fannie Mae’s “family!” Watch Mudd brag and boast about the record number of loans given to blacks. Watch Mudd call the congressional black caucus “the conscience of congress,” and “the conscience of Fannie Mae.”
Fannie Mae was already in serious financial danger when this speech takes place. Yet, the company showered Barack Obama, and other Democrats with money so they would look the other way. House Republicans tried repeatedly to rein in Fannie Mae and Freddie Mac for years, but the congressional black caucus would scream “racists” and Democrats would thwart every effort.
You must see this speech!
More bombshells! Watch leading Democrat leaders demanding affirmative action loaning practices and suing banks!
Watch a leading Clinton official BRAG about how they sued a bank to get it to agree to give out Billions in affirmative action race-based loans. Then watch the same official admit that these loans would be more likely to fail. He admits point blank that loans will wreck the banks, but continued to harrass, pressure, and sue more banks anyway.
Banks were sued and forced to give out race-based loans to people [mostly blacks and Hispanics] who could not afford it!
Watch Congressional Republicans predict the financial crisis and try to stop it. Only to be shouted down by Democrats! Watch Bill Clinton himself admit that Republicans wanted to “tighten up on Fannie Mae and Freddie Mac.”