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October 2008 Archives

They Warned Us About the Mortgage Crisis

( A precious few) State whistleblowers tried to curtail greedy lending—and were thwarted by the Bush Administration and the financial industry (Red State Patriot emphasis)

More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation's top bank regulator. Sitting in the spacious Office of the Comptroller of the Currency, with its panoramic view of the capital, the AGs from North Carolina and Iowa said lenders were pushing increasingly risky mortgages. Their host, John D. Hawke Jr., expressed skepticism.

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Roy Cooper, North Carolina AG

Roy Cooper of North Carolina and Tom Miller of Iowa headed a committee of state officials concerned about new forms of "predatory" lending. They urged Hawke to give states more latitude to limit exorbitant interest rates and fine-print fees. "People out there are struggling with oppressive loans," Cooper recalls saying.


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Posted October 31, 2008 03:40 PM    Permalink
Read more on Economics and Business

Two Points of View

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Hat tip for the graphic: Val Ripley

The Obama Temptation

I've been thinking this for a while so I might as well air it here. I honestly never thought we'd see such a thing in our country - not yet anyway - but I sense what's occurring in this election is a recklessness and abandonment of rationality that has preceded the voluntary surrender of liberty and security in other places. I can't help but observe that even some conservatives are caught in the moment as their attempts at explaining their support for Barack Obama are unpersuasive and even illogical. And the pull appears to be rather strong. Ken Adelman, Doug Kmiec, and others, reach for the usual platitudes in explaining themselves but are utterly incoherent. Even non-conservatives with significant public policy and real world experiences, such as Colin Powell and Charles Fried, find Obama alluring but can't explain themselves in an intelligent way.


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Posted October 30, 2008 09:43 AM    Permalink
Read more on Candidate - Barack Obama

The entire world will be watching Democrats on November 4th

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Hillary Backers Decry Massive Obama Vote Fraud

With accusations of voter registration fraud swirling as early voting begins in many states, some Hillary Clinton supporters are saying: “I told you so.”

Already in Iowa, the Obama campaign was breaking the rules, busing in supporters from neighboring states to vote illegally in the first contest in the primaries and physically intimidating Hillary supporters, they say.

Obama’s surprisingly strong win in Iowa, which defied all the polls, propelled his upstart candidacy to front-runner status. But Lynette Long, a Hillary supporter from Bethesda, Md., who has a long and respected academic career, believes Obama’s victory in Iowa and in 12 other caucus states was no miracle. “It was fraud,” she told Newsmax. (emphasis added)

Long has spent several months studying the caucus and primary results.

“After studying the procedures and results from all 14 caucus states, interviewing dozens of witnesses, and reviewing hundreds of personal stories, my conclusion is that the Obama campaign willfully and intentionally defrauded the American public by systematically undermining the caucus process,” she said.


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