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[bob ford <bobford79 AT yahoo.com>]

You facts were pretty accurate except that Herb Moses is Frank's "former' 
boyfriend; and in the 90s Frank would have been 'Ranking Minority Member" of 
the 'House Committee on Financial Services' rather than "Chairman" of the 
"Senate Banking Committee"  ...bobford


--- On Tue, 10/7/08, Clansgian AT wmconnect.com <Clansgian AT wmconnect.com> wrote:

> From: Clansgian AT wmconnect.com <Clansgian AT wmconnect.com>
> Subject: [Homestead] From tiny ACORNs mighty oaks ..... fall.
> To: homestead AT lists.ibiblio.org
> Date: Tuesday, October 7, 2008, 2:03 PM
> If I were to be able to whisper some campaign advice in
> McCain's ear, it 
> would be this:
> 
> Barring the world becoming much more cataclysmic in the
> next four weeks 
> (which is likely) or Obama stepping in it big time (which
> is unlikely) McCain has 
> one and only one chance to turn this around.  Tonight in
> the debate, he must 
> make it clear to the people who is really responsible for
> the financial meltdown:
> 
> Obama is s community activist and community orgnizer.  This
> is his MO and the 
> glasses though which he views the world, the hammer with
> which he swings at 
> all nails real and imaginary.  The Association of Community
> Organizations for 
> Reform Now (ACORN) pushed for legislation to make loans
> easier to get for the 
> "poor".   It was the sympathetic ear of the
> Clinton administration that worked 
> to deregulate the banking industry and specifically
> reformed Freddie and 
> Fannie to make it easier to get mortgage loans.  It was
> Barney Frank's paramour, 
> Herb Moses, who held a high position at Fannie Mae from
> 1991 to 1998 while Frank 
> was chairman of the senate banking committee, who designed
> the programs for 
> the subprime lending market.
> 
> A Democrat undertaking all the way.
> 
> True enough that all who came later, presidents, congress,
> senate, both sides 
> stood by while all this played out.  You can't make a
> no-down-payment, no 
> proof of income loan to every person in the ghetto and
> illegal imigrant without 
> making those same loans available to veryone.  During the
> run up of housing 
> prices, many were frustrated when they went to qualify for
> traditional 30 year 
> loan with a down payment to buy that $100K house only to
> find that the person 
> with the ARM toxic liar's loan  qualified for $150K on
> the same house.  And so 
> the whole market was ratcheted up.
> 
> All the present financial woes trace their origin to the
> community action 
> mucking by ACORN and the subsequent donations from Freddie
> and Fannie to the 
> representative to turn a blind eye, the five top recipients
> being Democrats and 
> include Frank and Obama.
> 
> History has taught us one thing clearly, the programs to
> give the poor 
> disadvantaged a hand up never work, they most often
> backfire as the current (ho, 
> hum, don't make me laugh) housing bubble so well
> illustrates.
> 
> McCain must outline the cause of this succinctly and point
> out that Obama's 
> 'change the way we are changing the changes'  is
> nothing more than a warmed 
> over Clinton policy based on the already proven failure of
> wrecking the economy 
> in order to bootstrap the "disadvantaged".
> 
> That's the same approach that Mugabe tried to sell in
> Zimbabwe.  If we just 
> give the poor black Zimbabweans a hand up by turning over
> all those white owned 
> farms, they will thrive.  In fact, the are starving.
> 
> One chance.  See tonight if he takes
> it.<BR><BR><BR>**************<BR>New
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