Pathological liar Peter Wallison Threatens Hillary 16
Rick Perry proves that a major campaign strategy of Republicans in 2016 will be to follow the map laid out by pathological liar Peter Wallison.In a visit to the Yale Club IN NYC, Perry said the following:
“During the good times of the ‘90’s, seeds were sown that would do great harm to the middle-class in America,” he said. “If Secretary Clinton wants to take credit for the ‘Clinton economy,’ then she must defend the destructive home ownership policies advocated by her husband that pushed shoddy loans to people who couldn’t afford them, and the economic chaos that followed.”
“President Clinton’s goal was to add another 8 million people to the ranks of homeowners,” said Perry. “He sought to achieve this goal by forcing the two federally-backed mortgage giants – Fannie Mae and Freddie Mac – to increase from 30 percent to 42 percent the share of mortgages they sponsored from low- and moderate-income borrowers. In 2000, Clinton increased the share requirement yet again, to 50 percent.”
“Perry quoted Bill Clinton saying at one point, “Our home ownership strategy will not cost the taxpayers one extra cent. It will not require legislation. It will not add more federal programs or grow federal bureaucracy.”
I have warned of this strategy for some time and have confirmed that Hillary 16 has finally acknowledged that it presents a critical threat.If an independent voter walks into the voting booth in 2016 thinking, Bill Clinton caused the crisis they will not vote for Hillary. They would be crazy to. I could represent the false Republican narrative against anyone on our side and dominate the debate the way things stand right now. Considering the vast majority of voters have no idea what Fannie and Freddie even do Wallison narrative, unopposed is a pretty easy sell. President Obama must wrap up the GSE fiasco and allow Democrats to vigorously set the record straight.
Massive Coalition Demanding Release Grows: Obama Hears
The NCRC joined what is now a massive list of Civil Rights and community groups in demanding for the reformed release of Fannie and Freddie. “This is the most explicit statement I have seen from NCRC advocating for a recap of the GSEs. Before, NCRC stated that recap should be a reform “option” to be considered. Now, they are calling it a “necessary step” and the GSEs should be “required to recapitalize.””
NCRC Statement in Opposition to Shelby Provisions in Appropriations Bill
Washington, DC — Today, in reaction to the incorporation of Senator Richard Shelby’s financial deregulation bill and language submitting the CFPB to annual appropriations into appropriations legislation, NCRC President and CEO John Taylor made the following statement:
“It is deeply disturbing that on the week of the fifth anniversary of the Dodd-Frank Act, some members of the Senate are moving to strip away important parts of the law. The Shelby provisions inserted into the appropriations bill roll back key elements of Dodd-Frank that ensure the safety and soundness of the nation’s banking system and provide consumer protections. They would undermine key safeguards and the increased regulatory oversight for some of the nation’s largest and most systemically important bank and non-bank financial institutions, and rob the CFPB of the independence needed to carry out its responsibilities on behalf of consumers. The 229-page banking reform policy rider included as a part of the appropriation bill also has a number of stealth provisions on the Government Sponsored Enterprises (GSEs) that limit the paths forward for the housing finance system.”
“The U.S. Senate should tread very lightly on diminishing the role Fannie Mae and Freddie Mac play in furthering homeownership in America, a role more important than any two other institutions. Congress and the White House have already taken a major step by prohibiting predatory lending via Dodd-Frank. The next step is promoting greater transparency in lending and increasing capital reserves for Fannie and Freddie. The worst thing the Senate can do is lessen the role Fannie and Freddie play in the secondary mortgage market and pave the way for the nation’s largest financial institutions to dominate it. Those institutions simply would not serve the low- and moderate-income communities across the country in the same way. We are concerned about provisions that would invite the nation’s largest financial institutions into the secondary mortgage market through the “common securitization platform.” For decades, Fannie and Freddie provided a well-functioning secondary mortgage market that created homeownership opportunities for working families. While some key reforms are needed, the GSEs should be recapitalized and must continue to play the role they have played in providing a deep and liquid secondary mortgage market, with robust affordable housing goals.”
“Recapitalization of the GSEs is a necessary step. Critics of Fannie and Freddie suggest that recapitalization would increase the chances of another bailout – this is false. In fact, the opposite is true. By preventing the GSE’s from recapitalizing, the chances that the entities would require an additional capital injection in the future are significantly increased, even though they are turning significant profits – which in fact are being used to plug holes in the budget. This is not prudent budgeting practice, or sound housing finance policy. The GSEs should be allowed, and indeed required to recapitalize.”
“While members of Congress give lip service to the problem of wealth disparity, their efforts to reduce consumer protections by weakening Dodd-Frank and reduce opportunities for working people to become homeowners, reveal the true lack of commitment many members of Congress have to working people.”
About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.
End Game Taking Clear Shape
I apologize for the recent delay between posts, but I have been very busy working on other areas of our cause. As many of you know I have been actively involved on many fronts pushing to help ensure that Fannie and Freddie are freed. My dedication to ensuring that truth is known about Fannie and Freddie has connected me to a variety of key figures on all sides of our struggle.This has put me in a unique position to see the totality of things in a way that few can.
The last week I have been analyzing a variety of data with others to determine what is looking like a very potential end game. There has been a concerted effort by politicians and the administration recently to identify common ground areas and what each party would like most to see in a near-term resolution. Based on these and other critical facts I believe the likely end game has taken shape. I will be sharing the result as soon as we can confirm or deny some critical aspects I will be sharing this.I have also been working to ensure that the millions of Americans who have no voice are not forgotten in this epic battle.
I wanted to get this post up ASAP as it seems that Word Press is not equipped to handle the incredible number of comments my posts generate.I did have more to include in this post and will try and add to it by tomorrow night. Keep the faith!