By Don Sorchych | October 8, 2008
• The Bailout
• Proposition 202
Although the stock market hasn’t yet digested whether the massive bailout is fish or foul, Congress has once again proved its lack of intelligence as well as its continued and accelerating movement to socialism.
Scary stuff indeed.
But the rumored “October surprise” has proven to be factual and it may well doom the country to be a second rate nation. Not only a huge debt for current and future generations, but the action, supported by both parties, may guarantee the victory for Barack Hussein Obama. Democrats have succeeded in placing the blame squarely on President George Walker Bush and have nearly succeeded in convincing voters a victory by Senator John Sidney McCain creates a rerun of Bush’s eight years.
Here is a view of the source of our current difficulty with sub prime mortgages borrowed from “comments” about our poll for president:
Ed Johnson, Elkton, MI
“To Vince and Melissa: The truth about what caused our economic ‘meltdown’ lies in the Community Reinvestment Act (CRA) from the Carter administration in 1977 and amended by Clinton in 1995. CRA was lobbied by the Association of Community Organizations for Reform Now (ACORN) and other so-called ‘community organizations’. CRA was created to ensure that people without funds to get normally credit checked mortgages, got special treatment. Lending institutions were under threat of punishment if they didn't comply, and people working for Freddie Mac and Fannie Mae were given bonuses for giving out sub-prime mortgages. Thus was born the No Income, No Job, No Documentation mortgages. Clinton ex-staffers Franklin Raines and Jamie Gorelick got tens of millions of dollars in options and bonuses from Fannie Mae. Rep. Barney Frank and other democrats successfully blocked Bush from curbing and controlling Mae and Mac in 2005. CRA had control of lending institutions that were lobbied by the same kind of ‘community organizers’ that Obama bragged about doing. He worked with ACORN doing just that, getting sub-prime mortgages for people that couldn't really afford them. The liberal media has neglected their primary job of not only giving voters the truth, but the history of how the ‘truth’ came about. If you are a hard-nosed Democrat you, of course, will not believe this, but the foregoing is exactly what happened. Do a search for CRA and you will get much more information than what I've furnished.”
Ed Johnson is correct, and the sequel to the mass issuance of sub primes is explained in detail below by guest columnist E.P Unum.
The recent debate between Vice Presidential candidates Sarah Palin and Joe Biden was a victory for Palin considering the low expectations she had going in.
The nationwide liberal media gave little coverage to the fact that PBS commentator Gwen Ifill gave no notice to the commission choosing the moderator that her book about Obama will be announced on inauguration day in January when she fully expects Obama to be anointed president.
There was good reason to cancel the debate, but McCain, the bipartisan candidate, merely said life isn’t fair. McCain, hoping to get the Democrat vote refuses to criticize Democrats.
Dream on John.
Linda Bentley has studied all eight propositions, which will be on the Nov. 4 ballot and we have them on sonorannews.com.
Of special interest is Prop. 202. For those who are not online here is Linda’s article:
Proposition 202 – Stop Illegal Hiring takes the cake in the unscrupulous department with its deceptive title.
The Maricopa County Republican Party recently voted in favor of a resolution against Proposition 202, with District 7 Chair Cheryl Pietkiewicz as the only member of the entire body voting against it.
Urging citizens to vote against the measure, the resolution states, “The same parties who failed to destroy the Legal Arizona Workers Act through court actions and legislative amendments are now attempting to destroy this already existing law through an initiative deceitfully called ‘Stop Illegal Hiring.’ They are attempting to convince the voter that we do not already have in place the most effective illegal hiring law in the nation. Their Prop. 202 would be more accurately described as the ‘Employer Amnesty Act.’
“If passed, this proposition would nullify our current Employer Sanctions Law and set us back on the path of cultural corruption ...”
The ballot measure would have the exact opposite effect of what its name implies by requiring Arizona to wait until the federal government has taken action before it may act and eliminating numerous provisions of the current law by exempting thousands of Arizona employers; eliminating the silent witness provision and making it a criminal offense if a citizen complaint is determined to be unfounded or frivolous; exempting high level management; and returning E-Verify back to a voluntary program allowing for the continued use of the I-9 employment eligibility system, which U.S. District Judge Neil Wake noted has been undermined by fraud — both document fraud and identity fraud.
Wake also pointed out that as a result of the failure of the I-9 system an estimated 7.2 million unauthorized workers were in the U.S. labor force in March 2005, representing about 5 percent of the labor force. Since then, the unauthorized resident alien population has grown by more than 500,000 per year.
Quoting the director of immigration policy for Plaintiff U.S. Chamber of Commerce from his testimony before Congress last June, Wake wrote, “Current immigration laws are severely flawed and have failed to curb the flow of undocumented workers into the U.S.”
Attorney Andrew Pacheco, who drafted the language and ran against County Attorney Andrew Thomas in 2004, submitted a pro statement, claiming the measure ensures a fair complaint process, protects law-abiding businesses and doesn’t “mandate the use of flawed databases and directs all fines collected to schools and hospitals, where the effects of illegal immigration are great.”
What Pacheco refers to as flawed databases have since proven to be 99.5 percent accurate.
Also supporting the measure is Mac Magruder, WESTMARC, Arizona Farm Bureau and AnnaMarie Knorr of Phoenix who states, “The labor market remains tight, especially for employers seeking low-skilled employees,” claiming the measure provides “protections for legitimate employers to ensure that they can do business unencumbered.”
It turns out Knorr is a registered Arizona Lobbyist for Western Growers Association.
Vote NO on Prop. 202.