Monday, October 20, 2008
"Spread the Wealth," Thinking Caused Economic Meltdown
By John W. Lillpop
Those who applaud Barack Obama's "spread the wealth" communist blatherings ignore the fact that pity pot communists in Washington, D.C., caused the economic meltdown which has terrorized America and the entire world for several weeks.
Indeed, communists in Democrat clothing demanded that mortgage loans be approved and executed for people not qualified for home ownership. Spreading the wealth meant a concentrated effort by government to provide housing for minorities and low income people by waiving prudent underwriting rules, regardless of risk.
As it turns out, this latest example of "progressive" insanity cost American taxpayers more than a trillion dollars.
With progressive politicians in charge, prudent underwriting was replaced by idiotic business practices based on the following:
Don't have money for a down payment? Of course you don't, because under the Republicans all the wrong people have the money!
However, fret not, your Democrat Nanny will make an exception so that your family can get into that home without making a down payment, or by making a very small one.
Don't have good credit? Again, good credit is vastly overrated, especially when it comes to minorities and low-income folks. Good grief, if government would only force employers to pay more money, everyone could pay their bills on time.
Don't have stable employment? So what else is new? That is a given for minorities in racist America, especially in the disastrous Bush economy! We understand!
Don't have enough income to qualify for a loan? Again, racism takes a nasty toll. Once again, it is your Democrat Nanny who will force those evil lenders (mostly white Republicans!) to "expand" debt-to-income ratios, AND make your application a "stated income loan" so that all families can partake of the American Dream.
You say you are still worried about making those sky-high monthly payments?
Relax, Democrat Nanny will get you an "option arm" program that allows YOU to decide how much you pay each month! Five years from now, this 1,200 square foot, two bedrooms, one bath home will be worth a million dollars, and you will be filthy rich!
However, when you become rich please know that there is no good reason for becoming a Republican! Remember your roots and always vote Democratic!
In America illegally? Fret not, senoir and senoritta, your Democrat Nanny will force lenders to treat you as good, or even better than, American citizens! Democrats will even demand that all of your documents be in Spanish, just in case one of you happens to be literate!
Mind you, helping minorities and low income people is a good thing, if it works. However, when progressive thinking forces borrowers into bankruptcy and or foreclosure, no one benefits.
Granting loans to illegal aliens is sheer stupidity in all cases because such people are inherently unstable AND because funds used to help illegals should be spent on American citizens.
Spreading the wealth may sound good, but the idea of government seizing the wealth of one family and giving it to another family is immoral and un-American.
What would Jesus do? I know he would NOT lead the poor into bankruptcy or foreclosure.
Shame on Barack Obama and Democrats for their blatant promotion of communism in the name of helping minorities and the poor.
Posted by John W Lillpop at 1:12 PM