Nothing is more exemplary of how dishonest a person is Barack Obama than his speech in Osawatomie, Kansas a year ago. In it he said:
For many years, credit cards and home equity loans papered over the harsh realities of this new economy. But in 2008, the house of cards collapsed. We all know the story by now: Mortgages sold to people who couldn’t afford them, or sometimes even understand them. Banks and investors allowed to keep packaging the risk and selling it off. Huge bets – and huge bonuses – made with other people’s money on the line. Regulators who were supposed to warn us about the dangers of all this, but looked the other way or didn’t have the authority to look at all.
It was wrong. It combined the breathtaking greed of a few with irresponsibility across the system. And it plunged our economy and the world into a crisis from which we are still fighting to recover. It claimed the jobs, homes, and the basic security of millions – innocent, hard-working Americans who had met their responsibilities, but were still left holding the bag.
This is actually entirely correct. Obama intimated that somehow Bush and Republicans were responsible for it all. The problem is, they are ALL Clinton policies.
Under Clinton, Cuomo pushed Fannie into 50%+ subprime mortgages and made predatory lending legal.
Clinton refused to regulate derivatives.
And as a reminder, Graham-Leach-Billey passed on a bipartisan basis:
The House passed its version of the Financial Services Act of 1999 on July 1, 1999, by a bipartisan vote of 343-86 (Republicans 205–16; Democrats 138–69; Independent 0–1),[note 1] two months after the Senate had already passed its version of the bill on May 6 by a much-narrower 54–44 vote along basically-partisan lines (53 Republicans and 1 Democrat in favor; 44 Democrats opposed).[note 2]
When the two chambers could not agree on a joint version of the bill, the House voted on July 30 by a vote of 241-132 (R 58-131; D 182-1; Ind. 1–0) to instruct its negotiators to work for a law which ensured that consumers enjoyed medical and financial privacy as well as “robust competition and equal and non-discriminatory access to financial services and economic opportunities in their communities” (i.e., protection against exclusionary redlining).[note 3]
The bill then moved to a joint conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill after Republicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act and address certain privacy concerns; the conference committee then finished its work by the beginning of November. On November 4, the final bill resolving the differences was passed by the Senate 90-8,[note 4] and by the House 362-57.[note 5] The legislation was signed into law by President Bill Clinton on November 12, 1999.
In that same speech Obama also said
Now, in the midst of this debate, there are some who seem to be suffering from a kind of collective amnesia. After all that’s happened, after the worst economic crisis since the Great Depression, they want to return to the same practices that got us into this mess.
Exactly WHO wants to return to those policies? He never said but (wink, wink) you knew it was the dastardly GOP. The straw man killer went unchallenged by the lapdog media. It was a bald faced lie.
As part of his class warfare rhetoric Obama said:
“The money we’re spending on these tax cuts for the wealthy is a major driver of our deficit…”
The government doesn’t “spend” money on tax cuts but liberals are just too stupid to notice. Further, the Bush tax rates did not cause the mess we’re in. The tax rates for the so-called “rich” amount to about $70 billion per year against an Obama deficit of $1.25 trillion per year- less than 1%. That ain’t no major driver.
Another bald face lie.
Obama also said that raising taxes on the “rich” would “close the deficit.”
“And if we go back to the tax rates for folks making more than $250,000 a year, back to the rates that we had under Bill Clinton,” he continued, “we can close the deficit, stabilize the economy, keep taxes on middle class families low, [and] provide the certainty that I think all of us would be looking for.”
Another lie, and a whopper at that.
It is atrocious that the President of the United States is intrinsically such a dishonest person. It is pathetic that the fourth estate is nothing more than a propagandist arm of this liar.
If you don’t see this man as a liar of galactic proportions you truly are brain dead. And an idiot.