Wednesday, December 7, 2011

Obama shifts blame for subprime mortgage disaster & economic downturn; Speech, Osawatomie, Kansas

President Obama often makes the claim that he inherited the country's current economic crisis. But in truth, it was Obama and his fellow Democrats who supported, and facilitated efforts to force the banks to issue high-risk subprime mortgages to unqualified borrowers, which ultimately brought about the collapse of the U.S. economy. Hence, Mr. Obama is not the Inheritor-in-Chief that he claims to be, but rather the Bequeather-in-Chief who helped facilitate the current economic crisis.

Nevertheless, during a speech Tuesday at a High School in Osawatomie, Kansas, the President, rather than concede that he and his fellow Democrats supported efforts to force the banks to issue high-risk loans, blamed the banks for making these loans.

Audacity on the President's part, I suppose; but clearly not The Audacity of Hope......

No comments: