Newt Gingrich is GOP’s Frankenstein monster come to life
The panic of the GOP’s Washington establishment has become, well, entertaining. The conservative movement that they have designed and programmed so carefully is in the process of going rogue on them, and that rogue has a name: Newt Gingrich.
But they have brought this on themselves. He is their creation.
If you indoctrinate your members to believe that compromise equates to defeat — if that becomes a core principle in your movement’s identity — how can you demand they compromise by accepting Mitt Romney as their nominee? Is that not defeat on the most important decision the party can make?
If you tell them that being Republican requires obedience to every single tenet of Republican doctrine — George Will this week noted that the party is “more ideologically homogenous than ever in 156 years of competing for the presidency” — how can you sell them on a candidate who is so transparently insincere in embracing that doctrine? Isn’t that a betrayal? (Gingrich is equally insincere; he’s just better at hiding it.)
And if you have nurtured your base on the red meat of anger and resentment, building an elaborate media infrastructure to generate fresh outrage to feed upon, you have prepared the way for a demagogic leader with a genius for that style of politics. With his intellectual veneer and flair for the outrageous, Gingrich doesn’t merely throw the crowd red meat, he throws them Kobe beef, broiled to perfection.
Meanwhile, Romney offers soy burgers. Go ahead, eat it. It’s good for you.
And this is the tough part: For years, you have imbued your voter base with a deep distrust of the media, the establishment and the elites, to the point that distrust is now programmed into the movement’s DNA. The harsher the media attack, the more enthusiastically the party faithful now rallies behind its target.
That trait has proved useful, producing a party base that to a large degree is immune to outside influence. But in these circumstances, what mechanisms do you use to convince the base that Gingrich would be a disaster to the party and to the country? How do you reach them? You can’t use the mainstream media, and moderate voices preaching caution from Washington simply have no impact. In fact, they confirm the false image of Gingrich as a fellow outsider.
Newt understands that dynamic very well, having helped to create it. He has made an ostentatious point of refusing to attack his fellow Republicans, saying he will not participate in a media conspiracy to divide the party. It is a wise response, perfectly attuned to the mindset of the base, and you can expect to see him offer it repeatedly in tonight’s GOP debate from Iowa.
In fact, tonight’s debate (broadcast at 9 p.m. on ABC) is likely to be the most important of the party’s two dozen or so forums, because it comes at a critical time. Unless Gingrich self-destructs, and soon, the party establishment and intelligentsia will have to spend the next few months trying to discredit him while shoving Romney down the throat of a GOP base that gags at the thought. And maybe it’s what’s left of my naivete, but I have to think that patriotism is also playing a role in that desperation. The party elite know Gingrich; they understand that proposing to put Newt in position to be president of the United States would, in its own way, be as grossly irresponsible as putting someone like Sarah Palin in that role.
They just don’t know how to convince the rest of the party of that fact, because it requires unlearning so much of what they’ve been told to believe.
– Jay Bookman
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781 comments Add your comment
jconservative
December 11th, 2011
7:46 am
“Belgian Education Policy in the Congo: 1945–1960″.
Title of Gingrich’s PhD dissertation.
Freddie Mac hired him as a “consultant” because they needed an expert on education in the Belgian Congo.
You folks believe that, right?
Common Sense isn't very Common
December 11th, 2011
7:57 am
Where does Gingrich claim residence?
Is it PA – where he was born
Is it W.GA. – where he taught for a while and first ran for Congress
Is it Cobb County – where he represented longest
No it’s Washington DC, Now that’s an outsider
stands for decibels
December 11th, 2011
7:58 am
Newt took a hit even with Santorum propping him up. Bachmann
did well as hitman on Newt. Paul was consistent but he already had
all he’ll get in Iowa. Romney didn’t lose any but didn’t gain any. Perry
flatlined again. Bachmann will get Herman’s money if she’ll let him cop
a feel. Obama is safe.
Thanks for the wrap up. I did try to watch a bit of it, but seriously, after about two or three minutes of hearing Newt and Mitt’s crackpot economic gobbledygook, I realized those were minutes of my life I’d never get back…
Common Sense isn't very Common
December 11th, 2011
7:59 am
JCon – I believe it. After all would Newt ever lie? especially to the American people LMAO
Common Sense isn't very Common
December 11th, 2011
8:01 am
I loved how Newt seemed to take credit for the economy under Reagan, Bush I, and Clinton.
What an egomaniac or is that just maniac
stands for decibels
December 11th, 2011
8:02 am
Romney falsely claimed that no president before Obama had cut Medicare, and that Obama favored pre-1967 borders for Israel.
Gingrich said he opposed cap-and-trade, even though he once spoke favorably of it, if combined with other measures to curtail carbon emissions.
Perry again falsely accused Romney of writing that the Massachusetts health care law should be a model for the nation, and once again made an apples-to-oranges comparison to make his Texas job-creation record look more impressive.
And Bachmann recycled a bogus claim about projected job losses under the new federal health care law.
par for the course.
Jack
December 11th, 2011
8:04 am
As usual, the majority of the liberal bleats here are spent on trashing the GOP candidates while saying very little about Obama’s dismal track record. There’s little to say about Obama’s admitted obsession to eliminate inequity in this country: doing that meant he’d have to take from one group and give to another. That’s called Marxism and that’s why we’ll have a Republican in the White House next year.
Common Sense isn't very Common
December 11th, 2011
8:06 am
Anyone who has looked at Perry’s job claims in Texas understands that the majority were low wage jobs.
These were combined with jobs coming from other states due to Texas’s low wages and state incentives.
How the hell does he expect to do that across the US?
Compete with the wages in China, India and Mexico? What a deep thinker. Geesh
carlosgvv
December 11th, 2011
8:08 am
We live in a country of over 300 million people. If the best we can do for President is Obama, Romney, Gingrich, Paul, Bachmann and Perry, then something has gone terribly wrong.
Common Sense isn't very Common
December 11th, 2011
8:14 am
carlos – I agree with you one hundred percent.
But since very few want to deal with the BS associated with running for pres. I think our current crop of pols. both Dems and Repubs. is going to be what we get to choose from for the forseeable future.
Sad it is.
marko
December 11th, 2011
8:17 am
In last nights debate, I think Mitt made a mistake on par with Perry’s famous flub. His ten thousand dollar bet will cost him far more than that. Washington is a strange place where billions and trillions of dollars are thrown around like so much monopoly money. On the other hand, ten thousand dollars is real money. Real people have to eat a lot of crap for ten thousand dollars. They would think long and hard before they’d wager two or three months pay. Real plumbers have to deal with a lot of clogged up toilets for that kind of money. That’s a hell of a lot of burgers to flip. How many tires would Bubba have to rotate for that kind of money?
Mitt lives in the gated exclusive world of the Job creators. He doesn’t seem to have a clue about what life’s like at the other end of the spectrum. Down in the trenches where the wealth creators dwell, they might not understand a trillion dollars, but ten thousand dollars is a lot of money.
Jay’s of the opinion that President Newt would be an unmitigated disaster. I agree but, Disasters come in many flavors. President Mitt would only be a different flavor. He’d boldly take us where we’ve been before. The view from the clogged toilet wasn’t so great the first time . I have no reason to believe it will look any better this time around.
midtownguy
December 11th, 2011
8:26 am
We are going to end up with four more years of Obama because the Republicans aren’t offering up a viable alternative and Hillary won’t run against a sitting president for the nomination. Biggest mistake made by the Democrats in my lifetime is not nominating Hillary.
Cherokee
December 11th, 2011
9:00 am
I dunno, midtown. Hillary was my choice too, but the cons would have trashed her even worse than they’ve trashed Obama, I think.
Jm
December 11th, 2011
9:07 am
Midtownguy
I hear you
But people didn’t want 8 more years of the Clintons in the White House
Brosephus
December 11th, 2011
9:10 am
Biggest mistake made by the Democrats in my lifetime is not nominating Hillary.
Nah, I don’t even think that’s a top 10 mistake in mine, and I haven’t hit 40 yet. Nominating Hillary would have given the GOP an endless supply of negative crap to bleat about.
Common Sense isn't very Common
December 11th, 2011
9:13 am
Bro – good morning.
How did you like the shyte the other day about the TSA?
Jm
December 11th, 2011
9:14 am
Carlosgvv
Well, here are the issues
Character assassination
Family disruption
Constant security threats as your family ends up in the crosshairs of every nutball
Congressional obstinacy
Hyper active media unwilling to focus on important issues, and with the attention span of a 1 year old, which is a reflection of their audience and our country
Forgoing the opportunity to ever have much privacy and the ability to go out in public alone for the rest of your life
And that’s just the start
St Simons - we're on Island time
December 11th, 2011
9:15 am
wow, Mitt’s done, if he doesn’t clean house in the early primaries
10k bet? Really? How crass.
down there with Rick Scott in the small digits in Fla?
Well, at least we’ll save some money on president Obama’s next
physical. He won’t have to consult his physician because he won’t
have an election lasting more than 4 hours.
St Simons - we're on Island time
December 11th, 2011
9:18 am
if they could get Hillary to switch parties, they might have a legit
candidate that could win.
Brosephus
December 11th, 2011
9:18 am
How did you like the shyte the other day about the TSA?
Been out of pocket for a few days, what happened???
Jm
December 11th, 2011
9:21 am
Maybe jay and the global warming deniers can chew in this
http://www.sciencedaily.com/releases/2011/12/111209123214.htm
Common Sense isn't very Common
December 11th, 2011
9:25 am
Bro – Jay wrote the other day.
Consider, for example, HR 3608, introduced yesterday by U.S. Rep. Marsha Blackburn, Republican of Tennessee and co-sponsored by Lynn Westmoreland and Phil Gingrey, both Georgia Republicans. It’s a petty little bill put to a petty little purpose.
Seeking to tap into public frustration with airport security screeners, HR 3608 would do just two things: First, it would strip employees of the Transportation Security Administration of the right to be referred to as officers. Calling them “officers” is apparently too good for them.
Second, the bill would strip TSA officers of the badges that they wear on their uniforms, again to remind them of their proper and very low place in the scheme of things. No reason to let them get “uppity” or take professsional pride in their duty.
———————————————————–
Seems like some congress critters didn’t like the cavity searches.
Jack Chit
December 11th, 2011
9:34 am
If you know Jack Chit vote Democratic these cons are a bunch of losers
Common Sense isn't very Common
December 11th, 2011
9:37 am
Perry’s newest ad speaks to American values.
Like descrimination against anyone not like him.
I guess he means someone who isn’t kinda stoopid
Pete E. Tong
December 11th, 2011
9:47 am
“In fact, tonight’s debate (broadcast at 9 p.m. on ABC) is likely to be the most important of the party’s two dozen or so forums, because it comes at a critical time.”
You think, Jay? Why not mention that tomorrow is the most important day of 2011 because it comes at the most critical time: the present?
Common Sense isn't very Common
December 11th, 2011
9:50 am
Bro – followup on the TSA blog.
I wouldn’t read the postings if I were you. Some of the postings were out in the ozone and will just raise your BP.
Common Sense isn't very Common
December 11th, 2011
9:50 am
No time like the present, tomorrow
Brosephus
December 11th, 2011
10:10 am
NoCom
Glad I missed out on that one. That’s nothing but jackassery coming from a buncha jackasses. Sometimes, I think it’s better to remain silent to keep from making yourself look like a jackass. Maybe those Reps should take that advice. Changing a name does nothing at all. If they want something to change, then they need to quit scapegoating workers. I doubt that will happen with any pol with an (R) behind their name though. They always need to demonize somebody other than themselves.
Don't Forget
December 11th, 2011
10:20 am
Newt will motivate the democratic base more than any of the “possible” candidates if he’s nominated. The cons should take that into consideration but I doubt they will.
bman
December 11th, 2011
10:28 am
I can’t believe the best 2 choices Americans will have are Newt vs Obama. Good grief!
I also think it’s naive to count Newt out against Obama.
Common Sense isn't very Common
December 11th, 2011
10:36 am
I thought it was funny last night when Newt mentioned his grandkids.
That’s after he had his marriage annulled which seems to make his kids ‘bastids’.
I just love his ‘Christian’ family values
Redneck Convert (R--and proud of it)
December 11th, 2011
10:40 am
Well, I got to admit I was so lit up last night I couldn’t follow the debate too good up at Billy Bob’s. I got home in time to see the canadates strolling around and shaking hands with people. What got me to wondering was seeing Mrs. Newt and her hair. I wonder how much she spends at a hairdresser before she shows up in public. I couldn’t hardly tell the difference between her hair and the Donald’s. It’s kind of piled on, all plastered up with hair spray, and she must have about 3 inches of makeup on her face. If Newt makes it to the White House they’ll need to budget about $200,000 for her hairdresser and makeup artist.
Anyhow, Mr. Mormon Underwear lost me when he started talking about a $10,000 bet. That’s almost half a year’s salary for me and it tells me he don’t have any idea of how regular folks live. Paul was as nutty as ever and I’m sort of convinced the fix is in—he’ll either win Iowa or come in a close second. The Paul nuts will be coming out of the woodwork. I couldn’t pay much attention to Michelle because every time the camera zoomed in on her I kept thinking about The Picture that Sooth keeps but hardly ever shares with the rest of us.
Anyhow, I went down to the Church of Holiness to hear the Rev. Postlewaite jaw for awhile. I kept drifting off and the hangover never helped. All I got to say is Lord help us after the election next November. It’ll either be Obama or Newt. I wonder if they still make them chastity belts. Alot of husbands will want one if Newt wins. Besides, it may be the cure for all those welfare babys Those People keep popping out.
Have a good Sabbath everybody.
Donovan
December 11th, 2011
10:49 am
This Bookman blog site has become an AJC epicenter for left wing kooks. Jay, you have quite a strange following. I guess if you feed the inmates at the asylum, they will follow you everywhere.
Nevertheless, I shall continue to bring you all another viewpoint to grapple over and exercise your demons. Knock yourselves out.
Newt is scaring the hell out of you guys. It is apparent that when your political opponents do a better job at exposing your liberal lunacies, people like Ms Palin, Ms Bachmann, Mr. Gingrich, and the TEA Party are your #1 priorities to demean and destroy. Newt is a delicious offering of the conservative movement. His time is now and you guys know it.
On the otherhand, you Democrats have to offer up a nobody with the same nobody credentials. Your only defense is the negative rhetoric of your minions who join your bashing. This systematic attack on every Republican candidate is a marvel to read in its low character presentation.
Newt is now pulling away with his counter attacks to your plan. Enjoy him.
St Simons - we're on Island time
December 11th, 2011
10:54 am
Perry’s newest ad speaks to American values.
And he dressed up nice for it too. He’s wearing the exact same jacket
as the guy in Brokeback Mountain. Mon, those guys know fashion.
Midori
December 11th, 2011
10:59 am
http://www.facebook.com/photo.php?fbid=247822351952413&set=a.217603604974288.57691.217514361649879&type=1&theater
getalife
December 11th, 2011
11:02 am
1 % bets 10k a pop.
That is all we learned from the gop last night.
Cherokee
December 11th, 2011
11:05 am
Yeah that’s it, Donavan.
We’re skeered of the brilliance from Newt…
BWAHAHAHAHA
getalife
December 11th, 2011
11:08 am
I liked how willard scolded the newt on Palestine and moonbat bachmann for lying.
jm is the reason willard is losing.
jm can’t convince the cons that willard is a con too.
bman
December 11th, 2011
11:09 am
OWS facebook page? lol .. ..I have wondered where some of you people come up with your crazy lines…
Midori
December 11th, 2011
11:12 am
I find your “lol” equally amusing as you don’t know wtf you’re talking about, nor what that page is about.
Midori
December 11th, 2011
11:14 am
q: why does newt need 2 bathrooms?
a: he really is full of shyt
http://www.washingtonpost.com/politics/want-gingrich-to-speak-he-needs-first-class-expenses-and-2-bathrooms/2011/12/07/gIQAVZzFdO_story.html?hpid=z4
bman
December 11th, 2011
11:17 am
I’m glad that you’re amused. However, I’m pretty sure (i checked twice) that it’s the OWS facebook page. Word is .. ..they don’t even know what their page is about.
getalife
December 11th, 2011
11:19 am
bman,
You don’t know what OWS is all about?
Jack Chit
December 11th, 2011
11:19 am
Face it if the cons don’t run Romney they haven’t got a chance.
If Newt is the nominee it’s a short putt for the Dems.
If Newt is the nominee who the hell knows what happens to the other races, they could go either way.
If they go Repub expect 4 more years of congressional gridlock.
If they go Dem. are all the bills going to be giveaways or more pragmatic, who the hell knows.
Midori
December 11th, 2011
11:19 am
reading is FUNdamental.
just sayin……………..
Common Sense isn't very Common
December 11th, 2011
11:21 am
Midori – is that fun as in disFUNctional LOL
Matti's Compassion
December 11th, 2011
11:21 am
What a sad commentary on our nation…. In other modern, developed countries, they allot sufficient resources to care for their mentally ill. Here, we stand them up behind podiums in “TV debates” and laugh at them. How cruel and sadistic! For shame, America.
Midori
December 11th, 2011
11:22 am
Common –
bman
December 11th, 2011
11:24 am
getalife .. .. just when i started to pay attention to them, they seemed to lose their way. I don’t think most of the people who participated know what it’s about.
USMC
December 11th, 2011
11:26 am
“1 % bets 10k a pop. That is all we learned from the gop last night.”
The Liberal “Talking Heads” threw out the red meat bait and the weak-minded socialists are pouncing on it.
getalife
December 11th, 2011
11:32 am
bman,
It is not a simple message like cut spending because these Americans are not mindless cons.
usmc,
As soon as willard spewed the bet, I knew it was a mistake.
Matti's Compassion
December 11th, 2011
11:35 am
If you don’t “get” what OWS is about, I urge you to expand your wealth of personal knowledge and attempt to refinance your house. It will become clear very quickly that the bankers, hedge fund managers, and the CEOs of mega conglomerates own the government that is supposed to represent us. You can’t even begin to know the many ways in which you — the average middle class working schmuck who was STUPID enough to play by the rules and do the right thing year after year — are scrooooo’ed, while the corporate sponsors of our “representatives” have made out like bandits with no real consequences for their actions. It really is “taxation without representation” now. Funny how it’s okay for the pekoe heads to express that, but when the people who have already lost nearly everything do it, some of you ayy-holes have nothing but contempt and bathing jokes for them.
Erwin's cat
December 11th, 2011
11:39 am
Matti – I had no issues on a refi…great rates available right now
Midori
December 11th, 2011
11:42 am
what Matti said……
Common Sense isn't very Common
December 11th, 2011
11:45 am
USMC – I had no problem with Romney’s bet. It just seemed like a kid saying ‘I’ll bet you a million dollars’
when he knew what he had written vs what Perry was told he wrote ‘I still can’t believe Perrry read not just that book, but any book’.
I still can’t believe Newt hasn’t imploded yet. I say set him up with a young blonde and see how faithful he is
bman
December 11th, 2011
11:45 am
Matti .. .. why are some of you people so nasty? btw .. ..I don’t have a mortgage.
Matti's Compassion
December 11th, 2011
11:51 am
Erwin’s cat,
Congratulations! Where the heck do YOU live that your house did not drop 30% (ore more) in value, through no fault of your own, like everyone else’s? Newsflash to real people: having PERFECT credit, a PERFECT payment history, and practically no other debt gets you promises of great rates, and lots of phone-strokes by the bankers, but when it comes down to doing the deal, expect to be yanked, jerked, and jacked around fifty times a week, because of a little thing they fling in your face called “loan to value ratio.” And if you want to shop around the banks to get a better deal, prepare to pay for a new assessment each time, out of your own pocket, because each bank wants their own, and each time, the jerks drop your value a little more. It’s a freaking nightmare, even WITH perfect everything and some equity remaining. Please let us know if there are any homes for sale on your awesome, gated planet, though most of us are forced to remain here in homes we’ll never be able to sell.
getalife
December 11th, 2011
11:51 am
bman,
Nasty?
Come on man.
Do you ever call con comments nasty?
USMC
December 11th, 2011
11:52 am
“As soon as willard spewed the bet, I knew it was a mistake.”
Fair enough Getalife.
But If DemocRats go off on tangents like a “$10,000 bet” sarcastic comment, It’s going to be a long and disappointing election for Obama.
Common Sense isn't very Common
December 11th, 2011
11:54 am
Matti – I feel that pain on the refi’s, even the hoops you have to jump through have hoops
bman
December 11th, 2011
11:54 am
getalife .. .. haha — i usually ignore them – i said “some people”.
Common Sense isn't very Common
December 11th, 2011
11:55 am
Newt believes in his grandkids, just not his kids.
getalife
December 11th, 2011
11:55 am
usmc,
Well, it looks like they will run the newt so it will be easier than last time.
Our President will have a new mandate for change.
bman
December 11th, 2011
11:57 am
Matti .. .. are you in a home that you will never be able to sell?
Erwin's cat
December 11th, 2011
12:07 pm
Matti – North ATL burbs….yes my home value has dropped but I’m not under water, didn’t buy more than I could afford or more than what I needed…I deal with credit unions almost exclusively. I’ve been late off twice in the past 8 years, and outta work 3 of those 8…sure, I’ve struggled at times…besides what I owe on my house, I’m debt free….I’ve had as much as $30k credit card debt over the years ah have since paid it off and built my savings back up
Am I as nervous as anybody else in this economy…you bet, but I try and mitigate my risk where I can…In many ways I have been blessed, even during my struggles…I learned some valuable lessons during my first extended leave….now,I don’t spend on anything I don’t need or can’t pay cash
I understand not everyone can come out as cleanly as I have…I have family going through some of the worst of it….to be honest I only have 10 fingers in order to point at blame for today’s economy
USMC
December 11th, 2011
12:10 pm
“Well, it looks like they will run the newt so it will be easier than last time.
Our President will have a new mandate for change.”
Well, the fact that Obama is having to stoop down to “Class Warfare” tactics and dividing our country is a clear indicator that Obama is running scared and for good reason.
President Obama has no substance and has been a complete disaster of a president.
But we shall see. The Senate will change over to RepubliCon control; therefor giving the republiCons control of both chambers of Congress.
Obama’s defeat in 2012 will be icing on the cake. Zoiks!
Thulsa Doom
December 11th, 2011
12:21 pm
Matti,
We did a great refi on the beach condo. Those horrible banks and mega conglomerates that you speak of were nice enough to lower our already low rate for us. That dastardly “loan to value” ratio that you speak of didn’t seem to be a problem.
If you want to be all mad at those evil ole bankers you probably should save some of your righteous indignation for Fannie and Freddie and the folks that regulate them and oversee them. Folks like Barney Frank and Christopher Dodd.
And the next time some Democrat starts talking about govt policies to make financial institutions lend more to poor people and unqualified people in the interest of “affordable housing for the poor” and “fairness” crap then you might want to brace yourself cause the crap is just gonna happen all over again. The problem with libs is that they think govt can solve everything and no matter how much evidence they see to the contrary they still believe. For every attempt at solving a made up problem such as a lack of “affordable housing for the middle class and the poor” the govt creates 5 more problems. And yet folks still believe in the power of big gubment. Amazing.
getalife
December 11th, 2011
12:24 pm
Yeah doomy.
We believe you.
What a load of crap.
Thulsa Doom
December 11th, 2011
12:25 pm
Looks like Obama’s assault on the American economy continues unabated.
If ever there was a shovel ready project staring us right in the face it would be the keystone pipeline which would provide 20,000 immediate jobs and possibly as many as 500,000 indirect jobs. Not a dime of govt money is needed, 3 years of environmental impact studies have been done, and yet the Obama administration is still against this project.
Why is it that Obama has no problem with loan guarantees to help Brazil develop its own oil but the man does everything he can to prevent us from accessing our own oil? Why that is?
Why does this man continue an all out assault against the American economy by standing in the way of as big a shovel ready project as there is in the Keystone pipeline. Why???
Thulsa Doom
December 11th, 2011
12:28 pm
getalife,
Load of crap? Prove it mr. internet tough guy. Otherwise go back to your oxycontin and various other drug addictions and be quiet.
getalife
December 11th, 2011
12:29 pm
I had a family member that wanted me to invest in his mortgage business.
After he told me the scam, I asked what happens when these customers can’t afford the houses they just bought.
He replied, who cares?
I got paid.
When it collapsed, he got sick from the shame and had to leave the State.
Common Sense isn't very Common
December 11th, 2011
12:30 pm
Why are the cons so scared of the pipeline not being able to stand on its own that they have to include it in the extension of the tax relief for the workers in the US?
Kamchak
December 11th, 2011
12:31 pm
And the next time some Democrat starts talking about govt policies to make financial institutions lend more to poor people and unqualified people in the interest of “affordable housing for the poor” and “fairness” crap then you might want to brace yourself cause the crap is just gonna happen all over again.
Now, we’ve got a problem here in America that we have to address. Too many American families, too many minorities do not own a home. There is a home ownership gap in America. The difference between Anglo America and African American and Hispanic home ownership is too big. (Applause.) And we’ve got to focus the attention on this nation to address this.
And it starts with setting a goal. And so by the year 2010, we must increase minority home owners by at least 5.5 million. In order to close the homeownership gap, we’ve got to set a big goal for America, and focus our attention and resources on that goal.
An excerpt from the president’s speech
In 2002.
getalife
December 11th, 2011
12:31 pm
doomy,
You lost all credibility a long time ago.
When are you going to try to get it back?
getalife
December 11th, 2011
12:36 pm
See Kam’s comment doomy?
That is called credibility.
Try it sometime.
Jm
December 11th, 2011
12:38 pm
Getalife
“jm is the reason willard is losing.”
Funny
getalife
December 11th, 2011
12:39 pm
jm,
When will you switch to the newt?
Thulsa Doom
December 11th, 2011
12:42 pm
getalife,
One like yourself should never lecture on credibility given the fact that you never had any to begin with. Back to your corner.
getalife
December 11th, 2011
12:44 pm
Struck a nerve doomy?
Erwin's cat
December 11th, 2011
12:48 pm
Kam – I remember that speech…great idea, weak on implementation….talk about unintended consequences
Thulsa Doom
December 11th, 2011
12:48 pm
Kammy the poo,
The Republicans and W in particular also hold some responsbility for the “ownership society”. Nobody is arguing that they didn’t. Or perhaps you missed that in your reading comprehension failures. But W didn’t get things rolling with the Community reinvestment act. Kammy do need some help in his research.
The current mortgage crisis came about in large part because of Clinton-era government pressure on lenders to make risky loans in order to “make homeownership more affordable for lower-income Americans and those with a poor credit history,” the DC Examiner notes today. “Those steps encouraged riskier mortgage lending by minimizing the role of credit histories in lending decisions, loosening required debt-to-equity ratios to allow borrowers to make small or even no down payments at all, and encouraging lenders the use of floating or adjustable interest-rate mortgages, including those with low ‘teasers.’”
The liberal Village Voice previously chronicled how Clinton Administration housing secretary Andrew Cuomo helped spawn the mortgage crisis through his pressure on lenders to promote affordable housing and diversity. “Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country’s current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments.
He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded ‘kickbacks’ to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why.” (See Wayne Barrett, “Andrew Cuomo and Fannie and Freddie: How the Youngest Housing and Urban Development Secretary in History Gave Birth to the Mortgage Crisis,” Village Voice, August 5, 2008).
Investors Business Daily had an editorial yesterday about how another federal “law designed to encourage minority homeownership” also contributed to the mortgage crisis by pressuring lenders to make risky loans.
The Bush Administration also deserves criticism: although some Bush Administration officials “meekly advocated reforms” of the risky practices engaged in by the government-backed mortgage giants (the “Government-Sponsored Enterprises” Fannie Mae & Freddie Mac, which received $10 billion annually in taxpayer subsidies even before their current bailout), Fannie’s well-paid lobbyists easily defeated those reform proposals by paying off liberal lawmakers and bullying critics. And the Administration did nothing to end federal obsessions with “affordable housing” and “diversity” that encouraged lenders to make risky loans to borrowers with little savings.
http://www.openmarket.org/2008/09/16/clinton-pressure-to-promote-affordable-housing-led-to-mortgage-meltdown/
Matti's Compassion
December 11th, 2011
12:49 pm
Erwin’s cat: to be honest I only have 10 fingers in order to point at blame for today’s economy
Haha! That’s fair. It reminds me of the finger-pointing that happened after Katrina. I was like, “Hello? If you’re only pointing at one group of people, you’re totally dishonest! There was a failure of responsibility everywhere you look!” The same applies in this economy, IMO. People did spend way too much on their McMansions and fancy stuff. The thing is, I WASN’T ONE OF THEM, but I’m paying the price via my net worth, after decades of working, paying the bills, maintaining the aging home, and shopping frugally. The bankers say, “It’s the government making us do this…” and I’m thinking, “Yeah, because y’all behaved so responsibly and treated people right when you had little gov’t oversight… cry me a river, bizzatch!” They are the financial professionals; it was their responsibility to do their jobs correctly.
Even so, I fail to see that any of our “representatives” are representing people like me. They’re still kissing up to their corporate donors, and I’m still getting the shaft. The GOP’s “Personal Responsibility” mantra only applies to the common folk, it seems. At the corporate-personhood level, it’s a whole different story!
Thulsa: Whatevs. If you have enough cash, they’ll treat you well. Congrats on being in that very small club (if you’re telling the truth). So why come here and whine every day, then, if things are going so well for you? Why aren’t you out sipping mimosas on this fine Sunday, smirking at the peasants who shuffle by?
getalife
December 11th, 2011
12:51 pm
Actually, it was scam not a great idea.
Look at phil gramm leading the deregulation of our banks to complete the scam.
corporate media will never ask the newt about that but the people should.
Erwin's cat
December 11th, 2011
12:53 pm
Matti – I feel ya…hang in there, the pendulum swings both ways
bman
December 11th, 2011
12:53 pm
how many here were for the wall street bailout before they were against it?
Midori
December 11th, 2011
12:57 pm
doomy,
You lost all credibility a long time ago.
When are you going to try to get it back?
quoth the raven: NEVERMORE
Kamchak
December 11th, 2011
12:59 pm
CRA — SQUIRREL!
What’s more, only commercial banks and thrifts must follow CRA rules. The investment banks don’t, nor did the now-bankrupt non-bank lenders such as New Century Financial Corp. and Ameriquest that underwrote most of the subprime loans.
[...]
In a speech last March, Janet Yellen, the president of the Federal Reserve Bank of San Francisco, debunked the notion that the push for affordable housing created today’s problems.
“Most of the loans made by depository institutions examined under the CRA have not been higher-priced loans,” she said. “The CRA has increased the volume of responsible lending to low- and moderate-income households.”
In a book on the sub-prime lending collapse published in June 2007, the late Federal Reserve Governor Ed Gramlich wrote that only one-third of all CRA loans had interest rates high enough to be considered sub-prime and that to the pleasant surprise of commercial banks there were low default rates. Banks that participated in CRA lending had found, he wrote, “that this new lending is good business.”
getalife
December 11th, 2011
12:59 pm
bman,
It reminded me of the bush 1 savings and loan bailouts except millions of people are invested in the market for pensions this time.
We have bankruptcy laws that saved people like trump from being dead broke and our airlines would cease to exist so when you factor in all the data, it was the right thing to do.
Soothsayer
December 11th, 2011
12:59 pm
Bogus Brazilian Oil Claims
Q: Did Obama loan $2 billion to Brazil’s oil company to benefit China and George Soros?
A: The president had nothing to do with the loan, which the Export-Import Bank approved for Brazil to buy U.S.-made equipment and services.
Doomy: you constantly spout lies and half-truthes and innuendo on this blog. Yet, you never post a link to support them.
Common Sense isn't very Common
December 11th, 2011
1:04 pm
How many here can clearly state how low Capital Gains Taxes create jobs? And I mean across the board not just for IPOs.
getalife
December 11th, 2011
1:05 pm
doomy lies.
That will not change.
Soothsayer
December 11th, 2011
1:05 pm
Doom: please post a link that shows what percentage of sub-prime loans were made to minorities under the CRA and what percentage were made otherwise.
I have already post one before that stated unequivocally that loans to minorities accounted for only 3% of sub-prime loans.
Why do you do this day after day? The only answer I can come up with is that you are some kind of sick troll who needs this kind of attention.
Soothsayer
December 11th, 2011
1:10 pm
Internet troll — An ugly critter (not necessarily a physical uglyness but more so a inner uglyness) who sits and generally makes things unpleasant by posting to a messege board just to get a reaction, most times a Negative reaction is desired, from other posters.
This site is an exhaustive guide on the recognition of, reasons for, and tactics used by internet trolls. I recommend you save it to your bookmarks/favorites for reference.
Soothsayer
December 11th, 2011
1:14 pm
Off to watch the game. Will someone please shovel the shyte out of here while I’m gone. It’s really stinking up the place.
Thulsa Doom
December 11th, 2011
1:16 pm
Hee hee. Got all the libs all riled up. Falcons coming on. Gotta go. I’ll be back later to dispel all the liberal nonsense.
In the meantime can someone please get back to me on my question as to why Obama is waging war on the economy and the average working man?
Keystone please? Why the war against the American economy? Why?
Kammy, I suggest that you read Thomas Sowell’s book on the financial meltdown where he just lays it all out. Educate yourself ma’am.
Getalifet, You’re the court jester of the blog. Go chew on some oxycontin.
Midori, You of all people have zero credibility. You post the most hateful, venomous posts on here. I hope you don’t call yourself a lady.
Sooth, The Brazilian loan was started in the W administration and was ultimately approved by an Obama appointee for 308 million by the independent federal import-export bank. I have zero problem with the loan guarantee. None. My problem is why we give support for other nation’s to develop their own oil yet Obama stands in the way of us getting at our own resources. It is bizarre. Also, Obama himself as you correctly pointed out did not personally issue the loan guarantee since it was done by the independent import export bank. However, the president’s words carry weight in policy matters and to deny such an obvious reality is to also deny that we breathe air.
On March 19, 2011, Obama met with Brazil’s new President Dilma Rousseff, hailed Brazil as an emerging “global leader” and talked of a bright future of cooperation between the two countries.
Several times in his visit, Obama expressed support for increased trade and partnerships with Brazil. He mentioned building infrastructure for the 2014 World Cup and the 2016 Summer Olympics and developing biofuel technology.
And several times, Obama said that the U.S. wanted to help Brazil develop its recently discovered deepwater oil reserves so the U.S. could be a customer.
getalife
December 11th, 2011
1:18 pm
doomy,
Nobody believes you.
Get lost.
Kamchak
December 11th, 2011
1:21 pm
Thomas Sowell????
BWAAAHAHAHAHAHAHAHAHA!
The only thing little Tommy Sowell can tell me, is where to get a life-sized Ayn Rand blow up doll.
Mick
December 11th, 2011
1:28 pm
donovan
You make the worst assumption of all, thankfully, not too many people are sharing your thought waves. I didn’t say none but that kind of leaves you on the fringe – exactly where you belong…
http://www.youtube.com/watch?v=IK-nVzp5NbE
Common Sense isn't very Common
December 11th, 2011
1:34 pm
Mick – how is the weather down there?
It was 16 this morning here in Ohio, but at least I have Great Lakes Christmas Ale to get me through the day
kayaker 71
December 11th, 2011
1:48 pm
Another Newt rant?
ZZZZZZZZZZZZZ