The in-crowd and its grip on power 1

Donald Trump is calling for “a revolution”. 

This is why a revolution is necessary: 

There is an in-crowd ruling America. Its grip on power is tight.

Here is Victor Davis Hanson’s description of it:

The D.C.”establishment” and its “elites”.

Collate the Podesta e-mails. Read Colin Powell’s hacked communications. Review Hillary’s Wall Street speeches and the electronic exchanges between the media, the administration, and the Clinton campaign. The conclusion is an incestuous world of hypocrisy, tsk-tsking condescension, sanitized shake-downs, inside profiteering, snobby high entertainment — and often crimes that would put anyone else in jail.

The players are also quite boring and predictable. They live in a confined coastal cocoon. They went largely to the same schools, intermarried, traveled back and forth between big government, big banks, big military, big Wall Street, and big media — and sound quite clever without being especially bright, attuned to “social justice” but without character.

Their religion is not so much progressivism, as appearing cool and hip and “right” on the issues.

In this private world, off the record, Latinos are laughed off as “needy”; Catholics are derided as near medieval and in need of progressive tutoring on gay issues.

Hillary is deemed a grifter [!-ed] — but only for greedily draining the cash pools of the elite speaker circuit to the detriment of her emulators.

Money — Podesta’s Putin oil stocks, Russian autocrats’ huge donations in exchange for deference from the Department of State, Gulf-oil-state-supplied free jet travel, Hillary’s speaking fees — is the lubricant that makes the joints of these rusted people move.

A good Ph.D. thesis could chart the number of Washington, D.C., insider flunkies who ended up working for Fannie Mae/Freddie Mac or Goldman Sachs — the dumping grounds of the well-connected and mediocre.

In this world, there are Bill and Hillary, the Podesta brothers, Huma Abedin and Anthony Weiner, Christiane Amanpour and Jamie Rubin, Samantha Power and Cass Sunstein, Andrea Mitchell and Alan Greenspan, and on and on.

Jorge Ramos goes after Trump; his daughter works for Hillary; and his boss at Univision badgers the Clinton campaign to stay lax on open borders — the lifeblood that nourishes his non-English-speaking money machine.

George Stephanopoulos, who helped run the Clinton campaign and White House, and who as a debate moderator obsessed over Mitt Romney’s answers to abortion hypotheticals, is the disinterested [sarcasm-ed] ABC News chief anchor.

CNN vice president Virginia Moseley is married to Hillary Clinton’s former deputy secretary at the State Department Tom Nides (now of Morgan Stanley) — suggesting “The Clinton News Network” is not really a right-wing joke.

Former ABC News executive producer Ian Cameron is married to Susan Rice, a —  pre-Benghazi — regular on the Sunday talk shows.

CBS president David Rhodes is the sibling of aspiring novelist Ben Rhodes, Obama’s deputy national security adviser for “strategic communications and Speechwriting”, whatever that fictive title means.

ABC News correspondent Claire Shipman married former White House press secretary Jay Carney (now senior vice president for “worldwide corporate affairs” at Amazon: not just “corporate affairs” or “worldwide affairs” but “worldwide corporate affairs”). And on and on.

These nice people report on each other. They praise each other, award each other, make money together, and bristle with each other when they are collectively and pejoratively dubbed the “elites.” They write and sound off about “the buffoon” Trump and preen in sanctimonious moral outrage, as the rest of the country sees this supposedly lavishly robed imperial class as embarrassingly naked.

It is in the interests of all of them to do anything and everything they can, legal or not, ethical or not, to get Hillary into the presidency. 

Only the election of Trump can break their imperial power.  

 

PS. Hanson doesn’t mention James Comey, Director of the FBI, who personally decided against the prosecution of Hillary Clinton for her manifest crimes.

Go here to read about his place in the power web.

Getting it and getting away with it 0

Investor’s Business Daily reports that Alan Greenspan “gets it” – which should not come as a surprise considering he was Chairman of the Federal Reserve for nearly 20 years – and recaps what happened that made America and the world poorer.

Testifying before the Financial Crisis Inquiry Commission, the former Fed chairman told some plain truths he didn’t dare utter when he headed the central bank. Most notably, Greenspan implied it was Congress’ meddling incompetence — not the Fed, or free markets, or greedy bankers — that created the financial meltdown. …

It wasn’t the Fed that caused the housing crash and financial meltdown. It was Congress and the White House.

The mess began in the 1970s when, during the Carter administration, left-wing activists attacked banks for supposed “redlining” practices that let them discriminate in making home loans.

In response, Congress passed the Community Reinvestment Act, which gave regulators the power to force banks to lend money to “low-income, minority, and distressed neighborhoods.”

To fund all this new lending, they used two little-known government-sponsored enterprises — Fannie Mae and Freddie Mac — and essentially rewrote credit standards for the banks, weakening them substantially. Banks made loans, then Fannie and Freddie bought them — using borrowed money to do it.

In this environment, credit ratings no longer mattered much. Neither did having a job or a steady income. What mattered was race.

The process got supercharged in 1992, when a Democrat-led Congress pushed Fannie and Freddie to buy even more mortgages from banks that had made loans to low-income and minority buyers. In 1996, President Clinton’s Department of Housing and Urban Development told Fannie and Freddie that 42% of their financing had to go to those with incomes below the median.

By 2000, HUD [Department of Housing and Urban Development] Secretary Andrew Cuomo proudly unveiled “new regulations” to “provide $2.4 trillion in mortgages for affordable housing for 28.1 million families.” Despite subsequent efforts at reform, Democrats in Congress — led by Sen. Chris Dodd and Rep. Barney Frank — rejected major changes to Fannie and Freddie.

We’re still paying for that today. Fannie and Freddie have gotten a blank check from the government for their losses, and still owe more than $5 trillion that they can’t pay off.

We’ve been critical of Greenspan in the past, but on this, he’s completely right. The biggest villain in the whole financial meltdown isn’t the “private sector,” as some in Congress — like Rep. Frank — have tried to claim. It’s Congress itself.

Shouldn’t those responsible, notably Chris Dodd and Barney Frank, be made to answer for the world-size wreck? What they’ve done to the economy makes Bernie Madoff’s crooked scheme look paltry.

If it’s not to find who is guilty, so that the culprits may be consigned to their just deserts, what is a Financial Crisis Inquiry Commission for?

Free market not to blame for economic crisis 0

 Thomas Sowell puts blame where it belongs: 

It was liberal Democrats, led by Senator Christopher Dodd and Congressman Barney Frank, who for years– including the present year– denied that Fannie Mae and Freddie Mac were taking big risks that could lead to a financial crisis.

It was Senator Dodd, Congressman Frank and other liberal Democrats who for years refused requests from the Bush administration to set up an agency to regulate Fannie Mae and Freddie Mac.

It was liberal Democrats, again led by Dodd and Frank, who for years pushed for Fannie Mae and Freddie Mac to go even further in promoting subprime mortgage loans, which are at the heart of today’s financial crisis.

Alan Greenspan warned them four years ago. So did the Chairman of the Council of Economic Advisers to the President. So did Bush’s Secretary of the Treasury, five years ago.

Yet, today, what are we hearing? That it was the Bush administration "right-wing ideology" of "de-regulation" that set the stage for the financial crisis. Do facts matter?

We also hear that it is the free market that is to blame. But the facts show that it was the government that pressured financial institutions in general to lend to subprime borrowers, with such things as the Community Reinvestment Act and, later, threats of legal action by then Attorney General Janet Reno if the feds did not like the statistics on who was getting loans and who wasn’t.

Is that the free market? Or do facts not matter?

His article also deals with how Obama benefited from Fannie Mae. He concludes: 

The country does not deserve to be put in the hands of a glib and cocky know-it-all, who has accomplished absolutely nothing beyond the advancement of his own career with rhetoric, and who has for years allied himself with a succession of people who have openly expressed their hatred of America.

Posted under Commentary by Jillian Becker on Saturday, October 4, 2008

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