Disastrous misjudgment? 2

The New York Times claims that President Bush turned down an Israeli request for bunker-busting bombs and permission to overfly Iraq so that the Israeli Air Force could disable or destroy Iran’s nuclear-bomb production.

The NYT cannot be trusted to report the truth, but in this instance it’s not easy to see how lying would be in the interests of that traitorous newspaper.

If the report is true, then Bush has imperiled the world. By letting Iran become a nuclear power, he becomes a co-author of the terror and destruction Iran will inflict on Israel and all of us.  

We praise President Bush for eliminating the tyrant Saddam Hussein, for leading America to victory in Iraq, and for keeping Americans safe from more terrorist attacks after 9/11.

But if he is now tolerating Iran’s arming itself with nuclear bombs, he is undoing the good he has done. A nuclear armed Iran is a far greater threat to America than Saddam Hussein and Osama bin Laden ever were.

President Clinton had a number of opportunities to kill Osama bin Laden and each time made the bad judgment not to do so. If President Bush has really stopped Israel from destroying Iran’s bomb-producing sites,  he has made a worse misjudgment. America will pay dearly for it.

All hope that the US itself will act effectively to stop Iran ends, we believe, with the Bush presidency. It seems to us most unlikely that Obama will do anything but make futile attempts to appease that evil regime.

Posted under Commentary by Jillian Becker on Monday, January 12, 2009

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The meltdown culprits: Obama, Pelosi, Clinton … 2

 An Investor’s Business Daily editorial makes it clear who is responsible for the financial crisis, and why:  

The risk-taking was her [Pelosi’s] idea — and the idea of all the other Democrats, along with a handful of Republicans, who over the past 30 years have demonized lenders as racist and passed regulation after regulation pressuring them to make more loans to unqualified borrowers in the name of diversity.

They were the ones who screamed — "REDLINING!" — and sent banks scurrying for cover in low-income neighborhoods, where they have been forced to lower long-held industry standards for judging creditworthiness to make the subprime loans.

If they don’t comply, they are threatened with stiff penalties under the Community Reinvestment Act, or CRA, a law that forces banks to make home loans to people with poor credit risks.

No fewer than four federal banking regulatory agencies are responsible for enforcing the law. They subject lenders to racial litmus tests and issue regular report cards, the industry’s dreaded "CRA rating."

The more branches that lenders put in poor neighborhoods, and the more loans they make there, the better their rating. Those lenders with low ratings can not only be fined, but also blocked from mergers and other business transactions needed to expand.

The regulation grew to monstrous proportions during the Clinton administration, obsessed as it was with multiculturalism. Amendments to the CRA in the mid-1990s dramatically raised the amount of home loans to otherwise unqualified low-income borrowers.

The revisions also allowed for the first time the securitization of CRA-regulated loans containing subprime mortgages. The changes came as radical "housing rights" groups led by ACORN lobbied for such loans. ACORN at the time was represented by a young public-interest lawyer in Chicago by the name of Barack Obama.

Banks and other lending institutions should not be the servants of government. They should be in business to make a profit. In the end, the perversion of their purpose harmed the whole economy, and the worst sufferers are precisely those that the misdirection of their function was supposed to help.  

 

Posted under Commentary by Jillian Becker on Thursday, September 18, 2008

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Blame Clinton for the subprime meltdown 2

 This from the Investor’s Business Daily:

Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.

But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street’s most revered institutions.

Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.

Obama’s ‘remedies’ would make matters much worse, the editorial declares.

Read the whole thing here.

 

Posted under Commentary by Jillian Becker on Tuesday, September 16, 2008

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But the change-ists don’t like the change 0

 … so Power Line asks, what do they really want? 

We’re all enjoying, for now, the anguish experienced by many on the left over Barack Obama’s entirely predictable lunge towards the center, now that he has clinched the Democratic nomination. But few seem to be enjoying it more than our friend Tiger Hawk. He writes:

In this morning’s lead editorial ("New and Not Improved"), [the editors of the New York Times] detail and denounce many of Obama’s post-Hillary pivots to the center. As their irritation builds, I’m thinking that there are only three positions that could explain this editorial. First, that the editors genuinely believe that Obama could win the general election with his primary season policy ideas. It is believable that they think this because they live inside a Manhattan cocoon, but silly. Second, that the editors would rather that Obama lose than compromise his principles. This seems unlikely in the cold light of a November morning, however satisfying it might feel to spew such romantic drivel on the Fourth of July. Or, third, the editors know that Obama’s pivots will be much more believable to the swing voters if the Times denounces them. This theory holds that the editors are pretending to be outraged so as to further deceive the rubes who prefer the Flop to the Flip.

It is so hard to know which explanation to believe.

 

The first explanation seems like the most plausible of the three, but let’s consider two more. Fourth, the New York Times is just posturing. It wants Obama to win at all costs and recognizes that (though he might well win running from the left), his chances are better if he moderates. However, the editors want to preserve their purity and can do so at no cost by expressing disappointment with Obama. Fifth, the Times is thinking ahead. It understands that Obama maximizes his chances of winning by tacking towards the center and isn’t that bothered that he’s doing so. But it has its eyes on the Obama presidency and wants to make it plain to the candidate that, as president, he’ll need to return to his lefitst principles if he wants to stay on the Times’ good side. 

Posted under Commentary by Jillian Becker on Sunday, July 6, 2008

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They change okay, but how can we believe them? 0

 Obama and Clinton – lest we forget, read a reminder here

Posted under Commentary by Jillian Becker on Sunday, July 6, 2008

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