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The Insidious Danger Lurking Beneath the Surface

That which we can actually see is bad enough. Worse is what most of us don’t even know. We can see the water pooling on our lawn, but knowing there are water restrictions in effect, we can only guess that there is a leak in the pipes somewhere underground. How big and bad the leak is would only be conjecture. So it is with the Obama Administration. We can see that:

–his economic plan is nothing short of a colossal failure in applied Keynesian economics,

–he is increasingly out of touch with mainstream Americans,

–his populist, class targeted and divisive politics are gaining no traction, and

–his only response to his failures is to blame others.

What most of us don’t see and can’t possible know is the damage he is doing beneath our national lawn. He has:

–already placed two liberal judges on the bench of the United States Supreme Court, nineteen judges to the US Court of Appeals, and 74 judges to US district courts. (Fifty five further nominations are currently awaiting Senate action. There are over one hundred vacancies coming up in the Federal court system before the President’s term is over.)

–turned the theoretically neutral NLRB into a partisan, anti-capitalist, pro-union rule making body. See our previous blog addressing the Boeing situation.

–appointed such liberal hacks to the Justice Department as Eric Halperin and Thomas Perez. Can you believe that in the wake of devastation caused by the mortgage banking crisis, we actually have an activist Justice Department covertly engaged in strong-arming our banks to make minority loans at below market rates? Mr. Perez testified before Congress in 2010, saying “The foreclosure crisis has touched virtually every community in this country, but it disproportionately touches communities of color, in particular African-Americans and Latinos…Cross burnings are the most overt from of discrimination and bigotry. Lending discrimination is some of the most subtle. It’s what I call discrimination with a smile.” (See the 31 August WSJ OP-Ed page for more detail.)

This administration is taking the fair lending principle to an entirely different level. It used to be about making sure financial institutions were not charging HIGHER rates on riskier loans. Now the Obamites are basically saying the victims of the mortgage crisis are those who should not have received loans in the first place, and those who have defaulted on those loans. And banks which trade forward and seek to give loans only to those who have the ability to pay back those loans are discriminating against those who cannot pay back their debt. So the banks need to provide loans to potential deadbeats at BELOW market rates! Haven’t we seen this movie before? This is institutional racism. It has no place in our country, but it is alive and well in Obama’s Justice Department, and sowing seeds of more destruction in our financial institutions.

–You may have noted that the Justice Department added insult to injury and sued most of the major banks last Friday. It claims the banks owe Fannie Mae and Freddie Mac close to $200,000,000,000 due to misrepresentation of the risks involved in the loans that were sold to these institutions. Folks, the fox is in the henhouse.

Remember, it’s not just the outrage on the front page. If you dig deeper, there is an all-out assault on free enterprise and American exceptionalism at every turn. The leftists say all is well, and only extremists can find fault with the fine job the President is doing. What say you?

More to follow-