Democrat Financial Logic Bomb Shrapnel

In the beginning, there was "Affirmative Action lending," and Bill Clinton and Andrew Cuomo saw what it was, said what it was, and it was very, very bad:

Notice Barry O's cameo appearance as an ACORN capo against Citibank?  Notice how Cuomo's "fairness" doggerrel sounds awfully similar to False Messiah's domestic/economic policy stump speech rhetoric?  Care to speculate on the inteventionary excesses he and Crazy Nancy and Dirty Harry will openly and thuggishly indulge in once they have total power and no longer have to resort to long-term sabotage plots?

Wonder why the Wall Street Journal says Chris Dodd should be answering questions under oath instead of asking them?:

Former Lehman Brothers CEO Dick Fuld was under oath Monday when he was grilled on Capitol Hill about his role in the current financial meltdown. But if Members really want to understand the credit mania, they should also call Chris Dodd.

The Connecticut Senator has been out front denouncing the “companies that form the foundation of our financial markets,” for “their insatiable appetite for risk.” He has also decried “reckless, careless and sometimes unscrupulous actors in the mortgage lending industry” and he has proclaimed that “American taxpayers deserve to know how we arrived at this moment.” To that end, we propose he take the stand — under oath.

Ah, but Dodd's testimony would be but the warm-up act.  Barney Frank and his Fannie Mae exec ex-boyfriend would be the main event (via Newsmax Insider):

Critics are crying “conflict of interest” over Democratic Representative Barney Frank’s live-in relationship with Fannie Mae executive Herb Moses while Frank was on the House Banking Committee.

Moses was Fannie Mae’s assistant director for product initiatives from 1991 to 1998.

He was also openly gay Frank’s live-in boyfriend during that time, while the Massachusetts lawmaker was on the committee that had jurisdiction over government-sponsored Fannie Mae, Fox News’ Bill Sammon reported.

Now that Fannie Mae is at the center of the recent financial meltdown, the relationship is coming under increased scrutiny.

“It’s absolutely a conflict,” said Dan Gainor, vice president of the Business & Media Institute.

“He was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive. How is that not germane?

“But everyone wants to avoid it because he’s gay. It’s the quintessential double standard.”

A top Republican House aide told Fox News: “He writes housing and banking laws and his boyfriend is a top exec at a firm that stands to gain from those laws? No media ever take note?”

Frank and Moses met in 1987 and lived together in Washington, D.C., until they split up in 1998.

National Mortgage News disclosed that Moses “helped develop many of Fannie Mae’s affordable housing and home improvement lending programs.”

Critics charge that such programs led to the mortgage meltdown and the recent government takeover of Fannie Mae, according to Fox News, which noted that Fannie Mae and its financial cousin Freddie Mac “are blamed for spreading bad mortgages throughout the private financial sector.”

In 1994, Frank thwarted efforts by President Clinton’s Department of Housing and Urban Development to impose new regulations on Fannie Mae.

Two canoodling pole-smokers sodomizing Wall Street and ultimately, the American taxpayers.  My, but the salacious metaphors write themselves, don't they?

Actually, one cannot imagine these testimonies because (1) they'll never happen under Democrat auspices and (2) if Republicans were still in the majority they'd be even more unlikely because they'd never have the balls to play hardball against that bloated albino and My Boy Lollipop.  Heck, they WERE in the majority for most of this scam's lifetime and they never blew the whistle on Dodd or Frank, much less ousted their worthless (and in Frank's case, well-aerated) asses.

Not that any of this matters anymore.  The conventional wisdom is set in cement: "Wall Street greed," cultivated by "Republican avarice" at the expense of "the little guy," let too-free markets "run wild," and it was heroic Democrats like Chris Dodd, Barney Frank, Nancy Pelosi, Harry Reid, and Barack Hoover Obama who led the federal government to the "rescue" and "saved the economy".  But truth will have to be its own reward, if for no other practical reason than to set the stage for the swing of the political pendulum back towards the center-right in 2010 and 2012.

On that score, Ensign Ed has composed a pretty good prologue:

While Democrats like Barack Obama, Harry Reid, and Nancy Pelosi keep blaming “greed” for the collapse, it was Democrats like Barney Frank and Chris Dodd building that “greed” into the system in order to drive the subprime lending market.  And it was Democrats like Frank, Dodd, Maxine Waters, and Lacy Clay who suggested that regulators like Armando Falcon were racists for blowing the whistle on the Ponzi scheme they created.

The Democrats decided, as Michelle says, that mortgages were a civil right, and wouldn’t cost the American taxpayers a dime.  How well is that working out, America?