Friday, September 7, 2012

Did Obama Scuttle the Recovery?

The Great Pretender

By Mike Whitney

"The New York Times believes that Barack Obama is responsible for today’s sputtering economy. In an article titled “Cautious Moves on Foreclosures Haunting Obama”, Times journalist Binyamin Applebaum says that Obama’s failure to seriously address the housing crisis has left the economy weaker than it should be at this point in the recovery....

So the money was available, but the administration refused to use it for its designated purpose. Why? And why did Obama decide that it was okay for homeowners to suffer while the perpetrators of the crisis were lavished with taxpayer-funded bailouts and golden parachutes?.......

In truth, Obama’s chief economic advisors, Lawrence Summers and Timothy Geithner, opposed ANY additional spending on housing. They simply did not want to help the victims in this massive mortgage-ponzi-fraud at all. In fact, according to the Times, “Mr. Geithner told Mr. Obama that if even if an additional $100 billion were available, he still would not spend it on housing.”

That says it all, doesn’t it? The people who are actually pulling the strings are opposed to helping ordinary working people whether they have the money or not. Isn’t that what you call class warfare?

So now the economy is in the toilet, (and probably headed for recession) mainly because Obama and Co. didn’t have the balls to stand up for what’s right. That’s not to say that the carpetbagging Romney would be a better choice for president. He wouldn’t be. But let’s not delude ourselves about Obama. He is not the man he pretends to be."


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