Obama might be sinking hard...and soon.

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No one's saying Obama, himself and by himself caused it. What they are saying Stanley Kurtz particularly in his research, that ACORN was instrumental and was the starting line for the row of dominoes that caused the pipe-burst with the regulatory structure and with eventually Fannie and Freddie. The fact that he had been involved in training ACORN people, forget his representing them in court, isn't good. It doesn't make it all him but it implicates him heavily.

These guys aren't trying to trash him for the sake of it either, if he was an equally viable choice right now I think everyone would be much happier. Stuff like this is scary though because with his leanings, as we've seen with his tax plan and yes, his tendencies to shoot for involvement with wealth-distribution tactics; its a way of thinking about our economy and the realities of property ownership as well as taxation and jobs that would be the worst thing we could get in a recession - a recession caused by this sort of social/economic philosophy of saying that economics should be politically correct; we might as well start disavowing science as well if any of its results could inflame a political or ethnic group as well.

My own side theory at this point, regarding race and social programs in the U.S. for the last 20 or 30 years; right along side the people who just blindly had good intentions I think there were plenty of people - like Saul Alinsky, who believed in socialism, wanted it here, and really when they looked at the condition of African Americans in the 1960's and 1970's they saw the perfect group to exploit in terms of both having a proletariat of sorts to work up as well as a situation where the ideas could be economically off-the-wall impractical (ie. CRA1977) but if you said anything about it, not a thing against race but only how the idea would crush under its own lack of feasibility - flag the person racist, turn any criticism about bad economic political ideas around and make people believe its all race - and it silences the critics or at least those who have their livelihood hinged on dodging that kind of bullet (political pundits and talk radio on the other hand, liberal and conservative, straight talk and potential offense is what they're there for). To this day the use of race and gender in politics, as heavily as they are used, to me just looks like a bunch of old white men manipulating minds and getting a cheap and easy vote for their ideologies out of the indoctrination that they've invested. Thinking further about this, particularly all the legitimate horrors that African Americans have gone through, the idea that people decided to catch them off guard in a hard situation and decided to manipulate it to their own gain and utopian ideology - really sickens me. I wouldn't go as far as to say that they keep them poor to keep their votes but, as our society is becoming more equal and racial barriers are dropping, the left is losing their command of minorities and women as sheer voting blocks; which has to bother them a great deal.

Minor note to techstepgenr8tion:

Iceland's import/export situation had nothing to do with it - private firms in Iceland were borrowing Dollars and Euros and Yen on the international market and loaning them on the international market. The Krona is only affected after the fact - Icelandic workers will have their standard of living reduced to pay for the plundering. Iceland's exporters will still get paid for their fish in Dollars and Euros.

major note on the theme of this thread:

The data shows that the Community Reinvestment Act was not a big part of the meltdown:

It only made them more vulnerable to the same thing, absolutely.

In the interview I posted as the OP, which it seems like few people are directly analyzing in all this, Stanley Kurtz mentioned that his most common criticism is that 'most of these banks that had the mortgage problems did not fall under the Community Reinvestment Act of 1977'. He mentions rather directly that once they reached the level of changing the regulations on Fannie Mae and Freddy Mac - the Community Reinvestment Act no longer mattered; from Fannie and Freddie everything flowed right back down to all of the banks; CRA and non-CRA.

The economic crisis has gone from bad to WORSE. The approach of just letting the free market solve the problem was the approach of Herbert Hoover. The result: The Great Depression. Ive been listening to right wing talk radio for the last year spewing endless false optimism about our economy but the reality is not in correspondence.Can you cite your sources
that ACORN played a vital role in influencing policies that caused this financial crisis? Lassez-faire has been the policy of the Bush administration for the last 8 years and guess what? Its *working*

Well then, your wish has been granted because this tripe isn't true. Obama isn't responsible for the economic crisis and he's not a terrorist.

I'd say this - take a look at what Stanley Kurtz has in writing, see where he cites his sources. Of course its not my own personal digging, most thoughts presented on here by WP members are seldom sheerly the results of their own research and that's fair for the reason that it wouldn't be practical to force people to take it that far.

I've stated neither of those things, neither have Bennett or Kurtz for that matter.

Nonetheless techstepgenr8tion, Obama appears poised to win the election unless there's some dramatic loss of his popularity. You realize he still has an 8% lead over McCain in the gallup polls...............

Has it widened again? Last week I thought they were moving closer again with the average poll showing McCain down by only 4 points.

you want to talk economic smears? Why aren't we discussing how McCain, along with four others, was instrumental in letting the *last* economic crisis fester on longer than it had to? Why aren't we discussing how McCain has been a deregulation hawk for decades?

If you want to start a thread on the Keating Five I'd encourage it. I might obviously have my own views on this in what I find salient but I still think the more people know the better and, if you have a good understanding of how that thing worked - by all means go for it.

Again, there were other rather salient factors to why the Great Depression was of the magnitude it was.

Like FDR.

Although it would take an act of God to make Obama not win this election, based on the usual way things run.

Although the devil will do. Where's Hillary again...

LOL

McCain has Laffer as an ecnomic adviser. That shows far worse judgment than Obama hanging out with Ayers on some charity board.