Buckle Up for Housing Bubble Part Deux

by: the Common Constitutionalist:

It’s déjà vu all over again! Reports are coming in that the federal government is once again relaxing the rules regarding mortgages. The new rules being adopted by both Fannie Mae and Freddie Mac, the quasi-government mortgage insurers, decreased the down payment requirements from 5% to 3%.

Mel Watt, director of the Federal Housing Finance Agency said, “Through these revised guidelines, we believe that the enterprises will be able to responsibly serve a targeted segment of credit worthy borrowers with lower down payment mortgages by taking into account compensating factors. It is yet another much-needed piece to the broader access-to-credit puzzle.”

You may have noticed that Watt used the code words, “targeted segment”, which of course means minorities.

So who is Mel Watt? Well back in January, IBD warned us all of who he is. They wrote: “We warned that Watts swearing in as head of the Federal Housing Finance Agency would mark the start of the next housing bubble. We pointed out the Congressional Black Caucus former head has a soft spot for those who can’t afford homes and that as a Democrat lawmaker he pressed Freddie to lend even to ‘welfare recipients’ in his district.”

In other words, Mel Watt is a Social Justice Racialist. read more

Dick Durbin Bullies Walgreen

from IBD:

Well, the thugs and bullies in the White House and on Capitol Hill have scored another victory — if you can call it that — over a major American company.

After a month of assaults and threats from the D.C. political class, venerable drug retailer Walgreen Co. announced it will remain headquartered in Illinois for the time being instead of entering a tax-inversion merger with Europe’s Alliance Boots that would move it abroad to lower its tax bill.

Good news for Washington, but the millions of Walgreen shareholders aren’t partying it up. read more

Unions Sour On Green Aganda

In a colossal “See, We Told You So”, it seems even Unions are souring on The Obama “Green” agenda. The shame of it is that probably 90% of them voted for their own potential demise by voting for Obama.

from IBD:

Well, well. Another big union has publicly declared that its members are the real front-line victims of the Obama administration’s war on domestic energy production.

The International Brotherhood of Electrical Workers came out with guns blazing this week against the Environmental Protection Agency’s proposed Clean Power Plan.

In a press release, it warns what we’ve been saying about these economically masochistic carbon emission regulations from the start: “They will kill more than 150,000 good jobs while having a minimal effect on global greenhouse emissions.” read more

McDonald’s CEO Supports Raising The Minimum Wage

from IBD:

Don Thompson, CEO of McDonald’s, recently remarked that his company would support raising the federal minimum wage from $7.25 to $10.10 per hour.

It is always noteworthy when a chief executive has kind words about regulation affecting his industry. After all, if McDonald’s saw benefit in paying its workers more, it could do so today without having to wait for Congress. No regulation needed. read more

Holder To Ban Religion In Terror Probes

While reading the following article, ask yourself why? What could be the administration’s possible motivation? Is it just political correctness gone amuck, the obvious affection for the Muslim Brotherhood or something else – something far worse? Something like the want to invoke Martial Law if another attack occurs. Whatever the motivation, it appears the administration is inviting another attack.

 

from IBD: According to NBC News, the Justice Department will soon prohibit religious profiling in terror cases. The move, if true, would completely blind federal law enforcement to the threat from Islamic extremism.

Already, the department has forced the FBI to bleach references to “Islam” and “jihad” from its counterterrorism training materials. It’s also made it harder for agents to infiltrate radical mosques.

But Attorney General Eric Holder reportedly now wants to make it illegal for agents to even consider religion in their investigations.

Democrats on the Hill are cheering the changes, along with the ACLU and radical Muslim Brotherhood front groups, who have all lobbied the administration for them. The Council on American-Islamic Relations, which has seen several of its officials jailed on terror-related charges, calls it “a step in the right direction.”

Appearing before the Democrat-controlled Senate Judiciary Committee in 2012, CAIR demanded the administration remove religion as a factor in terrorism investigations, even though just four years earlier Justice had named CAIR an unindicted terrorist co-conspirator. read more

Why Is The Press Fighting To Protect Wendy Davis?

Bias: Have you heard the one about the Texas gubernatorial candidate who created a fictional life story to sell herself to voters? Probably not, since the person in question is a darling of the liberal media.

Wendy Davis hit the national spotlight last year when she mounted an 11-hour filibuster against a bill to ban late-term abortions in Texas (that was ultimately signed into law).

The media swooned. The New York Times called her “a feminist folk hero,” a “titan in pink tennis shoes” and “a single mother who became a lawyer (and) stood up to the Republican boys’ club.” CNN gushed about Davis’ “history of persisting against tough odds.” Others called her “courageous,” “articulate,” “gutsy” and “inspiring.”

She was a rising star in the Democratic Party with a shot at claiming the governorship in a solid-red state.

Given Davis’ oft-repeated story, such praise may have seemed fitting. The bio on her state Senate website says she’s “been taking on tough fights her entire life.” read more

Federal Government Has Declared War On Work

While 50 years ago the federal government declared war on poverty, I would submit that in recent years it has led an undeclared but real new war: a War on Work. The government increasingly is using its coercive powers to punish people who want to work, creating a vast class of able-bodied Americans dependent on the government — and politicians — for their daily bread.

The statistics are startling. A smaller proportion of working-age Americans works today than when the recession officially ended 4-1/2 years ago (June 2009).

But this trend is not just a failure of policies to encourage economic recovery, such as the stimulus package and the ineffective, highly expansionary Federal Reserve monetary policy. The decline in work has been going on since at least 2000, under both Republican and Democratic administrations. read more

Declassified Documents: Obama Knew Benghazi Was Terror

Deceit: Newly declassified transcripts show top defense officials who briefed Obama on the day of the Benghazi attack described it as a terrorist attack and told the president so, yet he pushed a false narrative about a video.

Just as the new book by former Defense Secretary Bob Gates confirmed what many believed, that President Obama was a politically motivated commander-in-chief who had no faith in an Afghan surge he put 30,000 Americans in harm’s way to execute, transcripts of congressional testimony by military leaders confirm that President Obama knew Benghazi was a terrorist attack before he went to bed to rest for a Las Vegas fundraising trip. read more

What Are Your Kids Learning?

Parents pay a fortune to send their kids to big-name colleges, and they expect strong scholarship in return. More and more, what they’re getting ranges from drivel to leftist indoctrination.

Manhattan Institute scholar Heather Mac Donald shocked a New York City audience at the 2013 Wriston Lecture this month with some examples of what leftist academics have done to the American college curriculum.

“Until 2011,” she noted, “students majoring in English at UCLA had been required to take one course in Chaucer, two in Shakespeare, and one in Milton — the cornerstones of English literature.

“Following a revolt of the junior faculty, however, during which it was announced that Shakespeare was part of the ’empire,’ UCLA junked these individual author requirements and replaced them with a mandate that all English majors take a course each in gender, race, ethnicity, disability or sexuality studies, imperial, transnational or post-colonial studies, and critical theory.” read more

Are “Lawmakers” Pro-American?

The least dispiriting moment of another grim week in Washington was the sight  of ornery veterans tearing down the Barrycades around the war memorials on the  National Mall, dragging them up the street and dumping them outside the White  House. This was, as Kevin Williamson wrote at National Review, “as excellent a  gesture of the American spirit as our increasingly docile nation has seen in  years.”

Indeed. The wounded vet with two artificial legs balancing the Barrycade on  his Segway was especially impressive. It would have been even better had these  disgruntled citizens neatly lined up the Barrycades across the front of the  White House and round the sides, symbolically Barrycading him in as punishment  for Barrycading them out.

But, in a town where an unarmed woman can be left a bullet-riddled corpse  merely for driving too near His Benign Majesty’s palace and nobody seems to  care, one appreciates a certain caution. read more