James Simpson has a detailed piece (H/T RedState) in the American Thinker that suggests Obama’s involvement in the current economic crisis was not only motivated by his political leanings, but was intentional. The article ties Obama to ACORN, William Ayers, Saul Alinsky, Carl Davidson, George Soros, and other radical individuals and groups.
A particularly telling finding by Simpson:
Most significantly, Penny Pritzker, the current Finance Chairperson of Obama’s presidential campaign helped develop the complicated investment bundling of subprime securities at the heart of the meltdown. She did so in her position as shareholder and board chair of Superior Bank. The Bank failed in 2001, one of the largest in recent history, wiping out $50 million in uninsured life savings of approximately 1,400 customers. She was named in a RICO class action law suit but doesn’t seem to have come out of it too badly.As a young attorney in the 1990s, Barack Obama represented ACORN in Washington in their successful efforts to expand Community Reinvestment Act (CRA) authority. In addition to making it easier for ACORN groups to force banks into making risky loans, this also paved the way for banks like Superior to package mortgages as investments, and for the Government Sponsored Enterprises Fannie Mae and Freddie Mac to underwrite them. These changes created the conditions that ultimately lead to the current financial crisis.(italics in original version)
Read the entire article, as it helps reveal the larger picture, whether or not Obama wanted to create any economic panic. Simpson believes, as do I, that liberals are often aware of the consequences of their failed policies but continue to push them in order to benefit themselves. We’re seeing such an attempt to fail in the bailout bill.
UPDATE: Stanley Kurtz added another piece on Obama and ACORN, with a further look at how ACORN contributed to the crisis (H/T Hot Air).
