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Bad Day At Barack Rock

I get the feeling that today is not going to be a happy one at Club Obama.

First up, some evil folks managed to dig up video of him discussing how his experiences working alongside unrepentant former terrorist William Ayers qualify him for higher office (thanks, Lorie!). In recent times, he's tried to downplay and minimize his role in the Chicago Annenberg Challenge program (he only headed it up while it threw over $100 million down the toilet in a failed attempt to improve Chicago's schools), but back in 2000, he was quite proud of his work there.

Next, we have even more bad news in the financial industry. Two big investment firms are in huge trouble, and the aftershocks of that could echo for years. It's all tied in to the subprime mortgage mess, they say, and the collapse of Fannie Mae and Freddie Mac.

You're going to hear all sorts of vague imprecations of blame heaped on President Bush, and they'll try to slop that over on to John McCain. But how accurate is that, really?

Well, back in July John McCain was warning about problems at Fannie and Freddie, and leaning on the Bush administration for briefings on the situation.

So, what about the Obama camp? Were they caught by surprise by events?

One wouldn't think so. After all, two of his top economic advisers have some pretty darned good connections with those two.

Franklin Raines worked at Fannie Mae for years, rising to vice-chairman until Bill Clinton tapped him to head up the Office of Management and Budget. Raines returned to head Fannie Mae in 1999, staying until he "retired" in 2004 amid allegations of accounting irregularities and the revelation that he had received a sweetheart mortgage deal from Countrywide.

Jim Johnson preceded Raines at Fannie Mae, where he had run the company as chairman from 1991 to 1998. Johnson served on Barack Obama's vice-presidential search committee until it was revealed that he, too, had gotten sweetheart loans from Countrywide.

Today, it seems that many people see hypocrisy as the greatest sin. They gleefully play the "gotcha" game when they think they might find the slightest deviance from a figure's public utterances and their personal conduct. It's a stupid game, but it's the one we have today.

But to the ancient Greeks, the greatest sin was hubris. They saw overwhelming pride and arrogance and presumptuousness as the most offensive and dangerous of beliefs.

Recently, Charles Krauthammer (the man who coined the phrases "Bush Derangement Syndrome" and "the Bush doctrine," among other accomplishments) tracked the rise and fall of Barack Obama through five speeches he gave, discussing how at each point that one speech signified a major change in Obama'a attitudes and fortunes.

In the third speech, given at his moment of triumph on the night of the final Democratic primary, when he had indisputably won the presidential nomination, he announced that his victory would be remembered as "the moment when the rise of the oceans began to slow and our planet began to heal."

At that point, it was clear to a lot of people that he himself had fallen for the whole "Obamessiah" complex.

That is the same pride that is threatening to bring hm low. In 2000, he was enormously proud of his work at the Chicago Annenberg Challenge. Less than two years later, it dissolved after having pissed away over $100 million with nothing to show towards its stated goals of improving Chicago's schools. He was tremendously proud of his 20-year history as a member of the Trinity United Church of Christ, until the years of race-baiting and demagoguery of its head, Reverend Jeremiah Wright, came out.

He is tremendously proud of his board of economic advisers -- at least he was, at last check. Now that the whole nation can see just who those advisers are, and just what they've done, how long will Misters Johnson and Raines remain affiliated with Obama?

And at what point will people start to question the one thing Obama has always touted as his greatest strength -- his judgment -- in choosing men like this for such significant roles in his campaign?

As I said, this could be a very, very bad time for Barack Obama. I almost feel sorry for him, but then I remember -- he brought all this on himself.


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Comments (13)

OUCH!That video is... (Below threshold)
marc:

OUCH!

That video is going to leave a mark.

(And make Lee Ward piss his pampers!)

think mr raines&mr johnson ... (Below threshold)
1903A3:

think mr raines&mr johnson will get thrown under the bus sometime today? nah,didnt think so

Great post Jay. Do... (Below threshold)

Great post Jay.

Don't forget Jamie Gorelick!

Jay,To any reasona... (Below threshold)
nehemiah:

Jay,

To any reasonably fair person, the above information would give one very serious pause about Barack the presidential candidate, but we know that to the American Left, the above really is not a big deal and in some ways validates that he is a genuine Leftist candidate (and the socialists will find such information reassuring).

Recently in the Virginia Beach/Hampton area there have been three black individuals who have been charged with turning in fraudulent voter registrations -- apparently they work with a group that tries to register minority voters -- this is of course a euphemism -- their goal is to register as many voters that will vote for the democratic party, and know that blacks normally vote about 90% for the democrats -- so it's almost a sure thing that when you register a black person that you are more or less adding to the democratic vote. Also realize that during election day, anyone that is black will be hounded by several sources to see if they've voted -- this will be done all over the country especially in battleground states -- all done based on race (and the left accuses us of stereotyping). But in fact, this is playing the game smart for those that are on the left, as it will prove to be a productive theory and endeavor. We on the right need to find some way of balancing this type of tactic -- whether it is to make sure to target the white male voting bloc or some similar method, as in times like this, we've got to play to win just as they are playing as if their lives depended on it.

"and in some ways val... (Below threshold)

"and in some ways validates that he is a genuine Leftist candidate"

In other words, it's a confirmation that he hasn't the first clue how to run a free world economy and will trash it like the USSR's, all the time blaming what's going on as actions by wreckers and spoilers?

Makes you wonder whether the left really prefers existance within a nationalized subsistence economy, with daily governmental rations of gruel for the proletarian hordes and steak for the party elite... After all, what's the point in being priveleged if EVERYONE can have the same stuff?

Raines' and Johnson's links... (Below threshold)
hermie:

Raines' and Johnson's links to the Fannie Mae/Freddie Mac debacle, and their cushy relationship with Countryside needs to be given max coverage. These are prime examples of the Obamamessiah's 'judgement'.

A very sad commentary to be... (Below threshold)

A very sad commentary to be sure, but sader still, is the reality is that this is all, in large part, business as usual in American politics. Sadder still, is that there is a cultural theme that I can't help applying to America in the 21st Century; Sex, Drugs and Rock & Roll.

I stumbled into a political cartoon that, in a twisted sense, kind of expresses the hopelessness I feel with our political leadership as the first decade of the 21st century draws to an end. Thought you might appreciate the cartoon, compliments of Cafe Press.

http://www.cafepress.com/usa21stcentury

Uhm...Where are the libs to... (Below threshold)
Clay:

Uhm...Where are the libs today?

The libs are working on dre... (Below threshold)
epador:

The libs are working on dredging up something about some scandal with a guy named Keating or something...

Hmm. Perhaps he intended to... (Below threshold)
mcg Author Profile Page:

Hmm. Perhaps he intended to use his experience working alongside terrorist William Ayers as proof that he's capable of sitting down for talks with terrorist Ahmadinejad, or terrorist Abbas. Makes sense.

This is all very interestin... (Below threshold)
dooz:

This is all very interesting, and not at all surprising, information, and would in fact cast doubt on Obama's ability to choose the right people. But do we really need evidence on that issue, with Biden as his running mate?

Here's <a href="http://arti... (Below threshold)
Mike:

Here's another good writeup about McCain's July 2008 dress-down of Fannie and Freddie, from Lawrence Kudlow at NRO.

In another comment thread I also pointed out Obama's intimate links to ACORN, which (while they were not committing massive voter registration fraud) was busy bullying lenders into giving undocumented and low-income applicants unfettered access to mortgages. Incredibly, ACORN received funding from Fannie and Freddie to finance these efforts.

Obama will undoubtedly try to blame Republicans for all of the mortgage lender and bank failures, but given his record of cronyism with the honchos at ACORN and Fannie Mae, I have zero confidence that Obama would affect any kind of real "change" in the government policies that contributed to these problems in the first place.

It can't get any better, or... (Below threshold)
KansasGirl:

It can't get any better, or can it?




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