In the March14 issue, Robert LaRosa reached a new low in his attempt to make a case for the Democrats (“Republicans are repulsive...”). In his first paragraph he wrote that Obama was “the one responsible for dragging this country out of the ditch Bush and the GOP put us in.”
I would like to present Mr. LaRosa with some facts I havenoted before on this page but no onehas been able to address.The Sept. 30, 1999 New York Times stated that “Fannie Mae, the nation’sbiggest underwriter of home mortgages, has been under pressure from the Clinton Administration to expand mortgage loans among low and moderate income people.” In the same article PeterWallison of the American Enterprise Institutestated, “From the perspective of many people, including me, this is another thrift industry growing up around us.If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”
When George W. Bush became president, he did nothing since home ownership was rising. The Democrats with their mantra of “affordable housing” had no problems with what was going on.I suggest Mr. LaRosa go to You Tube and search “2004 Fannie Mae Hearings” to see for himselfthat I am telling the truth.
Then-Sen. Barack Obama received over $111,000 from the Fannie Mae PAC, which was one of the highest amounts received by anyone in the Congress.Obviously Fannie Mae appreciated the senator’s support.At this point, Fannie Mae has cost taxpayers way over $100 billion.
To solely blame Republicans for the housing collapse is not supported by the facts.If Mr. LaRosa believes I am wrong let him respond.However, he has to be specific and not level charges without backing them up.
Mr. LaRosa finished his letter by writing “the Republican ‘children’ in Congress cry about losing a presidential election, twice, to a black man.” To bring up the race card to imply that Republicans are racists is itself racist, and a despicable thing to write.The only thing that is repulsive is Mr. LaRosa’s letter.