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"And ye shall know the truth, and the truth shall make you free." - John 8:32
WEBCommentary Contributor
Author:  Michael J. Gaynor
Bio: Michael J. Gaynor
Date:  October 6, 2008
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Topic category:  Other/General

Obama Democrats Caused and Prolonged the Financial Crisis

Voter ignorance is the biggest advantage for Obama and the Democrats, much bigger than voter fraud.

When a detective wants to find who committed a crime, that detective asks a simple question, "Who benefited?"

Polls show that the current financial crisis benefited Obama and most Congressional Democrats and it has been noticed that some Democrats tried to make ACORN a beneficiary of the rescue plan.

So Obama ("the Senator from ACORN), ACORN and plenty of Congressional Democrats are suspects to be investigated.

It is fundamental that the economy depends on confidence.

Which party has been undermining that confidence?

The Democrat Party.

Which presidential candidate has been undermining confidence in the economy?


At bottom, what is the cause of the financial crisis?

Many loans not being repaid on time.

Why aren't they being urepaid on time?

Uncreditworthy lenders obtained loans that they are unable to repay.

Fact: many risky loans were made as a result of pressure from ACORN (the Association of Community Organizers for Reform Now) and their liberal Democrat Congressional allies and most people did not appreciate what was happening and what ultimately would happen as a result.

National Journal's Stuart Taylor, Jr., in his latest article, "The Sound And Fury Behind The House's Failure,"lamented that "[m]any voters are uninformed about public affairs and deluded by populist simplicities."

Democrats count on that to keep power in Congress and to capture the White House.

The nineteenth paragraph of Taylor's article should be explained to those uninformed voters and deluded populists.

Taylor put it this way: "Among other things, leading Democrats have in recent years opposed -- while the Bush Treasury Department, the Fed, McCain and other Republicans supported -- tighter restraints on Fannie Mae and Freddie Mac. Meanwhile, the two mortgage giants were catering to (disproportionately) Democratic demands for 'affordable housing' while lavishing many millions on campaign contributions, a gigantic lobbying apparatus, and excessive executive compensation. The proposed restraints in a 2005 Senate bill that Democrats deep-sixed, for example, would have prevented Fannie and Freddie from recklessly pouring so many hundreds of billions of (implicitly) government-guaranteed dollars into risky investments, including subprime mortgages for borrowers without the means to carry them."


As I previously explained in detail, catering and/or caving to ACORN eventually created the crisis.

Bush and McCain were right, but Obama and his Congressional allies, particularly Senator Christopher Dodd and Congressman Barney Frank, blocked the necessary corrective action that Bush and McCain wanted to have taken.

Taylor duly documented the abysmal (and dangerous) ignorance of many voters:

"Shenkman, in Just How Stupid Are We? Facing the Truth About the American Voter, and the authors of several other recent books cite polls, social-science studies, and other evidence showing that, for example, only two in five Americans can identify the three branches of the federal government; fewer than half know who Karl Marx was, or which war the Battle of Bunker Hill was part of; and only four in 10 people between the ages of 18 and 24 can find Iraq on a map.

"'I am convinced... that, over the past several decades, we have become less knowledgeable, more apathetic, more reliant on others to think for us, more susceptible to simple answers, and more easily exploited,' William Pannapacker, an associate professor of English at Hope College, concluded in a Chronicle of Higher Education review of seven books on voter ignorance."

That's why Obama is a viable presidential candidate!

That's why many Democrats demagogue.

Taylor: "Small wonder that so many voters are fixated on the mistaken notion that the main beneficiaries of the bipartisan rescue plan would be Wall Street elites. In fact, the main beneficiaries would be the millions of ordinary Americans who will lose their jobs as we plunge into a deep recession -- or worse."

That's the result of demagoguery.

There were better ways to deal with the problem, but the Democrats would not permit them and a rescue had to be undertaken for the sake of the national economy and the citizenry as a whole.

Taylor: "Congressional leaders understood.... But many of their members did not, or at least pretended not to understand to avoid casting unpopular votes."

Pathetically, politics was played with the rescue plan. It had to be voted down first, before it could be modified and passed.

The Democrats had the power to pass the original bill without a single Republican vote, but they did not want to do it.

Speaker Nancy Pelosi's speech before the original House bill evidenced her desire NOT to have that bill passed and then blame the Republicans and claim that McCain had been ineffectual in the crisis.

Taylor: "Pelosi's partisan rant -- 'for eight years, this government has followed a right-wing ideology of anything goes, no supervision, no discipline, no regulation' -- was especially misleading in blaming Republicans alone for a financial crisis that Democrats did much to bring about."

The financial crisis was working well for Obama and the Democrats (because most voters were unaware and the mainstream media was not reporting that ACORN and the Democrats had brought about the crisis), so Pelosi let the crisis continue for a week without passing a plan!

Voter ignorance is the biggest advantage for Obama and the Democrats. much bigger than voter fraud.

But the truth can set us free and block an Obama presidency!

Michael J. Gaynor

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Biography - Michael J. Gaynor

Michael J. Gaynor has been practicing law in New York since 1973. A former partner at Fulton, Duncombe & Rowe and Gaynor & Bass, he is a solo practitioner admitted to practice in New York state and federal courts and an Association of the Bar of the City of New York member.

Gaynor graduated magna cum laude, with Honors in Social Science, from Hofstra University's New College, and received his J.D. degree from St. John's Law School, where he won the American Jurisprudence Award in Evidence and served as an editor of the Law Review and the St. Thomas More Institute for Legal Research. He wrote on the Pentagon Papers case for the Review and obscenity law for The Catholic Lawyer and edited the Law Review's commentary on significant developments in New York law.

The day after graduating, Gaynor joined the Fulton firm, where he focused on litigation and corporate law. In 1997 Gaynor and Emily Bass formed Gaynor & Bass and then conducted a general legal practice, emphasizing litigation, and represented corporations, individuals and a New York City labor union. Notably, Gaynor & Bass prevailed in the Second Circuit in a seminal copyright infringement case, Tasini v. New York Times, against newspaper and magazine publishers and Lexis-Nexis. The U.S. Supreme Court affirmed, 7 to 2, holding that the copyrights of freelance writers had been infringed when their work was put online without permission or compensation.

Gaynor currently contributes regularly to,,, and and has contributed to many other websites. He has written extensively on political and religious issues, notably the Terry Schiavo case, the Duke "no rape" case, ACORN and canon law, and appeared as a guest on television and radio. He was acknowledged in Until Proven Innocent, by Stuart Taylor and KC Johnson, and Culture of Corruption, by Michelle Malkin. He appeared on "Your World With Cavuto" to promote an eBay boycott that he initiated and "The World Over With Raymond Arroyo" (EWTN) to discuss the legal implications of the Schiavo case. On October 22, 2008, Gaynor was the first to report that The New York Times had killed an Obama/ACORN expose on which a Times reporter had been working with ACORN whistleblower Anita MonCrief.

Gaynor's email address is

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Copyright 2008 by Michael J. Gaynor
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