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September 20, 2008

Confused Americans for Truth - Another False Obama Rumor

by Ferdinand T Cat

I promised to keep on top of false rumors about Democratic Presidential candidate Barack Obama. This latest one is perhaps the most outlandish of all: according to a story by the French news agency AFP, Obama knows how to fix our economic problems.

The fact behind this rumor is that Obama has close ties to James Johnson. Johnson was the beneficiary of a plan to cook the books at Fannie Mae, served as a managing director at Lehman Brothers. and took out a sub-prime mortgage from Countrywide Financial. The man practically invented the current meltdown, so the theory is that he can tell Obama how to stop it from happening again.

The problem is that Obama thinks this mess was caused by a lack of government interference, but the exact opposite is true: the low interest rate that made sub-prime mortgages possible was a deliberate policy of the Federal Reserve, and Fannie Mae and Freddie Mac were created by the government in order to make more money available in the mortgage market. At some point, "more" was bound to cross over into "too much".

So, the next time you see somebody spreading this ridiculous rumor, let them know that it's just another one of those stories being spread to keep the candidates from speaking directly to the issues. Yes, Obama is working on a new economic policy to handle this crisis, but by the time he figures it out, chances are that the economy will have fixed itself.

It's simply not relevant to this particular campaign.

Respectfully submitted

Ferdinand T. Cat

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Those who support Obama/Biden are either too stupid to see the truth or don't care because they stand to gain by liberal handouts like Obama's windfall profits tax and the remainder of his list for redistribution of wealth.

For all his imperfections, John McCain becomes an ideal choice in another election that is less than ideal.


Posted by: Stanford Matthews at September 23, 2008 10:34 AM

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