E-Editions | Subscriptions | Contact Us | About Us | Classifieds | FREE Classified Items Under $50 | Photos
The Lakeland Times | Minocqua, Wisc.

Mulleady Realtors

home : letters : letters May 2, 2016

10/5/2012 4:12:00 AM
Votes will determine nation's economic future

To the Editor:

President Obama claims he is working to help the middle class.

Actually, Mr. Obama contributed to the sub-prime real estate bubble when he sued Citibank and destroyed the real estate investment for seniors whose home equity is typically the main source of funds to secure their retirement. 

Roughly half of the African-American benefactors of this 1995 lawsuit have gone bankrupt or face foreclosure. Mr. President, stop helping us.

The suit against Citibank plus the progressive legislative policies forcing Fannie and Freddie to loosen requirements for mortgage qualifications were created by egotists determined to push home ownership. In fact, the policies wiped out about $4 trillion in equity once held mainly by the middle class.

Citibank proved that anyone with the required down payment and qualifying salary had been granted a loan and those requirements were racially neutral. 

Details of threats and intimidation used by Acorn and others are available in Paul Sperry’s The Great American Bank Robbery, which documents factors other than race which shaped the decision to reject some loan applications. 

President Obama blames the housing bubble on GOP deregulation even though President George W. Bush expanded regulations.

Obama runs ads holding Republicans responsible for the economic crisis while omitting his detrimental role in the financial lives of African-Americans and the middle class.

Progressives manipulate the free markets and then blame the free markets for the failure of liberal policies.

Candidates Romney, Ryan, Duffy, and Rivard oppose this manipulation of free markets. Your vote will determine America’s economic future.

Karen Schroeder
Rice Lake

Article Comment Submission Form
Please feel free to submit your comments.

Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it.

Note: All information on this form is required. Your telephone number is for our use only, and will not be attached to your comment.
Submit an Article Comment
First Name:
Last Name:
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.

Advanced Search
search sponsored by

Subscription Login

Life | Snow/Trail Conditions | Road Conditions | Wisconsin Lottery | Facebook

Lakeland Printing, Inc. • P.O. Box 790 • Minocqua, WI 54548

The Lakeland Times • The Northwoods Super Shopper
Phone: (715) 356-5236 • Fax: (715) 358-2121

Members of the Wisconsin Newspaper Association, Wisconsin Community Papers, Rhinelander Area Chamber of Commerce, Minocqua Area Chamber of Commerce

Software © 1998-2016
1up! Software
, All Rights Reserved