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Christianity caused the housing crisis UPDATE: none

Ok … now they’re just sounding stupid. The media. Specifically, the Atlantic. From the Morning Joe, author Hanna Rosin tries to link the housing crisis with Mega church preaching …

“Just go out and seize that house, the money will come … and this kind of intersected with the housing crisis.”

I have not read the article, not sure I need to, but at least in this interview she quantifies nothing, as in the number of foreclosures vs the number of people who attend these churches. We sort of. Her proof is the location of the highest number of foreclosures coincides with the location of the mega churches.

Make sure you get to the where CNBC’s Maria Bartiromo takes a whack at her theory. I am not going to give it away. It comes at 1:30.

Ok, I can’t resist Hana … this one is for you.

Let me part with this too. The title of her article is Christianity caused the housing crisis “Did Christianity Cause The Crash?”. Christianity encompasses a lot of sects. I can’t speak for others, but the two churches I attended, tend to people’s spiritual life more, not their personal wealth. One is very small, and lovely, operates on a shoe string and ministers to some great folk who don’t desire riches, at least not here on earth. The other, the Catholic Church, we spend our time feeding the hungry and caring for the homeless, visiting the old and disabled, and so much more. In both, members are asked to give to carry out these missions but nothing is promised in return, not even salvation.

When an article like this uses a “crisis” to take a whack at en entire belief, it’s worth noting, simply to point out the nonsensical stuff that passes as reporting these days.

Update: Well I have finally read the article and nothing has changed. It is more of a whack at “prosperity teaching” and only tangentially linked to the housing crisis. But whatever sells I guess. The link is up on top. The article never draws a quantifiable link between the scope of the crisis and these Churches, but it does indict these churches specifically for encouraging members to take economic chances.

Even so, to indict Christianity as whole is sloppy journalism, or maybe just a headline grabbing sales technique.

How’s that $75 billion ‘Housing Rescue Plan’ working out for you?

I read this story and I am amazed! FINALLY a press resource that actually followed up on something. Props to Forbes!

This is a stunning report on Obama’s Housing Rescue plan released in March 2009. this is the program created to help up to 9 million homeowners refinance their mortgages. If you recall this was an EMERGENCY; we had to act immediately.

So of the 9 million in need how many have utilized the program?

Senior federal housing officials say that of 51 loans made under the program, 50 were made by Melville, N.Y.-based Lend America, and those 50 loans are being held up pending ongoing federal investigations.

Ok, so out of 9 million people only 51 people qualified and took advantage of the program! Out of the 51 loans, only one loan has actually completed. Way to research the problem and present a viable solution!

When this program was announced I was asking, “how can you possibly spend $75 billion on 9 million people. That comes out to $6.3 million $8,333 per affected homeowner. All that just to modify the loans? No one in our free press asked this question?

The next appalling fact is that 98% of these loans are shrouded in scandal. How does this happen? All you have to do is refinance a loan. How can you possibly screw this up?

The 50 loans being examined by federal authorities are a just a small piece of the $500 million in FHA loans Lend America underwrote last quarter. The company also recently became one of a hundred firms allowed to bundle these 100% taxpayer-guaranteed loans into securities.

Stay tuned on this one.

Hope and change are turning into fear and loathing

I am going to have to admit that when Obama first took office I was cautiously optimistic. Like many others, the implanted notions of hope and change started to shine through the skepticism. After all he seems like a well spoken, educated, pleasant man.

My original skepticism was well founded and a month into this presidency it has become inherently obvious that these people have no idea what they are doing. I don’t mean that they are incompetent in executing a plan, I mean that they literally have no idea what they are doing. Here are just a few reasons hope and change are turning into fear and loathing.

At Obama’s first press conference, the young President won’t take questions about the “economic rescue plan” deferring to Tim Geithner’s announcement the next day. But the next day Tim Geithner’s plan is short on details, to be kind. He essentially delivers no content whatsoever, and even says “we are soliciting public feedback on how to solve this problem.” This supposedly “uniquely qualified” tax cheat has been at the helm of this crisis since the fall of last year and now he wants the public to give him ideas? How can anyone have confidence in this clown. The answer of course is, many don’t and he should be sacked immediately.

Second example… This housing plan that Obama presented.  Read about it here.

$75 billion will go to banks participating in new programs that will restructure the borrowers’ loans, lowering their interest rates and extending the length of their mortgage.

The cost? $75 Billion to the tax payers. Ridiculous, not to mention government interference in valid and binding business contracts between two parties in the private market place.

Third Example… What happened to hope and change in the White House itself, in particular Obama’s promise not to hire lobbyists. Obama lied. Sorry, that may be hard for many of you to hear.  Here is Obama talking about his executive order on ethics. “If you are a lobbyist you will not be able to lobby for the issue that you lobbied”

Below is a list of lobbyists that are now working in the Obama administration. Thanks to Adam Curry for sourcing up this information.

Administration Employee Position Lobbbyist Position
Eric Holder attorney general lobby until 2004 on behalf of clients including Global Crossing, a bankrupt telecommunications firm.
Tom Vilsack secretary of agriculture was registered to lobby as recently as last year on behalf of the National Education Association
William Lynn deputy defense secretary was registered to lobby as recently as last year for defense contractor Raytheon, where he was a top executive.
William Corr deputy health and human services secretary was registered to lobby until last year for the Campaign for Tobacco-Free Kids, a non-profit that pushes to limit tobacco use.
David Hayes deputy interior secretary was registered to lobby until 2006 for clients, including the regional utility San Diego Gas & Electric.
Mark Patterson chief of staff to Treasury Secretary Timothy Geithner was registered to lobby as recently as last year for financial giant Goldman Sachs.
Ron Klain chief of staff to Vice President Joe Biden was registered to lobby until 2005 for clients, including the Coalition for Asbestos Resolution, U.S. Airways, Airborne Express and drug-maker ImClone.
Mona Sutphen deputy White House chief of staff was registered to lobby for clients, including Angliss International in 2003.
Melody Barnes domestic policy council director lobbied in 2003 and 2004 for liberal advocacy groups, including the American Civil Liberties Union, the Leadership Conference on Civil Rights, the American Constitution Society and the Center for Reproductive Rights.
Cecilia Munoz White House director of intergovernmental affairs was a lobbyist as recently as last year for the National Council of La Raza, a Hispanic advocacy group.
Patrick Gaspard White House political affairs director was a lobbyist for the Service Employees International Union.
Michael Strautmanis chief of staff to the president’s assistant for intergovernmental relations lobbied for the American Association of Justice from 2001 until 2005.