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Obot blamed for financial meltdown

JamesAJohnsonIt takes a little work to justify this bit of sensationalism, but it sure makes for a sexy headline!

Jerome Corsi in a recent WorldNetDaily article has identified former Fannie Mae chairman James A. Johnson (pictured right) as the man behind the screen name JimBot, someone who supposedly said in a chat room that he was Obot #1. I think the evidence presented by Corsi is ridiculously weak, but in the world of birthers and Obots it suffices for news. According to WND, JimBot leads a “100-strong attack team” of Obots in an attempt to discredit birthers (something that was successfully completed in June of 2008).

The second part of the story is not so tenuous. In the book Reckless Endangerment by Gretchen Morgenson, a New York Times columnist, and Joshua Rosner, a housing finance expert, Johnson is portrayed as the evil genius behind the Clinton Administrations liberal agenda of increasing home ownership among minorities and the poor. This effort, the book claims, lead to unqualified loans being made and the ensuing financial crisis. Does it help that Johnson was on the board of Goldman Sachs? George Will reviews the book for the Washington Post.

The substance of the recent financial crisis is beyond the scope of this blog, but suffice it to say that there are enough accusations and liberal bashing in the book to feed the upcoming birther summit with 12 baskets full left over. Question: does Johnson look more than just a little bit reptoid to you?

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21 Responses to Obot blamed for financial meltdown

  1. avatar
    Rickey July 22, 2011 at 11:56 am #

    Huffington Post published an excerpt from the book two months ago.

    http://www.huffingtonpost.com/2011/05/26/gretchen-morgenson-reckless-endangerment_n_867158.html

  2. avatar
    richCares July 22, 2011 at 12:24 pm #

    Corsi has been an idiot, this story confirms he is a COMPLETE Idiot!

  3. avatar
    Lucas_d_Smith@live.com July 22, 2011 at 2:02 pm #

    Johnson does look a bit reptilian. Too bad you don’t have video of him shift-changing.

  4. avatar
    J.Potter July 22, 2011 at 4:02 pm #

    Boxcar Willie is a reptile? Man, it just goes deeper and deeper. Has anyone caught the swill “Rick A. Hyatt” is pushing? That Markus Wolfe, former head of Stasi, is Obama’s father? Of course, Hyatt is also a child of Wolfe, they were bred to be Manchurian candidates, etc. And double of course, he’s pushing an e-book about it. A “factual novel” LOL.

    Lord knows what else is out there ….

  5. avatar
    Lucas_d_Smith@live.com July 22, 2011 at 4:18 pm #

    J.Potter:
    Boxcar Willie is a reptile? Man, it just goes deeper and deeper. Has anyone caught the swill “Rick A. Hyatt” is pushing? That Markus Wolfe, former head of Stasi, is Obama’s father? Of course, Hyatt is also a child of Wolfe, they were bred to be Manchurian candidates, etc. And double of course, he’s pushing an e-book about it. A “factual novel” LOL.

    Lord knows what else is out there ….

    Dear Potter,

    I know who Obama’s father is.

    Barack Obama Senior is Barack Obama Junior’s father. In case you haven’t heard, I was able to procure a certified copy of Barack Obama II’s original hospital birth record in Kenya. The 1961 Coast Province General Hospital certificate of birth lists Obama (senior) as Obama’s (junior) father.

    I’ve since been to the US Courts, US Congress and a plethora of media news outlets.

    I even have a blog at:

    http://www.WasObamaBornInKenya.com/blog

    I don’t have a ‘Paypal’ button so don’t worry about giving me money.

    Good day.

  6. avatar
    US Citizen July 22, 2011 at 4:25 pm #

    richCares: Corsi has been an idiot, this story confirms he is a COMPLETE Idiot!

    Oh no. He and all the birthers have much more idiot left in them.
    This is simply level 2, also known as a compound idiot.
    Besides, anyone in the real obot army knows Jim is Venutian.
    Look him up in the Obot directory if you don’t believe me.
    Jim’s a good guy. He was responsible for the destruction of the housing market, tier 1 of Obama’s plan to ruin the US.

  7. avatar
    Arthur July 22, 2011 at 4:46 pm #

    Not having read “Reckless Endangerment,” and going only on reviews in the Washington Post and Huffington Post, I nevertheless take issue with the idea that a liberal agenda to offer sub-prime home loans to minorities and the poor was the principle cause of the home mortgage crisis.

    As Stan Liebowitz reported two years ago in the Wall Street Journal, while it has become common to blame the skyrocketing rate of foreclosures “on subprime mortgage lenders” and impoverished homeowners who were “unable to make the higher monthly payments when their mortgage rates reset upwards,” the Mortgage Bankers Association reported in that in 2006, “51% of all foreclosed homes had prime loans, not subprime.” Likewise, “the foreclosure rate for prime loans grew by 488% compared to a growth rate of 200% for subprime foreclosures.”

    Rather than blame the policies of Johnson, Liebowitz illustrates that the primary cause of foreclosures resulted from speculators who purchased real estate as an investment, not as a primary residence. This was specially true in areas like Southern California, Las Vegas, and Florida. When market prices declined, mortgage holders were faced with the unpleasant reality of rising negative equity in their properties. These speculators had put very little money down when they purchased property, hoping that a rising market would allow them to sell their holdings in a few months and make a tidy profit. When the real estate bubble burst, they found themselves saddled with property they didn’t need, couldn’t afford, and couldn’t sell. In the most overheated markets, it was not uncommon for homes to suddenly be valued at hundreds of thousands of dollars less than what purchases paid for them. Many chose to walk away from their mistake and let the banks deal with the problem. In addition, as unemployment increased, many homeowners, from all economic levels, found it impossible to met their mortgage payments.

    In other words, while relaxed lending standards for poor and minority homeowners contributed to the foreclosure crisis, the speculative buying and rising unemployment played an equal if not more important role.

  8. avatar
    Dr Kenneth Noisewater (Bob Ross) July 22, 2011 at 4:54 pm #

    Lucas_d_Smith@live.com: In case you haven’t heard, I was able to procure a certified copy of Barack Obama II’s original hospital birth record in Kenya. The 1961 Coast Province General Hospital certificate of birth lists Obama (senior) as Obama’s (junior) father.

    Don’t you mean you were able to forge a copy?

  9. avatar
    Obsolete July 22, 2011 at 7:21 pm #

    The right wing loves to blame the people with the least amount of power and influence for causing most of the country’s problems.
    It is why right wing humor is seldom funny. Only fellow sociopaths view kicking the downtrodden, crippled, and powerless as funny.

  10. avatar
    Obsolete July 22, 2011 at 7:24 pm #

    Lucas:
    “Barack Obama Senior is Barack Obama Junior’s father. In case you haven’t heard, I was able to procure a certified copy of Barack Obama II’s original hospital birth record in Kenya. The 1961 Coast Province General Hospital certificate of birth lists Obama (senior) as Obama’s (junior) father.”

    Hawaii says you are full of $hit. I believe them and their records before I believe a convicted forger grifting for money.

  11. avatar
    gorefan July 22, 2011 at 8:00 pm #

    Lucas_d_Smith@live.com: I was able to procure a certified copy of Barack Obama II’s original hospital birth record in Kenya

    Actually, it is not “certified” since that may not be Dr. Maganga’s signature. Verify his signature would be a good start.

  12. avatar
    G July 22, 2011 at 10:09 pm #

    Good points. Thanks for sharing!

    Arthur: Not having read “Reckless Endangerment,” and going only on reviews in the Washington Post and Huffington Post, I nevertheless take issue with the idea that a liberal agenda to offer sub-prime home loans to minorities and the poor was the principle cause of the home mortgage crisis. As Stan Liebowitz reported two years ago in the Wall Street Journal, while it has become common to blame the skyrocketing rate of foreclosures “on subprime mortgage lenders” and impoverished homeowners who were “unable to make the higher monthly payments when their mortgage rates reset upwards,” the Mortgage Bankers Association reported in that in 2006, “51% of all foreclosed homes had prime loans, not subprime.” Likewise, “the foreclosure rate for prime loans grew by 488% compared to a growth rate of 200% for subprime foreclosures.”Rather than blame the policies of Johnson, Liebowitz illustrates that the primary cause of foreclosures resulted from speculators who purchased real estate as an investment, not as a primary residence. This was specially true in areas like Southern California, Las Vegas, and Florida. When market prices declined, mortgage holders were faced with the unpleasant reality of rising negative equity in their properties. These speculators had put very little money down when they purchased property, hoping that a rising market would allow them to sell their holdings in a few months and make a tidy profit. When the real estate bubble burst, they found themselves saddled with property they didn’t need, couldn’t afford, and couldn’t sell. In the most overheated markets, it was not uncommon for homes to suddenly be valued at hundreds of thousands of dollars less than what purchases paid for them. Many chose to walk away from their mistake and let the banks deal with the problem. In addition, as unemployment increased, many homeowners, from all economic levels, found it impossible to met their mortgage payments.In other words, while relaxed lending standards for poor and minority homeowners contributed to the foreclosure crisis, the speculative buying and rising unemployment played an equal if not more important role.

  13. avatar
    G July 22, 2011 at 10:09 pm #

    LMAO!

    Lucas_d_Smith@live.com: Johnson does look a bit reptilian. Too bad you don’t have video of him shift-changing.

  14. avatar
    Critical Thinker July 23, 2011 at 3:31 am #

    richCares:
    Corsi has been an idiot, this story confirms he is a COMPLETE Idiot!

    But he’s a good propagandist. While the premise of the article is ridiculous and, as even Corsi admits, wholly unproven, it does two important things. First, it asserts that Obama takes the birther movement seriously. If he didn’t, he wouldn’t have hired such a high-profile and powerful person to “manage” birthers and given this person direct access to the White House. Second, it provides “proof” that people who mock birthers are part of an organized effort to discredit birthers and birtherism and that said mockers are being paid for their mocking activities. Both of these assertions are ludicrous, but for gullible birthers, they are evidence that Obama is desperate to keep them silent,

  15. avatar
    Bran Mak Morn July 23, 2011 at 6:37 am #

    Yes the point of WND articles, for the most part, appear in the headlines. Many of the birthers just read the headlines and believe, well, if WND says it this way, must be true, even if the article shows the headline itself is questionable at best. And yes, the desire to silence objections includes this poisoning of the well by WND, where the true believers now believe they have been validated in saying those of us who logically look at the claims of WND and dismiss them are being paid to be there to spread misinformation. However, WND needs to be careful; more and more birthers are coming to the conclusion they must have an armed revolt. WND will be held culpable if they don’t do anything to stop such a movement and someone actually engages in violence as a result.

  16. avatar
    ellen July 25, 2011 at 4:17 pm #

    Lucas D. Smith, who claims to have obtained a copy of Obama’s birth certificate in Kenya, never even proved that he (Lucas D. Smith) had ever been to Kenya.

  17. avatar
    Judge Mental August 1, 2011 at 2:32 pm #

    Has Foggy now well and truly punked Corsi? If yes, how long will he wait before administering the coup de grace?

    http://www.wnd.com/index.php?fa=PAGE.view&pageId=327369

  18. avatar
    G August 1, 2011 at 3:07 pm #

    Yeah, dollars to donuts it sounds like WND took Foggy’s bait and have been punked because they are just too stupid in their blind zeal of self-confirmation bias thinking to grasp the concept of extreme sarcasm. From the read of all the FB posters, it seems they are just as gullible. WND can’t even see what a parody of itself it has become, that’s the funniest part! Looks like Poe’s Law is in effect here and it is no longer possible to distinguish WND from The Onion…

    Judge Mental: Has Foggy now well and truly punked Corsi? If yes, how long will he wait before administering the coup de grace?http://www.wnd.com/index.php?fa=PAGE.view&pageId=327369

  19. avatar
    Dave August 1, 2011 at 3:11 pm #

    Honestly, I don’t think this is a case of Corsi and WND being stupid enough to fall for the punking. I think this is a case of Corsi and WND thinking their readership is stupid enough to fall for it.

    And how will Foggy administer any coup de grace? Corsi and Farah know their readers just won’t believe Foggy if he points out that this was a parody.

  20. avatar
    J. Edward Tremlett August 1, 2011 at 4:44 pm #

    Lucas_d_Smith@live.com:
    Johnson does look a bit reptilian.Too bad you don’t have video of him shift-changing.

    I DO have a video of you smoking what you thought was crack, but was actually tracker nano-bots suspended in flour. That’s how I now have video of everything you do.

    Kneel.

  21. avatar
    Ballantine August 1, 2011 at 4:51 pm #

    Dave: Honestly, I don’t think this is a case of Corsi and WND being stupid enough to fall for the punking. I think this is a case of Corsi and WND thinking their readership is stupid enough to fall for it.And how will Foggy administer any coup de grace? Corsi and Farah know their readers just won’t believe Foggy if he points out that this was a parody.

    I agree that they don’t for a second believe this absurd theory. It is obviosuly jsut about making money off the birther idiots.