Star Journal

Top Menu

  • Contact Us
  • Hodag Star Journal E-Edition
  • Subscribe

Main Menu

  • Local
    • News
    • Business
    • Schools
    • Law & Order
    • Arts & Ent
    • Wedding Planner
    • Viewpoint
    • Sports
      • Sports News
      • High School Sports Scores
  • Covid 19
  • Outdoors
  • Wellness
  • Classifieds
    • View Ads
    • Place Ads
  • Our Legals
    • Legal Ads
    • Statewide
  • Obits
  • Lake View
  • Northwoods NOW
  • Living On The Lake
  • Contact Us
  • Hodag Star Journal E-Edition
  • Subscribe

logo

Star Journal

  • Local
    • News
    • Business
    • Schools
    • Law & Order
    • Arts & Ent
    • Wedding Planner
    • Viewpoint
    • Sports
      • Sports News
      • High School Sports Scores
  • Covid 19
  • Outdoors
  • Wellness
  • Classifieds
    • View Ads
    • Place Ads
  • Our Legals
    • Legal Ads
    • Statewide
  • Obits
  • Lake View
  • Northwoods NOW
  • Living On The Lake
Uncategorized
Home›Uncategorized›Letter: Obama is not helping the Middle Class by Karen Schroeder

Letter: Obama is not helping the Middle Class by Karen Schroeder

By StarJournal
September 21, 2012
461
0
Share:

Editor:

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

Actually, 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 de-regulation, 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

Previous Article

Readers’ recipes

Next Article

By ei kukaan (Gallery: 130628703)

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Uncategorized

    The Wild Side: Looking forward to a goose for Christmas dinner

    December 21, 2012
    By StarJournal
  • LocalUncategorized

    Soldier Report: Deployed Rhinelander soldier reflects on Memorial Day

    May 23, 2014
    By StarJournal
  • Latest NewsOutdoorsUncategorized

    Warmer temps, plenty to do in the Northwoods

    January 16, 2015
    By StarJournal
  • Latest NewsLocalSportsUncategorized

    Ride on!

    January 30, 2015
    By StarJournal
  • Uncategorized

    More flexibility in meeting times for county board

    June 21, 2013
    By StarJournal
  • Uncategorized

    Volunteers needed for Journeys Marathon

    April 19, 2013
    By StarJournal

Leave a reply Cancel reply

You must be logged in to post a comment.

About Us


Star Journal is published by Multi Media Channels LLC, N2919 County Road QQ Waupaca, WI 54981.

Timeline

  • May 13, 2022

    First Hodag Park improvements underway

  • May 13, 2022

    Law enforcement seeks assistance with investigation

  • May 12, 2022

    Vilas County releases fire victims’ names

  • May 11, 2022

    Photo Gallery: RHS track, golf, tennis

  • May 11, 2022

    Hodag Heritage Days to take center stage May 16-21

Find us on Facebook

  • Contact Us
  • Hodag Star Journal E-Edition
  • Subscribe
Copyright © 2020 Multi Media Channels LLC.
All Rights Reserved. No part of this publication or any of its contents may be reproduced, copied, modified or adapted without the prior written consent of Multi Media Channels LLC.
×