RUSH: Ladies and gentlemen, I just had a memory flash. I just remembered -- and I spent some time here checking it out. Obama himself, Obama his own self has been saying for years that he knows people who were tricked into buying a mortgage. He had a speech July 29th of 2008 before the National Association of Latino Elected and Appointed Officials Conference. Really? (interruption) No, I'm not making it up, Snerdley. The National Association of Latino Elected and Appointed Officials on July 29th, 2008. This is in the midst of the presidential campaign, and Obama's out there saying, "For eight long years, Washington has not been working for ordinary Americans and for hardworking Latino-Americans.
"Few have been hit harder than Latino-Americans and African-Americans. You know what I am talking about. You know the people like the couple I met in Las Vegas who were tricked into buying a house they couldn’t afford and are at risk of facing foreclosure..." And in one of his stump speeches before the AFL-CIO, April 2, 2008, he said, "You know, the people like the couple I met in Las Vegas who were tricked into buying a house they couldn't afford. They are at risk of facing foreclosure." He says, "Think about it: The top mortgage lenders spent $185 million lobbying Congress. We wonder why Washington looked the other way when they were tricking families into buying homes they couldn't afford."
This is outrageous!
He actually said that: "We wonder why Washington looked the other way when they were tricking families into buying homes they couldn't afford." This is a total rewrite of history. This is a total fabricated, made-up, 150% lie. "Washington looked the other way when they were tricking families," and in another stump speech he talks about this couple in Las Vegas that he knew. So apparently Obama knows the woman that were tricked into getting a mortgage they couldn't afford. Two people! He never named 'em. I'm sure he could produce 'em, and I'm sure they'd have the biggest sob story you've ever heard. They probably lost all their pets. The movers came and took away every family heirloom. I can imagine this sob story. But it's a total lie. Washington didn't "look the other way when they were tricking families into buying..." Washington was making the banks loan the money -- and Obama knows it, ladies and gentlemen.
RUSH: Here is Ted in East Greenwich in Rhode Island. Great to have you on the EIB Network, Ted.
CALLER: Hey, good afternoon, Rush.
RUSH: Thank you.
CALLER: Happy to be here. I'm one of these people that they tried to give a bad mortgage to.
RUSH: You got tricked?
CALLER: Well, no. What happened is I went to see a house, and I was in Southern California. I told the builder, "I don't think I can afford it." He had me see his mortgage lender. When I got there, they worked up the numbers. They told me to fill in the personal data and don't worry about the value section. They'll fill it in for me. I went home, I looked at what the payments would be, I realized it wasn't possible. I asked my kids, "Hey, do you want us to buy this house? No money for food. " My kids voted for the food.
RUSH: I don't blame them. Kids are smart that way. But did I hear you right, you don't consider this an example of you being tricked into this?
CALLER: Well, you know, they tried to give me a loan I couldn't afford but the thing is individual responsibility.
RUSH: But you were in the market for a house in the first place?
CALLER: I was in the market for a house.
CALLER: I went and saw a beautiful house, not sure I could afford it.
RUSH: Okay, look...
CALLER: The builder hooked me up with a mortgage lender.
RUSH: See, now, I'm probably gonna incur some wrath. I appreciate your story. I'm probably gonna incur the wrath of some people here. I'm not saying that people that want to sell you something don't try to sell you on the idea. You go buy a car, they're always gonna try to get you to buy one more expensive than you go in for. But you know that. That's not trickery. That's the sales technique. At some point, people have to be responsible here, like this guy's kids ended up being responsible. They want to eat. What good is a nice house if they can't eat? I know you go in... One of the best sales pitches I ever heard was shortly after I got to Sacramento. The car I arrived in was falling apart. It was a Pontiac something or other. I don't remember what car. It was a four-door, family sedan. It wasn't a LeMans or a GTO. It was falling apart.
So I got out there and the radio station, go see X, and they had a dealer who spent a lot of money advertising on the radio station. "This is the greatest guy! You've never more cars. It's the most solid guy. Rush, you have never met a guy like this," and it was a salesman at the radio station telling me this. I didn't know enough to know that this guy was getting a bird dog: If I go buy a car from this guy on his recommendation, he's gonna get kickback. I'm a naive dunce. I didn't know that. I thought they were being honest. "This guy, he's the greatest guy! You go out there, whatever you want, he's gonna make you a deal. You tell him I said so."
So I go out there, and they tried to push me into a car. I forget what it was, but there was a car on the lot that I really wanted. It was cheaper than what they were trying to sell me, and they said, "Nah, you don't want that! You're not gonna look good in that car. Go ahead and sit in this. Let me take a picture."
I said, "You gotta be kidding?"
"No, I want to show you. You're gonna look better in this car."
It went round and round and round, and finally the guy said, "Look, you know what the problem with the car you want is? It doesn't leave you any room for growth. You drive that car and you're telling people that's all you're ever gonna have. You need to figure that you're gonna get a raise in a year or two and buy a car you can afford then."
And I said, "You think that's true? You think I'm gonna get a raise in a year or two?"
"Oh, yeah, everybody, you're gonna get a raise. Always buy more than you can afford because it will be an inspiration and a motivator to work hard."
That was his sales pitch. Now, was that trickery? I needed a car, I was out there to buy a car, they tried all kinds of things to tell me that I shouldn't buy the one I wanted 'cause it wasn't as expensive, but I don't consider that trickery. Now, Obama might. I guess if you were a socialist utopian the automobile buying experience would be this. You want a car. You go to the dealer and say, "I want that one," and they give it to you. I bought the one I wanted. I hung tough. I liked it better. I bought the one I wanted. The guy eventually gave up and acted like, "Okay, it's your life, if that's what you want to say about yourself."
Well, I did get a raise in a year or two, but point is I did not buy more than I could afford. That's what they were trying to get me to do on the basis that some day I would be able to afford it. They tried all the social peer pressure angle. My point is, that, to me, is not trickery. Trickery would be, I don't need a car, somebody calls me or gets a hold of me or I find out somehow that I can go get a car that I can't afford and everything's gonna be okay because that's what happened with the subprime mortgage. People that had no business buying homes were told they could get a house and not have to worry about paying for it. (interruption) What did you say to me? No, it's not that I'm smart. It's that I knew what I wanted, and I didn't want what they were trying to move me up to.
I wasn't out-toughing these guys. I just remained dedicated to my desire. Anyway, I just don't chalk that up as trickery. That's just these guys trying to do their job. (interruption) Raised whose salary? Oh, the caller, right, the lender, on the form they were pretending that he had more money than he did, but that's not what Obama wants people to think he's describing what he talks trickery. I know what Obama wants people to think, that people, innocent bystanders got roped into buying something they didn't want, didn't need, and couldn't afford. That did not happen, is my point.
RUSH: Look, folks, I'm not naive here. I know what's going on with this Obama business. We've even had one of these experts in this whole business call us and tell us how people were being advised to zero out people's credit histories and qualify them automatically, all the shenanigans that were being played. The guy that called just a moment ago gave us the example of how bankers would fake credit reports. We had a call about that not long ago, make it seem like they had good credit, fake their salaries. Everybody forgets the fear of government in this if you don't make these loans. The whole point of this is that the government was ordering these banks to get this done, to make these loans. Not interview people. Not make it possible. But to get it done.
They were gonna have to jimmy some things here to make it look good on paper because any time there's a paper trail it has to match up. But I'm telling you it is the full force of government with the accompanying fear that makes this happen. Now, I know what Obama's doing when he goes out like he did today, or any other day and starts talking about people getting tricked. I know exactly what he's doing. You have to be very careful when you describe it. There's a racial component to this. We all know it's there. We know what the code words are. I get so sick and tired, the story last week, Juan Williams puts out this asinine story, food stamp president is racial code word, which is absurd.
Okay, how's it feel? Obama starts talking about bankers, Wall Street bankers, what does that mean to certain elements of our population? You know as well as I do what that means. Obama's audience is the poor, disadvantaged minorities, and these big evil Wall Street bankers, everybody knows who they are, and Obama's doing what? Getting even with them. I'm trying to discuss this without the racial component as a means of simply informing people what was going on regardless, as he continues to lie about this.
RUSH: You know what getting tricked is? Getting tricked is being told that Obamacare would push down the deficit and health care costs. That's getting tricked. Getting tricked is liberalism costing us $16 trillion since it got hold of the government. You talk about tricks, Obama's full of 'em, and they're all on us.
RUSH: I'll tell you who was largely behind this whole subprime mortgage scandal and d Obama's announcement today forgiving even more loans, this foreclosure assistance program, $25 billion shakedown of the banks. It's ACORN! ACORN is behind this, ACORN's behind the foreclosure deal. It's a payoff for them. Obama's community organizer buddies. ACORN was tricking more people into mortgages than any bank. They were getting a cut on each one of these! "ACORN, calling themselves The Bottom Line..." They had to change their name and a bunch of different places. After they said, "We're going out of business, too much controversy," they just reformed under different names. One of them is The bottom Line. It's one of the groups that wanted the settlement to be for $300 billion instead of $25 billion, and from ACORN's website:
"[W]e’ve helped over 50,000 families to achieve their dreams of homeownership since 1986. ... ACORN Housing Counselors make the homebuying process more accessible to first-time buyers. Instead of having to approach bankers or contend with brokers, first-time homebuyers can meet our counselors in the local ACORN Housing office to pre-qualify for a mortgage. If you have credit problems, you’ll learn ways to resolve them." Yeah. We'll just pretend that you don't! ACORN is as involved in this as any evil banker. In addition to that, ACORN is a bunch of thugs who were acting as enforcers for Obama where all these banks are concerned. This whole thing is just hideous, and the way Obama and the Democrats continue to lie about this to this day.