This morning, FlashReport readers in and around the Capitol have a unique opportunity — to enjoy a free lunch while the New America Foundation treats you to a 90-minute left-wing indoctrination 
about America’s "deteriorating social contract" and how no where is this more apparent than in the current subprime mortgage crisis.
First and foremost, before you put on your AOL Instant Messenger away message to head over to the first floor of the Capitol for this event, if you are looking to get an autograph from GOP Assemblyman Ted Gaines (who was billed as a host of this event) don’t bother. He’s cancelled his attendance, and pulled his name off of the event. Why? Because he has learned that the New America Foundation has a pretty blatant policy agenda, which is to expand the size and scope of government, with a goal of redistributing wealth from one American to another, and restricting the freedom of our people. That’s fine. This is America, and everyone has a right to advocate their positions. But at least I and others can expose the left-wing policy agenda of this group.
The "professor" for today’s "lecture" on why America should ban subprime lending is Paul Leonard. Leonard is the head of a group called the Center for Responsible Lending, which is really a front group for radicals who want to limit the right in American to take assume risk for reward.
If people like Leonard have their way, there would be no subprime lending — which is to say that unless you have lots of money to put down a large down payment, and perfect credit, you’d have no chance to get a home loan. Despite the fact that a great many people who have taken a risk on loans are finding it tough to make their payments, the vast majority of those who took this risk are, in fact, still making their loan payments are enjoying the dream of home ownership. If you eliminate the ability to loan money to people who have less-than-ideal credit, then you also take away the opportunity for these people to achieve their dream of home ownership.
In case you need an example of how extreme Leonard is….
A week ago Sunday, Dan Weintraub laid out an excellent case against a federal bail out of the subprime market in his column, Proposal To Write-Down Loans Could Wreak Havoc. Weintraub walks readers point-by-point on how a proposal by the head of the FDIC to freeze interest rates for those in subprime loans hurts everyone involved, and those not involved with those loans.
In Leonard’s piece of yesterday, a rebuttal to Weintraub, he actually argues that it is lenders who are responsible for making sure borrowers can afford loans. This, of course, is completely backwards. The grown adults who are making their own decisions about whether to take on risk for potential reward have to decide if they can afford a loan, not the lender. Leonard decries higher fees charged by subprime lenders. Perhaps this is because these lenders are also taking a risk? After all, if someone defaults on their loan, who is left holding the proverbial bag? Yes it is the lender.
The kind of "Nanny State" restrictions that Leonard and people like him want to invoke to stop the freedom of those who want to take a risk to get into a home is nothing new. This represents a left-wing radical agenda — where the role of government becomes to "protect" adults from themselves by restricting their freedom and individual liberty. I’m sure that Leonard also believes we should ban the issuance of drivers insurance to bad drivers, because it is unfair that those with bad driving records have to pay more for their coverage. Like he prefers less homeownership, he undoubtedly would prefer less car ownership.
Let me share with you a quote from Helen Keller, which I think is appropriate here:
On a closing note to the New America Foundation: When you put on balanced events , that present all sides of a policy issue, I would be pleased to attend and I’m sure Ted Gaines and others would come along. But when you attempt to put on an event where you bring in only extremists like Paul Leonard, or perhaps some of the other left-wingers who are associated with your organization, why not just have your meetings in Berkeley, where most already agree with your radical agenda?
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