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….
**There is more – click the link**
November 20th, 2007 at 12:00 am
I won’t waste time telling you point by point why your post is bull because you probably already know — your posts are simple partisan polemics written based on insipid talking points and propaganda. I will however raise a couple of issues. 1) Borrowers responsible for determining whether they can afford their mortgages? Clearly, a borrower has some responsibility here. But what about underwriting, you nimwit? Is this not an essential responsibility that lenders should ensure borrowers have the ability to repay? Risk-based pricing is inherently based on such underwriting, and no loan should be made without such a sound determination being made. It is the mandate of the federal financial regulators to ensure soundness in our banks, thrifts and credit unions. Without sound underwriting, these institutions are not secure. This doesn’t simply harm a capricious borrower who takes on more debt than he can repay. It harms the entire economic system as should be evident from the current crisis. This isn’t an “extreme” idea — it’s propounded by Greenspan and Bernanke and a number of other more “crusty” economists you might worship. But I suppose you would oppose any regulation whatsoever, and let economic darwinism leave the nation in ruin. How idiotic.