TFOT radio show 092708

EVENTS:
Fireproof - the movie at local theaters. A movie for all couples to see.

Christian Alliance Banquet - Oct 4th - Keynote, David Limbaugh - Call 515-225-1515

Forty Days for Life

Girlfriends Unlimited from Fellowship Community Church welcomes Rhonda Rhea, author of High Heels in High Places, Oct 17th and Oct 18. 515-981-0699.

Podcast of the interview

GUEST: Congressman Bob McEwen represented Ohio in the House of Representatives for six terms.

While Democrats blame Republicans and President Bush, Congressman McEwen shares a bit of history and helps Truth For Our Time listeners understand how we got into this financial quagmire in the first place.

Congressman McEwen has kindly allowed me to reprint the information below:
--------------------------------------------------------------------------------------
Federal Government & Obama's Advisors Role Mortgage Meltdown
Corporate Socialism
Bob McEwen, former Congressman (R-Ohio)

While the report from Washington tries to paint this WallStreet melt down as somehow damaging McCain............the fountain of this debacle is Fannie Mae. Fannie became, under Clinton, a money tree for Democrat operatives. Fannie CEOs Jim Johnson & Franklin Raines (Clinton's director of OMB) began buying paper (mortgages) that were made by their friends (ex. Countrywide). These companies were giving loans in excess to the value of the property. These loans often went to illegal aliens and inner city folk with no visible means of support.

All across northern Virginia these once beautiful properties are being abandoned and are now in deplorable condition. I have looked at dozens with my 23 year old son who is seeking to buy his first home. They are everywhere. Stickers on the door asking the owner to contact one government agency or another.

Fannie Mae gave these companies money to pass out.....often based upon race.........and not capacity to repay.

Jim Johnson (Mondale's campaign manager) became CEO of Fannie Mae and took tens of millions for himself. He recently headed Obama's Vice Presidential search team.

Franklin Raines (Clinton's Budget Director) took over $100 million for himself and, because of his reporting billions on Fannies books, he knew were bogus........has been ordered to return $40 million of it. He is Obama's economic advisor.

Janet Reno and her sidekick Jamie Gorelick (who denied the FBI access to CIA files on the 9/11 bombers that would have stopped them before they acted) have taken over $75 million for themselves from Fannie.

-------------------------------End of reprinted explanation-----------

McEwen explains we may have a financial crisis, but it doesn't have to be an economic crisis. The best solution is to allow the free market to correct itself as we have already seen by Warren Buffet's lead. Voters need to understand the high cost ($700,000,000,000.) of a government 'bail out' with no benefit verses 'working it out' through long term investing and payoff in the free market. One must ask, if government caused the problem why would we trust government to fix it?

Sometimes ideas that seem good today cause great problems tomorrow and giving loans to individuals who had no means to pay and were not ready for the responsibility of owning a home is just one example. During this election cycle you are already hearing about 'social justice', but it is a misrepresentation of true justice with programs and socialistic philosophies that will cause greater problems later.

Full interview podcast

Thinking it through:
Democrats always seem to 'feel our pain' during campaign seasons. But honestly, I don't want a president who can 'feel my pain' - I want a president who will quit 'causing my pain'. Obama continues to try and tie McCain with Bush in blame over this financial fiasco which seems risky considering at least one those listed by McEwen as part of the problem is actively involved in Obama's campaign. So much for change.

Finding Truth in today's headlines,
Tamara

Truth For Our Time heard on Praise 940AM, Des Moines, IA at 8 central on Saturday mornings.