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The Big Answer


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Architects of Ruin: How Big Government Liberals Wrecked the Global Economy-and How They Will Do It Again If No One Stops Them

a book by Peter Schweizer

(our site's book review)

Liberals Used the Power of Government to Create a Subprime Mortgage Bubble from Which They've Learned Nothing

The Amazon blurb says that In Architects of Ruin: How Big Government Liberals Wrecked the Global Economy-and How They Will Do It Again If No One Stops Them, New York Times bestselling author and conservative historian Peter Schweizer argues that the economic crisis was caused by liberals who used the power of government to create a subprime mortgage bubble that has ravaged the global economy. Rebutting charges that the financial collapse was caused by conservative deregulatory zeal, Schweizer, the author of Do as I Say (Not as I Do): Profiles in Liberal Hypocrisy, shows that it was actually the result of “do-good capitalism.”

Praise for DO AS I SAY, NOT AS I DO: “A spirited attack on lefty icons.” (New York Times)

“An entertaining exposure . . . In a series of 11 profiles on leftist icons from Noam Chomsky and Al Franken to Hillary Clinton and Ted Kennedy, Schweizer reveals that the most vocal liberals do not practice what they preach.” (Weekly Standard)

Was the financial collapse caused by free-market capitalism and deregulation run amok, as liberals claim?

Not on your life, says Peter Schweizer. In Architects of Ruin: How Big Government Liberals Wrecked the Global Economy-and How They Will Do It Again If No One Stops Them, Schweizer describes how a coalition of left-wing activists, liberal politicians, and “do-good capitalists” on Wall Street leveraged government power to achieve their goal of broadening homeownership among minorities and the poor. The results were not only devastating to the economy, but hurt the very people they were supposedly trying to help.

Urban blight at the Michenzani housing project, Zanzibar town, Tanzania
Urban blight inspires do-gooders into extending homeownership among minorities and the poor

This Tale of Liberal Robin Hood Capitalism Run Wild Has Never Been Told

This tale of liberal “Robin Hood capitalism run wild” has never been told. But more than just a story about the past, Architects of Ruin: How Big Government Liberals Wrecked the Global Economy-and How They Will Do It Again If No One Stops Them is also an urgent warning about the future. The very same people who planted the seeds of the collapse are back in Washington, determined to use the crisis they caused as cover for a massive overhaul of the American economic system. These people have learned nothing from their past mistakes and are busy applying the same methods to other sectors of the economy—health care, the auto industry, real estate (again!), and above all the promotion of “green” technologies—inflating bubbles that are sure to bring about another crisis. Ordinary Americans who foot the bill for the last state-capitalist bubble have reason to be afraid—very afraid—of the inevitable result.

The Robin Hoods—starting with Obozo—did exactly that—rob the 'hood, and cause the Financial Crisis of 2007–2008 as an unintended consequence of their PC-flavored social engineering
The Robin Hoods—starting with Obozo—did exactly that—rob the 'hood, and cause the Financial Crisis of 2007–2008 as an unintended consequence of their PC-flavored social engineering

"But the heart of the story is the role that radical activists and liberal politicians in Washington played in trying to harness the U.S. financial system to advance their socialist agenda. Properly understood, it is a cautionary tale about the perils of trying to use the power of the state to do good, to help people by giving them a leg up, to 'level the playing field.' Ironically, such efforts have usually ended up doing the most harm to the very people they were intended to help. The result in this case was no different. This book will illuminate the hubris and impatience of liberal baby boomers who for the most part have spent their careers in government, high finance, and social activism and as a result know almost nothing about how wealth is actually created in the system that has been entrusted to their care. Unlike earlier generations, who valued the free-market system (despite its flaws) for its ability to generate wealth and maximize liberty, the liberal baby boomers—born to affluence, burdened by guilt—saw the capitalist system as inherently flawed and unfair. More important, they saw it as a system that could, and should, be manipulated for 'progressive' social purposes. Call it 'do-good capitalism': the merging of sixties social values with the rewards of the profit system. . . . [Liberals] increasingly sought to harness the engine of capitalism to their vision of a good society. Thus, to further their activist goals, liberals in and out of Washington pushed the federal government deeper and deeper into engagement with the housing market, artificially driving the costs of lending down and pumping the system full of toxic debt."


Were Such Practices as Red-lining Based Upon the Racial Prejudice of the Mortgage Industry, or Were They Based Upon Sound Business Practices and Good Thinking?

When all the stores opened in depressed areas peopled by minorities ended up constantly getting robbed or victimized by shoplifters, smart businesspeople stopped opening stores there
When all the stores opened in depressed areas peopled by minorities ended up constantly getting robbed or victimized by shoplifters, smart businesspeople stopped opening stores there

Were such practices as red-lining based on the racial prejudice of the mortgage industry, or was they based upon sound business practices and good thinking? When all the stores opened in depressed areas peopled by minorities ended up constantly getting robbed or victimized by shoplifters, smart businesspeople stopped opening stores there and smart lending agencies stopped lending there and smart realtors stopped selling houses there. So squatters invaded some properties and meth labs and illegal drugs distribution invaded others, and taggers put their graffiti everywhere, and even minority families rejected these areas as places to live.

Liberals foolishly labelled such smart businesspeople racist. At that point, smart businesspeople would challenge the liberals with hypocrisy and advised them to put their money where their mouths were. But enough liberals accepted these challenges so that many had predictably bad experiences and were sadder but wiser. You'd have thought that these big-mouthed liberals would have changed their tunes, but that would have been politically incorrect. So they kept it up, labelling the smart businesspeople racist. But now it wasn't a legitimate opinion, but a political duty, since failing to bow down to the liberal narrative would get them shunned, harrassed, oppressed, doxxed, trolled, smeared, and even assaulted. It was the obligatory genuflect and crossing of Catholics only the deference was to the political correctness religion, not organized religion.


Politicians Had to Genuflect to the Far Left to Advance Their Careers, However Insincere

Calling the smart businesspeople racist was the obligatory genuflect and crossing of Catholics only the deference was to the political correctness religion, not organized religion
Calling the smart businesspeople racist was the obligatory genuflect and crossing of Catholics only the deference was to the political correctness religion, not organized religion

Politicians had to genuflect to the far left to advance their careers, however insincere and hypocritical it was. The facts were that in 2010, blacks committed more than 25 times as many acts of interracial violence as whites did. But facts, truth, and reality were irrelevant. Black skin privilege has created an optical illusion in the liberal culture that white on black attacks are commonplace events when in fact there are five times as many black attacks on whites as the reverse. The mainstream media clings to their foolish blacks-as-victims narrative obsessively, smearing anyone who refuses to join in their pathetic hypocrisy as evil racists. See Black Skin Privilege and the American Dream.

In 2010, blacks committed more than 25 times as many acts of interracial violence as whites did, but the mainstream media clings to their foolish blacks-as-victims-of-whites fantasy anyway; truth is irrelevant
In 2010, blacks committed more than 25 times as many acts of interracial violence as whites did, but the mainstream media clings to their foolish blacks-as-victims-of-whites fantasy anyway; truth is irrelevant


Multiculturalism in universities—where once there was learning there now is striking a PC pose; this fellow just caught an evil white committing a 'microaggression'
Multiculturalism in universities—where once there was learning there now is striking a PC pose; this fellow just caught an evil white committing a 'microaggression'

The Liberals Are Wrecking the Country—Especially the Universities but Also Hollywood and the Media—with Their PC nonsense

The liberals are wrecking the country—especially the universities but also Hollywood and the media—with their PC nonsense. In a world where young people are being misled, misinformed, and misguided by political correctness scripture based on entirely erroneous ideas and principles, The Coddling of the American Mind: How Good Intentions and Bad Ideas Are Setting Up a Generation for Failure is a godsend that not only brilliantly diagnoses the problem but also explains its origin as well as its cure. This generation has been set up to fail by bad parenting and poorly designed institutions, and the authors' message is an urgent one if this festering situation is to be reversed. The new protectiveness may be teaching students to think pathologically. See The Coddling of the American Mind: How Good Intentions and Bad Ideas Are Setting Up a Generation for Failure.

Free speech on campus is now a distant memory—now there is only indoctrination into the ugly racism of the political correctness religion
Free speech on campus is now a distant memory—now there is only indoctrination into the ugly racism of the political correctness religion


College students are increasingly demanding protection from words and ideas they don’t like, wrongly believing that they are so fragile that hearing the wrong words or concepts will shatter them
College students are increasingly demanding protection from words and ideas they don’t like, wrongly believing that they are so fragile that hearing the wrong words or concepts will shatter them


The claim often made in academic fields such as critical race theory that ‘all white people are racist’ is an overgeneralisation that can lead to both anger and aggression in students foolish enough to believe it
The claim often made in academic fields such as critical race theory that ‘all white people are racist’ is an overgeneralisation that can lead to both anger and aggression in students foolish enough to believe it

See:


The People That Designed the Studies to Determine the Extent of Racism in the Banking Industry Pre-Cooked the Books and Put Their Thumbs on the Scale

The people that designed the studies to determine the extent of racism in the banking industry pre-cooked the books and put their thumbs on the scale
The people that designed the studies to determine the extent of racism in the banking industry pre-cooked the books and put their thumbs on the scale

The people that designed the studies to determine the extent of racism in the banking industry pre-cooked the books and put their thumbs on the scale, because if the design had been about reality rather than about a thinly veiled attempt at playing "gotcha," they'd have quickly determined that racism was read into the studies by progressive liberal activists rather than being "discovered" by the results of the studies. By leaving out critical factors like credit histories, job histories, net worth, outstanding debt, savings, market value of the home, etc., the studies were mere shams.

It's simple. The study designers, before they even began designing the studies, knew that they were doing the studies to find racism, and they knew that they themselves believed racism in the banking industry was rampant. So they simply designed studies that would generate this biased, preconceived opinion. The fix was in. But this didn't matter to anyone. The only thing that mattered was that these "scientifically designed" studies gave the required result: racism. Once it did, the liberals could commence redesigning education, social studies, U.S. history, diversity studies, multiculturalism studies, race studies, etc. Political correctness was a social corrective measure to be applied across the spectrum to media, academia, history, philosophy, entertainmment, and education. Serious racism was "discovered" to be rife in the USA, so liberal activists were dead set on redesigning a culture. It goes without sayiing that liberals ended up with more power as a result of their redesign—which was pretty much the point anyway, although this was not admitted.

When conservatives tried to speak, they were silenced by liberal extremism
When conservatives tried to speak, they were silenced by liberal extremism

At first conservatives were caught flatfooted. Then they wised up and saw how disastrous PC lies were going to be for not just conservativism but for our country in general. When conservatives in academia wouldn't bend over and grab their ankles, they were harrassed out of their positions. If a media person wouldn't swallow the ugly, racist, liberal narrative, he or she was dumped since the liberals ruled the liberal media. When conservatives tried to speak, they were silenced. No one wanted debate or discussion. They wanted obedience, conformity, and compliance. There were NOT two sides of issues. There was only the liberal view. The conservative view was just evilness from corrupt white males who must be silenced.

Liberals avoided debate or discussion—the conservative view was just evilness from corrupt white males who must be silenced
Liberals avoided debate or discussion—the conservative view was just evilness from corrupt white males who must be silenced


When conservatives tried to speak, the liberals sent their attack dogs on them (a Nazi Germany tactic); these attack dogs appeared in the form of Antifa social 'justice' warriors
When conservatives tried to speak, the liberals sent their attack dogs on them (a Nazi Germany tactic); these attack dogs appeared in the form of Antifa social 'justice' warriors

Liberal Activists Waged a 30-Year War Against Our Lending Institutions

So, due to 1960s liberalism inspiring liberal activists to find racism everywhere, the liberals applied their social engineering to the U.S. economy in which blacks had a lot harder time getting loans than whites, the liberal activists waged a 30-year war against our lending institutions, suing and threatening suits, armed with the results of flawed, self-serving studies that "proved" our lending institutions are oozing with racism. The liberals forced banks all over the country to dramatically loosen mortgage-lending standards. As a result, over 4 trillion dollars was lent to people with spotty or questionable credit. This social engineering came off like a moral crusade. This reduction of lending standards led to an explosion of subprime lending. Shaky loans going to underqualified minority applicants drove up home prices and put a load of unrecoverable debt into the U.S. financial system. Then the mortgage bubble burst and housing prices collapsed, bringing down the economy.

Clinton set up the minorities to fail with his foolish loosening of mortgage-lending standards which led to the mortgage bubble bursting under Obozo and the poor lost their homes and jobs in the crash
Clinton set up the minorities to fail with his foolish loosening of mortgage-lending standards which led to the mortgage bubble bursting under Obozo and the poor lost their homes and jobs in the crash

The radical activists seeking social justice didn't get any justice for most loan applicants, of course. When they couldn't make their payments, they defaulted and lost their homes. Not much justice there. But these activists thought of themselves as Robin Hoods, taking from the rich and giving it to the poor. But when the bubble burst and people lost their homes and jobs in the crash, the poor were left standing there with their dicks in their hands while everyone lost value in their financial statis. The only ones to clean up were the lawyers and the recipients of the bailouts (because they were "too big to fail"). The Robin Hoods did exactly that—rob the 'hood.

Liberals judge things, as always, based on intentions, not results. Such terrible results from their social engineering strategies didn't even cause them to flinch. As usual, they blamed it on the conservatives' deregulations!

The cause of the Financial Crisis of 2007–2008 was a high default rate in the United States subprime home mortgage sector, i.e. the bursting of the 'subprime bubble'
The cause of the Financial Crisis of 2007–2008 was a high default rate in the United States subprime home mortgage sector, i.e. the bursting of the 'subprime bubble'

The Clintons, in the 90s, pressured banks even more than the activists' pressure groups, and this social engineering via extortion was a 4 trillion dollar shakedown against our banks—a Jihad. They made credit a civil right—a damn fool idea that would bite us all in the butt. The Clintons' liberal activism would set in motion a series of events that would shake the financial foundations of the country, and the world, sixteen years later. The cause of the Financial Crisis of 2007–2008 was a high default rate in the United States subprime home mortgage sector, i.e. the bursting of the "subprime bubble". This happened when many housing mortgage debtors failed to make their regular payments, leading to a high rate of foreclosures. All this was predictable because of the hugely foolish risks the liberals had forced down the banks' throats.

"Democratic politicians and radical activists used the federal government to force lending institutions to give mortgages to clearly unqualified poor and minority applicants caused the economic meltdown of 2008. In short, it wasn't 'deregulation of the financial markets' or 'out-of-control capitalism,' as depicted by purveyors of the conventional wisdom, it was too much politically correct regulation mandating that lenders throw out common sense and decades of experience in order to make loans that were almost certain to go unpaid. . . . Attorney General Janet Reno — with Clinton's blessing — paid back their campaign supporters by sending hundreds of Justice Department lawyers to harass banks into making more 'community investments,' based on bogus 'studies' that took race but not credit history into account to 'prove' racism in lending." (Source: "Architects of Ruin" hints of why Obama disses medical malpractice caps, Mark Tapscott, Washington Examiner)

"In succinct, witty and easy-to-understand language, however, Schweizer lays bare how radical activists spent 30 years undermining the banking system for their own benefit, and he exposes how liberal social engineering led to disaster." (Source: Architects of Ruin: How Big Government Liberals Wrecked the Global Economy - and How They Will Do It Again if No One Stops Them, David Forsmark, davidforsmark.com)


Liberals Love to Use Public Funds for Their Do-good-er Projects, but Would They Be So Generous If the Funds Were Theirs?

Liberals eager to do social engineering should keep their paws out of the public till and use their own money
Liberals eager to do social engineering should keep their paws out of the public till and use their own money

Is there a lesson in all this? Yes. Liberals eager to do social engineering should keep their paws out of the public till and use their own money. They love to use public funds for their do-good-er projects, but would they be so generous if the funds came out of their own pockets? The question answers itself. Let us stop liberal generosity from continuing to be OUR generosity in disguise! If foolish risks had consequences, people would quickly learn—like they do with gambling—that dumb risks had dire results. Bad parenting is parenting where there are no consequences to ill-chosen actions because the parents let all the consequences land on them. If a kid that broke a window is responsible to pay for it out of his allowance, he learns responsibility, but if the parent pays, the kid learns nothing, so careless behavior persists. If banks get in trouble from risky loans and the government bails them out with taxpayer money, they learn that risky behavior is rewarded so it persists.

If foolish risks had consequences, people would quickly learn—like they do with gambling—that dumb risks had dire results
If foolish risks had consequences, people would quickly learn—like they do with gambling—that dumb risks had dire results

Peter Schweizer's book Architects of Ruin: How Big Government Liberals Wrecked the Global Economy-and How They Will Do It Again If No One Stops Them warns us about Obozo's plan to use liberal state capitalism's social engineering to remake society "racism free" and to get us out of the financial crisis by doing more of the same things that got us into the 2007-2008 crash in the first place! Schweizer's not a fan of Obozo, nor are we, given all the malevolent events that have had his name on them.

Schweizer's Not a Fan of Obozo, nor Are We, Given All the Malevolent Events That Have Had His Name on Them:

If there was any justice in the USA, here is where Obozo would be, and Bill Clinton too
If there was any justice in the USA, here is where Obozo would be, and Bill Clinton too