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Bongino: The Obama Administration "Honest Movie Trailer"
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Posted: Saturday, November 07, 2015 at 3:03 PM EST - Item ID: 490
When I need a good laugh I visit a popular YouTube channel that produces satirical movie trailers. They call them "Honest Trailers" and they get laughs and views because, unlike the overly dramatic movie trailers we are used to seeing, they cut to the chase and use satire to tell the viewer what the movie is really about. I don't fault Hollywood because they are in the business of marketing their film products. I do fault the president for doing the same thing. Obviously, President Obama is not in the film production business, but he is in the business of marketing legislation to us using some of the same bait and switch tactics. I wonder, if we had an "Honest Trailer" YouTube channel for President Obama's major legislative initiatives, what the trailers would look like and if anyone would go see the movie. I have substantive ideological differences with President Obama but I am in awe of his marketing abilities. The movie he gave us has been awful to watch yet he has fooled many Americans into believing they are watching an Academy Award winner. It's really hard to take away the liberty of freedom-loving Americans and the American people will vigorously defend their liberty when they perceive it to be under attack. But the Obama administration has produced a series of movie trailers so successful, that many Americans have surrendered their liberty with a smile, while happily watching the Obama movie. Here's the Obama game plan for putting together a movie trailer to sell you a destructive policy. First, find a problem, largely caused by the government and then show painful stockpile images of Americans suffering because of it. Second, put together a piece of legislation or a regulation that introduces even more government to solve the problem the government caused and show images of the President working tireless on it and looking concerned. Finally, find a group of people who will benefit from the policy or regulation. Preferably they will be of the Jonathan Gruber mold, who will agree to put their seal of approval on the policy's false promises in the same manner that bad movies use that one outlier positive review on every piece of promotional movie material. An example of this wash, rinse and repeat strategy of producing great marketing and terrible policy? Look no further than the federal government's recurrent interventions in the housing and credit markets and the Obama administration's new plan to lower the down payments required for a home mortgage, as if the housing crisis and subsequent recession never happened. Here's their marketing plan: Step one – let's ignore government's historical role in creating the recent housing and credit market chaos and create an alternative narrative that is untrue, but is easy enough for our media friends to follow along. Here's one that works, let's say "deregulation did it." Let's ignore the long and undistinguished history of government regulation through the terrible inflationary pressures created by the Federal Reserve Act, the doubling down on monetary policy created by the Humphrey-Hawkins Full Employment Act, the failed attempts at interest rate manipulation through the Financial Institutions Regulatory and Interest Rate Control Act of 1978, the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and the economically catastrophic National Housing Act of 1934, the added amendments in 1938 which created Fannie Mae, along with the creation of Federal Home Loan Mortgage Corporation and Freddie Mac in 1970, and show some pictures of people losing their homes and blame it on, wait for itâ€"Deregulation" (Sadly, I have not even included the total picture of government intervention in the destruction of our credit and housing markets, just the low-lights, because we are limited on space.) Step two – let's use the anemic economic recovery as an opportunity to pretend that the recession we are "recovering from" never happened and release a new policy by the Federal Housing Finance Agency which allows Fannie and Freddie to buy mortgages obtained with a down payment of as little as 3% (a policy nearly identical to the one that led to the housing bubble we are still escaping from.) Let's be sure to show some B-roll footage of the president and Mel Watt, the Director of the Federal Housing Finance Agency, and let's be doubly sure the footage shows them looking very concerned. Step three – let's be sure to use our media friends to highlight positive comments about the new regulation. Here's a recent example from an article in the October 20 Chicago Tribune if they need an example. "It's a very big deal," said Dan Gjeldum, a senior vice president at mortgage lender Guaranteed Rate. "It will dramatically reduce the expense for a first-time home buyer. The easier it is to do business with the agency, the easier it's going to be for consumers to work with mortgage companies." Voila Now we have our Obama administration movie trailer for the upcoming horror film I will tentatively title: The Calamityville Horror Story: Obama, Housing Policy, & The Coming Disaster.
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