The Party That Wrecked America
This is what happens when you’ve had power too long-essentially one Party rule-and voters (with help from the Supreme Court) put an idiot in charge. We are now seeing the greatest financial collapse since the Great Depression.
Bush and Paulson have finally stepped up to the plate and reluctantly admitted what has been obvious for well over a year-we are experiencing an epic housing meltdown brought on by greed, corruption, the absence of regulatory oversight and the collapse of lending standards. These conditions have spread to the rest of the financial sector and resulted in mountains of bad debt.
But here is the kicker. Most people still don’t get it. The press doesn’t get it. Most of our so called leaders don’t get it. Most of us are still going about our business as usual. You know, just like right after 9/11.
This is not the Savings & Loan crisis of the 1980s. Those failures were tiny compared to what we’re facing now. The size of our current crisis is so large that you would have to have lived through the Depression to appreciate the world we are about to enter.
Paulson and Fed Chairman Bernanke are trying to have a plan ready in the next week or two for Congress, to put an end to this crisis. We should all stop and consider this for a moment:
these are the same people who couldn’t get bottled water to downtown New Orleans after Katrina, the same people who gave us Irag, who still can’t find Bin Laden, who couldn’t stop the 9/11 hijackings despite all the warning signs, who created the Patriot Act, who created Homeland Security, who created No Child Left Behind, who repeatedly told the American people that the economy was sound and the mortgage problems were contained, who created a budget deficit of close to 400 billion dollars before you start adding in all these recent bailouts. These are the people who are going to come up with a plan in the next 2 weeks to solve this disaster? Ain’t gonna happen.
The Republicans wrecked America. And like the worst frat house on campus, they destroyed where they live with a wild party and now want the college and their parents to bail them out.
For those of you with some sense, vote Obama/Biden. It’s going to get bad, but not nearly as bad if McCain/ImPaler is elected.
Last point, watch what happens after they remove the 2 week ban on short selling. Hold on.
BoardMatters
Saturday, September 20, 2008
