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Let me see if I have this straight. Two democrats, Chris Dodd and Barney Frank, were primarily responsible for the rules that forced lenders to make home loans to people that they knew couldn’t afford them, because it was their “right”, leading to the inevitable “housing bubble” collapse, leading to the current recession. Somehow, these two escaped any accountability for the disaster they caused, while the main stream media eagerly blamed the evil Wall Street, and oh yes, George Bush.
Now, these same two men are being heralded as saviors by the Obama administration for new legislation which they say reigns in the out of control evil Wall Street that will prevent future similar recessions. Do I have it right?
Let’s be clear on one thing; recessions/depressions are not some naturally occurring phenomenon caused by sun spots or lunar eclipses or some other such fluke of nature, no, they’re caused by the actions or inactions of people, and Congress, which is charged by the Constitution with the oversight of our economy. Do you think we’re getting what we pay for from Congress?
Ah yes, change we can believe in.
Ken Selking