Electing The Foxes To Guard The Henhouse

The tab for the failed social experiment called "sub-prime mortgage lending" already is monstrous. If the nightmarish predictions come true and the Democratic Party comes out of the November election with the Presidency and a filibuster-proof Senate, then the American people will have elected the foxes to guard the henhouse.

Paulson: "Thank you, Mr. President, for making billionaires of every banker friend I have at Goldman Sachs.
And thank you for throwing the election to MY Democratic party and especially MY socialist candidate, Obama."

The tab for the failed social experiment called "sub-prime mortgage lending" already is monstrous

Something tells me there are a few more time bombs coming. The goobermint and IRS will start choking from "change" like missing capital gains and magically appearing tax losses. President Obama has no idea how much he'll have to increase taxes just to stay even with 2003 revenue.

They said they wanted "change" and of course markets anticipate.

Unfortunately so far it has been an absolute failure by the campaign to identify and blame those responsible for this crisis, which is why most people think it is Bush's fault.

* 31 years of a failed Democratic Party policy, pressuring banks to issue too many risky loans, is what started this economic crisis
* At the forefront in the early 90s was Obama. He sued Citibank, and he trained and funded ACORN, when they were intimidating banks to issue more of these risky loans
* Clinton oops they are on our side
* It snowballed from there when Obama’s economic advisors, former CEOs of Fannie Mae, implemented this failed policy at Fannie Mae.
* Investment banks on Wall St, huge contributors to Obama's campaign, then lept onto these risky loans, and even when warned about an impending crisis, Democrats still blocked reform in 2003 and 2005 that would have prevented it
* So far the Democratic Party has cost taxpayers over one trillion dollars, and Obama's 'agenda' will make taxpayers pay even more for many many years to come

“Something tells me there are a few more time bombs coming.” I agree - - as a rough estimate, in the neighborhood of $3 trillion, as much as four, if “we” are volunteered to pick up the bulk of risky-loan mortgages.

per Dr. James McHenry, a Maryland delegates to the Constitutional Convention of 1787, whose notes were first published in The American Historical Review, vol. 11, 1906, including this: “A lady asked Dr. [Benjamin] Franklin Well Doctor what have we got a republic or a monarchy. A republic replied the Doctor if you can keep it.”

Some of us still like the idea.

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