Look, you obviously wish to keep the hard partisan world view, and that’s fine if it works for you. However, in spite of what the talk radio PINHEADS, and yes they are absolutely PINHEADS are regurgitating on this mess, this mess is beyond on party, and attempting to convince middle america that the multi trillion dollar credit crunch is simply because of the CRA, Fauxbama’s 100k in campaign donations from Freddie and Fannie, etc etc etc, may make for entertaining radio, but it just ain’t factually true.
The right “markets are gods” partisans trying to lay the entire thing on government are idiots. This mess was created by greed, pure unadulterated GREED! Regulatory changes here and there may have influenced things, but hardly were they any root cause. This blaming it on CRA and such is nonsense.
Unfettered capitalism breeds corruption. It’s as true today as it was when Teddy Roosevelt said it, and it’ll be true 100 years from now too.
Markets aren’t gods, Governments aren’t gods, and anyone out there arguing that either of those things are are grade a, center cut, MORONS!
You want to lay blame for this mess, you lay it right at the feet of the laws that created FDMA and FDMC to begin with, let alone the FHLB (another similiar system, that most folks even those up on capital hill I bet couldn’t tell you what that last one is) Where “private companies” are set up to take all the benefit, but the government is set up to assume all the risk! However even that alone is not the cause of this mess! Its part of why we are having to bail it out!! But its not the cause of the mess in the first place.
The cause was pure and simple greed, unfettered greed, and corruption within the government by those who were supposed to be regulating these markets turning their heads as long as they got their cut of the spoils. The SEC completely failed in its mandate, CONGRESS completely failed, the FED completely failed... Though honestly at the end of the day the FED ITSELF SHOULD NOT EVEN EXIST! Its very existance allows such nonsense to occur.
The corruption around the financial problem crosses party lines, and playing tit for tat on that is not going to sway americans who are sick and tired of the crap. THey know what’s going on, and they know its bigger than one political party, its a system that’s fundamentally failing them.
Leadership isn’t about playing the blame game, not when things are in crisis, leadership is about recognizing the issue and working to solve it. Finding and prosecuting the culprits waits until after the issue is dealt with. Until then its a pointless distraction that serves NO ONES best interest. This is a core difference between leadership and partisanship. A partisan just wants to blame the other guy and protect his arse, a leader wants the issue dealt with, and will deal with blame when the crisis is over.
McCain is once again showing LEADERSHIP, something Fauxbama has none of, and calling him on it. You partisans are free to keep screaming about fault, and play tit for tat, and I’m sure the talk radio pinheads will gladly play along with you.. in the mean time the serious folks will be taking care of business.
Show me in my post where I said that there was no Republican blame on this? I didn't mention anything about the cause of this problem, but discussed whether it was a good strategy for McCain to suspend the campaign. I said it might be, or it could just be his old instincts overcoming the good advice he has been getting lately. I don't know yet which it is.
You then apparently became offended, although my post praised the conduct of McCain's campaign. You decreed that this is an example of McCain's theme of "Country First". In response, I merely pointed out that Country First is a platitude without meaning, unless you explain what policies you would undertake "First", i.e., ahead of your party or personal interests.
Most people in politics believe that what they are doing is for the best interests of their country. Even Dems who hope for our defeat in Iraq do so because they believe that Dem majorities in Congress will make America a better, more socialist and progressive society.
So give me not platitudes but policies and actions. When you say "country first", I say, OK, we agree, McCain THINKS he is serving the country's interests. Now where do we go from here? Is he going to go to Washington to join hands with Ted Kennedy, Chris Dodd and Barney Frank, or is he going in order to get together with the best, sharpest minds in DC to come up with the best solution that conservatives would craft? Because I guarantee you, conservatives and McCain voters will not be happy if he bails out Barney Frank and tells the world how lousy Chris Cox is, without considering other solutions that might cost less.
Sarah Palin wouldn't go along with this bailout. She is loved, and great, and a true reformer, because she would fight these old boys and their Wall Street network.