[conservatism_IS_compassion]

Summary:

1. The Democrats, especially Housing Secretary Andrew Cuomo, caused the housing bubble.

2. The bubble propagated thru the financial system via AIG, Lehman, et al in ways probably best described by psychology and chaos theory.

3. It is certainly likely that the bubble burst when it did because Schumer and Soros deliberately punctured it for fun and profit. The market digested the news of the bubble, sinking but not entirely tanking.

4. Paulson panicked, Bush followed, and a critical mass followed. Including John McCain. Even Thomas Sowell bought it.

5. Obama was elected, and we are in the soup.

[arthurus]

At least Sowell came pretty quickly back to his senses.