We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
In Bush's first year in office, the White House chief economist, N. Gregory Mankiw, warned that the government's "implicit subsidy" of Fannie Mae and Freddie Mac, combined with loans to unqualified borrowers, was creating a huge risk for the entire financial system.
Rep. Barney Frank denounced Mankiw, saying he had no "concern about housing." How dare you oppose suicidal loans to people who can't repay them! The New York Times reported that Fannie Mae and Freddie Mac were "under heavy assault by the Republicans," but these entities still had "important political allies" in the Democrats.
Now, at a cost of hundreds of billions of dollars, middle-class taxpayers are going to be forced to bail out the Democrats' two most important constituent groups: rich Wall Street bankers and welfare recipients.
Political correctness had already ruined education, sports, science and entertainment. But it took a Democratic president with a Democratic congress for political correctness to wreck the financial industry.
Haven't you heard? This is all John McCain's fault. Yes, the MSM and Democrats are now saying it is all McCain's fault there is no deal to fix what the Republicans caused with deregulation and that Bush created original sin. Too bad most of America will think Obama is the annointed one and will save us on his white horse named Crimson. UGH!!
Did anyone see Barney Frank last nite? What a joke this guy is. Chris Dodd too, with his Soprano's style hair cut. I would rather see Mr Magoo, and Bullwinkle in charge. Mr Magoo who can't see, and Bullwinkle,
who at least is always trying to pull a rabbit out of a hat.
Harry Reid looked like the corpse of a porn star this morning during his press hearing. What a transparent, disgusting piece of flesh that man is. McCain is trying to save this thing and Reid is whining because all of the 'additions' they attached to the rescue might go up in smoke. Repulsive!
Bush also warned many times that regulatory measures must be taken to rein in the GSE's. Using home ownership in a State of the Union address is not the same as telling banks to lend poor people money.