political nonsense
This mess with the mortgage “crisis” has been allowed to happen in large part as a by-product of ridiculous party politics. Instead of “crisis” I feel cataclysm is a better term. My six year old daughter is estimated to be $100,000 dollars in debt 15 years before she enters the workforce.
In 2003, the Democratic members of Congress and Home building/banking lobbyists blocked the creation of a commission to get Fannie Mae and Freddie Mac back in line after the Bush administration had proposed it. Lobbyist, tell me again why we need lobbyists? …Special interests need lobbyists, we on the other hand can’t afford any more lobbyist.We need patriots!
I heard a guest on the krantz show today essentially say the banks and mortgage companies were victims of their own generosity when they allowed the poor to borrow more money than they could afford to pay back. So, there it is ,the poor caused this . The poor banks, the banks who are for the most part getting “made well” in this deal with tax dollars. I might add that a signifcant part of the debt in this country is owned by the Chinese government so in effect we are also bailing out a country that REALLY doesn’t need our government’s help backing up investments they made in our private sector economy.
To paraphrase Darrow, you can hang this on the people who did it or anyone suspected but until you fix the elemental causes it will happen again. I think it was caused by simple old fashioned greed and the lust for power by low people in high places.
Now, I would like to predict that this post will elicit a kneejerk political response based on partisan bias. That is my point, we are wasting our time bashing each other based on false party idealism when the real problem is that no one is watching the people we elect and what kind of back room deals that are occuring to cause catastrophes like the current one.
Please join me in looking beyond party politics when it comes to politicians. It is now more important than ever to become simple-minded and remember the early lessons of right and wrong when considering the people we elect. Judge them by their past actions or inactions when they had the chance to do something for all of us instead of just some of us.
