Thursday, October 16, 2008

Negligence, criminal and otherwise, part 2

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Here's another video I ran into recently, one with more cringe-inducing footage of republican warnings and democratic congressmen denying there were any problems with Fannie Mae and Freddie Mac and Community Reinvestment Act-related loaning mandates.

No assessment of the current economic meltdown is complete without a good look at the loan crisis and those who, wittingly or not, enabled it. As with all of my posts here, I certainly make no claim of expertise. But I have a pretty good idea how to follow a logical argument, check public records, choose my sources of information with care, look at cause and effect, and put two and two together.

There's nothing quite like actually seeing and hearing some of the key players in action. No, it doesn't give me any satisfaction, but it does give me some insights.

Even so, when is the d-camp going to look at each other, grit their teeth and agree with Bill Clinton's admission that they should have done something long ago, before all this mess happened? I hate to be cynical, but I think Bill is going to be the exception here.

The economic disaster didn't just fall out of the sky one morning when we were having coffee. This problem was years in the making, but denial was, and remains, rampant. And in some ways, that's a tougher problem than mere greed.

To compound the situation during this fallout period, the convervatives who sounded the alarm, and those who are beginning to point this out, are now being accused by some bureaucrats of blaming poor blacks for the problem. This claim is utter nonsense and a clear straw man argument; no such accusation on the part of conservatives is made or implied at all. But I ran into precisely this race card today on the site.

There's more to this tale, beyond my ability to narrate, but democrats: Your congressmen (and women) let you down... and the rest of us while they were at it.

We'll have plenty of time to reflect on this while we wait for our economy (and our retirement money) to come back, all subject, of course, to whether we willingly bring a socialist with undeniable Marxist ties to the world's most important leadership position.

Thank you.

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