The more I dig into the history behind our current crisis the more outraged I become… Commenter Veretax writes:
“I think the American people have had it with this situation where the middle-income people in our country are not protected from the ramifications of the risk-taking and the greed of these financial institutions,” Pelosi told MSNBC….
She blames bush and those risk takers. If MSNBC had any back bone (which I know they don’t) they should counter with “But Madam Speaker, is it not true that you own several million dollars worth of stock in AIG which the Federal Reserve just bailed out?”
Talk about hypocrisy.
If MSNBC, or anyone in the media for that matter, wanted to commit an act of journalism they’d ask her why Democrats opposed the Bush Administration’s reform attempts in 2003. Or why they blocked the Federal Housing Enterprise Regulatory Reform Act of 2005 that John McCain co-sponsored?
Hell if they were really interested in practicing journalism they ask Barack Obama how he managed to rack up $126,349 in contributions from Fannie Mae and Freddie Mac in only four years in the senate?
Ed Morrissey has much more detailed analysis at Hot Air:
With the financial sector in turmoil today, the media and the politicians have started throwing around blame with the same recklessness as lenders threw around credit to create the problem. Politically, the pertinent question is this: Which candidate foresaw the credit crisis and tried to do something about it? As it turns out, John McCain did – and partnered with three other Senate Republicans to reform the government’s involvement in lending three years ago, after an attempt by the Bush administration died in Congress two years earlier.
Well said Jeff. Between that and McCain’s call for a commission 5 minutes before Obama’s call for an Advisory group, to later smacking McCain’s inaction at suggestion he pass the buck to a committee. The lack of real journalism today is very very saddening.
In racing its common to call the later half of the season as the “Silly Season”. That being that drivers who have contracts up, or who have been informed their contract will be terminated at the end of the year haggle with other teams or their own and often jump rides. Well this seems to be the political “Silly Season” as that’s about the only thing that makes sense. How could so many college educated legislators talk like they’ve been hit with a ‘stupid stick’ or something. Crazy….