Sunday, March 15, 2009

The Blame Game

This is a long time part of American politics (politics in general). It is interesting to note that the world is facing the largest economic crisis in a couple of generations yet nobody is responsible. Instead, they are all blaming someone else for what occurred.

Let's review. George Bush was President with Dick Cheney serving as his VP. There was Alan Greenspan as head of the Fed before being replaced by Ben Bernanke. Christopher Dodd is the head of the Senate Finance committee. And Barney Frank was the one responsible for overseeing Frannie and Freddie. Finally, Barack Obama was elected on Nov. 4th, taking office on Jan 20th.

What is amazing is none of these people is responsible. Here is an article in which Dick Cheney says that the blame doesn't lie with the Bush Administration. He believes that since it is a worldwide recession that someone else is responsible.

Let us be clear: government played a large part in this crisis. Interests rates were sent to an all-time low to avert the recession after 9/11. This, along with the approved easing of lending requirements, caused the housing bubble. Frannie and Freddie were pressuring banks to buy the paper while entering a state of total collapse. Of course, we cannot forget that Congress passed the CRA in the 1990s which established the subprime market. Finally, the regulatory agencies were completely out to lunch the past 10-12 years. This allowed the devious to operate unabated.

Yet, we hear how "it is not our fault". All these politicians should be in jail. They are corrupt as well as inept. If you cannot imprison them, then perhaps we need capital punishment. There has to be some accountability to the American people. How about if our elected officials actually had something to lose. Do you think they would behave differently if their corruption resulted in execution? I think it would have some impact.

The bottom line is that we cannot trust these incompetent boobs for anything. Half of them are not qualified to work as meter maids let alone occupying the powerful positions they do. It is time they all were removed.

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1 comment:

ononado said...

Might you be interested in publishing your posts to a self-regulatory information sharing community?

There is already some discussion about your posts going on.


http://infomate.org/node/218#comments

http://infomate.org/node/204
http://infomate.org/node/219