httpv://www.youtube.com/watch?v=_MGT_cSi7Rs
This video tells you all you need to know about politics. The democrats are presently crying foul and trying to blame the republicans for being asleep at the switch for the past eight years thus causing the crisis. Now, it is our opinion that, yes, the republicans mostly were –with an exception here or there; the most we could expect from them was some mild regulatory changes that would have only forced this crisis onto us earlier and a bit smaller. That’s the case with this video and Freddie Mac and Fannie Mae.
Here we have evidence of just what a bunch of liars the democrats are as their socialist love affair with Freddie and Fannie is exposed. Many analysts warned that these two GSE giants had financial statements rife with criminal accounting that would blow up eventually, yet nobody seemed to care — especially those most socialist in Congress, although you can say the same for major bond investors who counted on a government bailout to protect their investments for decades. What do financial statements matter when you’ve got an implied guarantee at the taxpayers’ expense?
As well, these two GSEs contribute large amounts of money to both parties, neither of whom, in the end, really pushed any legislation to get these entities under control. Moreover, in the vid you have Republican Christopher Shays making it clear he does not read the bills he signs when he comments that he thought the exceptionally clumsy legislation contained in the Sarbanes Oxley Act included some kind of oversight for the GSEs.
Indeed, both parties are unfit to rule. After all, if these people know so much about how to manage an economy, as they insist on doing through regulation year in and year out, and it good times or bad, then how the hell did they allow the economy to get into such trouble?
Moreover, informed minds understand damn well that it is decades of usnound, short-sighted legislation imposed on the free market going back to to the Federal Reserve Act in 1911 that enabled this crisis to develop and then crash. The economic illiterates among the voters have indeed voted into office their intellectual counterparts, and they’re now driving the economic train over the cliff, proving H.L. Menckens observation from nearly 70 years ago that democracy is the theory that the electorate deserves to get what it wants…. and good and hard!
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