September 24, 2008
How the Democrats Created the Financial Crisis
Required reading if you want to understand what the F*ck just happened in our financial markets:
The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.
H/T: Hot Air
Posted by Henry Louis Gomez at September 24, 2008 10:03 AM
Comments
I post this warning here since Verizon no longer reliably delivers my email to you. We have been defeated by our enemies.
http://tomasestradapalma4today.blogspot.com/2008/09/lets-recap-about-our-defeat.html
Posted by: Tomas Estrada-Palma ![[TypeKey Profile Page]](http://www.babalublog.com/nav-commenters.gif)
at September 24, 2008 10:12 AM
Excellent article--I love the line about "Socializing the risk but privatizing the profits." It's clear that the Democrats' Presidential candidate was in it up to his ears, but the MSM will never breathe a word of it.
I think it's time we taxpayers went on the offensive and started an initiative to force those responsible for this mess, that is Fannie and Freddie CEO's and officers, including our wealthy congressmen, to make restitution to these financial institutions out of their own vast personal fortunes, since they've enriched themselves beyond belief from the public treasury. For all you lawyers out there, how exactly can we legally prosecute all of these people for malfeasance?
Posted by: ElenaM at September 24, 2008 12:56 PM
I posted the link to this piece as well. It is required reading for anybody who truly wants to understand the cause of our current FUBAR economic crisis: "The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally."
Posted by: George L. Moneo at September 24, 2008 01:17 PM
Today Rush made a good observation, as usual. He said the people who gave us the banking crisis and have profited from it and are now poised to "fix" it and ruin our economy for good are the same ones who want us to believe that we would be better off with a centralized health care system run by them and occasionally "fixed" by them. He said it much better.
But the thought for the day for liberals is do you want our health care delivery system to look like our current financial mess? That's what we will have after Obama gets finished helping us here.
Posted by: honey at September 24, 2008 02:19 PM
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