The sky is falling!
For realz!
Of course, Obama wants to blame this on Bush, because that’s what democrats do best: blame the other guy. The guy won’t place blame on his party, even though they are in control of the House AND Senate, as they stated when Nancy Peloski took control of the House. Of course, every Obama nut job conveniently forgets this fact and instead blames Bush for his policies, under regulation, blah blah blah.
In reality, this whole problem started before Bush took office. It started with President Jimmy Carter (a Democrat) with the Community Restoration Act of 1977. The act “encouraged” Fannie and Freddie to lend to minority communities. But it wasn’t until President Bill Clinton (another Democrat) introduced his National Homeownership Strategy that put the act into overdrive, causing billions of dollars to go to people simply because of their race and little else. Clinton saw this as a way to get minorities into the middle class. Well intentioned, but failed miserably.
While I won’t get into the details, it’s clear that the problem started long ago, not in the last eight years. To further underscore this, let’s look at Europe. After the stocks in the US started to drop, economies in other countries started to suffer as well. Germany even stated that it would pump more money into their economy because it was floundering. One of two things is happening: Europe isn’t as regulated as we thought OR deregulation is not the problem.
Bailing out failing companies for corruption is bad enough. But I find it okay that they were suffering because a law forced them to make bad loans. People keep blaming the companies for greed. I completely agree. But when the cards are stacked and there’s nothing you can do about it, you might as well use it to your advantage. President Carter provided the deck, President Clinton stacked it, and President Bush is caught dealing the cards.
My question is why doesn’t the mainstream media talk about this? I’m convinced that at this point, Obama can eat a live human baby and people will say, “Aww! How cute! He loves that baby so much that he wants to eat him. That’s so sweet!”
Only in Obama World, does 1 + 1 equal banana, the sky is meatloaf, and unicorns and leprechauns provide free healthcare for all.