ZadPolBlog

Wednesday, July 23, 2008

Who's drunk?

As Jack Cafferty put it: “The depth of the intellect at the very top of our nation's government is staggering, isn't it?”
caffertyfile.blogs.cnn.com/2008/07/23/pres-bush-wall-street-got-drunk/

Bush (you pick which one) banking plan:
  1. remove oversight and regulation

  2. buddies screw their own companies, making a bundle for themselves and leaving behind a ticking time bomb

  3. buddies get outta Dodge with their loot

  4. banking sector discovers there’s a massive crisis

  5. government bails everybody out with oodles and oodles of cash - effectively, this transfers enormous wealth from taxpayers to cronies

news.bbc.co.uk/2/hi/americas/7522335.stm
Now here’s dubya’s assessment of the situation: "Wall Street got drunk. It got drunk and now it's got a hangover. The question is, how long will it sober up and not try to do all these fancy financial instruments?"

Um, dubya? Those “fancy financial instruments” are called mortgages. Those of us not born into extreme wealth have to worry about them. And Wall Street wasn’t on a collective kegger – people were taking advantage of your moratorium on oversightby making themselves rich while planting a ticking financial timebomb. See, they knew you’d bail out the companies to hide their crimes, while laughing off the whole situation with some pithy remarks.

We SOOOOOOOO need a change, and need to get actual leadership in the White House. I don’t even want to imagine how four more years of this neocon economic plan would damage this country.

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