Posted by
The New THOMA$ REPORT on Sunday, September 28, 2008 2:32:26 PM
I'm amazed at the level of complete ignorance and gullibility the media displays (even Fox). They're now asking if the CEOs of the large financial "institutions" are going to go to prison, and why they (many of them) are still getting their "golden parachute. The answer is simple: it's not their fault. They're getting only what the companies agreed to. What caused this "financial breakdown" was the ORDERS given them by the GOVERNMENT under the "Community Reinvestment Act of 1997," passed by the Democrat Congress and signed by Bill Clinton. This act REQUIRED them to make loans,
regardless of a person's ability to repay or face "investigation and sometimes prison" (Janet Reno's threat). They were OBEYING THE LAW! They are the VICTIMS! I'm not even an economist and I can see that. And the economists who are sane agree with me. Only "Keynsian economists" don't (Keynes thought government spending more than it took in was a good thing).
They're talking now of an FBI investigation into the "AIG situation (but will they look in the right direction?)," as if the government taking them over was THEIR fault. It was not. It was the culmination of years and years of bad Democrat decisions and policies that Bush tried TWELVE TIMES to reverse. But every time he tried, Democrats Barney Frank and Chris Dodd and others BLOCKED him. Obama says the "meltdown" is the result of eight years of
Bush's policies. It is NOT. That's a LOAD. It is the result of many more years of irresponsible DEMOCRAT policies "coming home to roost," as the "gas crunch" is the result of many years of DEMOCRAT bad policies. Yet they still try and blame Bush and the Republicans when they tried their best to correct the mistakes of the Democrats. My question now is this: why do they allow the very PERPETRATORS (Frank and Dodd and other Democrats) of the crisis to be in "the forefront" of the "bailout circus? Is CLINTON going to go to prison? How about all the Democrats who contributed to the fiasco? I doubt it, because they control the means of prosecution. (
L. A. Times)