Posted by
Bob B on Thursday, October 23, 2008 12:36:15 PM
Former Fed Chairman Alan Greenspan declared today we are facing a “once in a century credit tsunami”
The Dems gave it birth,
Republicans gave warning,
Dems quieted them down.
Neither foresaw the extent of the pending disaster
The Dems fought against increased regulatory action all the way through.
Then they claim lack of regulation was to blame.
Dems responsible for Congressional oversight in house and Senate were leading
recipients of campaign contributions from FNM/FRE
Markets collapse worldwide. Brazil and Russia suspend trading.
There is talk of a second US Depression
Europe is in worse shape than we are as evidenced by the upward skyrocketing dollar.
Now if we are to believe the polls, we are about to put the political party who incubated and nurtured this plague in charge of the proverbial hen house. We are about to elect a leader whose only real executive experience is as a Community Organizer, which included bringing pressure to bear on lenders to lower their standards. The victims are about to honor their victimizers.
Only ignorance can account for it. Total mind boggling ignorance.