Friday, September 26, 2008

Mad Men

I don't mean the wonderful AMC cable series (though the spinmeisters on that show would be right at home with the spinmeisters in DC) but indeed the clowns in Washington who have put us in this mess and are now scrambling (after denying for months that there was a problem) to find a fix. Frankly when Democrats tried to get relief for mortgage holders who were at risk of going into default, the Bush administration would have none of it. Yet had $700 Billion bent spent either refinancing those mortgages at affordable rates or otherwise supporting them, the mortgage assets that are causing the current crisis would not have to be bailed out now.

The crisis would have been averted and homeowners would not be facing default and the loss of their homes - with all the other serious consequences that is entailing.

Moreover if we weren't spending $12 Billion a month in Iraq combined with foolish tax cuts for the wealthy and the resultant ballooning deficit and debt, the dollar would be stronger, oil would be cheaper and our economy would not be in crisis.

Them's the facts folks. Read em and weep.

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