Wednesday, October 22, 2008

Card Knows Nothing About the Credit Crisis

This Card fellow repeats the canard that lending money to "poor people" somehow caused the financial crisis and then proceeds to blame Obama for failing to preventing it.

It's all total BS.  He should stick to writing pre-pubescent geek jerk off sci-fi. 

The truth is the Democrats pushed for their own regulatory oversight bill around the same time, but neither side was able to come to terms.  Ultimately, portions of the Dem proposal made is way into the Economic Recovery Plan and Housing bills.

Of course, it would be very inconvenient for McCard to acknowledge that the MSM has failed to follow up on any of McCain's links to Freddie and Frannie.  McCain's own chief of staff is a Freddie Mac lobbyist hired specifically to influence McCain.  Where's the so called liberal MSM now?

Untimately, McCard loses all credibility when he faults the MSM for waiting for the National Freaking Enquirer to confirm its Edwards story when it is doing the exact same thing with the National Enquirer's mulitple stories regarding Sahra Palin's own extramarital affair. 

Get that weak ass shit out of here. 



3 comments:

GammaBoy said...

Aztec,

What is with the name-calling? McCard. Paultard. It's childish, and I'm always surprised that "liberals" seem so prone to doing it. Aren't liberals supposed to be about open-mindedness, respect, and whatnot.

I'm pretty sure that if a conservative commentator starting calling supporters "Obamatards" or something similar, he would immediately be labeled as a racist.

Too bad we can't all bask in the left's moral superiority.

GammaBoy said...

To the meat of your complaint, I need to listen to the links you posted, but seeing as I do work in the financial industry, I can tell you that it is absolutely amazing that Barney Frank and Chris Dodd are not under investigation.

Now I will be the first to admit that Fannie/Freddie are not the CAUSE of our problems. The cause is the Fed and long-term federal debts, but there is no question that the growth of Fannie and Freddie made the housing bubble worse, and the Democrats, particularly Frank, were diehard defenders of institutions that were seen to be helping the poor.

And as Card corectly argues they were helping the poor, temporarily, until those damned laws of economics stepped in and screwed things up.

Aztec Tomb said...

I read a lot of Wonkette, can't you tell.

For the record, I also call BHO Barry, Hopey, and That One - so it's equal opportunity name calling.

Also, I don't whine about "socialist," "Loony Left," or "wetback."

But, in an effort to seize the moral high ground, I apologize for contributing to the coarseness of political discourse in the country and for hurting your feelings. I firmly intend to yield the high ground in short order.

WRT to the links I posted, the TAL shows are worth the 2 hours it will take to listen to them both.

I also recommend reading this month's Harpers, which discloses that some 60% of borrowers with subprime loans could have qualified as prime borrowers, but were forced into these loans because it made the lenders and brokers more money. Predatory lending plays a large roll in this unfortunate mess.