Sphincters Of Steel

Dominic Lawson: Democrat fingerprints are all over the financial crisis

Of all the characteristics of a successful politician, none is more essential than bare-faced cheek. Never has this been more evident than in the past fortnight, as senior Democrat members of the US legislature have sought to lay all the blame for the country’s financial crisis on the executive arm of Government and Wall Street.Neither of these two institutions is blameless – far from it. Yet when I see such senior Democrats as Barney Frank, Chairman of the House Financial Services Committee, and Christopher Dodd, Chairman of the Senate’s Banking Committee, play the part of avenging angels – well, I can only stand in silent awe at the sheer tight-bottomed nerve of it. These are men with sphincters of steel.

Once again, have supposed “do-gooders” hurt the ones they profess to love and help?

The saddest outcome of all this within America – apart from the crippling cost to the nation’s taxpayers – is that the very people the Democrats had intended to help will be the biggest victims: for many years to come banks will demand the most stringent terms for mortgages to the least well off.

We can hope that won’t be true, but even if it is — if one cannot afford the mortgage payment, it’s better they be denied.

via Classical Values

Experts And Idiots

I’ve been asking in comments on various blogs why the raters of MBS (mortgage backed securities) were not more on the hook than they seemed to be.

If you have an expert, a supposedly unbiased expert telling you that this is a good investment, should you question their motives?

Apparently so.

Read An Expert-Induced Bubble.

I still think that while the creation of Fannie Mae was a good idea 70 years ago, it should have been phased out instead of encouraged to grow. In every instance where its growth has been phenominal, it’s been a Democrat controlled Congress that has spurred it on. Note that I am not blaming Democrat or Republican presidents, but Congress.

Note also, that neither party is capable of always getting its way even if it is in the majority. Everything is ultimately bipartisan to some extent.

Finally, this entire fiasco is a good time to review whether government programs can improve the financial well-being of poor people, regardless their color. It is also a time to examine the playing of the “race card” every time regulation, oversight, or cutbacks are called for.

Stupid, Evil, or

Pelosi, Reid, and the Democrats do not want to take “ownership” of the bailout. Sure, it’s a lot of money and they don’t want responsibility for a spending bill of that size.

But does it go further than that? Do they fear it the spending bill will fail? Do they want they economy to fail, with or without the spending bill? I think that Pelosi is playing politics, fast and furious. She said the bill was in response to “failed” Bush policies of the last 8 years. Hasn’t it been adequately documented that the policies of the last 30+ years are responsible?

With all due respect (which may be none) I am of the opinion that Nancy Pelosi did not want this bill to pass. The reasons why may be numerous.

If I may quote myself (a comment on Ambivablog)

If Pelosi had really wanted this bill to pass, it would have. You cannot convince me that there were not 12 of the 95 Democrats who voted “no” that she couldn’t persuade to a “yes”. She has a bunch of carrots and a wheel barrel full of sticks to use, but she chose not to. Then she did everything she could to ensure that no “on the fence” Republican would be swayed to vote “yes”.

Yet she ( and her Democrat cronies) are doing a very good job of making it look like this was all the Republicans’ (and by default, John McCain’s) fault.

That takes a lot of talent if you ask me. Talent put to use NOT for the good of this nation or for its citizens.

Nancy Pelosi is not stupid, she’s mean-spirited and evil.

I do not want my blog to become a political blog. I’d much rather post pictures of my grandchildren. At one time, I thought about this place as a money-making venture. Being political is one way to do that. But it really isn’t a way suited to me. Been there, done that, found it’s only useful once every four years.

I’m a registered Republican, because I wanted to vote against David Duke 10.. 15… how many years ago was that? The only bumper sticker I’ve ever even considered putting on my car was one for Edwin Edwards, the crook, when he was opposing the racist (truly racist, not just a politically incorrect racist) David Duke.

(I also considered putting a “Don’t blame me, I voted for Jindal” sticker on my car. But I didn’t. I really hate bumper stickers.)

Bottom line – it’s Amba’s to promote if she chooses. Michael Reynolds doesn’t think I get the “politics” of this fiasco. Of course, I disagree!