Dealbreaker–a Wall Street Tabloid (as they call themselves) is the recommendation of Glenn at Instapundit for those who need/want a scoop on what’s happening in the financial markets. I’ve confessed on Tammy Radio that the financial world is not my bailiwick, so I too will be going there to at least get a sense of what the heck is happening each day as company after company seems to be falling because of either corruption, greed, or general stupidity.
While our concern is not the Barry Obama “It’s time to panic!” hysteria, I am getting increasngly irritated with the fact that it is our tax dollars now being poured into the system to save it, and I still don’t get any whiff of warrants being served or people under investigation for doing things that caused the collapse of major financial institutions.
This, too, is a large part of the legacy of George W. Bush. It seems now every day he’s left in office is a bad day.
This is not Bush’s fault or even the “greedy” banks. Here’s Neal Boortz’s pretty succinct assessment of it (he was a real estate attorney before going talk radio full time):
1. Almost all of the financial problems we see today are based on bad mortgage lending. That would be lending money to people to buy homes who didn’t qualify for a loan.
2. The Democrats, under Clinton, strengthened a government-created monster called the “Community Reinvestment Act.” This law was then used by “activists” and “community organizers” (like Obama?) to coerce lending institutions to make these bad loans … millions of them.
3. Now we see what happens when political “wisdom” supplants good loan underwriting. When private financial institutions are virtually forced to make loans to people with a bad credit and job history .. this is what you get. Enjoy it.
This ship (the US Economy) is sinking fast due to decades of uncontrolled spending and debt. We need to let the ship sink NOW – and let things “correct” themselves. Better to sink 10 miles from shore – than plugging the leak, continuing on with a business as usual attitude and sinking 1000 miles out at sea! It’s gonna be BAD folks, but it will only be worse the longer we delay the inevitable collapse. Not to mention the profanity is leaving this mess for another generation.
Tammy,
How about Hilary cancelling her appearance at the protest when she learned Palin was going to attend as well. Hmm…if I am not the star I am not going! Give me my marbles I am going home!!!