Read it all, though for anyone well-versed in the situation it is akin to sitting through an hour of Keith Olbermann on a stomach full of bad seafood. On the other hand, it's always amusing when people who pretend to be serious commentators still see Democrats as Crusaders for the Little Guy (TM), Who Don't Know Much, But Know Somethin' 'Bout Common Dencency Dagnabbit, as opposed to the Republicans with ten gallon hats, nefarious-looking moustaches, and wives wearing fur coats and using their cigarette holders to direct their beaten-down, minority servants.
It would be a terrible shame if the current crisis were to redound to the political advantage of the congressional Democrats who helped begin it by pushing the race-baiting policies (i.e. those against alleged "redlining") and passing the absurd and panicked post-Enron regulations (i.e. the mark-to-market accounting rules included in Sarbanes-Oxley) that contributed to this mess. And I haven't even mentioned their babies, Fannie Mae and Freddie Mac, whose shady activities ultimately began this crisis and somehow went under the radar while Fannie and Freddie contributed a bunch of money to none other than Democratic senators Chris Dodd and Barack Obama. (There were others, but these two are the biggest recipients.) Efforts to reform these corporations, undertaken by John McCain, George Bush and others to prevent a crisis predicted well in advance by Alan Greenspan, were blocked by...hmm, guess whom?
But that truth might be too inconvenient for Robert Kuttner and the liberal establishment.
Posts
