Cause of the Financial Crisis

March 2, 2011

Zombie » Outside Job: Using the Oscars to legitimize a political theory

Good stuff shedding light on liberal advocates pushing lenders to make bad loans, then decrying efforts by those banks to turn bad money into good, and all while proudly twisting the truth in an Oscar winning movie.

Yup – sounds like a liberal.

The meltdown was not caused by the bankers who mislabeled their risky debt; the economy would have collapsed no matter who was holding the bag when it all went sour. The only crime committed by the villains depicted in Inside Job was to make sure they weren’t personally liable when all those bad investments went kablooey.

And I like this description of big business… because this is what a large company that’s trying to attract investors is SUPPOSED to be like:

It’s clever to stir up populist outrage against the fatcats who tried to enrich themselves when everyone else went broke. Who doesn’t hate devious fatcats? Even I hate them. But in this case I know that they didn’t cause the recession: they merely tried to profit from it. Because that’s what fatcats do: They try to profit from anything, in any financial climate. That’s what makes them fatcats.

And finally the bit about fooling a TV audience that’s more interested in entertainment than politics… but maybe took the bait as well:

But most Americans will never know any of this. Inside Job dominates the headlines, and the thesis it puts forth is the accepted wisdom of an angry nation. Only the few of you reading this essay, plus a handful of researchers and analysts, are aware that there’s a different side to the story. I concede my likely defeat in this particular battle from the War of Ideas. But all I can do is call it like I see it, a tiny voice in a hurricane of disinformation blowing in the other direction.


GM (and Administration?) Lies

May 3, 2010

Car views: Did Obama administration tell GM to lie about its TARP repayment?

Something smells fishy in this little game of dishonesty… and just for the record Mr. Geithner should consider stepping down as Treasury Secretary if we get another round of “I didn’t know” excuses.

That would add to his Turbo Tax problem, AIG bonuses problem, and the BoA arm-twisting problem. All too easily resolved by saying “I didn’t know.”

Bank Tax – The Real Victim is YOU!

March 8, 2010

Obama’s Bank Tax – The Real Victim is YOU! | The Foundry: Conservative Policy News

Worth checking out… of all the bailouts received, AIG, Fannie & Freddie, and GM+GMAC are the most egregious. Much was given while nothing has been returned (except votes?).

Another Reason Angry Voters Show Up At Townhalls

August 10, 2009

Where did that bank bailout go? Watchdogs aren’t entirely sure – Yahoo! News.

“TARP has become a program in which taxpayers are not being told what most of the TARP recipients are doing with their money, have still not been told how much their substantial investments are worth, and will not be told the full details of how their money is being invested,” a special inspector general over the program reported last month. The “very credibility” of the program is at stake, it said.

Seriously… before Congress expects taxpayers to trust them with healthcare they should at least demonstrate an ability to adequately manage SOMETHING without wasting billions of dollars.