Author: Rory B. Bellows
Man, I can’t believe an economic illiterate like Mike Huckabee just got cited on this blog. I better hope the five and dime stores on main street make a comeback because that way he could afford to buy a clue.
Where in that babble did he blame the stupidity of government for this monstrosity of bill that is basically necessary to pass? This isn’t a bailout of Wall Street Greed. Whatever happened there was the symptom and not the disease. Nor is this bill socializing the losses for private firms. This is private firms who got mixed up in a government manipulated market because it was easy for politicians to continue running for re-election on their “increase” in homeownership platform.
The disgrace for my party was in making peace with “Affordable, a/k/a Welfare State, housing activists and not doing something about the sham that was Freddie Mac and Frannie Mae. The shame of the Bush Administration was not being more forceful about what they knew was wrong, and 17 times they asked for reform of these institutions, nor did they do anything to pull back on the Community Reinvestment Act.
I hate this bill. Everyone should hate this bill. Capitalism should be able to absord shocks, but what we have in this country. because of these subversive progressives and the useful idiot do-gooders who march to the beat of their drum, is a quasi-socialist system of government. If we actually had a free market in the housing industry none of this would have happened. Now we need the government to clean up the mess they made and the Fed will have to further devalue the dollar and send oil prices through the roof in order to print up $700 trillion dollars in order to ensure that we do not have open warfare in the streets over the last case of water at Stop-N-Shop.
If you have a complaint, send it to your local community organizer and welfare state housing advocate.