Thursday, July 10, 2008

That horse is long gone

That horse is long gone


"To prevent a repeat of the current mortgage mess, Bernanke said the Fed will adopt rules cracking down on a range of shady lending practices that have burned many of the nation's riskiest ''subprime'' borrowers - those with spotty credit or low incomes - who were hardest hit by the housing and credit debacles."

A classic example of the neocons slowly closing the barn door, long after the poor sheep have been shorn and the ill gotten profits have been stashed away in off shore accounts, and way after the horse is long gone and the maximum damage has been done.

Don L. Miller.


Anonymous said...

So, shall we leave the door open so that it can happen again?

Exactly who in the Fed was a "Neocon?" Was it Greenspan, who's self proclaimed favorite president was Clinton?

Exactly who in the House Financial Services Committee is a "Neocon?" Was it the Chairman, Barney Frank? (BTW, he is the Democratic Congressman from Massachusetts.)

If so, this might explain the 9% approval rating for the current Democratically controlled congress, a figure released today. Just for reference, the approval rating of King George among the American Colonists was 15%.

This is just another example of Democrats wanting to whine about issues instead of solving them. Please put more effort into helping instead of hindering.

P.S. You might want to correct the spelling in your article heading, unless you just want to complain about it.

Anonymous said...

Did you mean horse or whore? Not that democrats would differentiate. Nice post Uncle Don.

Anonymous said...

You did it! Isn't improvement better? Good job!

Greg Schulz said...

The table to this mortgage mess was set a while ago when banks decided to quit doing their due diligence because it was "costly and unecessary." Alan Greenspan alway felt there was too much government intrusion in the private sector; so he spent almost all of his tenure as Fed Chairman chipping away at the regulations. You don't have to believe me - read his book.

And for the record, though he was never considered the godfather of neocon economics, he certainly did his part to help it along.

So how do we fix it? Answer - We can't without tearing big holes in the economy where tens of millions of people will lose it all.

The neocons succeeded during their turn to be in charge - they finally got FDR. Problem is they brought back Herbert Hoover.