Facing the Facts About Our Current Economy

Message 63 of 4891

If I was to quote Fox News about something, many would immediately dismiss it as being biased, since they hate Fox News. But what about the San Francisco Examiner? Not exactly a bastion of right wing thought. So here was the title of an opinion piece from April of this year:

Congress Ignored Warnings of Fannie and Freddie

It seems that President Bush warned Congress 17 times that there was something rotten at Fannie Mae and Freddie Mac.

Here's a quote:
"On Sept. 29, 2008, House Speaker Nancy Pelosi, D-San Francisco, praised House Financial Services Committee chairman Barney Frank, D-Mass., for his “leadership.” In the next breath, she blamed the subprime-mortgage meltdown on a supposed lack of Wall Street regulation by right-wing ideologues in the Bush administration.

Turns out Pelosi had it exactly wrong."

The really bad news about this editorial is that towards the end of the piece, they point out that really nothing has changed at either place. THEIR STILL DOING THE SAME STUPID STUFF THAT CAUSED ALL OF THIS IN THE FIRST PLACE. And the Sec. of the Treasury is aiding and abetting them.

Here's the link:
view link

What do you think?

posted by bhubbell1

Replies 21 - 26 of 26

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Dirck IS right on the money (so to speak) with this.

posted by Veggiebubble
about 1 month ago

Thank you Flicka and Veggie for your concurrence . Here is an interesting economic fact that I read in Stephanie Pomboy's " Macro Mavens " . In the 10 years from 1998 to 2008 , the PRIVATE sector in the USA LOST 558,000 jobs . In the same period , the GOVERNMENT sector in the USA ADDED 2 million jobs . Those numbers didn't surprise me at all , I have been saying for about 20 years that government is the only growth sector in the US economy . What DID surprise me was that the overwhelming majority of those government jobs , about 95 % , were at the state and local level . Now , with their revenues down drastically , state and local governments are finally going to have to face reality and start cutting costs , since they can't run the big financial scam that the Feds can . So far in 2009, state and local government have cut around 179,000 jobs , with LOTS more cuts on the way .

posted by Dirck
about 1 month ago

That sounds about right Dirck, people always want better government services, but many of those services would be better served by outsourcing to the private sector with government oversight only. The bad thing about that is the government overseers usually end up on the wrong end of a bribe. (And no, that doesn't mean there is a right end)

posted by Pluto50
about 1 month ago

Campaign finance reform....Pro's and Cons
view link

posted by Charles1950
about 1 month ago

Charles after the first category , none of the other categories show anything after you click on them . In any case , I find it almost impossible to find anything about campaign finance reform that could be considered a con , unless you are someone who wants to bribe a politician , or are a politician who wants to be bribed .

posted by Dirck
about 1 month ago

Your absolutly right. About the link. My bad.~Smile~

posted by Charles1950
about 1 month ago

Replies 21 - 26 of 26

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