Posted by PrestoPundit on 07/14/2008

of your money to the multi-millionaires running the corrupt mortgage industry.

Bush has become history’s greatest tax collector and borrower for all of the corrupt and failed New Deal and Great Society programs, from farm subsidies to Fannie Mae to Social Security to Medicare.  And the folks making out like bandits are the very richest people in the country, the super rich owners of agribusiness, the super rich managers of the corrupt mortgage businesses, the Wall Street bankers, and the fat and happy retirees — while the current generation of middle class taxpayers and their children are made their permanent slaves for as long as the eye can see.

History should condemn this man, not for botching the Iraq war, but for sending the American economy off a cliff in the service of enriching the most powerful special interests (with a mighty assist from the Federal Reserve and the U.S. Congress).

UPDATE:  Arnold Kling has a school assignment for Brad DeLong — and one for his readers:

Suppose we fill in the blank to the following sentence:

Government intervention is the ____ for the recent housing crisis.

It seems to me, particularly if the FM’s are the biggest risk
factor, then you have to fill in the blank with “cause” and not

And most especially if you understand price controls in the market for money and credit by the Federal Reserve as a government intervention (as it well should be understood).


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: