The Dem-o-rat mess we are in

[wintersprings]

Best rant I have ever seen on the Internet:

"The roots of the economic crisis go back to the 70s, but the proximate causes begin with Clinton's mandates to Fannie Mae and Freddie Mac.

To be fair: There was a bipartisan removal of the distinction between investment and commercial banks, and the Democratic-driven (and Bush insiders supported, although oddly fought against by Bush himself) lifting of the debt-asset ratio. The banking industry, by virtue of its location in the Northeast, is very much a Dem-o-rat baby, and it shows in the efforts of Dodd, Biden, and Frank. Of course, since it is one of their major industry, they would be remiss in not pushing for as much from the Feds as possible, just as the Midwest gets its annual farm subsidies.

But blaming Bush for the economic crisis is far too narrow a focus, even though he is as culpable as many, he worked against at least what I view as the biggest problem, the movement of the five largest banks' debt-asset ratio from 12:1 to being more in-line with European models of 30-40:1"

The Fed is now printing dollars to fix the ratio, but the damage is done. The economy will flat line for at least 10, maby 20 years.

[chernmax (Premo)]

The DemoRats cannot rewrite history since they are on tape!!!