The following comment comes from the blog of “The Raging Tory” (the fellow who, for whatever it’s worth — Spoiler Alert: Nothing! — quite laughably claims to be “rarely if ever wrong about the economy”…)
Justin, I think you should give up. This is not because you’re wrong but because it’s CC. Every time you link to his blog, his numbers break through the dozen or so he would normally get. If you want to continue banging your head against the wall, at least don’t link back to his creepy little site.
If you ignore this sad little boy, he will virtual high-five his two or three supporters and move on to the next BT site.
February 23, 2009 10:32 AM
From here we take a casual hop, skip and a jump…traveling over to the site of the aforementioned commenter at his home base:
For some reason I’m in a piss poor mood. I don’t even want to go out and have drinks with my friends from work, I just want to hide in a little hole and ignore the world as it ignores me.
Posted by IngenuityGap at 10:51 PM
As Rupe’s channel once used to say: “We report, you decide”…
What… Tell me it’s not so! Barack Obama had been in office now for all of… 34 days already and there’s been NO MIRACLE yet! Wall Street hasn’t suddenly rebounded? The global economic crisis hasn’t been HEALED!!! The GDP isn’t bouncing back to normal…
Clearly this presidency is in immediate peril of becoming an epic failure.
Well, we were asked…
For the past decade, Quayle has been the Chairman of Cerberus Global Investments and as such, is “actively involved in new business sourcing and marketing for Cerberus in North America, Asia and Europe.” Yes, this is the hapless private equity firm that bought Chrysler from Daimler-Benz for some harebrained reason several years ago and is now seeking multi-billion bailouts from the U.S. and Canadian governments to keep it on life-support. Quayle is also a director of the Japanese Aozora Bank that was acquired by Cerberus in 2003 but is now suffering massive reverses on sub-prime mortgages, GMAC share purchases that tanked abysmally and an ill-considered investment in Bernie Madoff’s dimwitted Ponzi-scheme.
How Dangerous Ideas Destroyed Everything…
Here’s “The Short and Simple Story of the Credit Crisis” — a marvelous little film that helpfully explains how the ideologically-driven financial framework went quite unintentionally, yet suicidally awry and as a result, we’ve now wound up mired in the present clusterfuck…
h/t: Mike in the comments, who generously shared these links.
I can’t help but watch the initial days of this new presidency unfold without imagining in my evil head how this all might have played out if the McCain-Palin ticket had somehow won the 2008 presidential race.
Does anyone feel up to the task of fantasizing about how exactly the dynamic, incredibly “mavericky” duo would have tackled the fallout from the economic meltdown and various other issues… Quite frankly, I’m stumped by this proposition, starting with the inaugural address, my friends…
For whatever reason, so-called “conservatives” rarely let them get in the way of a good argument. Over at the site of “The Raging Tory” (aka Justin Hoffer), commenter Powell Lucas trots out the now familiar myth that many right-wingers appear to find so pleasing (for reasons best left to the imagination): minorities and the Clinton (and/or Carter administration, there are some variations on this theme) were to blame for the housing crisis.
The housing crisis in the U.S. was instigated when the U.S. Congress, during the Clinton administration, adopted a policy designed to get more low-income earners into housing. The Clinton administration proposed to Congress that the qualifications for mortgages be reduced. This change was adopted, and through the Secretary of Housing and Transportation, it was passed on to Freddie Mac and Fannie Mae in the form of a directive.
Too bad that when the former CEO of Lehman Brothers, Richard Fuld, was grilled at a Congressional hearing last October looking into the collapse of the giant investment bank and was specifically asked what role Fannie and Freddie’s failure played in Lehman’s demise, Fuld’s response was: “de minimis.”
That kind of takes the air out of this silly argument, doesn’t it?
The Triumph of Lobbying and the Corrosion of American Government
It’s likely that you won’t learn anything shockingly new here, but it’s still fascinating to listen to Bob Kaiser, the long time correspondent and associate editor of the Washington Post trace the rising influence of the multi-billion dollar lobbyist industry in recent decades.
The rest of the interview can be viewed here and here (or see the whole thing at the PBS website).