The Blame Game And Great Depression II

There are plenty of reasons for the financial mess we are in. There is a long history behind the crisis with plenty of bipartisan blame for all to share. Hearing Nancy Pelosi blame the whole thing on the Bush administration is a dangerous lie. She was spinning away Wednesday before the particulars of the bailout were put forward casting Bush in a Herbert Hoover redux role.

The immediate cause of our slow moving collapse, Fannie Mae, Freddie Mac, and the sub-prime mortgage crisis, can be laid directly on the Clinton administration's doorstep. It was that administration who through bureaucratic fiat, changed mortgage lending rules to the extent that they became non-existent. Race instead of credit worthiness became the top priority to qualify. The only good that might come from the massive sub-prime crisis will be that using race to qualify for a mortgage will now be discredited.

Also, on Capitol Hill, Republican Phil Gramm and his globalist, deregulation uber alles approach to markets opened the door to the gambling man ethic that seized Wall Street. And yes, John McCain, went along with him on this too(only the grace of Sara Palin and Obama's extreme Left record will protect him on this one come November).

All the above, doesn't let us off the hook. We the people are to blame for electing the leadership of this country. And, there have been voices crying out in the political wilderness. Ross Perot, Pat Buchanan and Ron Paul have certainly been sounding the alarm for years(yours truly is now quite proud of himself for voting for each of them). Unfortunately, the fate of the old Biblical prophets was usually death, and in the modern political arena, all three of our contemporary political prophets have also met with the equivalent of political death.

Meanwhile, back in Ridgley, we at least won't all continue fighting over development. What's starting to look like Great Depression II will take care of that problem because there won't be anymore development. We will, however, have to figure figure out how to pay back all the money we just borrowed to pay for the ghost of development past, Lister Estates, as well as for the ghosts of the now dead future developments. Yes sir, I can hear it resonating in my mind like one of those commercial jingles that won't leave you alone: " we promise that the the taxpayers will never pay for development". Yup, and I have a "bridge to nowhere" to sell anyone who believes that one.