By Jack E. Lohman
Alan Greenspan says “Oops, I goofed,” and Carl Icahn calls it “bad management.”
No, it’s greed and political corruption. Politicians who were paid to turn a blind eye, did so. They let industries regulate themselves and then found CEOs that were milking the system. Did the politicians not see this coming? Were they not reading the newspapers?
Today’s problem resulted from a faux economy growth fueled by houses being purchased by people who couldn’t afford them, and politicians taking money from lenders to deregulate common sense. Yes, some knew they couldn’t afford and nonetheless bought. Irresponsibly. But a great many were conned into believing they could afford, because sales people get paid when they sell and not when they don’t. There should have been rules… regulation… and there wasn’t. Purposely.
Yes the Dems wanted to be everything to everybody, and the R’s gave them the bullets. They were both in on the deal. Had campaign cash not changed hands, the Republicans would have blocked this stupidity!
Can you imagine what would have happened had President Bush privatized Social Security and we all put our retirements into the stock market?
This entry could have been titled “Who needs terrorists when you have politicians?” given what they’ve done to our economy.
There is simply no way this country can move forward with its corrupt political system. We are where we are because of it. If we are to fix our problems, we must have campaign finance reform. Money in politics has ruined every issue our families face. It can no more.