Thursday, September 18, 2008

McArdle Knows Twaddle

The Atlantic's Megan McArdle explains why Obama and other Bush critics are wrong to blame his administration for the meltdown of our financial markets.

Not having an MBA from the University of Chicago, Spencerblog doesn't understand half of what McArdle is talking about.

Be we can say this with confidence: Megan McArdle is smart. Very smart. Smart enough to be Vice President of the United States. If only she could field dress a moose.

3 Comments:

Blogger David Diano said...

This comment has been removed by the author.

September 18, 2008 at 1:38 AM 
Blogger David Diano said...

This comment has been removed by the author.

September 18, 2008 at 2:04 AM 
Blogger Spencerblog said...

As noted in the post titled "Obama Took the Money and Stayed Quiet,"
despite being in the Senate on a few years Obama was the number two recipient of Fannie Mae and Freddie Mac lobbying dollars.

He got six times in a few years what McCain got in 20.

Talk about revisionist history. It was Democrats like Barney Frank who protected the quasi gov institutions from regulation. They used Fannie and Freddie to fund loans to low-income people who couldn't afford them and helped fuel the mortgage crisis.

As John Gibson reported:

"Democrats Fannie and Freddie have also been places for big Washington democrats to go to work in the semi-private sector and pocket millions. The Clinton administration’s white house budget director Franklin Raines ran Fannie and collected 50 million dollars. Jamie Gorelick, Clinton Justice Apartment Official, worked for Fannie and took home 26 million dollars. Big Democrat Jim Johnson, recently on Obama’s VP search committee has hauled in millions from his Fannie Mae C.E.O. job."

Under Clinton, the de-reg bill passed 90 to 8 in the Senate, so much for the argument that poor democrats couldn't do anything about it.

Not giving McCain part of the credit trying to bring Fannie and Freddic to heel is pure leftist, partisan flakery.

Obama is in bed with the very people who profited from and helped the mortgage giants go down the tubes, thanks to their greed and mismanagement.

If you think that's the sort of CHANGE WE NEED, you need your head examined.

September 18, 2008 at 7:10 AM 

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