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Whose Fault was it – Really

So – wonder who caused Freddie & Fannie to fail?  The media and Dems say it was those Wascally Wepublians – or not?

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  1. Harold says:

    The question limits responses to two parties, however, both parties receive lobby money from financial corporations to give advantage, a form of corporate welfare. Morgan Bank went to AIG several years ago to sell the concept of packaging assets in a manner that can disguise value and insure the package for fees. Others took up the concept and packaged many offerings that accumulated to ten times the stock market values or the value of the GNP of the entire world. It was quite a run until it could no longer be faked.
    The management of Fannie and Freddie under the unwatchful eye of Congressional malfeasance (both parties knowing full well), offered excessive unsecured loans. Then, the management took bonuses for failing and moved to banks secured by the US Treasury taxpayers money. Now the Treasury is exchanging preferred stock of BOA for common, leaving the management bonuses intact as BOA goes nationalized, which wipes the value of the taxpayer investors. President Bush and Obama just gave away the next three years profits of every industry in the country. That money trail can be followed in detail, so it’s not a paranoid plot fantasy.

    Thus it isn’t a one-sided party affair, but an organized thrust to transfer the wealth of nations to banking firms and their owners who are the controllers of government though re-election contribution through lobbies.

    The press has summarized in this manner many times, but the general press will simply present it as foolish ignorance that is a surprise to be ‘bailed out’, so the rest of the population takes it.

  2. admin says:

    This post was merely to show the total mainstream media bias for one party and against the other. As you have shown there’s a ton of responsibility from both parties, but the mainstream media generally only shows the supposed responsibility, (blame), of the Republicans. The mainstream media also generally portrays the Nancy Pelosi that blames the Republicans. Of course that is her job. If you’re continually fed the drivel that “black is white”, with no other input, it’s not long before black does become white. The mainstream media, by normally only showing one side of any argument, (black is white), is slowly but surely leading this Nation to the path of self-destruction.

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