Queerty is better as a member
Now, this would be a better focus for popular anger than AIG bonuses! Storm the Bush compound!!
The republicans agenda for reducing federal oversight and regulations it what let this happen. Why do we not hear and read the analysts saying this? It happened under the Reagan administration, and it happened under the Bush administration. It took the democrats to fix it the first time. I just hope it isn’t gone too far for it to be fixed this time.
Yes the evil people in power are evil.. but everyone owns plenty of blame here. From the Bohemian club to the working poor who bought 40G SUVs on credit, and (in my area) 500G shack homes, thinking that they would make it rich. How many under employed people do you know who have iPods, Cell phones, Kindles, and expensive cars? We all needed this dressing down, as far as I can see.
BillyBobThornton – why don’t we hear about this? Because the Dems allowed it. Perhaps there were occasions where the Repubs held a supermajority and they passed stuff without Dem support, but for the most part they’re both crooks & dishonest.
Yes, Bush was a moron.
But focusing on him right now is dumb. He himself isn’t solely (or even primarily) to blame for the firestorm we’re in now.
Who is to blame?
Crooks like Madoff.
Congressmen and Senators who authorized taxpayer funded big bonuses.
Dumb banks who lent money to pay it back.
Oh, and idiots who bought houses, cars, and consumer goods they couldn’t afford with debt they couldn’t service — which any idiot could see would lead to disaster — yet view themselves as “victims.”
I heartily agree. My Grandparents were anti-credit and lived debt free and happy. I grew up in the aspirational “buy now pay later” era of easy credit and overspending. I am sure many people are now looking around their homes at all their “treasured” junk wishing they had done things differently. It is definitely time to hunker down and dig out of this mess one month at a time.
That said I think that the American people should have recieved a bailout. The banks are not leading so there is no trickle-down effect (shocker). We all should have gotten a few thousand to apply to credit cards and mortgages to “trickle-up” to the banks and businesses.
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