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Playing Frisbee on the Edge of a Cliff October 10, 2008

Posted by tkcollier in Economy & Business, In The News.
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One had the sense this week that our entire political class is playing Frisbee on the edge of a precipice, that no one is being serious enough, honest enough, that it’s all too revved, too intense, and yet too shallow.

As to what they will do about the crisis, Mr. Obama will raise taxes on the rich and help us weatherize our homes, while Mr. McCain favors “energy independence” and buying up mortgages. On the causes of the crisis they spoke of insufficient regulation, or high spending.

But these were not the great causes. Neither party has clean hands. Or rather, both parties have dirty hands. Here is the truth, spoken by the increasingly impressive Sen. Tom Coburn: “The root of the problem is political greed in Congress. Members . . . from both parties wanted short-term political credit for promoting homeownership even though they were putting our entire economy at risk by encouraging people to buy homes they couldn’t afford. Then, instead of conducting thorough oversight and correcting obvious problems with unstable entities like Fannie Mae and Freddie Mac, members of Congress chose to . . . distract themselves with unprecedented amounts of pork-barrel spending.” That is the truth. Declarations – WSJ.com

Comments»

1. RaiulBaztepo - March 28, 2009

Hello!
Very Interesting post! Thank you for such interesting resource!
PS: Sorry for my bad english, I’v just started to learn this language 😉
See you!
Your, Raiul Baztepo

2. PiterKokoniz - April 7, 2009

Hello !!!! ^_^
I am Piter Kokoniz. Just want to tell, that your blog is really cool
And want to ask you: will you continue to post in this blog in future?
Sorry for my bad english:)
Tnx!
Your Piter Kokoniz, from Latvia

tkcollier - April 8, 2009

Been traveling a-lot lately and can only get on the net by tethering my phone. But I’ll be back posting again soon. How about a picture of Barbie at 50?


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