Specifically, my thanks to him for writing this article, which starts with an alleged 2008 conversation that he had with two ‘Republican’ financial experts:
…one offered a dire and uncannily accurate forecast. He explained why banks would blow up, investments would crash and the federal government would have to spend “at least $300 billion” to bail out financial institutions.
The other financial expert listened closely, took a sip from his drink, and smiled. “This,” he said, “would seem like an excellent time for the Democrats to take power.”
I agree: it was an excellent time. After all, it’s their fault that we’re in this mess in the first place. Remember Burning Down the House? – because it’s an excellent time to revisit it, too. It’s a bit long; but think of it as a tutorial for helping you learn to deprogram some of your mugged-by-reality colleagues and friends.
It didn’t resonate in the 2008 election cycle… but, hey: it’s 2010 now. You better off now than you were in 2006?
Moe Lane
PS: Dionne’s valiant attempt to pretend that nothing negative about the current economy – nothing at all – should be laid at the feet of the current ruling party has been both duly noted and mocked.
Crossposted to RedState.
, and is (to the best to my knowledge) in the public domain.
[...] above to obtain the passage of the Enabling Act. Today Moe Lane features a video explaining how the Democrats’ passage of the Community Reinvestment Act, and their subsequent amendments to it, created the conditions for the mortgage market meltdown [...]
[...] boom-and-bust cycles under discussion in the video above, this is a good place to include a video Moe Lane featured in a post on Jan. 18, which explains how the Community Reinvestment Act passed under Carter and amended under Clinton [...]