Is the Credit Crisis a Myth?

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Bush Derangement Syndrome is probably untreatable.
It has been years of socialist/activist effort by Barney Frank and other Democrats in the interests of "affordable" housing that has driven this crisis. They have been spending other people's money as fast and hard as they can. These other people have run out of money which is how socialist programs usually fail.

Max of WI 6:47PM September 25, 2008

George Bush is guilty of starting two wars that should never have been fought but the economy is not his fault. Alan Greenspan and his Federal Reserve board are the primary culprits. They needlessly drove interest rates down to 1% providing fertile ground for the sub-prime debacle. If you want to place blame do a little fact checking first.

Kaku of TX 12:26PM September 25, 2008

Why should we have to pay for these greedy investors to "bail them out?" George Bush ran this country into the ground, just like his failed businesses in his past. We all have to pay b/c we elected that idiot into office.

JJ of MN 10:49AM September 25, 2008

So the problem is not that debt instruments are not available they just are not available at a price the greedy bankers want to pay. To BAD. I don't like getting 1.5% on my interest checking either but I have to adjust. I remember when we used to get 5% for savings accountsd but the same greedy short sighted Bankers took that 3.5% and pocketed it.
Too bad boo hoo. There is no crisis. Pay and shut up just like the rest of us have to.

Dean of OR 10:38AM September 25, 2008

Hell, Jimmy, all the "numbers" are saying is that interest rates have been far too low for far too long. They were (are) insufficient to compensate for both risk and inflation.
There is a "crisis". It's been brewing for years. That it has to come as a September election "surprise" is the myth.
Unless 80% of Republicans publicly announce support for whatever bailout bill, Reid and Pelosi should not even bring it to a vote. Democrats MUST NOT allow Republicans to skate away singing a song about free markets and deregulation. Republicans caused this and must be made to "own" it.

of 10:34AM September 25, 2008