Oh, and let’s not forget Countrywide, the mortgage broker who made all the predatory sub-prime loans that helped run this DUI bus off the cliff to the tune of $4.1 billion of your hard-earned tax dollars.
Every single solitary day 7000 homes in America are going into foreclosure.
And that’s not all. Hewlett Packard waited until after the news programs had started their evening broadcasts on Monday to announce that it was laying off almost 25-thousand employees. I’m sure I don’t have to tell you that unemployment in August was at 6.1% with 84-thousand people out of work, the highest since 2002. And it’s going higher.
But John McClueless says yesterday that "the fundamentals of our economy are strong" and that he now supports increased regulation to help fix the problem. This, from a member of the Keating Five, the group of Senators who profited from the Savings and Loan scandal in the late 1980s. This from the candidate whose Economic Advisor Phil Gramm crafted the Gramm-Leach-Bliley Act and the Commodity Futures Modernization Act, both of which were designed to dismantle all of the safeguards put in place to protect America from another Crash of 1929. (Gramm-Leach allowed the stockbrokers, insurance companies and banks to merge for the first time since the 1930s…just another log on the bonfire that has led to the current collapse of our banking institutions.)
When McCain says the “fundamentals” are strong, he must be referring to donations from evangelical Christians who oppose abortion and support the teaching of Creationism. Those have gone up since he nominated Ms. Moose-alini to hide her far-right wing policies behind a cloud of lipstick and charges of sexism.
The Dow dropped 504 points on Monday, and another 450 points on Wednesday. It dropped 280 points last week after Fannie and Freddie began streetwalking naked in a barrel. And before that it dropped 344 points on the day after Palin gave her acceptance speech at the Whiteman’s Convention in St. Paul.
At this point, no matter who becomes President, they will need a big mop and a bucket full o’ Spic and Span to clean up this mess. And that pretty much eliminates tax cuts, foreign adventures…and spending on social programs. That’s partly why we are in this mess. Neocon Grover Norquist is finally going to see his evil vision of getting government so small that “we can drown the baby in the bathtub.” Rove, Rumsfeld, Cheney, Ashcroft, and that whole nasty cabal who have looted our savings making profits with private contracts in unnecessary wars built on a throne of lies…well, they are rubbing their hands with glee along with Montgomery Burns as they watch the entire house of cards come crashing down like a drunken Jenga game at a frat party.
Folks, this is the result of Deregulation. This is what you get when you pursue the Reaganite mantra of “let the free markets take care of it” to its natural extremist conclusion. This is the end product of the Spend and Charge Republican policies of the past 8 years.
The only bright spot I can see in this conflagration of Casino Capitalism is that McCain’s candidacy is looking like a pipe dream at this point. He now says he supports regulation. I can hear Dana Carvey as George Herbert Walker Bush intoning: “Too little, too late.” The pallor of Palin is wearing awfully thin too. I give her another 2 weeks until Biden carves her up like Fugu at a sushi bar during the debates on October 2. Now that’s good eatin’!
McCain says we should trust him and the “Deregulation Free Market” thugs to fix the economy they broke.
Right. And O. J. Simpson is still insisting that he is going to find the real killer.
Montgomery “Ex-cel-lent” Burns
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