Get Real, Bernanke Didn't 'Save' Our Economy

The Fed is printing more money, lending it more cheaply than Alan Greenspan did, and encouraging Americans (and their government) to borrow and spend far more than they can afford. http://www.foxnews.com/static/managed/img/Opinion/Bernanke_Ben_Reuters397_doomsday_604x341.jpg">

But in reality, “the maestro,” along with Bernanke (who would become the maestro’s hand-picked successor) had spawned and fueled an economy-warping orgy of lending, borrowing, and unsustainable housing bubble profits that would not have existed without ultra-cheap money.

The neighborhood reinvestment act requirements poisoned mortgage backed securities and collateralized debt obligations which poisoned derivatives. That's what happened to our economy.

It's happened before. Remember the dot com boom and bust? Remember the Mexican bond default? Remember the S&L crisis?

When these things happen, the sector in question needs to hit bottom to find it's actual value. Until housing does, there will be stagnation in the economy.

BTW, Barney Frank and Chris Dodd are most directly at fault for pulling the rug out from under Freddie and Fannie just before the election. It was done on purpose to take the election.

This should surprise absolutely no one. The MO for the Dems is to hide the truth about who is behind a problem by saying the ones who caused it are the only ones who can solve it. Of course it’s doomed to failure, but that has never slowed them down. They are like teens who’ve been caught red handed and protest their innocence, even though they know you have them dead to rights and their protestations do them no good. They go right on denying everything, right up until the hammer falls. You know they’re guilty, they know they’re guilty, but somehow they thing denial is the way to go.

I don’t know how to get the word out as to just how responsible the Democrats are in the financial ‘collapse’, but until we find a way to get the word out they will continue to blame Bush, ad nauseum. I say ‘collapse’ because I am convinced the entire crisis was a manipulation aimed at affecting the election.

Already everyone has forgotten the millions and millions of dollars people like Gorlick got from positions with Fannie Mae and Freddy Mac. How the books were cooked year after year to make it appear they were sound and should pay out bonuses to Gorlick and others.

Voters have short, very short memories and even less ability to grasp anything more complicated than a game of pick-up sticks or tiddlywinks. The Left are masters at manipulating a dumbed down citizenry with catch phrases and mis-direction. Even with a severe recession they are still able to pin the blame on Bush et al.

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