Skip to comments.Bloomberg Hides Government Causes of Financial Crisis
Posted on 01/05/2012 2:33:19 PM PST by neverdem
Media propagandists continue to advance the Democratic Party line.
On December 21, Bloomberg News breathlessly reported, "The leading Republican candidates for president have embraced an explanation of the financial crisis that has been rejected by the chairman of the Federal Reserve, many economists and even three of the four Republicans on the government commission that investigated the meltdown."
Reporter David J. Lynch further explained, "Both former House Speaker Newt Gingrich and former Massachusetts Governor Mitt Romney lay much of the blame on U.S. government housing policies, saying they led to the real estate crash that almost brought down the banking system and has cost homeowners $6.6 trillion since 2006."
But it's not just Gingrich and Romney. Virtually every Republican and conservative across America recognizes what is by now well established in the literature -- the government caused the financial crisis.
Among the leading expositions of that government malfeasance are Paul Sperry, The Great American Bank Robbery: The Unauthorized Report About What Really Caused the Financial Crisis (Thomas Nelson, 2011), Gretchen Morgenson and Joshua Rosner, Reckless Endangerment (Times Books, 2011), John B. Taylor, Getting Off Track (Hoover Institution Press, 2009), and many contributions by Peter Wallison, including in particular his Dissenting Statement in Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States (December 24, 2010). My own book, America's Ticking Bankruptcy Bomb (HarperCollins, 2011), explains in great detail how the government caused the financial crisis...
(Excerpt) Read more at spectator.org ...
The very idea that they would try to blame “greed” is in itself hysterical. Greed like is what drive any and all markets. Without Greed there would be no non-Subsistence production period.
Furthermore it is demonstratively impossible to eliminate or control “greed”. Greed is a integral part of human nature and it extends not just to the greed for voluntary power(money) but most particularly greed for forced power(Goverment & criminal).
It is absolute hysterical that anyone would attempt to blame any crash on greed. That is the same as saying you lost money because you wanted to make money.
Repo Men (Wall St. bankers and D.C. ruling class, more than a few of them belong in prison.)
The RepoMen have switched over to Mittens.
Thanks for posting this earlier, neverdem!
This whole story line in this “news item” from Bloomberg is being run out of the Center for American Progress, and thus, is from George Soros. The whole modus operandi, however, comes from the radical left union movement, SEIU and others.
David Min at the Center for American Progress comes up with all the talking points and the bogus statistics and arguments and then they are peddled all over. There is a meme that is repeated and repeated by those employed by the Evil Empire of the DNC, George Soros, CAP, Barack Obama, SEIU, other unions and all their allies.
Bloomberg has bought the memes from the Center for American Progress hook, line and sinker. God knows, they were probably in on the scheme and helped come up with the propaganda campaign. Media Matters is fanning out its bilious minions to attack anyone who comes up with an explanation of the crisis that in any way blames the government.
This is why the horrendously vicious attacks on Gretchen Morgenson and Josh Rosner’s book, Reckless Endangerment, and before that,Guaranteed to Fail by a group of New York University professors.
On Amazon.com a nasty, there’s a vicious attack chihuahua from Media Matters in the employ of slimey David Brock, George Soro’s little poodle. This vile thing on Amazon hides behind the screen name of NYCReader1. He/she/it spends a lot of time attacking any and all books that lay any blame whatosever, however remote, on the government, Fannie Mae or Freddie Mac. These attacks have been going on since last spring on Amazon.com. So, the strategy behind this campaign has been underway for some time.
There are others from Media Matters and allied organizations on news cites and blogs repeating a standard litany of deceptions and lies about Fannie, Freddie and government housing policy. None of their claims can withstand even a few seconds of scrutiny. But, they keep repeating. It’s the Big Lie. Leftist loon Joe Nocera at the New York Times accuses people like Ed Pinto and Peter Wallison at the American Enteprise of The Big Lie - but Nocera is the one with the Big Lie.
Here’s the strategy: Do everything to prevent the GOP from blaming government for the crisis. I think this is why Barney Frank was forced out. He was too much of a liability to the DNC Soros/union thugs.
People, Soros and other crony Marxist thugs who get richer and richer on corruption and cronyism want to cover up the original massive corruption and cronyism that is government housing policy. They are using Joseph Goebbels strategies and they are pursuing it with a vengeance. They must be exposed, arrested, tried and pay a steep, steep price.
Elizabeth Warren is part of this coven of wretches, and her funding by Wall Street makes a mockery of her claim to be the “founder” of Occupy Wall Street. Another wretch is the diabolical new head of the Consumer Protection Financial Bureau, DICK Cordray. He was interviewed on CNBC today. He reeked of evil and contempt for the public. He had a sneer on his face. A man of enormous arrogance.
These people are pure evil. They are totalitarians. They want absolute power (for the crazy Marxists) for union thugs and an unlimited purse from the government and rigged rules so Soros can continue has criminal career of amassing wealth by destroying everything good and decent and so unions, especially public sector unions, can continue to steal from the rest of America and line their pockets.
We are at war whether we realize it or not. We need to get organized to utterly defeat and ruin these people.