The Mess We’re In

I have been, as probably you have too, listening/watching the Congress of the United States for the past week debate and blame the current financial mess. There is plenty of blame to go around for both the Republicans and Democrats. I have listened to Barney Frank, Nancy Pelosi, and Harry Reid blame the Republicans alone. All have been asked over the weekend if the Democrats didn’t share some in the problem . . . their answer? “Absolutely Not! This is Bush’s fault.” I think I’m going to be sick.

I have been very disappointed with much that President Bush has done for the past few years, especially in the area of the economy. But the problem is not that he has acted with Republican/Free Market actions, but rather that he has sold out to the near-socialist views of government control.

But the seeds of this problem go all the way back to 1977 and the administration of Jimmy Carter and the “Community Reinvestment Act.” It has become the tool for social engineers to force banks and mortgage companies to make loans that had no chance of being paid back. The media seems to want to ignore this bit of truth.  Stanley Kurtz has written a very insightful article today in the New York Post on how this 1977 Act has been used in recent years. Get the other side that the mainstream media won’t tell you. Don’t miss reading this article O’s Dangerous Pals.

UPDATE: Dr. Thomas Sowell has written an excellent article related to “the mess.” I highly recommend it — Can Congress Fix a Problem it Caused?


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