Wednesday, December 15, 2010

GOP - We're the party of 5 year olds

So, all the Republicans on the Financial Crises Panel got up and walked out on the commission? They want to blame only the Federal Government for this financial crises that wrecked our economy? They think it's all about Fannie Mae and Freddie Mac? Wall Street running wild with unregulated derivative securities had nothing to do with the crises?

Please. These Republicans are like 5 year old children. When they don't get their way, no matter how unrealistic their demands, they cross their arms, pout, and storm out of the room. What a bunch of immature infants.

Fannie Mae and Freddie Mac helped support a $2 Trillion sub-prime housing debt market. But Republican failure to instill adult oversight on to this market allowed Wall Street to create $25 Trillion in bets against only $2 Trillion in securities. When those bets went bad, taxpayers had to bail out AIG and the Banks. The cascading fear surrounding this central issue drove simultaneous selling that caused massive losses across all markets and all economies. But Republicans want to pin all the blame on the base $2 Trillion and ignore the $25 Trillion Wall Street betting parlor that started this mess?

I guess I was wrong. I guess this crises had absolutely nothing to do with Wall Street and it's Laissez-Faire Republican Party supporters (among them, Senator Richard Burr) who failed to instill adult oversight. Pardon me. It turns out that five year olds are much more capable of running our nation after all.


North Carolina deserves better than Republican Senator Richard Burr.

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