Our Coming Depression - Mr. Bush fails to realize that the root cause of the financial crisis is not the housing decline. The root cause is the greed of Wall Street CEOs, including his current Treasury Secretary, the failure of government to enforce existing rules to protect consumers and the greed and recklessness of Main Street USA as they attempted to borrow their way to prosperity. In the classic Washington fashion, the banker bailout bill was repackaged by Washington PR maggots into the Main Street Rescue bill. This is what constitutes progress in Washington. A three page fascist-like bill proposed by Hank Paulson grew to a 450 page goliath pork laden bill in less than one week. The bill that passed bought off every constituent in the U.S. with pork for rum producers, toy arrow makers, and film producers, while adding an additional $120 billion to the national debt. President Bush signed the bill before the ink was dry. The market immediately proceeded to decline 450 points in minutes, declaring that it will not work. Not to worry. Another bailout bill will be on its way shortly.
From
Nony
