Barack Wrote a Letter . . .
The Born supremacy, and other meltdown myths.
politics, political correctness, Democrats, left wing, pandering, crisis, congress, columns
OCTOBER 29, 2008
Some may find it hard to believe that Mr. Obama had nothing to show for this herculean effort to shake up Washington. They may be shocked as well that such passionate language didn't move the Fed and Treasury to action. For our part, we note that nowhere in his letter did Mr. Obama suggest that the government should stop subsidizing loans to people who can't repay them.
This is the latest fad among Beltway liberals who spent years encouraging noneconomic mortgage loans. They now proudly announce that at critical moments they issued a press release, or wrote someone, suggesting that somebody do something. Since soured mortgage loans are a root cause of this panic, and since Democrats did so much to encourage mortgage lending, the most politically useful of these archived warnings are the ones blaming something other than housing.
credit crisis