With the fall of the bull market to the bear of reality, there has been no end to the blame scattered about; greedy bankers, evil capitalism, retched Republicans and Evil BushHitler. Endless carping, blame shifting, scapegoating. Cowards and hypocrites, all.
What is clear in this mess is that Government intervention is not making it better. Why? Because the Government IS the problem.
Run this through your honor detector, if you are still equipped with such:
When Freddie Mac’s executives concluded a few weeks ago that they had to disclose that the government’s management of the McLean company was undermining its profitability and would cost it tens of billions of dollars, the firm’s regulator urged it not to do so, according to several sources familiar with the matter.
Freddie Mac executives refused to bend. The clash grew so severe that they threatened to go to the Securities and Exchange Commission, which oversees corporate disclosures, to secure a ruling that the regulator’s request was out of line. The company’s regulator backed down, the sources said.
Instapundit linked to the story above and had this to say:
Remember, when a private company wants to cover up billions in losses and the responsibility for them, that’s a major scandal and proof of the evils of capitalism. But when a government regulator does the same thing, that’s just how people are, these things happen, whaddyagonnado?
Remember when you were a child and your mother told you to tell the truth? No matter what it cost? Yeah, me too.
I can’t bear to link to the stories of Frank’s, Dodd’s, Emmanuel’s and the other’s continued reprobate ways, their continued hypocrisy in accusing the very companies and agencies they themselves leashed and trained to bring us to this place.
And, please, do not mention the name George Soros near me unless you expect an ungodly outburst. THAT man has much to answer for, “I’m having a good crisis”.