FDIC Demonstrates the Fundamental Cause of the Financial Crisis

If there were ever any doubts about why we’re in the current financial crisis, this should destroy them: FDIC Criticizes Massachusetts Bank With No Bad Loans for Being Too Cautious: A Massachusetts bank that has defied the odds and remained free of bad loans amid the economic crisis is now being criticized by the Federal […]

Money to Lend?

In the “what the hell is going on” department, we have this about the (alleged?) credit crunch: Despite all the turmoil in the recent weeks, and the failure of the bailout plan (so far) to stop the bleeding, the initial assessment that I wrote about back in early October seems to hold true: lending standards […]

MSNBC: CEO’s Should Be Thrown in Jail for Doing Exactly What the Government Wanted Them To Do

Here’s MSNBC.com, on the issue of charging the CEO’s of the financial institutions allegedly “responsible for” the financial crisis, and then throwing them in jail: It may be awhile before these cases are brought to trial. For one thing, the investment schemes at the heart of the financial meltdown reached a level of complexity that […]

Surprise, Surprise: Bush Evades Responsibility in Radio Address

Bush is so bad, it makes me philosophically constipated: I can’t stomach an Obama Presidency, but I’ll certainly be happy to see Bush go: Nations around the world have responded to this situation with bold measures, and our actions are having an impact. Credit markets are beginning to thaw and businesses are gaining access to […]

John Allison of BB&T Speaks Out

John Allison, CEO of BB&T, on the financial crisis: In his hour-long discussion, Allison traced the roots of the financial crisis to government efforts begun under the Clinton administration to promote affordable homeownership using the government-sponsored mortgage backers Fannie Mae and Freddie Mac. That contention has many detractors, who note the share of subprime loans […]

A Democrat Tells the Truth – News At 11

Orson Scott Card, in my opinion one of the important sci fi writers, has this to say about journalism in the age of Obama: If you want to redeem your honor, you will swallow hard and make a list of all the stories you would print if it were McCain who had been getting money […]

McCain Equates 9/11 Villains with Wall Street CEOs

Here’s one reason NOT to vote for John McCain. From ABC News: “We’re going to need a ‘9/11 Commission’ to find out what happened and what needs to be fixed,” [McCain] said. “I warned two years ago that this situation was deteriorating and unacceptable. And the old-boy network and the corruption in Washington is directly […]