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Miscellaneous meanderings and philosophical ramblings. The title from a spiral notebook I used to jot down my thoughts on religion and other matters some years ago. I like to write, think and express my views on various issues. Robust discussion is welcome.

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"Lan astaslem."
I will not submit. I will not surrender.
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Friday, September 26, 2008

The financial crisis goes viral

If you would like to help that is. (inspired by ClobberBlog)

A video that's going around manages to cram quite a bit of information about how we got into this crisis into it's just under 10 minute presentation. In fact, you may have to hit the pause button a few times to fully absorb the data that's flashing by. It's well worth the effort to watch and the music doesn't hurt. Be sure to send it to others, but also take the time to read Ed Morrissey's additional thoughts here.

excerpt (emphasis in bold is mine):

That’s why this isn’t just a Democratic Party problem.  They set the wheels in motion, but all of us should have known better.  Many of us benefited from the bubble, and now the bill has come due.  What we should demand is that the people who got us into this mess — Chris Dodd and Barney Frank in particular — recuse themselves from their committee assignments and stay out of the solution-making process.

The video (swiped from that HotAir post)

Obama likes to talk about how he understands the economy better than John McCain, but the record shows that McCain warned of this catastrophe and supported legislation that could have averted the crisis. Sadly, too many people, primarily Democrats, but also some Republicans simply did not listen or actively resisted necessary reforms.

Barack Obama talks of change. We most certainly need to change what brought us to this moment. We must also change and stop ignoring when a politician warns of what is coming, as John McCain did.

Barack Obama nearly received more money from these companies than any other Senator and did that in only two years. Having a Fannie Mae bought politician in the oval office would certainly be a change from having a number of them in Congress. Is such change something we should believe in? Would that change give us any reasonable hope of avoiding a repeat of this crisis?

*UPDATE 10.01.08* Had to change the video as a copyright claim had been made against the original version because of the music.


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