Posted by
Paulski on Sunday, December 21, 2008 12:30:05 PM
On Dec. 20, 2008, NY Times Jo Becker,
et.al. wrote "White House Philosophy Stoked Mortgage Bonfire"
with that special insider knowledge only the liberal media can
obtain. With such words as "in the words of one
participant, 'scared the hell out of everybody'" and "Mr.
Bush, according to several people in the room, paused for a single,
stunned moment to take it all in". And not afraid to tell
us it was Bush, she wrote "As early as 2006, top advisers to Mr.
Bush dismissed warnings from people inside and outside the White
House that housing prices were inflated and that a foreclosure crisis
was looming."
This is incredible since there is video of
Barney Frank with Bill O'Reilly telling O'Reilly how Federal backed
mortgages are sound and safe. Why is it that Jo Becker and friends
have no inside info on Chicago dealings? Hmmm. It seems inside
secrets are only invented for liberals about conservatives.
Several
finance people up to and after the crisis event have told me that
accepted opinion was mortgages were a problem due to how they were
being managed and marked. Barney Frank was the head and master of
this crisis not Bush. International accounting rules that match
up to US standards were NOT being used because of Barney Frank's
appointments. Yes, Bush has some responsibility in that he
could not control congress and get the "Maverick" to focus
on getting Mortgages under control of acceptable accounting
practices.
I do agree with the liberal view that Bush was an
idiot. He was an idiot to believe that politicians follow a
moral code and abide by loyalty to the service of the people.
Yes, Bush was an idiot for not asking for the resignation of Barney
Frank and friends. Yes, Bush is still an idiot to think that
politics is not a contact sport played by devils and angels.