House Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “No.”
Pelosi (D-Calif.) ripped President Bush’s “mismanagement” of the economy and a lack of regulation that led to the current situation.
“I think the American people have had it with this situation where the middle-income people in our country are not protected from the ramifications of the risk-taking and the greed of these financial institutions,” Pelosi told MSNBC.
When asked whether the Democrats “deserve some responsibility” regarding the economic crisis, Pelosi responded: “No.”
Ms. Pelosi has to be in the biggest state of denial, since the dawning of time. In the election of 2006, the Democrats promised to clean up "George Bush's mess", if only the American people would give them a chance. They have had almost two years to get things done, and so far nothing but some hearings on baseball steroid use. They also promised to make this Congress the most ethical in the history of the institution. They have had almost two years to clean up the vile stinking culture of Congress, and yet, tax-cheat Charlie Rangel still has his committee chair and William Jefferson still has his seat. Some ethical reform that was.
Additionally, Obama has been a member of the US Senate for almost four years and has been running for President for 19 months, now. That has been ample time to warn the people of the impending doom. But until today, he has essentially been silent. In fact, it is very interesting to note that he has benefited greatly from Freddie and Fannie.
When Reid Pelosi or Obama are asked about what this major debacle, all they do is blame the policies of George W. Bush. If you ask them what can be done about the entire mess, all they say is elect them so they can change directions from the "failed policies of George Bush".
Democrats running Congress into the ground further than it already was and Barack Obama standing idly by until it gives him campaign fodder. Can anyone fathom the damage that will be done if these imbeciles control both the legislative and executive branches of the US government?
Personally, I don't think government should do anything about these greedy companies that make bad business decisions. I think the government should allow the market corrections to take place, unabated. At some point, we must stop the bailouts and ride this thing out. But as you can see, I am not in Washington and have no plans to ever be, unless it's a sight-seeing tour.
Politicians should stop trying to insult my intelligence by telling me that this someone else's fault (usually the opposite party and its leadership). It's not government's job to control the economy, it's their job to get the hell out of the way and allow the market to cleanse itself. Anything else just sets the market up for failure, another day.
Think of it as resuscitating a terminal cancer patient, only to have the patient die next week.