It struck me today as I was listening for the umpteenth time to a media-type comment how the financial crisis has kicked news of Sarah Palin off the top of the news-heap that they sounded positively gleeful about it! I'm so glad that this crisis is giving them something two things to feel happy about!
The first of course, is their contention that bad news in the economy is bad news for John McCain.
They were almost jumping up and down about early voting starting today in some states and how it should help Barack Obama given the current financial crisis.
I saw a good analysis of the current financial situation on the JMac Politics blog. I gather she found it on someone else's blog, so I will lift it from her and post a link here, too! It's on Bloomberg.
How the Democrats Created the Financial Crisis: Kevin Hassett
Sept. 22 (Bloomberg) — The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.
Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex. But really, it isn’t. Enough cards on this table have been turned over that the story is now clear.
The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.
http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_hassett&sid=aSKSoiNbnQY0(Thanks to http://mccainpalin2008.blogspot.com/ for finding this and posting this!)
1 year ago