Michael1942's Blog

In a 2006 transcript from the Federal Reserve  (the Fed) some officials noted that the 2006 housing boom was softening (going South). This softening was spear headed by the subprime mortgage lending  which eventually spilled over into the general economy as jobs were lost, and people went into default. One area that is little discussed are the mortgages in which debt increased rather than decrease. These items while not the whole story certainly suggests that the crisis was on its way to be a full blown economy killer. Several central bank Governors including  Susan Blies (a member from 2001-2007) expressed concerns on a number of occasions but was  ignored. Look at the time line of her voicing concerns and the onset of the “crash”. Our Congress was in a position to deal with this situation long before it snowballed into fruition yet they blamed the Presidents and their parties. No matter who you chose to slam about our economy (and for what ever other reasons associated or not), the fact remains that the sitting collection of Scamocrats and Dupublicans are  more to blame than anyone since they were supposed to have our backs! I offer again the notion that we as voters have the duty and right to oust these neer do wells. It is of no importance that there are others being groomed to ascend to the political stage under the tutelage of  the  current sitters as long as we continue to place the blame where it belongs by voting them out when they fail. We will make mistakes but we can correct them in each future election. We as voters have a simple obligation and that is to disregard the political theater, get rid of our prejudicial dispositions and see the facts. We need to stop being advertised into voting for the wrong people.