Showing posts with label Larry Summers and Robert Rubin guided Bush now Obama. Show all posts
Showing posts with label Larry Summers and Robert Rubin guided Bush now Obama. Show all posts

Thursday, October 29, 2009

WHY???






Just a few things to consider;


WHY has the current administration, which promised CHANGE, followed the exact SAME economic course as the previous one...bailouts, non-stimulating stimulus packages and more than 4X the amount of reckless overspending? The Deficit has been quadrupled over the last year, and the National Debt has climbed to over $12 TRILLION well on its way to a staggering $15 TRILLION!


Given the 2008 Global Credit Crisis was triggered by the 0% down FHA mortgage that G W Bush signed onto, and the government pressing Fannie Mae and Freddie Mac to buy up/guarantee all those subprime loans, WHY has none of that been permanently been stopped BY LAW?


There’s been absolutely NOTHING stopping the Democrats from passing those laws.


Subprime loans are still legal to dole out and for Fannie and Freddie to package, the 0% down FHA loan has not been eliminated and why has Glass Spiegel, which everyone has lambasted as creating the “Too Big To Fail” scenario, NOT been restored by law? In fact, the subprime loan mentality is still on display with the “Cash for Clunkers” lunacy and the 0% loans for appliances.


In fact, if this administration sought to change course at all, then WHY are Larry Summers and Robert Rubin (Alan Greenspan’s two protégés), not to mention Rubin’s protégé Timothy Geithner continuing on in their duties as part of the Obama administration’s economic team?


For that matter, WHY is the current administration continuing so many of the Bush anti-terror policies? Why the continuation of the NSA Surveillance Program when the current President had campaigned against it? Why no draw down in Iraq? Why the build-UP in Afghanistan, which again the current President campaigned on opposing? Why the increased use of rendition? Why hasn’t Guantanamo Bay been closed, when its closing was a focal point of the current administration’s campaign?


But the biggest question mark for me is the economic policies. Given that it was the Bush administration’s Keynesianism that started us off on the disastrous path that led to 2008, yes, over his last two years with a big assist from the Pelosi-Reid Congress, WHY has the current administration so fully embraced that failed Keynesianism and even gone so far as to retain three of the major architects of that disaster, Summers, Rubin and Geithner?


WHY???

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