Bill Cutshall’s Weblog

February 17, 2009

Evil Geniuses or Incompetent Idiots

Right now I am trying to figure out whether the current Financiapocalypse is a result of Democratic subterfuge, Republican conniving, or just plain old-fashioned incompetence.  Sliced any way the situation still looks bad.

Here’s how I see the case for Democratic subterfuge.  We all know by now that the situation we are in is the result of over-exuberance based on a booming housing market based on a government mandate that banks should loan money to anyone with a pulse regardless of their ability to make payments.  The mandate came in the form of a 1993 change to the Community Reinvestment Act of 1977 (both enacted by Democrats) which required banks to attempt to “meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods”.  Clearly loaning money to people that can’t afford to pay it back is a bad idea so there had to be something else at work here.  It makes more sense that the Democrats were setting up a financial time bomb who’s detonation would trigger fear of a free market in the American people thereby undermining the Republican party’s support base to a degree that would assure Democratic hegemony for decades.

Republicans, on the other hand, clearly noticed the impending disaster and warned Congress about the issue years ago.  At the time the Congress was solidly Democratically controlled, however, and thus the bomb was left to tick.  It is possible that Republicans, reading the handwriting on the wall telling them that they were soon to be an abject minority in the US government,  were content to then remain quiet and allow the bomb to explode ensuring that the ensuing liberal administrations would have little or no money available to spend on liberal programs thus disappointing their support base and allowing the pendulum to swing back towards center.

Both ideas are patently paranoid and I am considering fashioning an actual tinfoil hat to wear as  a statement that I now find it difficult to differentiate between reality and insanity.  But maybe it isn’t just me.  Maybe all of us are being desensitized to the strange and unusual by overexposure to 24 hour news shows and Internet access everywhere.  Shouldn’t some of the things we are hearing cause some serious alarm?  Nobody blinks about a tax-cheat heading the IRS.  Nobody raises an eyebrow when the census is moved directly into the White House where the results will be created by “estimate”.  It doesn’t seem to upset anyone to hear serious discussion of nationalizing our banks and auto industry.  Congress just wrote a  seven hundred and eighty-seven billion dollar check without any idea of what percentage of it, if any, would help our economy.  It is little comfort to think that we are led by diabolical geniuses rather than incompetent idiots.  Either way our future is in serious doubt.

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3 Comments »

  1. Occam’s razor…

    Beware attributing to malice what can just as easily be attributed to stupidity.

    BTW, the argument against the republicans is more about their removal of regulation allowing the Enron’s of the world to run rampant.

    Comment by David L — February 17, 2009 @ 11:57 am | Reply

  2. Summer’s coming on and school’s going to be out soon, but shouldn’t these children remain in class a bit longer?

    That’s the feeling I receive when a handful of Republican governors are considering turning down some money from the federal stimulus package, a move opponents say puts conservative ideology ahead of the needs of constituents struggling with record foreclosures and soaring unemployment.

    http://ourcountryspresident.wordpress.com/2009/02/19/can-a-voter-actually-say-%E2%80%9Ci-voted-for-this-official%E2%80%9D/

    Comment by Tom Awtry — February 19, 2009 @ 8:56 am | Reply

  3. Nice post! Keep it real.I have looked over your blog a few times and I love it.

    Comment by Forex news — February 19, 2009 @ 9:26 am | Reply


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