Stupidity of bailouts and liberal politicians

I suppose you have heard about the trillion dollar bailout of bad debt and now hear the politicians on TV telling people that lack of government oversight and greed is to blame for the problem and how we now need bailouts and more federal government regulation to cure the problem.

Most of the same politicians talking today are the same politicians that supported the oversight conditions that created this crises in the first place. They were the ones who put the pressure on lending institutions to ease their rules so that just about any bad risk could get a loan.

They put great pressure on the mortgage lenders to establish easy lending programs for the poor and for  poor risks. But they are now passing the buck and saying the lenders were irresponsible and greedy. Sure, there was fraud and greed by the leaders but when you have government officials who are supposed to be in a position of oversight being the enablers of the greedy and making their practices the norm what should we expect?

It was government that eased the regulations on banks and brokers so that would not have to keep funds in reserve to weather a storm such as this and government allowed them to take those funds to the derivative casinos thanks to the policies of former Fed Chairman Greenspan.

These falsely optimistic idealistic liberals thought everything would just keep getting better and that there would be no more major downturns. These are the same people in government and business who never plan for recessions in their out year budgets. They live in some fantasyland or else they want to deceive the public that the out years will be better than any person living in reality could expect.

Some fools even thought we were post recessions because they thought the government now knew how to keep the economy expanding indefinitely. Ha ha. Nevertheless, we always had recessions and will again. These “financial wizards” are a good part of the reason why we always have budget deficits because they never plan for future economic downturns in their long term budgets. Most multinational corporations and local governments are doing the same thing and that is why when a down cycle comes they are in crises and need taxpayer bailouts.

Here are a couple of articles that explain some of what is going on.

The first article by David Limbaugh, talks about how the liberal politicians got us into the mess that we find ourselves in. They now think more of the same of the liberal big government polices will get us out of it. Ha ha.

The second article is by Pat Buchanan It gets into the stupidity of foolish and incompetent financiers and politicians. Pat gives some some history of past bailouts and our nation’s increasing debt burden in the future partly because of bailouts and partly because government and everyone else keeps spending more than they have.