Here are a few of the pithiest comments from the sites I've been reading today:
From the LA Times, a comment in response to an OpEd piece by Jonah Goldberg called "No One's Clean in this Mess." I like this comment because it addresses something that's been bothering me - the extent to which Democratic support for Fannie and Freddie contributed to the meltdown.
It's easy to point to Fannie and Freddie and say this all started with crap loans--and easy enough to tie the Democrats to that--for allowing it to happen. But is that what's really causing this to happen? The economists that I'm reading say no--the crisis is being caused by derivatives; to so called financial instruments of mass destruction as Warren Buffet has called them. That's a regulation issue that is directly tied to a Republican administration that did not even try to regulate such risky behaviour.
Submitted by: Donald Baxter, Iowa City
10:30 AM PDT, September 30, 2008
A comment posted to David Brooks' piece "Revolt of the Nihilists"
September 30, 2008 2:40 pm
I have heard time and time again in the past few days that foreclosures are at the root of the problem.This is not true. Over-valued homes are the root of the problem, foreclosures are just another symptom.Everyone is talking about propping up home values. This is will only prolong the agony. Since when is affordable housing a bad thing?
— Robert Constant, Cebu City, Philippines
This last comment ties in to a post on his blog by Dean Baker that was sent to me a friend. Baker says,
"The fact that Alan Greenspan, Henry Paulson, Ben Bernanke and many other others in positions of authority did not recognize the housing bubble in years from 2004-2006 demonstrated extraordinary incompetence. Anyone who still does not understand that the root problem is a bursting housing bubble should not be allowed near the negotiations and certainly should not be writing news articles trying to inform the public."
And just in case you're feeling kind of bi-partisan and country-united-in-the-face-of strife, check out these comments from the Washington Times, posted to an article about Nancy Pelosi's PAC making business payments to her husband's company:
Glad this old hag is getting shown up. I hate Pelosi, Hillary, Royal, and Gwen Ifill...stupid women. The only woman you'll see me getting hot and bothered by is Sarah Palin. And I wish the rest of the MSM would LEAVE HER THE HELL ALONE! Got that, Charlie Gibson? LEAVE SARAH ALONE! LEAVE THAT MOTHER OF FIVE, LADY FROM ALASKA ALONE!
October 1, 2008 at 12:48 a.m.
LOL! Buzzer is blaming Bush!! You need to stay off the pot and Kool-aid! ShowsHow dishonest libs and this dimwit Pelagosi is..Biden will look like the Idiot he is during the debate and the Yobama MSM will say he won!
October 1, 2008 at 12:55 a.m.