Tuesday, September 30, 2008

Pelois Speech to Congress

At least I am not the only one who thought that Speaker Pelosi's speech made no sense, Amy Holmes did too. In one breath Pelosi slams the "8 Years of failed Bush Economic Policy" and in the next is asking Congress to pass the biggest economic plan the Administration has ever put together.


I don't think anyone would accuse the current administration of being one focused on economics, but really, if the seeds of the crisis were sown 20 years ago, who is really to blame? Congress--as much as I would like to blame the Democratic Congress, this one isn't really their fault, you have to go back to the Congress in Bush I and early Clinton years, when diversity ruled the roost and diversity in home ownership was seen as a good thing, no matter what.

Oh, then there is that failed oversight of Fannie Mae/Freddie Mac, but we won't talk about that.

REally, the blame has to fall on those commercial entities who seemed to think it was a good idea to lend money to people with bad or no credit and no ability to pay the mortgage back.

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