Sunday, December 23, 2007

US Government Scrambles to Contain Mortgage Crisis

WASHINGTON - After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster.
Once again the total ineptness of the Bush Abomination heads its ugly rear.

Had the Bushies been willing to provide some oversight and regulation of the mortgage industry the current mess likely would not have happened. However they were too busy mollifying their campaign contributors, providing them with endless tax breaks and other perks, to have really cared. After all, as Grover Norquist and the rest of the neocon wing of the Repignofascist Party will tell you, government regulation is wrong.

You and I and everyone else are about to find out how "wrong" it was to not regulate the mortgage industry.

Heckuva job, Dubya.

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