excesses

Being A Dick

Posted 5/11/09 at 10:08am by jamie

Yesterday Dick Cheney restated his claim that “Obama has made us less safe”. Today we have seen the right defending Cheney’s comments.

This morning while watching Morning Joe, Scarborough kept defending the comments by saying “well Clinton was out bashing Bush right after Bush took office”. As usual with Joe he is in another attempt to rewrite history. I still remember the first time Clinton publically spoke out against Bush. It was back in 2004 after the Iraq war was into the disaster stages. It was big news and everyone was going on “wow former Presidents never attack their processors”.

That may be true, but how much of an attack was their on Clinton from the Bush White House? Easy – a lot. If you would go back and listen to the Bush administration back in their early years you would be lead to believe that Bill Clinton gave the 9/11 hijackers their boarding passes and his administration was the flight crew. You would also think that Clinton left Bush with an economy that was garbage, or in other words – the kind of economy Bush left Obama.

Both parties are guilty when it comes to playing the blame game, with the only difference being the fact that Republicans cry the loudest.

But that might change.

BREAKING: Feds Seize Washington Mutual

Posted 9/25/08 at 10:46pm by jamie

The feds went in and seized WaMu tonight. Another financial giant enters socialism.

UPDATE:

From the WSJ:

In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co.

The closing represents the demise of what once was the largest U.S. thrift but came to symbolize many of the worst excesses of the mortgage boom. Federal regulators said WaMu has suffered an exodus of $16.7 billion in deposits since Sept. 15, leaving the Seattle thrift "with insufficient liquidity to meet its obligations." As a result, WaMu was in "an unsafe and unsound condition to transact business," according to the Office of Thrift Supervision.

The "largest bank failure in U.S. history" being the key phrase there. Tomorrow is going to be pure hell on Wall Street.

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