Mr Bush had alot of makeup on, I noticed that. I even looked at some pics on line today of him.
I wondered why? I though of that make-up as the mask of deceit, he had to wear for the speech that followed.
I watched President Bush talk last night, not for long of course. I just can't take to much of that kind of baloney, so I have to limit it to reasonable amounts. I figure no one should have to subject themselves to such distortions, misrepresentation and fear.
And, that speech was overloaded with all of that!
Low interest rates, ease of access to credit, followed by a comment on massive foreign inflows of money are what brought the problem on Mr Bush says.
But, wait a minute, those low interest rates and the ease with which Americans could get credit. How was that all made possible?
Well, from the way Bush spoke, one would never realize that very little of this fiasco was the fault of people. Indeed, some people did make bad choices, many others, were shall I say "guided" there. But, Bush made no mention of unscrupulous mortgage brokers and their zeal for commissions, smoooth talkers, who were willing to commit fraud, if that is what it took.
No mention of a government that had a low interest rate policy and kept it in place, to ensure this debacle continued to grow in an unrealistic and unsustainable manner. The policies of Greenspan and the Bush administration were not even mentioned, remember after 9/11 "go shopping" or Bush saying "take the kids to Disney world" everything is okeydokey!
No, that is not mentioned at all.
When he moves on to the bundled investments sold world-wide by American institutions, to unsuspecting investors. He fails to mention the frauds committed by the sellers of the packages. The American institutions banks and others, who hid their bad debts, in triple A rated packages!!!
If you can believe that is possible,and it is, thanks to ratings firms such as Moody's.
To hear Bush speak, or should I say, to not hear a word of any of this crime, which has brought on this crisis was deceit at it highest level. No acknowledgement of these actions, no accountability, no heads will roll. Nothing.
You can read on that here, here and here, and that is just a hint of the fraud perptuated by big banks and others , on unsuspecting investors world-wide.
But wait,that too, was the fault of the people! Had individuals not taken out mortgages that they could not afford, none of this would have happened. Never mind all the fraud, forget it, it is you, the American taxpayer citizen is to blame. No faults lies with the mortgage companies, the big banks, the ratings companies
And what of the Bush administration roll? No mention of the fact that the Bush administration relied on the foreign investors to fund his rotten wars, and how he needed the people at home to think it was all okay. Indeed, the Bush administration and his "base" are blameless in the face of all the reckless taxpayers who abused the system!
And now, reckless taxpayer citizen, you will pay, and pay and pay. If you don't you will lose it all.
Because, you are to blame!