Monday, September 22, 2008
The Leopard Changed Its Spots!
Back in 1999, the NY Times was telling anyone and everyone that the current lending standards were going to get Fanne and Freddie into trouble. Now today they are blasting away with both barrel's at Bush and McCain for allowing the banking industry to run amok of themselves and the output of sub prime mortgages. Most notably this was occurring under the express direction of a Democratic President, William J Clinton. The NY Times article said that a bailout of Fannie Mae and presumably Freddie Mac too would result in the largest bailout of the banking industry. And poof ... it happened. And now the leopard has changed its spots and has gotten into lockstep with the Obama campaign to blame the current Republican administration. Now, I am no fan of GWB, but at some point it gets absurd to blame the man for everything.