Friday, September 26, 2008

John Boehner & Eric Cantor Think You're Obtuse

Top House Republican leaders disdain the intelligence of Americans. Sure anger can impede clear thinking, but positing a five day old situation as "root cause" of the credit crisis? That seems insincere, if not nefarious. Here's what the Boehner/Cantor cranial-rectal interface produced:

Instead of injecting taxpayer funds into the market to produce liquidity, private capital can be drawn into the market by removing burdensome regulatory and tax barriers that are currently blocking private capital formation. In short, too much private capital is sitting on the sidelines during this crisis, and it is well past time to unleash it.

The solution to an imploded, unregulated market is more deregulation? But more bait & switch from the Bucking Chadstards!

With their $7 trillion and $2 trillion in derivatives, Morgan Stanley and Goldman Sachs fled an unregulated market last week for the less risky waters of “commercial bank status”. Up until then, they were free to get all the capital investment the world wanted to give. However, their hold was full of rotting fish. They got no takers.

Boehner/Cantor’s root cause is whole seven days old, if that. Were the God of the Old and New Testament as interventional today, the earth might open and swallow this pair. Surely, God wouldn't make a way for those gate crashers...

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