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December 15, 2009
Economic Illiteracy: Guiding Principle of the Moonbat Democrat Left
Posted by Gregory of Yardale at December 15, 2009 5:32 AM
The majority party is sending a $1.1 Trillion spending bill with over 5,000 earmarks in it over to their jug-eared president --- who will sign it, despite his previous vows to really, really (I mean it this time) get cereal about deficit reduction. After signing it, the president will no doubt give himself a B+ on fiscal responsibility.
Also, our B+ lefty president has responded to a massive economic crisis that was brought about largely by banks making massive amounts of bad loans... by pressuring banks to make even more bad loans.
"Now no one wants banks making the kinds of risky loans that got us into this situation in the first place," he said. "But given the difficulty businesspeople are having as lending has declined, and given the exceptional assistance banks received to get them through a difficult time, we expect them to explore every responsible way to help get our economy moving again."
Yeah, that's real B+ thinking there, President Soetero. Did you ever think that maybe the banks have reasons to be cautious about loaning money? Like maybe they don't want to make a bunch of bad loans and have to go for another bailout?
Also, did you know the city of Baltimore is suing Wells-Fargo for loaning too much money to people with bad credit?
The city's lawsuit claims that Wells Fargo Bank, based in California, pushed African-American borrowers into loans they couldn't afford through an illegal practice known as "reverse redlining," which led to a disproportionate number of foreclosures - and consequently vacancies - in black communities.
Only moonbats would believe that capitalist bankers make money by loaning it to people who won't pay them back. And what's this "reverse redlining?" Aren't these the same people who sued or threatened to sue banks in the first place if they didn't loan money to minorities with bad credit? So, are banks damned if they don't loan money to minorities with bad credit and damned if they do loan money to minorities with bad credit?
Or, is it the case that just as the Earth has some ideal perfect temperature, there is some just-exactly-right level of loaning money to minorities with bad credit that the banks can do and not be sued? If so, would the moonbat left be kind enough to say what the level is and promise not to change it later for political expediency?
Maybe Americans For Prosperity or somebody should send ... lets see, 60 Democrat Senators + 257 Democrats in the House + 1 President ... 318 copies of this book to Congress and the White House.
