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Thursday September 2nd 2010

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Financial Disaster Coming?

Read this. Send it to all your friends. Send it to your ene­mies and even strangers. This is the absolute truth about the Con­gress. No bull.

Steve Schip­pert posts at Wizbang:

We are wit­ness­ing a fail­ure in gov­ern­ment. Our Con­gress can­not work together to pro­vide an imme­di­ate fix to a prob­lem it cre­ated in the first place: forc­ing the Amer­i­can finan­cial sec­tor to extend mort­gages to those who were high risk bor­row­ers in order to cham­pion to the Amer­i­can peo­ple that more minori­ties own homes than ever. That worked well under a boom­ing econ­omy. But when the nat­ural cycle of eco­nom­ics turned down­ward, fear dis­missed became real­ity unavoid­able. The house of cards came tum­bling down.

And even still, amid all the hag­gling and fight­ing going on in Con­gress over how to shore up the finan­cial cash cri­sis, not a word is men­tioned about chang­ing the counter-intuitive prac­tices forced upon mort­gage lenders in the first place. In this respect, it's not unlike how Con­gress and the White House chose to address ille­gal immi­gra­tion: by try­ing to deal with those already here first rather than ini­tially address­ing the cause: the influx of ille­gals that con­tin­ues to flow unabated.

Make no mis­take, if we wake to Black Mon­day this week, the respon­si­bil­ity lies squarely upon Con­gress and the elec­torate which has put them there, not our banks. Our banks' hands were forced by man­dates from Wash­ing­ton, not their boardrooms.

And here we are. With a Con­gress so polar­ized that they are inca­pable of work­ing together.

We elected them. We pay their salaries. If they mess this up, each and every one ought to be voted out of office in Novem­ber. Com­plete turnover. Fire their asses. You and I both know that if we were even half this bad at our own jobs, we would have lost them a long time ago.

Fire Con­gress!

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