Archive for October, 2008

Greed trumps politics

October 12, 2008

From a McClatchy story published today:

“As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail. Commentators say that’s what triggered the stock market meltdown and the freeze on credit. They’ve specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie’s and Freddie’s financial problems. Federal housing data reveal that the charges aren’t true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.”


Fun fact(s)

October 6, 2008

If you invested $100 in the companies that make up the Dow Jones Industrial Average inĀ  2000, when George W. Bush was inaugurated, you’d have $73 this morning. You would also make a lower salary and gas would cost three times as much. And if you wanted to make a goodbye cake for Bush with frosting blaming Democrats for the economy, the eggs, milk, and flour would cost twice as much.


October 4, 2008

This Republican lawyer from Denver (yeah, the guy in red) went to St. Paul and was interviewed on TV. Then this happened. Funny.


October 2, 2008