Economic crisis: Whose fault is it?

I had thought it would be entertaining and perhaps enlightening to see who Time magazine thought was the 25 people most responsible for our current financial crisis.  Instead, it turned out to be a puerile political screed blaming the right for being on the right.  Hey I am up for blaming anything on that idiot Bush.  In fact, I think he was a Satan Worshiping Nazi War Criminal who should have been impeached and should be be subject to war crimes trials.  However, I believe Barney Frank in particular and the liberals in congress in general are the most at fault.  It was they who forced banks and regulators to make home loans to people who could not afford them.  The media,  being full of the same kinds of Marxists who infest congress, simply covered the backsides of the Commie Congress.  Just like they always do.

Having said that, I would put  Bush second in line for blame.  Just as Bush’s government sat around with their thumbs up their collective behinds and failed to prevent 9-11, so  too did the Bush Government fail to prevent the financial crisis.  Congress,  a day and a dollar short,  finally grilled some of the regulators who couldn’t find the Bernie Madoff scandal or a rotten peanut if it was handed to them.

Next in line for blame is the greedy bastards on wall street and in the banks.  They knew or should have known that the worthless loans they were packaging and repackaging would one day come due, but they didn’t care.  They were making money and besides, there was always a bigger fool somewhere out there to buy the repackaged  horse crap from them.

After that I  blame the world’s governments such as Iceland.  Oddly enough, the finance ministers of European countries  acted more like the head Bozo of the insane Klown posse and rather less like the Mensa candidates they have gone to great lengths  to convince us they are.

And finally I blame the news media like Time and CNN.  Instead of spending your time covering the assess of communists or shoving a camera up some bimbo’s skirt, it would be nice if you got up off your collected asses and covered a real story some time.  Yes, people are killing each other in the middle east again and they will be doing so 2000 years from now.  Doesn’t news imply “new?”    The imminent collapse of the world’s economic system is rather “news”  and  no news is more important or timely.  How did you a-holes miss that?   Especially you pundits who are rather fond of telling us the reason we don’t think  handing the same circus klowns who just lost one trillion dollars another trillion is not a good idea is that we are both stupid and ignorant.

What is my solution for  the mess?  I would love to say I don’t have one but the current idiots in charge are frightening in their duplicity and stupidity.  So I guess I have to pretend.  Okay.  Let’s try this:

1.  Tighten up the home loan markets so that no more bad loans can be made.  If someone wants a loan he has to provide proof of everything in his application.  He has a to have a job and good credit or no loan

2.  Stop the foreclosures by having the federal government purchase all the loans that are going into to foreclosure.  The government will now be your lender.   That’s right, even if you don’t have a job right now, you eventually have to pay the loan back.  The feds will do what they do best  and create another bureaucratic office to move heaven and earth to get you a new job just so you pay them back–with interest.  You can have up to 30 years to pay your loan back.

3.  Stop the weird government practice that magically evaluates certain assets, calls them zero or worse and forces those who hold risky loans either directly or indirectly to declare to the world they are insolvent. There is some weird technical term for this rule.  Ask those Mensa financial types who speak fluent financial bull shit.  As I recall, this is a government practice which if it did not exist means there would be no crisis.

4.  That Klown of a Treasury secretary who could not figure out how to pay his taxes needs to  find the value of the toxic assets and buy them already.  Like those lying morons from the Bush administration promised they would do before pissing away the last 300 or so billion dollars.