A Comment About

The POR (Pelosi-Obama-Reid) Economy: Tanks a Lot

January 15, 2009 - 12:00 am - by Tom Blumer
venividivici
2009-01-18 13:15:42

Derek Moyer:

Really? Really? The democrats destroyed the economy! They hate freedom and democracy! They want us to suffer! Uncritical, malevolent, boring, and, well, ignorant. Do you even really believe this? Every bad thing=Democrats. Every good thing=Republicans. Are you even interested in the actual structures and power relations within which this recession was caused? Do you really even care? If you did, why would you write this?

Rather than criticize what others say, why don’t you tell us your own, no doubt both brilliant and Democrat-exhonorating, version of what happened?

I’ve got it as, Democrats push lower underwriting standards on mortgage lending, followed by Wall Street and ratings agencies failing to do job of identifying and being compensated for risks, followed by Republicans warning things were getting out of control, followed by Democrats playing race card to shut down Republican criticism, followed by Republicans failing to show spine and pass reforms anyway, followed by present day. Notice who set the ball in motion: Democrats. Notice too who wanted to keep the party going after it had been realized that it was a mistake: Democrats.

Overall larger share of blame, then, has to go the the Democrats.

That’s how you do an analysis of causes and effects.