I love today's media tools. YouTube is such a beautiful thing. We see all the minute details that led to catastrophe, preserved forever.
Shame on me. When President Bush talked about the 'ownership society', I only caught the soundbites, and not the full substance. I liked hearing Bush say that our country would be better if more Americans owned their own homes. Who could argue?
Well, the details. The pesky details. I feel shame. This YouTube clip shows President Bush talking about broadening government involvement in making it so. Remember when the bubble burst and so many tried to lay all blame at the feet of the free market? It kinda surprises me that they weren't more eager to lay blame at Bush's feet. But then, the commitment is to government expansion, even more than attacking George Bush. The commitment is to pretending and lying about the existence of a free market. Crazy suicide. Government causes problems, so were going to solve those problems with more government. Yeah!
Wince as Bush talks about spending tax money to take away the requirement for higher downpayments. Watch the collapse begin!
Then, a few years later, Bush talks about how people bought homes they couldn't afford! Well, damn! Who encouraged that with nearly half a trillion dollars of taxpayer dollars? The free market?
Get a load of the first minute, talking up the strength of the economy. Please- get me a bucket.