Blackadder’s Lair

The home of many a cunning plan

Who’s to Blame?

The current credit crisis seems to have reversed the old adage that success has a thousand fathers while failure is an orphan, as all across the political spectrum people try to pin the blame for current woes on their political opponents and favorite hobby horses. The following is a partial list of things that have been fingered as a culprit, focusing on specific charges rather than generalized accusations about “greed” or “regulation.” Some may have merit. Most are just silly. Additional items will be added as I come across them.

1. The Community Reinvestment Act.

2. The repeal of Glass-Steagall.

3. Fannie May and Freddie Mac.

4. The Federal Reserve.

6. The Bush Tax cuts.

7. Illegal Immigration.

8. Short selling.

9. The mark-to-market accounting requirements.

10. The capital gains tax exclusion for housing.

11. Chris Cox.

12. Flying monkeys.


September 24, 2008 - Posted by | Economy, Politics

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