With all the Republican blather these days about how evil and wrong President Obama’s economic policies are and what those policies have done to our economy, it can’t hurt to remind ourselves and our neighbors how the U.S. and the economies of other nations ended up in the proverbial toilet that they have been trying to get themselves out of for the past 3 years:
Wall Street in general and banks in particular discovered years ago that they could even make money off of bad loans and mortgages. So, they gave out hundreds of billions of dollars in mortgages and loans to people and companies who really could not afford them. Suddenly, the unregulated financial industry in this country found itself stuck with billions of dollars worth of useless loans. How did we keep this country from going into a depression? Who bailed them out to keep them solvent? YOU, the American taxpayer.
The greed of the private sector got us into this mess and a hell’va lot of rich people in this country and their loyal operatives in the Republican Party will spend billions of dollars in the next few months trying to convince voters that our economic troubles are all the fault of President Obama’s. Don’t let them. Speak the truth.
Except for the President himself, at this moment in American history, there is no voice who speaks the truth louder or more clearly than Elizabeth Warren, candidate for the U.S. Senate in Massachusetts.