When are people going to start laying the blame

[Digit]

When are people (mostly the media) going to start laying the blame for our economic situation at the lap of the former misadministration? There are many other things they did wrong, but I wanted to stick to one subject.

I think I just heard lumpballs, limpballs or whatever you want to call him blaming OUR new President for this. Um, he JUST took office, and this fiasco took time, so President Obama is NOT to blame.

Whenever our economic mess is mentioned, I would like to hear it mentioned that this was left on his plate by the previous crooks.

[woodwrite]

1. Huge issue,....... really huge

... and yet we hear so much about accountability, right? Just the subject, itself, is unimagineably expansive and complicated. The "many other things they did wrong" are, in fact, inter-related and part of the origin of the current economic crisis. To wit: PNAC = 2000 election irregularities = ENRON = privatizing Social Security = Cheney's Energy Task Force = Kyoto = Iraq War = Valerie Plame outing = corporate outsourcing = Downing Street Memo = Abu Ghraib & Gitmo = Rove & Gonzalez = tax cuts for the rich = acquiescent press = the political industry = subprime meltdown = the bailout debacle = WHERE WE STAND TODAY. (...left out plenty, I know) They're all part of the same phenomenon. Focus on just one tree and you might overlook the forest, eh? In that convoluted context, the question becomes, "Who is really running this show?"

Who, indeed? It isn't Obama,.... it wasn't Bush or Cheney,.. and it sure as hell isn't the American electorate. And this is hardly a conspiracy theory; it's the natural order of things and it revolves around money. Simple as that. Follow the money.

My personal theory is that what the future holds for the planet,... and I mean the fairly long-term future,.... is discernible to those in the right position. And they are now preparing for whatever trainwreck is headed our way,...most likely a combination of environmental and overpopulation disasters, coupled with depletion of planetary resources. What we've been witnessing for years is the feathering of nests,.. the looting of the system,,... the hunkering down, if you will.

So,.... who's really at the top of the food chain?

[Telly Savalas]

2. It's pretty much understood that this is the case.

When an extremist gets on the radio and starts blathering about how 15 month long economic trend was caused by a guy who's been president for a week and a half, only a total dunce will believe him.

[aikoaiko]

3. They justify blaming Obama, because the market crashed after his Presidency look assured.

The free market feared Obama socialism that it sent it in spirals. blah, blah, blah.

[bklyncowgirl]

4. Unfortunately, this appears to be far more complicated than that.

The deregulation that allowed the credit default swaps and derivatives actually began under Bill Clinton. The Bush administration of course, with its abhorance of any and all regulation, turned a blind eye to what was going on and allowed a bad situation to get worse--much worse. This article pretty much spells it out.

http://www.villagevoice.com/2009-01-28/news/what-cooked-the-world-s-economy

The good news is that Obama has some personal understanding of the derivatives market and has been listening to some of the people e.g. Warren Buffet, who have been warning about this for years. The bad news is that Obama is also listening to Bob Rubin who is one of the prime culprits in the deregulation which eventually led to this mess.

[terisan]

5. The Dems played ball with Bush-for example the big bank bailout and Obama

has many of the bad Wall Street players in his adm doing the financial plans.

IMHO Obama is not being honest with us and is sticking us with the huge debts the bad actors want off their backs.

Big Money seems to own him as surely as they owned Bush.