The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

God Grant Joe Nocera A Moment Of Lucidity

Posted on | August 7, 2011 | 9 Comments

by Smitty

Via Memeorandum, this column in the Gray, Room-Temperature Lady is just a thing of beauty, if you find beauty staring down a port-a-john. Crescendo reached here:

Then came the financial crisis. I like to joke that there’s nothing like a good financial crisis to turn you into a liberal. But it’s not really a joke. The more I learned the back story that led to the crisis, the more horrified I became. The lack of regulation and oversight of Wall Street and the big subprime companies like Countrywide, driven by the ideology of deregulation, was thoughtless and irresponsible. The refusal of bank regulators to stop subprime abuses bordered on the criminally negligent. The unwillingness of the Obama Justice Department, even now, to hold anyone to account for their role in the crisis has been disheartening.

Lack of regulation? Isn’t over-regulation the reason that capital is fleeing to England? Or is the anti-business tax climate of the U.S. just another form of patriotism?

Lord, grant this man some grasp of Economics.

“refusal of bank regulators to stop subprime abuses” is gorgeous. The Community Reinvestment Act is a standing 10th Amendment violation, and has been further used as graft machine. Fannie and Freddie created the moral hazard that drove the financial crisis.

Lord, grant this man some grasp of human nature and limited government.

“The unwillingness of the Obama Justice Department, even now, to hold anyone to account. . .” The Obama Department of Justice is a standing oxymoron. If Holder and his clown car load had any notion of Justice, they’d resign en masse.

Lord, grant the suffering people justice with a side of mercy.

You can read the whole thing, and judge whether a slightly liturgical response was better than the napalm shower that initially came to mind.

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Comments

9 Responses to “God Grant Joe Nocera A Moment Of Lucidity”

  1. rosalie
    August 7th, 2011 @ 1:32 pm

    Where there’s life there’s hope, but I doubt if he’ll ever have  “a momemt of  lucidity”.   He’s too far gone. 

  2. Mike
    August 7th, 2011 @ 2:00 pm

    Personally, I would have gone with the napalm shower, but that’s just me. He excoriates big bankers and deregulation, but doesn’t have anything to say about all those poor people who bought more house than they could afford. I know some will say that they couldn’t buy those houses without the help of the subprime lenders, but jeez, use some common sense.

    A few years back, my wife and I were ok’d for a home loan that we could well afford. All we had to do was sign the papers. We had a moment of prayer and talked about it for a bit outside the lender’s office. We already had a home and land that was paid for. So we decided to fore go the loan. Boy am I glad we did. We don’t owe anybody anything now except for the usual monthlies. I build houses for a living and the housing market really sucks right now. If we had taken that loan, we’d be one of those families sleeping in our cars or in one of those ‘Obamatown’ tent cities.

  3. Facing The Truth And The Looming Catastrophe - The POH Diaries
    August 7th, 2011 @ 10:28 am

    […] theme is being advanced everywhere. Even in some circles within the Republican party. It’s quite […]

  4. Beto Ochoa
    August 7th, 2011 @ 2:43 pm

    Don’t be confused by the propaganda.
    When Clinton and his congressional co-conspirators got rid of the Glass-Steagall Act of 1933 and allowed  the banks, brokerages and insurance companies to enter each others’ industries it was the beginning of all these rip-off schemes. Now we’re saddled with trillions in debt that is essentially non existent. Invented and coerced.

  5. Mike F.
    August 7th, 2011 @ 2:46 pm

    Banks came up with these bizarre financial instruments as a response to race hustlers, both in and out of congress, threatening lawsuits because their “constituents” could not qualify for standard loans.

  6. rosalie
    August 7th, 2011 @ 3:35 pm

    Greed is rampant not only in government, banks, etc. but with the families who bought homes they couldn’t afford.   You and your wife thought it through and decided against it.  More people should have done that. 

  7. tranquil.night
    August 7th, 2011 @ 3:50 pm

    “They know not what they do..”

    I wonder sometimes.

    Well done again Smitty.

    Laughter and prayer are the best medicine. Alchemist’s secret.

    Plus they’re what drive the Left absolutely batty.

  8. dad29
    August 7th, 2011 @ 4:17 pm

    Ya know, Smitty….with all due respect, and that kinda stuff, perhaps you’d like to point to the regulation which controlled the loan-sharking brokers’ “variable-rate” schemes.

    Just point to it for us.

    Fact of the matter is, as mentioned above, that the loan-sharks were greedy bastards–and the people who took out those mortgages simply should NOT have taken them.

    Lotsa blame, and greed, to go around.

  9. Anonymous
    August 7th, 2011 @ 5:11 pm

    Mike, when I moved to Dallas, the banks would have loaned me twice the price of what we bought. I knew better. Why don’t people think?