Last night I was part of the captive audience -- watching the Tonight Show and listening to Barack Obama pitch his positions on various issues. Much as I admire the man, I couldn't help wishing he had a little more of the Bill Clinton talent for entertaining an audience.
No, that isn't what is bothering me this morning. What has me upset is that he wants to dump Fannie Mae and Freddie Mac and reward our oh-so-admirable private sector with the whole kit and caboodle of mortgage loans. Who was responsible for the mortgage meltdown? It wasn't the government agencies. It was Bank of America and its compatriot private enterprises. They are too big to fail and too big to control.
So, the banks are to be rewarded with the entire mortgage business? Tell me, if they couldn't be controlled before, how are we going to control them in the future? They must be high fiving and toasting each other like there is no tomorrow. I, personally, am sickened by the possibility.
What I want to know is which member of the GOP sold this idea to Obama and what is being bargained in return? This, as far as I'm concerned, really stinks. Sure, one of the cornerstones of the middle class is home ownership. Obama put that in his outline for the conventional American dream. Oh, yeah, this is AFTER the great transfer of wealth and bargain basement sales that have thrilled "investors," AKA, the people who can write a check to buy a house, the people who don't have to worry about taking out a mortgage. And, as those houses go on the rental market for inflated prices to the very people who lost their homes, what is going to change?
I don't get it!