These Guys Almost Had it Right

By Chip Hanlon | October 14, 2008 | 11:29 AM | 1 Comment

Interesting article this in this morning's Wall Street Journal: Wall Street Donors Resent Being Blamed by McCain.

Why do I say they "almost" had it right? Because in the end they rolled over and contributed to him despite the fact McCain is still completely incapable of identifying Washington as the real culprit in this mess, and despite the fact that he continues to rail against "Wall Street greed." No surprise given his consistent populist rhetoric against "corporate greed" over the years.

What is a surprise is that these business leaders would still be there for him, when he is quite clearly not there for them. Heck, I contributed to the guy's campaign a few months ago, but I wouldn't keep kicking myself with further contributions after having watched his performance over the last month. What's the point?

And if you think I'm going overboard in continually harping on D.C. as the creator of this credit mess, you don't know the half of it. How do I know? You can, too, by checking out my podcast, Market Neutral, this week; I interview Fannie's first Chief Credit Officer, Edward Pinto. He served in the late 1980's and in this interview gives a great description of exactly how the politics of affordable housing chiefly built this mess over time. Give it a listen-- fascinating guy.

That's right! Affordable That's right! Affordable housing advocates led by ACORN. Barack Obama's ACORN. I hope he talks about that! Submitted by Aardvark on Tue, 2008/10/14 - 11:35am » reply |