Thursday, December 16, 2010

Paul Krugman and his Gang of Dweebs...

Repeat A Lie Enough Times . . . and you just create another lie...
Even Gretchen Morgenson, of that liberal media outlet NYTimes, began her column on Sunday with this sentence: :”DECIDING what to do with Fannie Mae and Freddie Mac, the taxpayer-owned mortgage giants that helped set the financial crisis in motion, will be a huge job for Congress next year. ”

That single sentence is a huge victory for the reality challenged.

Repeat a lie enough times . . .
The new lie is that the Fannie Freddie CRA had NOTHING to do with the financial crisis and the housing crisis. It seems that most people are caught up in shallow binary thinking. Gretchen said "HELPED" and I find no reason to not think that it helped in some way, although rightly not the only reason for the crisis. Just as the low interest rates promoted by the Fed did not directly cause the crisis, this loose money was trying to find a place that paid high rates of return.

This was not Paul Krugman's post but HT to him at: Decade of the Living Dead - NYTimes.com

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