Wednesday, April 22, 2009

Setting Us Up

Mr. Geithner now blames the United States for the current financial crisis, unwittingly (or, maybe not) putting us on the hook as the responsible party to pay the costs. Well, it may be true that Americans excessively borrowed, but that means the world excessively lent. But, this is the typical "guilt talk" that solely blames lenders for "predatory lending practices" and absolves borrowers from the act of taking out a loan they knew they were at high risk of being unable to repay. To be sure, the current economic situation is a bitter pill we will have to swallow, but setting the precedent that we are primarily responsible only gives the world justification to absolve themselves of their own responsiblity. Typical for this administration...