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Wednesday, December 21, 2011

Romney Endorses "The Big Lie "

Mitt Romney will say anything to be president:

Romney-Gingrich Bid to Pin Crisis on Gov’t, by David J. Lynch: The leading Republican candidates for president have embraced an explanation of the financial crisis that has been rejected by the chairman of the Federal Reserve, many economists and even three of the four Republicans on the government commission that investigated the meltdown.
Both former House Speaker Newt Gingrich and former Massachusetts Governor Mitt Romney lay much of the blame on U.S. government housing policies... The Republicans say the federal government pressed banks to make risky housing loans under a 1977 law called the Community Reinvestment Act, helping inflate home prices and ultimately sparking the crash.
“The reason we have the housing crises we have is that the federal government played too heavy a role in our markets,” Romney said in a Nov. 9 Republican debate. “The federal government came in with Fannie Mae and Freddie Mac, and Barney Frank and Chris Dodd told banks they had to give loans to people who couldn’t afford to pay them back.” ...

What Romney is showing us is that he is willing to embrace a false narrative in order to reach his goals. George Bush showed us how dangerous it can be to have someone with that attitude holding the reins of power.

    Posted by on Wednesday, December 21, 2011 at 03:49 PM in Economics, Politics | Permalink  Comments (50)

          


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