Oh the irony

This week, Gil claims Republicans are blaming Democrats for the financial crisis.

Nevermind that Democrats have been the majority party since January 2007 (for over two years now) and that the DOW was then on its way soaring up to 14,000 under Bush and Republicans policies. Obviously, (according to Gil) this market mess is the fault of the Republicans.

Just ask Obama. He blames Republican policies for the financial crisis.

Obama blames Wall Street woes on Republican policies

Oh, but it must be OK for Obama to blame the other party's policies. Certainly, Gil can find some excuse to justify his total hypocrisy.

Personally, I think enough is enough with the partisan bickering Gil wants to engage in on a weekly basis. This financial crisis is here and needs to be solved. Obviously, Obama has not brought together both of the parties to solve this in a bipartisan manner. He has said urgency trumps bipartisanship. I say, BULLSHIT. Especially after he promised a new era of bipartisanship, openness and accountability. As did Nancy Pelosi.

Gil said "Rush likes to pretend the housing crash is all Barney Frank's fault. No way would banks have paired "creative" mortgages with risky borrowers without government pressure. That's 100 percent wrong. Banks were tripping over themselves to get in on the game."

And why do you think they were tripping over themselves? Because the government was making it appear very profitable for them to do this - and it might have been very profitable (for the CEOs).

Back to the acknowledged beginning of the subprime mortgage crisis



Gil cites two banks (out of how many US banks? 8,000? 9,000?) that were leaders in advancing the subprime mortgages, Washington Mutual and Countrywide. Kerry Killinger of Washington Mutual pulled out of the subprime mortgages in 2007 and was later fired. Countrywide is now in a series of lawsuits stemming from the crises.

According to a very liberal source, they were attracted to the subprime loans initially because of policies put in place by Andrew Cuomo, a Clinton appointee.

In what way is this financial crisis the fault of Republican policies?