Rewriting Recent History

Not content with re-writing the distant past –the Bible, the Constitution, Social Security– Republican’ts are trying to re-write the history of the housing bubble.

Krugman quotes the Huffington Post:

all four Republicans voted in favor of banning the phrases “Wall Street” and “shadow banking” and the words “interconnection” and “deregulation” from the panel’s final report, …

that report being from the Financial Crisis Inquiry Commission. Says Krugman:

Yep. It was all Fannie and Freddie, which somehow managed to cause housing bubbles in Ireland, Iceland, Latvia, and Spain as well as the United States; and the repo market had nothing to do with it. …

I really do wonder how this country can remain governable, when one party insists on creating its own reality. Next thing you know they’re going to reject the theory of evolution. Oh, wait …

Invincible Ignorance – NYTimes.com

 

Advertisements
This entry was posted in American History, Cultural Comment, Economics, History, Politics and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s