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A cursory review of the facts will show that this problem started because a republican led Congress and a democrat president believed our economy and the American dream of home ownership was far more important then a sound stable dollar on the world market.While inflation was held in check everything was fine and the borderline homeowners could squeeze by on their income. Those that invested in real estate could stay afloat by using the low interest rates and the notion that property value always goes UP. That was until the price of crude oil shot through the roof and our political leaders decided we needed to invade Iraq to bring about some sort of democratic government in the region
Limbaugh: McCain Throws Cox 'Under the Bus'
Rush Limbaugh wishes John McCain's economic proposals would stop bashing Wall Street, thinks the Arizona senator is running against the wrong people, and deplores his demand that SEC Chairman Chris Cox be fired -- and he wants everybody to know it.
Speaking to Greta Van Susteren on her Fox News show On The Record Friday, Limbaugh ripped into McCain, saying he understands what he called the populist tendency to bash Wall Street because people are upset and to join the chorus that Wall Street is corrupt and full of a bunch of people, but that's not the case.
I don't think bashing Wall Street, with the Democrats already doing that, is a way for Sen. McCain to separate himself. What he ought to be doing is what he did in Green Bay this morning, which is attack the people responsible for the Fannie Mae disaster -- and that's all Democrats. It's Chris Dodd, it's Barney Frank, it is Barack Obama, it's Franklin Raines, and Jim Johnson -- people associated with the Obama campaign.
"I understand the temptation to start ripping into Wall Street, because people instinctively fall into that so-called class envy susceptibility for this. I think it's a mistake. I think he can distinguish himself better by attacking the people he's running against -- he's running against Democrats, he's running against Obama, he's running against Wall Street.
Wall Street is probably going to finish the week higher than when it started There's a lesson here to stay calm and cool."
Limbaugh addressed McCain's attack on Cox, the Securities and Exchange Commission chairman.
I also wish he hadn't thrown Chris Cox under the bus, the Securities and Exchange Commission guy, [saying] he would have fired him. Cox had nothing to do with this. This is a tendency of Sen. McCain's to look at himself as Teddy Roosevelt and take on anybody he thinks is a robber baron. I wish that he would take some of that back and just focus on who he's really running against -- the people trying to destroy him.
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