Did Bush Put a Hit Out on Fannie, Freddy?

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Posted on Jul 21, 2008

From madcap marketeer Jim Cramer to wired alt-blogger Scott Thill, there are more than a few braniacs who believe the Bush White House did not just watch the collapse of Fannie Mae and Freddy Mac but actually engineered it as yet another sortie in the long GOP war against the New Deal. Never fear, though, as The Onion has already written a satirical report on efforts to build a better bubble.

The Onion (satire):
WASHINGTON—A panel of top business leaders testified before Congress about the worsening recession Monday, demanding the government provide Americans with a new irresponsible and largely illusory economic bubble in which to invest.

“What America needs right now is not more talk and long-term strategy, but a concrete way to create more imaginary wealth in the very immediate future,” said Thomas Jenkins, CFO of the Boston-area Jenkins Financial Group, a bubble-based investment firm. “We are in a crisis, and that crisis demands an unviable short-term solution.”

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TAGS: alternet bush depression economics fannie mae freddy mac jim cramer mad money money. new deal recession scott thill the onion the street wall street white house

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By joe, July 23, 2008 at 11:49 am #
(Unregistered commenter)

its not thier fault that we are a stupid society,and we let them do to us what ever they want,wake up cause its almost too late.

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By Alan, July 22, 2008 at 4:44 pm #
(Unregistered commenter)

(Berlin)Obama names Grover Norquist to shadow cabinet.

Standing next to the Siegessaeule in central Berlin,
Barack Obama has named Grover Norquist as his
prospective Treasury secretary.  During an emotional
speech Obama declared that “to keep the audacity of
hope alive” he will reach out to “the other side”,
“the dark side”, and “any other side”.  Obama
ended his speech with a resounding:
“Ich bin ein Currywurstchen”.

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By cyrena, July 22, 2008 at 1:37 am #

Purplewolf

The current print issue of Mother Jones says the same thing..but goes into the less than funny details.

Cover title..“This was no ACCIDENT: who wrecked the economy—- and why they work for John Mccain”

It’s got a picture of a guy standing on the ground looking up at a house (presumably one that he once lived in) floating up and drifting away…maybe into the horizon?

Anyway..the point…NO ACCIDENT. I call it the well-planned, (long ago) Great Heist.

It includes a time line of the Great Heist, and a piece entitled “Foreclosure Phil”. Several other explanatory pieces as well.

I’ll send it to you.

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By purplewolf, July 22, 2008 at 12:28 am #

You forgot about the “Hot Air Bubble, the Pipe Dream Bubble and the ever popular B-llsh-t Bubble”, all brought to you from the same people who brought you Enron and others. Thank you Phil Gramm, Dick Bush, Cheney and Halliburton, and don’t forget John McCain and the Keating Five, just to start the list off.

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