Home > News, Opinion, Politics > Would the Last Honest Reporter Please Turn On the Lights?

Would the Last Honest Reporter Please Turn On the Lights?

Orson Scott Card has written an interesting piece, Would the Last Honest Reporter Please Turn On the Lights?, regarding the financial mess our government has created.  Alternative site to visit is the Meridian Magazine which has posted as well here.  It is a must read, so check it out.

A found the Meridian Magazine note about Mr Card interesting:

Editor’s note: Orson Scott Card is a Democrat and a newspaper columnist, and in this opinion piece he takes on both while lamenting the current state of journalism.

Finally, someone who understand it and tells it as is regardless of political persuasion.  I wish there were more Democrats and/or journalists like him.

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  1. averageuscitizen
    23 October 2008 at 17:32

    Orson Scott seems to have a very narrrow view of the situation. He’s absolutely correct that the Democrats must share the blame for this financial fiasco, but Fannie and Freddie were but one piece of the puzzle. Banks were not forced to make these loans, and over 50% of these loans were made by mortgage companies, not banks. Another 20% or so were made by subsidiaries to the banks, so they are out of the picture also.

    From 2000-2006, when most of these loans were made, the Republican party had control of the Senate, House and the Executive office, so they could have changed the rules had they really wanted to.

    A huge portion of this problem came not from Fannie or Freddie, but from credit default swaps and extremely questionable derivatives, which were expanded greatly under the Bush Administration.

    Yes, I do hold Nancy Pelosi and Barney Frank responsible for much of this mess, but this has been a very equal opportunity fleecing of the American people by the powers in both Government and the Financial services with a lot of help from Mortgage brokers who pushed loans like heroin. Many of these defaulting loans were not sub-prime, but jumbo loans made to people who just got greedy.

    If you listen to every state of the union address since 2000, George Bush touted the “ownership” society and how his administration was helping to get more people into home ownership than every before…and the entire congress stood and cheered every single time. So don’t try to tell me that it was all the Democrats fault. There is plenty of blame to go around on this one.

    That is the truth and there really is no denying the truth.

  2. 23 October 2008 at 17:41

    I probably would agree, but we need to consider something.

    Is it possible that during the 6 years the GOP were in control, that the Democrats would have stopped any action the GOP would proposed?

    The GOP had a narrow majority in the Senate at that time. Nothing could get done without 60 votes. Knowing how the Democrats have acted in the situation and in the past , that lack of action was definite a major cause.

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