Who Buried The Middle Class?

Was it Abbott and Costello?  No, it was two guys with less skill than Lou and Bud in pretending that they knew what was going on.

George W. Bush and his sidekick Henry Paulson steered the American economy into a tailspin and then through their callous disregard for the effect that not extending a stopgap to Lehman Brothers would have plunged the world into the greatest economic calamity since the Great Depression. Through their lassitude, jobs were lost, national economies were ruined, houses were lost, and families were thrust into poverty.

Bush and Paulson buried the Middle Class, no one else.

This was a chasm so deep, that it will take time, not just three years,  to climb out of.  Do not stop the team that has already put the Middle Class back on the road to recovery.  Lehman was the only investment bank that the two of them decided not to extend stopgap measures to.  Small wonder since Paulson was the chief executive officer  of Goldman Sachs prior to being the Secretary of the Treasury.  Was it payback time for Goldman’s major rival, Lehman?

Goldman on the other hand profited immensely on the failure of the housing market by betting that the housing market would collapse.

Now we have the need to rescue the economy; but Republicans are trying to stop the rescuers

Not permitting the rescue team to continue their efforts to recover from the 2008 economic disaster is like torching a building and then turning off the water just when the fire department is set up to quench the flames.

Romney and Ryan wants the Middle Class to allow them to recycle the Bush/Paulson mantra so they can finally finish the job that those two started.  If Bush did such great work as the last Republican president, why is he missing in action?  Do the Republicans want to hide the real reason why the Middle Class is struggling now?

President Obama has used his first three years to put the country back on to a recovery track: the automotive industry is back, job losses have been essentially stayed, housing is recovering, etc., etc.  But if you listen to the Romney diatribe, we need to give more money to the very rich so that they can wreak more havoc with their wealth.

(Disclaimer: the writer was personally affected by the Lehman collapse)

Advertisements

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