The Pen is Not Always Mightier Than the SwordOctober 29, 2008
Last September, when Crap Sandwich 2.0 was making its way through Congress, Obama announced that he had written letters to Ben Bernanke and others concerning the potential housing crisis. The WSJ has released snippets of the letter. It kind of sounded like this:
Dear Secretary Paulson:
I hope all is well with you. I think something bad might happen to the housing market. Maybe someone could get together and talk about it. Maybe even come up with some solutions. Please consider this letter.
Barack “The One” Obama
Here is WSJ’s analysis of “the letter”
There’s more. Mr. Obama’s March 2007 letter included a stirring call to “assess options” and boldly suggested that the two men “facilitate a serious conversation” about housing. He was even brave enough to suggest that “the relevant private sector entities and regulators” might be able to provide “targeted responses.” Then in paragraph four, the Harvard-trained lawyer dropped his bombshell: a suggestion that various interest groups get together to “consider” best practices in mortgage lending.
Some may find it hard to believe that Mr. Obama had nothing to show for this herculean effort to shake up Washington. They may be shocked as well that such passionate language didn’t move the Fed and Treasury to action. For our part, we note that nowhere in his letter did Mr. Obama suggest that the government should stop subsidizing loans to people who can’t repay them.
Obama sure knows how to get things done. Letters, letters, and more letters. Al Gore should be outraged at Obama’s carbon footprint on this nation. Think of all the trees Obama is going to destroy on his mission for change.
Here is the entire WSJ article