"A letter to my left wing radical son"

jesse

@ October 8, 2008

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I'm writing this for you, Jesse. I just wanted you to know, in no uncertain terms, just how politically sophisticated your family truly is. In speaking with your Uncle Bernie this evening about the upcoming election, he proceeded to tell me that there was a guy in the supermarket wearing an obviously pro-Obama tee shirt. It had a picture of Sarah Palin on the front with an X through her picture and than a "Vote for Obama" slogan on the back. Being the open minded individual that he is, he told me that if he were only 10 years younger, he would have shoved that tee shirt right up that guy's ass. Now that would be something you don't see every day.

Now Jesse my dear, you know I don't care too much for Barack (in Jewish circles in Florida, the 80 and up crowd think it's Baruch) but even I wouldn't go that far. Shoving tee shirts up people's asses is way beyond my commitment to politics.
I was also informed that your cousin Eric has been renamed "One Dumb Fuck". I thought I might be jumping the gun, but I guessed that Eric is an Obama supporter. At this point I felt it was my duty to tell Bernard that you too are an Obama supporter. You have now been officially renamed "One Dumb Fuck #2". A 10 minute tirade followed about how "he thought you were smart, but then what can you expect from a goddamn Yankees fan. They're all a bunch of low lives anyway." I end quote.

We then went on to discuss the so-called Wall Street Bail Out. I mentioned that I felt both parties were responsible for the current economic situation. Yes the Republicans deregulated Wall Street, but the Democrats did nothing to help when it came to controlling Fannie Mae and Freddie Mac. The CRA (Community Reinvestment Bank) forced banks into bad lending practices, and that in my opinion has a lot to do with the mess we are in now. Uncle Bernie's response to this was that Congressman Barney Franks sounds like "he's talking with a dick in his mouth". When you think about it there might be some truth to this.

So there you have it. I want you to know that I have always been considered the left-wing radical in my family - well, at least until you came along (Eric too I suppose.) I have now been replaced - thank God. I have passed the title on to you. Wear it well my dear.

- Your loving mother (not a bitter, bitter woman)

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Filed under: family | ny yankees | politics

Will Grapperhaus @ October 8, 2008 1:02 PM

I hate politics. :(

Regarding the economic woes, I thought this article was pretty informative and balanced.

http://www.stltoday.com/stltoday/business/columnists.nsf/davidnicklaus/story/ECAC1FD06F4DD39C862574D80007C529?OpenDocument

kevin @ October 9, 2008 1:07 PM

Do Democrats share blame for the problems? Absolutely.
Did the CRA (which let's remember, has been around since 1977, well before problems started) have anything to do with it? Not so much.

This article (http://www.slate.com/id/2201641/) is a bit confrontational in tone but well reasoned.

"Let's be honest. Fannie and Freddie, which didn't make subprime loans but did buy subprime loans made by others, were part of the problem. Poor Congressional oversight was part of the problem. Banks that sought to meet CRA requirements by indiscriminately doling out loans to minorities may have been part of the problem. But none of these issues is the cause of the problem. Not by a long shot.

The Community Reinvestment Act applies to depository banks. But many of the institutions that spurred the massive growth of the subprime market weren't regulated banks. They were outfits such as Argent and American Home Mortgage, which were generally not regulated by the Federal Reserve or other entities that monitored compliance with CRA. These institutions worked hand in glove with Bear Stearns and Lehman Brothers, entities to which the CRA likewise didn't apply. There's much more. As Barry Ritholtz notes in this fine rant, the CRA didn't force mortgage companies to offer loans for no money down, or to throw underwriting standards out the window, or to encourage mortgage brokers to aggressively seek out new markets. Nor did the CRA force the credit-rating agencies to slap high-grade ratings on packages of subprime debt."

bernice craft @ October 9, 2008 6:54 PM

You better believe that CRA, yeah I know it started back in 1977, had plenty to do with the current crisis. It was the beginning of the end. Lobbying groups were able to use this act and expand it to force banks into giving loans to low income and minority groups. And from there the rest of the shit hit the fan.

Now I know that greed had plenty to do with what happened next, but since both our illustrious candidates have taken plenty of money from these companies that made a fortune and than lost their shirts, McCain got money from Merrill Lynch and Obama received plenty from Fannie Mae and Lehman Brothers, I think that they should both put a cork in it.

Steven Schmitt @ June 22, 2011 3:27 AM

I am sick and tired of hearing rubbish about the "US economic recovery". The Federal government borrowed and spent $6.1T during the last four years to generate a cumulative $700 billion increase in the country's GDP. That means we've borrowed and spent $8.70 for every $1 of nominal "growth" in GDP. In constant dollars, GDP is flat, we've got no "economic growth" at all for the $6.1 trillion. In constant dollars, the GDP in 2011 might return to the 2007 level, if the economy continues "growing" at the same pace reached inside the first ninety days of 2011. If not, then the GDP will in reality be below before recession levels. There is no recovery, the facts prove this.

Charla Lebahn @ February 13, 2012 5:12 AM

thanks for sharing your brain with the world. How great it would be if more people were willing to do something for nothing.

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