Ghost of a flea

These casual accusations of criminality and deceit come easily to Obama, who has been a real bull in the china shop of the credit industry. He’s threatened Chrysler’s bond holders with personal destruction, and used raw government power to adjust the balances on home mortgages. Nervous banks have taken TARP funds designed to stimulate new lending, and sat on those funds instead, because they’re afraid to make loans in the increasingly Venezuelan business environment the Administration has created. U.S. Treasury bonds are losing frightening amounts of value in the face of reckless deficit spending. This Administration probably wouldn’t exist if a group of fabulously corrupt senators including Barack Hussein Obama hadn’t gotten rich by forcing the mortgage industry to make unrealistic loans to politically favored constituent groups, and fending off every attempt to correct the system before it crashed.