posted on Feb, 16 2009 @ 10:00 PM
Has anyone seen this? This is the main part I want you to see follow the link for the full text.
"This crisis did not happen solely by some accident of history or normal turn of the business cycle, and we won’t get out of it by simply waiting
for a better day to come, or relying on the worn-out dogmas of the past. We arrived at this point due to an era of profound irresponsibility that
stretched from corporate boardrooms to the halls of power in Washington, DC. For years, too many Wall Street executives made imprudent and dangerous
decisions, seeking profits with too little regard for risk, too little regulatory scrutiny, and too little accountability. Banks made loans without
concern for whether borrowers could repay them, and some borrowers took advantage of cheap credit to take on debt they couldn’t afford. Politicians
spent taxpayer money without wisdom or discipline, and too often focused on scoring political points instead of the problems they were sent here to
solve. The result has been a devastating loss of trust and confidence in our economy, our financial markets, and our government."
Remarks of President-Elect Barack Obama
As Prepared for Delivery
American Recovery and Reinvestment
Thursday, January 8, 2009
Ok so he admits that it was the governments fault. I knew all along that greed would be our downfall. That is why our form of capitilism does not