Jeremy Strickler explains that private, unregulated firms generated over 80% of the toxic sub-prime loans that are shaking the foundation of the market. Add to that the deregulation of capital reserves requirements, allowing financial institutions to double or triple their leveraged debt (based on sub-prime garbage) and you've got a recipe for financial disaster.
In true Rovian style, it only took the Conservative Spin Machine a couple of days to cook up a story pinning the collapse of unregulated free markets on the wild excesses of ... wait for it... wait for it... THE POOR! That's right, according to the right-wing echo chamber from Rank Limberger to the Palin/McCain…
Obama came across to me and the room full of (mostly liberal) folks I watched the debate with as exactly the statesman we need to take control and lead the nation out of these troubled times. I could easily picture Obama representing the United States in tense and complex negotiations with othe world leaders. I…
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