Tully, you didn’t get the quote quite right, but don’t feel bad. Everybody gets that quote wrong. As first enunciated on the back cover of Walt Kelly’s “The Pogo Papers”, a collection of Pogo comic strips (c. 1953), it was:

“. . . Resolve, therefore, that on this very ground, with small flags waving, and tinny blasts on tiny trumpets, we shall meet the enemy and not only may he be ours, he may be us.”

For me, part of the delight it still engenders is the casting of its final clauses in the subjunctive mode. Kelly wasn’t much given to bombast, except when mocking it.

(On the other hand, perhaps you have Mark Twain in mind: “. . . there is no distinctly native American criminal class except Congress.”)

Meanwhile, all this borrowing to shore up socialism drives the dollar lower and oil higher.

“As with most economic problems, we find the hand of government. The Community Reinvestment Act of 1977, whose provisions were strengthened during the Clinton administration, is a federal law that mandates lenders to offer credit throughout their entire market and discourages them from restricting their credit services to high-income markets, a practice known as redlining. In other words, the Community Reinvestment Act encourages banks and thrifts to make loans to riskier customers.”– Walter E. Williams, “Subprime Bailout”

http://www.townhall.com/Columnists/WalterEWilliams/2008/01/23/subprime_bailout

Don’t miss this part:

“Dr. Williams serves on the faculty of George Mason University as John M. Olin Distinguished Professor of Economics and is the author of More Liberty Means Less Government: Our Founders Knew This Well.”

What’s your expertise?

Uhm, there’s plenty of blame to go around. Most of the Enron wheeling and dealing, the malfeasance, took place during the later part of the Clinton years (at the time, Ken Lay and Clinton were golf buddies). Add what about WorldCom’s Bernie Ebbers (huge Clinton contributor) and Global Crossing (Terry McCaulif), which had ties to the Demicratic machine. The current mortgage crisis was spurred by a bill written in 1997 by Sen Chris Dodd (D) that required banks to stop discriminating and start lending to lower income families. So that is just what the banks did. Now am I blaming Chris Dodd for the crisis? Of course not! He had no idea his bill would open the door and ultimately create the conditions leading to the current bank crisis. Both parties are complicit in creating the current economic slump.

Last week, the senate passes a bill to bailout people who took out mortgages they couldn’t afford, and squandered non-existent equity to put in home-theaters and granite counter-tops. The bailout is supposedly paid for by… wait for it… confiscating the profits of Freddie Mac and Fannie Mae.

This is what you get when you let socialists run your government.

If there is gasoline on the floor in the theater and you yell fire and light a match… should you get credit for yelling fire?

or should you try to clean up the gasoline (even if it means no one will ever know it was you that cleaned it up)?

http://volokh.com/archives/archive_2008_07_13-2008_07_19.shtml#1216071430

Congress will have to get serious about this. They created it and watched it morph into the blob it is today. Even Jamie Gorelick made millions at Fannie Mae. Think of how many government jokers have been stealing from that henhouse.

They can not bail it out anymore than they can pay off the national debt. But they will scramble to prop it up while whistling past the charter.

Now they are talking about Fannie/Freddie going-under….
I don’t know about you, but I’m putting a priority getting my finances in order over the next 30-days. Pay-off my current business debts, re-double collections from my clients, and cash-out my non-essential account-balances. From now-on I’m front-loading my client’s invoices rather than carrying their outstanding billing balances as in the past.

Even if true, where were the omnipotent liberals? They’ve had control of Congress for over a year and they’ve done what, exactly, to fix your so-called Republican exclusive mess????

Take your time and look for some catchy bumper sticker slogans, if you need to. Just get back to me.

23: And don’t forget that the plastic was manufactured in a foreign country with who knows what kind of toxins in it.

the flippin ridiculous thing is that neither glenn, nor his “pajamas media” will take on this Dem media machine. pajamas media is so timid. what does this country need? “NEW MEDIA” that will shine the light on these corrupt scumbags. why the cover for schumer, dodd, etc? pajamas media is such a waste. and glenn reynolds would rather save face with the NY Times and Dem media conspirators than do what is right.

people who want to cover for schumer don’t understand banks and how they have worked in this country for decades. yeah, maybe IndyMac wasn’t doing so great. Lighting the match and saying ‘well at least I yelled fire’ is now costing pain in real people’s lives. We will never know if IndyMac might have been able to make it without having 12% of its deposits gone in 2 weeks.

blame Bush you blind lever pulling Dems.

these flippin dems want to talk the country over a ledge to secure more votes. see, vote for us, bush caused it. it’s just sick. add to this how in 2004 and 2006 they would point to a car bomb and say, see vote for us. it’s sick. why are people like schumer running this country? i used to vote for Dems. Now I have become anti-Democrat more than anything else.

…any statement or rumor, written, printed, or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition

Schumer’s actions were sloppy and stupid, and his statement was the key log that started the run, but his statements were not untrue per se. (he’s the Rodney King of the political world) Still, just another example of why the approval rating of congress is at 9 percent.

Financial Code section 3369(a) states:

Any person who willfully and knowingly makes, circulates, or transmits to another or others, any statement or rumor, written, printed, or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any bank doing business in this State, or who knowingly counsels, aids, procures, or induces another to start, transmit, or circulate any such statement or rumor, is guilty of a misdemeanor punishable by a fine of not more than one
thousand dollars ($1,000) or by imprisonment for not more than one year, or both.